Real estate brokers in the Wolverine State are required to keep trust account records for three (3) years and student records for a period of six (6) years according to Michigan’s Department of Licensing and Regulatory Affairs.

Here’s a link to the PDF that outlines these various regulatory rules. You can find them on page 91 and 101.

We also want to share a video that talks about the benefits of using online backup versus traditional methods of data storage like cardboard boxes and CDs. Obviously, we recommend our service, Filetwin, because we specialize in dealing with businesses in the regulatory environment.

Michigan seems pretty reasonable with their record retention requirements. Three (3) years isn’t too bad to have to hold on to hard copy files. Just remember, that there is a square footage cost issue surrounding boxes stored in offices that we always blog about and the possibility of natural disasters (fire, flood & storm damage) that might never affect your business, however, one incident can bring your entire operation to a grinding halt if you don’t use a solution like online backup. We strongly recommend that small businesses in Michigan seriously consider online backup in their business continuity planning.

If you’d like to learn more about online backup as an option for your business, give us a call at 1 877 310-2884 and one of our Backup Specialists will be pleased to continue this conversation with you.

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If you’re a real estate broker in the Hawkeye State, you are required to retain your records for a period of five (5) years according to the Iowa Professional Licensing Bureau

We found the Administrative Rules (Chapter 193E for Real Estate Brokers and Salespersons) which clearly outlines the rules that pertain to record retention. Review the Iowa Real Estate Commission Rules in this PDF document and scroll down to page 71 for Rule 193E-13.5(543B).

In summary, every broker must retain, for a period of at least five years, true copies of all:

• business books
• accounts, including voided checks;
• records;
• contracts;
• closing statements;
• disclosures;
• signed documents;
• the listing;
• any offers to purchase;
• and all correspondence relating to each real estate transaction that the broker has handled and each property managed.

The files, records, and other documents required by this chapter may be stored in electronic format for convenience and efficiency in a system for electronic record storage, analysis, and retrieval. Given that’s the case, then Filetwin is a great solution because we specialize in online backup for regulated businesses.

A.    A record required by this chapter may be retained as an electronic record only if the record storage medium can be easily accessed and the records can be readily retrieved and transferred to a legible printed form upon request.

B.    The scanning or electronic generation of a record must be monitored to ensure that the copy is clear, legible and true before the original is destroyed.

C.      Once the original record is transferred to the appropriate electronic storage medium, the commission no longer requires the retention of the record in its original medium. If the above process if followed properly, electronic records are considered the same as originals.

The records shall be made available for reproduction and inspection by the commission, staff, and commission authorized representatives at all times during usual business hours at the broker’s regular place of business. Even if the brokerage closes, the records shall be made available for reproduction and inspection by the commission, staff, and commission–authorized representatives upon request for five years.

If you’d like to continue this conversation in person, please feel free to contact one of our Backup Specialists who can answer and compliance related questions at 1 877 310-2884.

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If you’re a broker in the Cornhusker State, then you are required to preserve your real estate transaction records for five (5) years according to the Nebraska Real Estate Commission. As always, we’ve included the actual rules and regulations so people can verify our research.

Here are the top 10 reasons why online backup makes sense for brokers in Nebraska:

Number 10 – You need a strategy for backing up desktops, laptops or servers.

Not backing up computers in your office opens your business to liabilities and potential huge losses to your reputation and revenue.

Number 9 – Compliance. Compliance. Compliance.

Stay compliant so you’ll satisfy the intent of any regulation(s).

Number 8 – You don’t have the time to figure out an in-house solution.

There are too many vendors out there offering software solutions. With www.filetwin.com, you get more than software, you get our unmatched service and personalized attention.

Number 7 – You just aren’t willing to compromise security for convenience.

Encryption and our managed service ensures that your backups are completed properly.

Number 6 – You need a backup solution that you don’t have to monitor constantly.

You can request your backups to run daily, weekly or monthly. We offer continuous backup which runs real-time.

Number 5 – Your staff and budget are already overextended.

Stop wasting time and money with external drives, CDs and other traditional backup methods. This allows your in-house IT resources to be productive in revenue generating activities. Check  our video on the advantages of online backup.

Number 4 – You don’t want to pay for something you aren’t using.

You determine how many computers and how much storage you need and that’s what you pay for.

Number 3 – You’re concerned about natural disasters.

If you’re concerned about Mother Nature and that she might disrupt you’re business, then securing your data remotely is a prudent decision for any business and you’re continuity plan.

Number 2 – You’re over the headaches that come with backing up branch offices.

Now you’re able to make sure that your business continuity plan is working throughout your company.

The Number 1 reason why you need online backup is….

A simple payment plan is easier to cover right now because our budget is tight.

With Filetwin, there is no need for any capital investment for hardware, small upfront costs and no administrative overhead to maintain.

We think these are ten (10) pretty good reasons why you should consider Filetwin. If you’d like to speak with one of our Backup Specialists in person, please contact us at 1 877 310-2884 and we’d be glad to answer any questions you might have.

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