The proposed rule will conform s. REEB 24.04 to s. 452.136, Stats. In addition, the Board will review the advertising provisions to determine whether any updates are necessary. 4. Detailed explanation of statutory authority for the rule (including the statutory citation and language):
15.08 (5) (b) Each examining board shall promulgate rules for its own guidance and for the guidance of the profession to which it pertains, and define and enforce professional conduct and unethical practices not inconsistent with the law relating to the particular trade or profession.
452.07 (1) The board shall promulgate rules for the guidance of the real estate profession and define professional conduct and unethical practice.
452.07 (3) The board may promulgate rules regarding advertising by brokers or salespersons that do not conflict with s. 452.136. 5. Estimate of amount of time that state employees will spend developing the rule and of other resources necessary to develop the rule:
50 hours. No other resources are necessary to develop the rule.
6. List with description of all entities that may be affected by the proposed rule:
Real estate brokers and salespersons
7. Summary and preliminary comparison with any existing or proposed federal regulation that is intended to address the activities to be regulated by the proposed rule:
None
8. Anticipated economic impact of implementing the rule (note if the rule is likely to have a significant economic impact on small businesses):
None to minimal. It is not likely to have a significant economic impact on small businesses.
Contact Person: Sharon Henes, Administrative Rules Coordinator, (608) 261-2377
