Which of the following statements is NOT correct under the Division Rules?

The correct answer indicates a misunderstanding of the obligations agents have to their clients regarding documentation transparency. Under the Division Rules, while agents are responsible for maintaining proper documentation and transparency in the transaction process, they typically are not required to provide copies of all documents from both sides of the transaction unless explicitly stated or required by specific agreements or regulations.

The expectation for an agent is to keep their clients informed and provide necessary documents that pertain to their direct representation in the transaction rather than being obligated to provide documentation from the other party's side. This is why the declaration that an agent must give clients copies of documents from both sides is not consistent with the Division Rules.

In contrast, the other statements reflect established practices within real estate transactions. Licensees are indeed required to keep their broker informed about their transactions to ensure proper oversight and compliance. Additionally, net listings, which can pose conflicts of interest, are prohibited, underscoring the importance of ethical practices in real estate. Lastly, the rule about the principal broker not being able to retain earnest money without mutual consent aligns with safeguards meant to protect all parties in a transaction, ensuring fairness and clarity in dealings.