What is NOT required to be documented by a licensee according to real estate practices?

In the realm of real estate practices, licensees are required to document various aspects of their transactions to ensure transparency and legality. Verbal agreements, while they can be a part of negotiations, are typically not mandated to be documented. This is because they can often lead to misunderstandings and disputes due to their informal nature. Documentation is critical in establishing clear terms and protecting the interests of all parties involved.

On the other hand, written agreements are essential as they provide a formalized record of the terms agreed upon, ensuring that there is no ambiguity. Transaction details, including timelines, parties involved, and specifics of the sale or lease, also need to be documented for reference and compliance with state regulations. Lastly, client communications must be logged to maintain a clear record of interactions, which is important for maintaining fiduciary duties and accountability. Thus, the lack of necessity to document verbal agreements distinguishes it from the other required forms of documentation.