Final answer:
Brokers need to notify clients if they intend to put the clients' earnest money into an escrow account under the IREBEA program.
Step-by-step explanation:
According to the Interstate Real Estate Brokerage Act (IREBEA), brokers are required to notify their clients if they intend to put the client's earnest money into an escrow account. The IREBEA was established to regulate real estate brokerage activities across state lines.
By notifying the client of their intention to place the earnest money into an escrow account, brokers ensure transparency and provide the client with relevant information regarding the handling of their funds.
It is important for brokers to comply with the regulations set forth by the IREBEA to protect the interests and rights of their clients.