Are you engaged in residential or commerical real estate property management in the State of California? If so, you need to know the real estate law and commissioner regulations and you will very likely be the subject of a property management trust account audit. The audit could be the difference between you keeping your real estate license, and having the BRe (Bureau of Real Estate) wanting to revoke your real estate license. In other words, you need to know what's going on, what the rules and regs are and basically prepare to respond to any BRE investigatoin letter, or BRE audit.
The failure to prepare could lead to loss of your real estate license, or license discipline) - often a suspended or restricted real estate license. This will show on the BRE database, (real estate licensee lookup) and may cost you future business.
Listen in as attorney steve discusses property managements audits of trust account and trust fund in California and the BRE accusation process in general.
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