Auditing

Is the designated broker required to review all rental agreements?

May a broker advertise a property for lease without having a signed property management agreement?

What should be done to document a property management agreement?

Under what name may a property manager perform property management services?

Is a real estate license required to conduct property management services?

What is Property Management?

May a broker assign a real estate employment agreement to another broker?

What are the requirements for a real estate employment agreement?

Is a real estate employment agreement required?

Who may act as a signer on the broker’s trust account?

Frequently Asked Questions

What is the purpose of the Broker Audit Declaration?

The Broker Audit Declaration serves two functions. (1) To provide information to the Department’s Auditing Staff about the broker’s real estate practice since the last renewal period; and, (2) To provide the broker with an overview of the current Arizona Revised Statutes and Commissioner’s Rules applicable to licensed brokers and confirm that the broker is complying with those statutes and rules.

Is the broker required to submit the Audit Declaration Form with the broker's license renewal or employing broker's (entity) license renewal?

A designated and/or self-employed broker is required to complete and submit a Broker Audit Declaration form prior to or with the broker’s license renewal, pursuant to the Commissioner’s Rule R4-28-303(A)(2)(f). A Broker Audit Declaration form is not required for the renewal of an entity license.

If a broker is semi-retired and doesn't use the real estate license often, does the broker have to complete and submit a Broker Audit Declaration Form with the broker's license renewal?

Yes, any designated and/or self-employed broker with an active license must complete the Broker Audit Declaration as part of the broker’s license renewal process regardless of whether or not real estate business has been conducted. If real estate business has not been conducted, most of the answers will be “N/A”.

More questions?

Review our frequently asked questions about the process and more.

VIEW THE FAQ

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