Once a sales associate receives a deposit from a buyer, by when must they give it to their employing broker?

When a sales associate receives a deposit from a buyer, they are required to deliver it to their employing broker by the end of the next business day. This requirement is in place to ensure that client funds are handled promptly and in accordance with the law. Timely deposit handling is crucial in maintaining trust between the buyer and the real estate professional, as well as ensuring compliance with real estate regulations.

Delaying the deposit could lead to issues such as misunderstandings or potential misappropriation of funds, which could jeopardize transactions and the integrity of the real estate practice. Thus, the next business day rule reinforces the importance of responsibility and accountability in real estate transactions.