Regarding closing statements, which statement is true?

The correct statement is that listing and selling brokers are required to retain copies of closing statements for at least three years. This retention period is important as it ensures that brokers maintain proper records of the transactions they have facilitated, which can be crucial for various reasons, including auditing, legal compliance, and resolving any potential disputes that may arise related to the transaction.

Maintaining detailed records helps protect both the broker and the clients by providing a trail of the financial aspects of the transaction, confirming that all parties received the relevant information and acted according to the agreements made. This practice aligns with the requirements set forth by regulatory bodies and is essential for good business practices in real estate.

In contrast, the other options do not accurately reflect the professional responsibilities regarding the delivery and retention of closing statements. For example, while brokers certainly play a role in providing closing documentation, the statement regarding all parties or the absence of responsibility for delivering closing statements does not align with the standard practices in the industry.