LRB-3852/1
JPC:amn
2023 - 2024 LEGISLATURE
September 6, 2023 - Introduced by Representatives Armstrong, Behnke, Macco,
O'Connor and Schmidt, cosponsored by Senators Stroebel, Knodl,
Nass and
Roys. Referred to Committee on Housing and Real Estate.
AB407,1,2
1An Act to amend 452.136 (3) (title); and
to create 452.136 (3) (c) of the statutes;
2relating to: advertising real property as for sale by owner.
Analysis by the Legislative Reference Bureau
Under current law, a licensed real estate broker may not advertise a property
unless the broker becomes the listing firm for the property or obtains consent to
advertise the property from the listing firm. This bill allows brokers to advertise real
property being sold directly by the owner without a listing agreement if the broker
enters into a written agreement with the property owner and the broker prominently
states in any advertisement that the property is for sale by owner, that the property
is being advertised at the property owner's request, and that the property is not
subject to a listing agreement with a listing firm.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB407,1
3Section
1. 452.136 (3) (title) of the statutes is amended to read:
AB407,1,54
452.136
(3) (title)
Advertising without agency agreement or written consent
5prohibited.
AB407,2
6Section
2. 452.136 (3) (c) of the statutes is created to read:
AB407,2,5
1452.136
(3) (c) The property is being sold by the property owner without an
2agency agreement and the firm or a licensee associated with the firm has obtained
3the written consent of the property owner to advertise the property. All
4advertisements of properties under this paragraph shall prominently state all of the
5following:
AB407,2,66
1. The property is for sale by owner.
AB407,2,77
2. The firm is advertising the property at the property owner's request.
AB407,2,88
3. The property is not subject to a listing agreement with a listing firm.
