How Long NJ Brokers Must Keep Transaction Records

The short answer: Most NJ brokerage records must be kept for six years. Records of money held for others are kept for at least six years from the date the funds were received. Transaction records where the broker held no money (listings, contracts, leases, bills and commission payment records) are kept for six years from the date of the listing or management agreement or of the contract or lease, whichever came first. The main exception is unaccepted offers and expired listings that never led to a deal, which are kept for six months (N.J.A.C. 11:5-5.4). Records stay at the broker's office, and an agent who leaves the firm can't take them (N.J.A.C. 11:5-5.5(c), as amended).

This page summarizes NJ Real Estate Commission rules for students and new licensees. It isn't legal or accounting advice. Brokers should confirm their own obligations with the Commission or their attorney.

Which records have which retention period?

What do the escrow records have to include?

The trust-account rule is detailed because it's where regulators look first. For money held for others, the broker's records must include (N.J.A.C. 11:5-5.4(b)):

• checkbook entries for every deposit and withdrawal, showing date, amount, payor, property and purpose
• a ledger with a separate history for each trust transaction (a regular checkbook ledger isn't enough)
• records showing the checkbook, bank statement and client ledger were reconciled at least quarterly
• bank statements, canceled checks and duplicate deposit slips
• copies of offers, contracts, listing agreements, leases and property management agreements
• disbursement statements, bills paid from escrow (only with written authorization), and records of payments to the firm's licensees and cooperating brokers
• receipts for tenants' security deposits and the paperwork for releasing them

When a broker takes trust money in cash, the licensee who accepted it must give the payor a signed receipt showing the date, amount, purpose and payor. The broker keeps a copy (N.J.A.C. 11:5-5.4(a)1). Escrow withdrawals can only be made by authorized bank transfer or by check to a named payee, never to cash (N.J.A.C. 11:5-5.4(b)1). See our earnest money deposit guide for how deposits move through a NJ deal.

Can records be kept electronically?

Yes. Records can be kept on paper or stored electronically, as long as the data can be readily reproduced on paper to show the complete history and stays easily accessible for the six-year period. The rule specifically covers items created by email or other paperless means. Licensees may be asked to certify that reproduced data is accurate (N.J.A.C. 11:5-5.4(e)).

Where must the records be kept?

At the broker's main New Jersey office. If a branch office keeps its own business or trust accounts, those records may be kept at that branch or at the main office. Records must be kept in line with generally accepted accounting practice and be available for inspection and copying by the Commission (N.J.A.C. 11:5-5.4(e)). The Commission can also subpoena records, administer oaths and hold hearings as part of an investigation (N.J.A.C. 11:5-5.5(a)–(b), as amended).

Can an agent take files when leaving a brokerage?

No. Files on pending and closed sales, exchanges and leases, listing files and property management files are kept at the employing broker's office. A salesperson or broker-salesperson who leaves or transfers may not remove them. "Files" means all the transaction records the broker must keep under 11:5-5.4 (N.J.A.C. 11:5-5.5(c), as amended). Your contact list and business tools are a separate question. Our CRM guide for new agents explains the difference.

What a departing agent is owed is paperwork about pay. Within 30 days after an agent leaves, the broker must give a written accounting of money due now or later. The broker keeps that accounting for six years (N.J.A.C. 11:5-4.1(e)–(f), as amended). Our guide to commission split plans covers the agreements behind it.

What happens to records when a brokerage closes?

The duty doesn't end when the office does. A closing broker acknowledges responsibility to keep records under 11:5-5.4, gives the address where they'll be stored, and must tell the Commission about any change in the custodian or storage location for six years. When a firm substitutes a new broker of record, the records go to the new broker, who accepts responsibility for keeping them for six years (N.J.A.C. 11:5-3.9(c)9 and (e)7, as amended). See what happens when your broker closes.

How do other record rules compare?

Two related clocks are easy to mix up on the exam:

• Pre-licensing schools keep student records (hours, attendance, subjects and instructors) for at least three years after the student enrolls (N.J.A.C. 11:5-2.2(r), as amended).
• CE providers keep completion and evaluation records for six years (N.J.A.C. 11:5-12.8(b), as amended).

For your own CE, the Commission advises keeping the proof of completion your provider gives you, in case questions come up about your credits (NJREC CE FAQ #11). The CE requirements page has the hours and deadlines.

Is this on the NJ real estate exam?

Yes. "Records, including Escrow Account Bookkeeping Requirements" and "Maintenance of Records" are both listed in the NJ-specific part of the PSI content outline (PSI candidate bulletin). The NJ state-portion study guide maps each of those topics to its rule.

These rules are part of the license-law section of pre-licensing study. Business Elementary's 75-hour course is one place to learn them.

Sources

• N.J.A.C. 11:5-5.4, Records to be maintained by broker (Cornell LII): https://www.law.cornell.edu/regulations/new-jersey/N-J-A-C-11-5-5-4
• N.J.A.C. 11:5-6.9, Consumer Information Statement (Cornell LII): https://www.law.cornell.edu/regulations/new-jersey/N-J-A-C-11-5-6-9
• NJ Real Estate Commission rule adoption R.2026 d.020, 58 N.J.R. 803 (Jan. 20, 2026), including 11:5-2.2, 3.9, 3.11, 4.1, 5.5 and 12.8: https://www.nj.gov/dobi/proposed/aa260120njac11_5.pdf
• NJREC Continuing Education FAQs: https://www.nj.gov/dobi/division_rec/licensing/continuingeducation/faqs.htm
• PSI New Jersey Real Estate Candidate Information Bulletin (updated 2/1/2026): https://test-takers.psiexams.com/api/content/bulletin/1667

Last reviewed: November 11, 2026