Illinois Record Keeping Rule 1450.180 for Real Estate Brokers
Today’s real estate broker article focuses on the State of Illinois. If you are broker in Illinois, you’re required to hold transaction records, escrow records and emplyment records for five (5) years. We always provide links to the actual FAQs for the regulations in case you want to research more information for yourself http://www.idfpr.com/faq/BRE/toggleBRERealEstateFaq.asp. Here’s a link to Rule 1450.180 in the Illinois Real Estate License Act http://www.illinoisrealtor.org/Member/government/issues/licenselaw.pdf it’s on page 90 of this 122 page PDF.
This seems to be mid-range in the regulations across the U.S. so far. The record retention range seems to be 3-7 years and Illinois falls right in the middle. Be that as it may, if you’re a broker in Illinois and are looking for a method to backup your digital records, our online storage solution will definitely satisfy the intent of the regulatory rules.
Basically all you’ll need to do is install some software and then configure the backup calendar to schedule backups to occur when you want them. Once your backups are complete, you are sent a verification report by email to confirm that your backup was successful.
We always think people feel more comfortable calling us directly to speak with one of our knowledgeable Backup Specialists, so if you’d like to discuss your backup needs, just call us 1 877 310-8224.
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Tagged with: business backup • Business Compliance • business online backup • compliance • Data Regulated Industries • data retention • Illinois Real Estate Commission • online backup service • real estate policies • Records Rule 1450.180 for Illinois Real Estate
Filed under: Business Backup • Business Online Backup • Data Regulated Industries • Illinois Records Rule 1450.180 for Real Estate • Online Backup • Real Estate Commission • Real Estate License Law • Secure Data Storage
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