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2. Office supervision under s. 452.132, Stats.
(i) Agency relationships, including all of the following:
1. Multiple representation with designated agency.
2. Multiple representation without designated agency.
3. Single agency.
(8) Consumer protection. Instruction relating to real estate consumer protection shall include all of the following:
(a) Disclosure, including all of the following:
1. Property inspections under s. REEB 24.07 (1) (a).
2. Investigation of other facts under s. REEB 24.07 (1) (b).
3. Use of third party inspectors under s. REEB 24.07 (5).
4. Property condition under s. 452.23, Stats.
5. Civil liability for misrepresentation.
6. Seller’s disclosure duties under ch. 709, Stats.
7. Buyer’s inspection obligation.
(b) Fair housing, including all of the following:
1. Federal law.
2. State of Wisconsin law.
3. Local fair housing law.
4. Sanctions for violations.
5. Testers and fair housing organizations.
6. Conduct prohibited by fair housing law.
7. Responding to fair housing questions.
8. Instituting equal professional service procedures.
(c) Antitrust: conspiracy and group boycotts, including all of the following:
1. Section 1 of the Sherman Act.
2. “Conspiracy” requirement.
3. “Restraint of trade” requirement.
4. Compensation and “prices” that have been fixed.
5. Situations creating inferences of price fixing.
6. How to respond to antitrust situations.
7. Elements same as price fixing, including conspiracy and restraint of trade.
8. Situations creating inference of boycott.
(d) Complaint handling procedures, including all of the following:
1. Consumer satisfaction.
2. Liability avoidance.
3. Feedback on fair housing or other law violations.
4. Preventing complaint through education.
5. Documenting the compliant handling program in policy and procedures manual.
6. Informing the parties of the complaint handling program.
7. Dispute resolution systems.
(e) Environmental factors, including all of the following:
1. Underground storage tanks, including registration and closure.
2. Asbestos.
3. Radon.
4. Lead-based paint.
5. Procedures for high risk properties.
6. Wetlands and floodplain.
(f) Education buyers and sellers, including all of the following:
1. Property inspection and disclosing of defects.
2. Earnest money procedures.
3. Licensees’ responsibilities and expertise.
4. Utilizing third party experts.
(9) Specialty areas. Instruction relating to real estate specialty areas shall include all of the following:
(a) Property management, including all of the following:
1. Management contracts.
2. Insurance liability.
3. Security deposits.
4. Breach of lease.
5. Property inspections.
6. Tenant and landlord rights and obligations under ch. ATCP 134.
7. Rules regarding negotiating leases.
(b) Business opportunities, including all of the following:
1. Special expertise and licensing requirements under s. REEB 24.03.
2. Approved forms.
(c) Selling specialized properties as a brokerage activity.
(d) Alternative marketing methods, including all of the following:
1. Exchanges.
2. Installment sales.
3. Cooperatives.
(e) Mortgage banking, including all of the following:
1. Definitions of mortgage banker, loan originator and loan solicitor.
2. When separate registration is needed.
3. Real Estate Settlement Procedures Act.
(f) Real estate appraisal.
(g) Farms.
(h) Auctions.
(i) Mobile homes.
(j) Time-Share, including familiarity with ch. 707, Stats., when selling time-shares.
(10) Notifying the department. Instruction relating to notifying the department shall include all of the following:
(a) Change of name, address or trade name under ch. REEB 23.
(b) Criminal conviction under s. 440.03 (13) (am), Stats.
History: CR 15-010: cr. Register September 2015 No. 717, eff. 10-1-15; CR 17-100: r. (4) (a) 3. Register July 2018 No. 751, eff. 8-1-18; CR 23-075: am. (2) (c) 1. to 10., (6) (d), (7) (d) (intro.), (f) 1., (g) 1., r. (7) (h) Register August 2024 No. 824, eff. 9-1-24.
REEB 25.028 Nonresident broker education equivalency. An applicant who has held an active real estate broker’s license in another licensing jurisdiction within the 2 year period prior to filing an application for a real estate broker’s license in this state is deemed to have met the equivalency to the business management and salesperson program education based upon the applicant’s education required to obtain a license in the other licensing jurisdiction and the completion of Wisconsin specific education consisting of all of the following:
(1) Business management education consisting of 6 hours, including all of the following:
(a) Broker-only contracts and contract issues, including all of the following:
1. Reynolds v. Dinger, 14 Wis. 2d 193.
2. State bar forms under s. REEB 16.03 (1).
3. Uniform commercial code forms under s. REEB 16.03 (1).
4. Forms used in other states.
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Published under s. 35.93, Stats. Updated on the first day of each month. Entire code is always current. The Register date on each page is the date the chapter was last published.