A real estate brokerage uses a third-party document management system for all its electronic trade records. Which of the following is a key requirement under RECA Rules for such systems?

Question: A real estate brokerage uses a third-party document management system for all its electronic trade records. Which of the following is a key requirement under RECA Rules for such systems?

Answer options: ✅ The system must allow for records to be retrieved and produced to RECA on demand, without undue delay.

• The system can be located anywhere in the world, as long as it's cloud-based.
• The brokerage must pay for the system using only funds from the general account.
• The third-party provider must be a RECA-approved vendor.

Correct answer: The system must allow for records to be retrieved and produced to RECA on demand, without undue delay.

Explanation: RECA Rules Section 50(d) requires that all trade records, including electronic ones, must be 'accessible and capable of being produced to RECA on demand without undue delay'. This ensures regulatory oversight regardless of storage method.