Because if they warp, they don't sound right.

A serious answer to this broad question may take a blog post or a book, but Alan May does present a good one for a chuckle tonight.

They are very helpful at tax time, if you get audited... or, God forbid, you get sued.

In NC you better have good ones.The NC Real Estate Commission audits them periodically! They are very important if you get sued!

If something is contested...documents support the original action & premise

Try not keeping them and see what happens when you need them. Besides, there are laws about keeping records

Our CPA requires it, as does our real estate Commission!

The judge will not take your word for it.

NOTE: the IRS wants 3rd party verification.

Laura,

This question was asked before, click on the link below to view all the previous  answers:

https://activerain.com/questions/show/39069/why-is-keeping-good-records-important-

The cost of vinyl has gone up over the years so you want to keep those good records Laura Dalton 

Three letters: I.R.S.

So you can always go back & say what was done, if it comes into question. 

I would say to reduce potential risk and liability... but why do you think it's important? I would think the answer to this is fairly self-evident.

If a former client ever files suit or a complaint, or if there is an IRS audit good record keeping will be very important.

How important is your license to you?

To keep the tax man happy, for one. To determine whether a particular investment is providing a return. To choose marketing locations and tools. 

Well Alan May has a good tongue in cheek response, but seriously there are legal reasons to keep good records for liability and risk reduction purposes. Think about the IRS and an audit as just one example.

 Just in case the Russians are asked to find them.

Good records will help you build your business and keep you out of trouble.

If you ever are audited by the IRS you will have the perfect answer to your general question.

I know that you are referencing real estate records so I will say the same revelation will hit you if you are ever sued by a disgruntled client.

He who keeps good records will win against the fool that does not. 

I wish you all the best with your real estate studies. 

Laura Dalton to avoid future problems.

Because you may need them.

first and foremost, for tax purposes..... if you ever get audited, you'd better have proof of your deductions!!!  

Hopefully you never will be in a lawsuit.

Your records can be audited.  And it give one an immense amount of peace of mind. A

Not an issue any more. 7 year retention. After that unsubscribe the cloud storage subscription. Pull the plug. Key is next to insert. Done!

Because there will be a day you will need to go back and look to see what happened.

If you get audited you will know better next time.