Chapter REEB 25

REEB 25.033(8) (8) Real estate contracts. Instruction relating to real estate contracts shall include all of the following:

REEB 25.033(8)(a) (a) Contract law.

REEB 25.033(8)(b) (b) Elements of a valid contract.

REEB 25.033(8)(c) (c) Performance of contract.

REEB 25.033(8)(d) (d) Discharging of contract.

REEB 25.033(8)(e) (e) Default or breach of contract.

REEB 25.033(8)(f) (f) Forms used in real estate under ch. REEB 16, including all of the following:

REEB 25.033(8)(f)1. 1. Listing agreements under s. 240.10, Stats.

REEB 25.033(8)(f)2. 2. Offers to purchase.

REEB 25.033(8)(f)3. 3. Addenda.

REEB 25.033(8)(f)4. 4. Buyer agency agreements.

REEB 25.033(8)(f)5. 5. Counter-offers.

REEB 25.033(8)(f)6. 6. Multiple counter-proposals.

REEB 25.033(8)(f)7. 7. Amendments.

REEB 25.033(8)(f)8. 8. Notices.

REEB 25.033(8)(f)9. 9. Understanding closing statements.

REEB 25.033(8)(f)10. 10. Disclosure forms, including all of the following:

REEB 25.033(8)(f)10.a. a. Seller condition report.

REEB 25.033(8)(f)10.b. b. Agency.

REEB 25.033(8)(f)10.c. c. Buyer and seller disclosure.

REEB 25.033(8)(f)11. 11. Cancellation agreement and mutual releases.

REEB 25.033(8)(f)12. 12. Options.

REEB 25.033(8)(f)13. 13. Bills of sale.

REEB 25.033(8)(f)14. 14. Exchanges.

REEB 25.033(8)(g) (g) Agreement to arbitrate real estate transaction disputes under s. 788.015, Stats.

REEB 25.033(9) (9) Title records and transfers of title. Instruction relating to real estate title records and transfers of title shall include all of the following:

REEB 25.033(9)(a) (a) Requirements of a valid conveyance under ss. 240.10, 706.02 and 706.03, Stats.

REEB 25.033(9)(b) (b) Types of deeds.

REEB 25.033(9)(c) (c) Involuntary alienation.

REEB 25.033(9)(d) (d) Probate.

REEB 25.033(9)(e) (e) Transferring of a title by will.

REEB 25.033(9)(f) (f) Public records and recording.

REEB 25.033(9)(g) (g) Evidence of title.

REEB 25.033(9)(h) (h) Conveyance defined under s. 706.01, Stats.

REEB 25.033(10) (10) Real estate finance and basic math. Instruction relating to real estate finance and basic math shall include all of the following:

REEB 25.033(10)(a) (a) Buyer qualification.

REEB 25.033(10)(b) (b) Mortgage instruments.

REEB 25.033(10)(c) (c) Payment plans.

REEB 25.033(10)(d) (d) Provisions for default; assignment; release and subject to.

REEB 25.033(10)(e) (e) Land contracts.

REEB 25.033(10)(f) (f) Secondary mortgage market.

REEB 25.033(11) (11) Appraisal and market analysis. Instruction relating to real estate appraisal and market analysis shall include all of the following:

REEB 25.033(11)(a) (a) Basic principles of value.

REEB 25.033(11)(b) (b) Direct market comparison approach.

REEB 25.033(11)(c) (c) Cost approach.

REEB 25.033(11)(d) (d) Income approach.

REEB 25.033(11)(e) (e) Appraisal process.

REEB 25.033(12) (12) Fair housing laws. Instruction relating to real estate fair housing laws shall include all of the following:

REEB 25.033(12)(a) (a) Equal opportunity in housing.

REEB 25.033(12)(b) (b) Federal fair housing law.

REEB 25.033(12)(c) (c) Blockbusting, steering and redlining.

REEB 25.033(12)(d) (d) Equal rights under s. 106.50, Stats.

REEB 25.033(12)(e) (e) Organizations.

REEB 25.033(13) (13) Ethical real estate practices. Instruction relating to ethical real estate practices shall include all of the following:

REEB 25.033(13)(a) (a) Chapter REEB 24.

REEB 25.033(13)(b) (b) Ethical business conduct, including all of the following:

REEB 25.033(13)(b)1. 1. Direct contact with the public, including all of the following:

REEB 25.033(13)(b)1.a. a. Competence in area of service under s. REEB 24.03.

REEB 25.033(13)(b)1.b. b. Tie-in arrangements under s. REEB 24.075.

REEB 25.033(13)(b)1.c. c. Agreements in writing under s. REEB 24.08.

REEB 25.033(13)(b)1.d. d. Misleading market values under s. REEB 24.09.

REEB 25.033(13)(b)1.e. e. Net listings under s. REEB 24.10.

REEB 25.033(13)(b)2. 2. Advertising under s. REEB 24.04 and s. 452.136, Stats.

REEB 25.033(13)(b)3. 3. Completing and presenting written proposals under ss. REEB 24.12 and 24.13., including all of the following:

REEB 25.033(13)(b)3.a. a. Confidentiality.

REEB 25.033(13)(b)3.b. b. Drafting and submitting offers.

REEB 25.033(13)(b)3.c. c. Prompt delivery to buyer.

REEB 25.033(13)(b)3.d. d. Fair presentation of offers.

REEB 25.033(13)(b)3.e. e. Prompt notification.

REEB 25.033(13)(b)4. 4. Disclosure of compensation and interest under s. REEB 24.05 and s. 452.133, Stats., including all of the following:

REEB 25.033(13)(b)4.a. a. Disclosing of interest.

REEB 25.033(13)(b)4.b. b. Referral services.

REEB 25.033(13)(b)4.c. c. Disclosing of profits.

REEB 25.033(13)(b)4.d. d. Disclosing of licensure.

REEB 25.033(14) (14) Consumer protection. Instruction relating to consumer protection shall include all of the following:

REEB 25.033(14)(a) (a) Property inspections under s. REEB 24.07 (1) (a).

REEB 25.033(14)(b) (b) Inquiry by listing firm under s. REEB 24.07 (1) (b).

REEB 25.033(14)(c) (c) Disclosure of material adverse facts under s. REEB 24.07 (2).

REEB 25.033(14)(d) (d) Disclosure of material suggesting adverse material facts under s. REEB 24.07 (3).

REEB 25.033(14)(e) (e) Disclosure of side agreements under s. REEB 24.07 (4).

REEB 25.033(14)(f) (f) Reliance upon third parties under s. REEB 24.07 (5).

REEB 25.033(14)(g) (g) Investigations and inspections under s. 452.23, Stats.

REEB 25.033(14)(h) (h) Civil liability for misrepresentation.

REEB 25.033(14)(i) (i) Seller’s disclosure duties under ch. 709, Stats.

REEB 25.033(15) (15) Leases. Instruction relating to real estate leases shall include all of the following:

REEB 25.033(15)(a) (a) Leasehold estates.

REEB 25.033(15)(b) (b) Standard lease provisions.

REEB 25.033(15)(c) (c) Lease documents.

REEB 25.033(15)(d) (d) Legal principles of leases.