Which of these is commonly a function of bank statements in real estate?

The function of bank statements in real estate, particularly when it comes to managing trust account funds, is crucial for ensuring accurate financial management and compliance with regulatory requirements. Trust accounts are often used by real estate professionals to hold client funds, such as security deposits or earnest money, and it is essential that these funds are accounted for properly.

By reconciling trust account funds using bank statements, a real estate agent or property representative can verify that the transactions recorded in their accounting system match the actual transactions that have occurred in the bank account. This process helps identify discrepancies, prevent fraud, and ensure that the funds are used appropriately and allocated correctly. Additionally, it aids in providing transparency to clients and ensuring that fiduciary responsibilities are upheld.

The other choices, while relevant to real estate in different contexts, do not pertain directly to the function of bank statements. Contracts are legally binding documents that outline the terms of agreements, while documenting sales prices pertains more to transaction records than to the financial reconciliation facilitated by bank statements. Likewise, creating marketing materials involves promotional strategies that are not related to the financial management aspects of real estate transactions.