How often should a broker review their written policies and procedures manual?

A broker should review their written policies and procedures manual at least annually to ensure that the document remains current and effective. This regular review is essential because laws, regulations, and industry standards can change frequently, impacting how a brokerage operates. By conducting an annual review, brokers can identify areas that require updates or changes, address compliance issues, and ensure that all agents are well-informed of their responsibilities and the operational protocols of the brokerage.

Regularly reassessing these policies and procedures helps create a culture of accountability and adherence to best practices, thereby minimizing risks and enhancing the overall functioning of the brokerage. This annual review process also allows brokers to incorporate feedback from agents and staff, making the manual more relevant and practical for everyday operations. In contrast, less frequent reviews would put the brokerage at risk of operating under outdated practices and could lead to legal or compliance issues.