An internal directive has been issued by the California Department of Real Estate (“DRE”) to start broker office surveys (“BOS”). The BOS will include an unannounced and unscheduled visit to brokers’ offices and include an audit of random files the DRE requests. It is anticipated that the DRE will ask to see records from different transactions or random transaction files upon the visit. Brokers need to be prepared for a potential BOS as they are currently being scheduled to start in 2013.
-Shannon B. Jones, Partner