What action is advisable for brokers when dealing with escrow accounts?

Keeping a written record of all transactions related to escrow accounts is essential for brokers. This practice provides a clear and organized way to track all funds received and disbursed. Accurate record-keeping helps ensure accountability and transparency, which are critical components of managing escrow accounts. Additionally, maintaining detailed records can protect brokers from potential disputes or misunderstandings regarding the handling of clients' funds. This practice also aligns with legal and regulatory requirements, ensuring compliance with state laws governing real estate transactions and the handling of escrow funds.

In contrast, using personal accounts for deposit flexibility can lead to co-mingling of funds, which is prohibited and can create significant legal and ethical issues. Limiting the number of transactions would not be practical or effective in managing an escrow account, as it could hinder business operations and affect client satisfaction. Accepting cash payments only is also not advisable, as it can make tracking transactions more difficult and poses risks related to fraud and safety. Therefore, maintaining thorough written records stands out as the most responsible approach when managing escrow accounts.