In Maine, real estate agents and brokerages are required to maintain records of communications and documents related to real estate transactions, including text messages if they contain material information. These requirements are enforced by the Maine Real Estate Commission (MREC) under the rules of the Maine Department of Professional and Financial Regulation (MDPFR).

1. Record Retention Requirements in Maine

Retention Period:
Under Maine Real Estate Commission Rule Chapter 400, brokers must retain all records related to real estate transactions for a minimum of three years from the date of the transaction's closure or from the expiration of the listing agreement.

Records to Be Retained:
Required records include:

• Contracts, offers, counteroffers, and listing agreements

• Transaction-related disclosures

• Correspondence, including electronic communications (emails and text messages) if they are material to the transaction

2. Inclusion of Text Messages

Material Communications:
Text messages that are considered part of the transaction record include:

• Negotiations, offers, or counteroffers

• Discussions regarding terms, fees, or conditions

• Client instructions or approvals

• Amendments, disclosures, or other transaction-related agreements

These messages must be retained as part of the overall transaction documentation.

Electronic Record Definition:
The MREC recognizes electronic communications as part of the "records and documents" that brokers must maintain, as long as they pertain to licensed activities.

3. Methods for Archiving Text Messages

Acceptable Archiving Practices:

• Manual Archiving: Text messages can be exported, saved digitally, or printed and stored with other transaction files.

• Automated Tools: Brokers can use compliance software designed to capture and archive text messages for efficient record retention.

• Centralized Recordkeeping: Records, including text messages, must be securely stored and accessible for inspection by the MREC during the required retention period.

4. Oversight and Inspections

Audit Authority:
The MREC has the authority to audit or inspect a brokerage's transaction records, including electronic communications, to ensure compliance.

Broker Responsibility:
Brokers are ultimately responsible for ensuring that all required records, including text messages, are retained for the statutory retention period.

5. Consequences of Non-Compliance

Regulatory Penalties:
Failure to retain required records, including text messages, may result in:

• Fines

• Disciplinary actions, such as suspension or revocation of licenses

Legal Risks:
Incomplete records could lead to legal disputes, claims of misrepresentation, or regulatory violations, increasing liability for brokers and agents.

6. Best Practices for Compliance

Establish a Policy:
Create a brokerage-wide policy requiring all agents to retain material text messages related to transactions.

Use Technology:
Leverage mobile device management or archiving software to automatically capture and store text messages for the required retention period such as Memo2File.com.

Educate Agents:
Train agents to identify and retain transaction-related communications, including text messages.

Perform Regular Audits:
Conduct routine checks to ensure compliance with the brokerage’s retention policy and identify gaps in record keeping.

Summary

In Maine, real estate brokers are required to retain all transaction-related records, including material text messages, for a minimum of three years under MREC Rule Chapter 400. Brokers and agents should treat text messages that pertain to offers, terms, disclosures, and negotiations as part of the official transaction record. Implementing clear policies, using automated archiving solutions, and conducting regular audits can help ensure compliance with Maine's record-keeping requirements and minimize risks.

Sample: Text Archive for Real Estate

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