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(e) Disclosure of side agreements under s. REEB 24.07 (4).
(f) Reliance upon third parties under s. REEB 24.07 (5).
(g) Investigations and inspections under s. 452.23, Stats.
(h) Civil liability for misrepresentation.
(i) Seller’s disclosure duties under ch. 709, Stats.
(15) Leases. Instruction relating to real estate leases shall include all of the following:
(a) Leasehold estates.
(b) Standard lease provisions.
(c) Lease documents.
(d) Legal principles of leases.
(e) Improvements.
(f) Maintenance.
(g) Breach.
(h) Residential rental practices under ss. ATCP 134.02, 134.06, and 134.09.
(16) Property Management. Instruction relating to property management shall include all of the following:
(a) Functions of property manager.
(b) Management agreement.
(c) Management considerations.
(d) Renting and maintaining the property.
(e) Risk management.
(17) Land use control and development. Instruction relating to land use control and development shall include all of the following:
(a) Public controls.
(b) The comprehensive plan.
(c) Zoning.
(d) Subdivision regulations.
(e) Private land-use controls.
(f) Building codes.
(g) Land development.
(h) Subdividing.
(18) Environmental concerns. Instruction relating to real estate environmental concerns shall include all of the following:
(a) Radon.
(b) Asbestos.
(c) Lead-based paint.
(d) Toxic waste.
(e) Underground storage tanks under ch. ATCP 93.
(f) Floodplains under s. 87.30, Stats., and ss. NR 116.01 and 116.06.
(g) Flood insurance.
(h) Wetlands under s. 23.32, Stats.
(i) Farmland preservation under ss. 91.01, and 91.60 to 91.70, Stats.
(k) Disclosure documents under s. 452.23 and ch. 709, Stats., and s. REEB 24.07.
(19) Miscellaneous Wisconsin license laws. Instruction relating to miscellaneous Wisconsin license laws shall include all of the following:
(a) Chapter REEB 15.
(b) Chapter REEB 16.
(c) Chapter REEB 17.
(d) Chapter REEB 18, including all of the following:
1. Definition of trust account.
2. Interest-bearing and non-interest bearing accounts.
3. Definition of trust funds.
4. When a trust account is required.
5. Deposit of trust funds.
(e) Chapter REEB 23.
(f) Property rights of married persons under ss. 766.31, 766.51, 766.60 and 766.63, Stats.
(g) Mortgage banking under s. 224.71, Stats.
(h) Escrow agreement procedures, including all of the following:
1. Escrows requiring separate escrow agreements.
2. Pre-closing earnest money escrows.
3. Post-closing escrows.
4. Escrows not requiring separate escrow agreement.
5. Drafting escrow agreements.
History: CR 15-010: cr. Register September 2015 No. 717, eff. 10-1-15; CR 17-100: am. (14) (b) Register July 2018 No. 751, eff. 8-1-18; CR 19-128: r. (18) (j) Register January 2021 No. 781, eff. 2-1-21; CR 23-075: am. (3) (h), (i), (8) (f) 5., 6., 11. to 14., (13) (b) 2., 4. (intro.), (17) (b) Register August 2024 No. 824, eff. 9-1-24.
REEB 25.038 Nonresident salesperson education equivalency. An applicant who has held an active real estate salesperson’s license in another licensing jurisdiction within the 2 year period prior to filing an application for a real estate salesperson’s license in this state is deemed to have met the equivalency to the salesperson program education based upon the applicant’s education required to obtain a license in the other licensing jurisdiction and completion of Wisconsin specific education consisting of 13 hours and containing the following content:
(1) Contracts, including all of the following:
(a) Law of conveyances, including all of the following:
1. Conveyance defined under s. 706.01, Stats.
2. Requirements for a valid conveyance under ss. 706.02 and 706.03, Stats.
(b) Chapter REEB 16.
(c) Review of forms approved by the board, including all of the following:
1. Listing contracts.
2. Offers to purchase.
3. Addenda.
4. Buyer agency agreements.
5. Counter-offers.
6. Multiple counter-proposals.
7. Amendments.
8. Notices.
9. Options.
10. Bills of sale.
11. Exchanges.
12. Cancellation agreement and mutual releases.
(2) Agency, including all of the following:
(a) Duties owed to parties and clients under s. 452.133, Stats.
(b) Requirement for an agency agreement and disclosure of agency under s. 452.135, Stats.
(c) Revisions to common law duties and responsibilities under s. 452.139, Stats.
(3) Agency relationship, including all of the following:
(a) Multiple representation with designated agency.
(b) Multiple representation without designated agency.
(c) Single agency.
(4) Business conduct, including all of the following:
(a) Direct contact with the public, including all of the following:
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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.