Under TREC rules, a sales agent receives a $5,000 earnest money check from a buyer. Under TREC rules, what must the sales agent do with this check?
Correct Answer
B) Deliver the check promptly to the sponsoring broker for deposit into the broker's trust account
Under TREC rules, sales agents who receive earnest money must promptly deliver it to the sponsoring broker for deposit into the broker's trust account. The agent cannot hold, cash, or deposit client funds into personal accounts.
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