What is the general rule for how a salesperson should handle earnest money received from a buyer?

A salesperson who receives earnest money or other trust funds must not hold them personally or deposit them in a personal account. The general rule is that the salesperson promptly delivers the funds to their employing broker, who deposits them into the brokerage trust (escrow) account within the time required by state law. The money is then held and accounted for until the transaction closes or the parties agree on its disposition. Holding, depositing personally, or delaying delivery of trust funds is a serious violation. While exact deposit deadlines vary by state, the principle that the salesperson channels trust money to the broker for proper handling is consistent.