FACTS: Broker executes an employment (listing) agreement with seller for six (6) months.  The property does not sell within the six-month period.  The seller does not renew the listing with Broker.

ISSUE: How long does Broker have to retain a copy of the employment (listing) agreement?

ANSWER: Five (5) years.

DISCUSSION: 

A.R.S. § 32-2151.01(A) provides, in part, that “The records of each transaction and employment records shall be kept by the broker for a period of at least five (5) years from the date of the termination of the transaction or employment.”