August 25, 2023 - Introduced by Senators Stroebel, Knodl, Nass and Roys, cosponsored by Representatives Armstrong, Behnke, Macco, O’Connor and Schmidt. Referred to Committee on Government Operations.
SB394,,22An Act to amend 452.136 (3) (title); and to create 452.136 (3) (c) of the statutes; relating to: advertising real property as for sale by owner. SB394,,33Analysis 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.
SB394,,44The people of the state of Wisconsin, represented in senate and assembly, do enact as follows: SB394,15Section 1. 452.136 (3) (title) of the statutes is amended to read: SB394,,66452.136 (3) (title) Advertising without agency agreement or written consent prohibited. SB394,27Section 2. 452.136 (3) (c) of the statutes is created to read: SB394,,88452.136 (3) (c) The property is being sold by the property owner without an agency agreement and the firm or a licensee associated with the firm has obtained the written consent of the property owner to advertise the property. All advertisements of properties under this paragraph shall prominently state all of the following: SB394,,991. The property is for sale by owner. SB394,,10102. The firm is advertising the property at the property owner’s request. SB394,,11113. The property is not subject to a listing agreement with a listing firm.
