What must brokers maintain regarding their sponsored salespeople?

Brokers are required to maintain current written policies and procedures concerning the supervision and operation of their sponsored salespeople. This is crucial for ensuring compliance with real estate regulations and maintaining a professional standard within the brokerage. Having clear, documented policies facilitates training, outlines expectations, and establishes protocols for handling various situations that may arise in the course of business.

While personal performance reviews can be beneficial for individual salespeople, they are not a mandatory requirement for the broker to maintain. Similarly, having a high level of commission may be a business strategy, but it does not pertain to regulatory obligations. Good standing with local real estate boards is important for a broker but is not a specific requirement regarding the management of salespeople. The focus on written policies ensures that brokers have a structured approach to managing their team, which is a key aspect of effective brokerage operations.