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2. The requirement for an agency agreement and disclosure of agency under s. 452.135, Stats.
3. Revisions to common law duties and responsibilities under s. 452.139, Stats.
(k) Agency relationship, including all of the following:
1. Multiple representation with designated agency.
2. Multiple representation without designated agency.
3. Single agency.
(4) Listing agreements. Instruction relating to real estate listing agreements shall include all of the following:
(a) Listing property.
(b) Listing agreements under ch. REEB 16.
(c) Special listing provisions.
(d) Terminating listings.
(e) Obtaining listings.
(f) Pricing the property.
(g) Disclosures.
(h) Home warranties.
(5) Interests in real estate. Instruction relating to interests in real estate shall include all of the following:
(a) Government powers.
(b) Estates in land.
(c) Encumbrances.
(d) Water rights.
(e) Forms of ownership.
(f) Trusts.
(g) Ownership by business organizations.
(h) Cooperatives.
(i) Time-shares under ss. 70.095, 707.02, 707.05, 707.40, 707.47, and 707.49, Stats.
(j) Condominiums under ss. 703.08, 703.21 and 703.33, Stats.
(k) Homestead under ss. 706.01 (7) and 766.605, Stats.
(6) Legal descriptions. Instruction relating to real estate legal descriptions shall include all of the following:
(a) Methods of describing real estate.
(b) Land units and measurements.
(7) Taxes and other liens. Instruction relating to taxes and other liens shall include all of the following:
(a) Liens.
(b) Tax liens.
(c) General tax assessment, equalization, and tax bills.
(d) Mortgage liens.
(e) Construction liens.
(f) Judgments.
(g) Estate and inheritance tax liens.
(h) Other liens.
(i) Taxes under ss. 74.15 and 74.47 (1) and (2), Stats.
(j) Taxation and transfer fees under ss. 77.22 and 77.27, Stats.
(8) Real estate contracts. Instruction relating to real estate contracts shall include all of the following:
(a) Contract law.
(b) Elements of a valid contract.
(c) Performance of contract.
(d) Discharging of contract.
(e) Default or breach of contract.
(f) Forms used in real estate under ch. REEB 16, including all of the following:
1. Listing agreements under s. 240.10, Stats.
2. Offers to purchase.
3. Addenda.
4. Buyer agency agreements.
5. Counter-offers.
6. Multiple counter-proposals.
7. Amendments.
8. Notices.
9. Understanding closing statements.
10. Disclosure forms, including all of the following:
a. Seller condition report.
b. Agency.
c. Buyer and seller disclosure.
11. Cancellation agreement and mutual releases.
12. Options.
13. Bills of sale.
14. Exchanges.
(g) Agreement to arbitrate real estate transaction disputes under s. 788.015, Stats.
(9) Title records and transfers of title. Instruction relating to real estate title records and transfers of title shall include all of the following:
(a) Requirements of a valid conveyance under ss. 240.10, 706.02 and 706.03, Stats.
(b) Types of deeds.
(c) Involuntary alienation.
(d) Probate.
(e) Transferring of a title by will.
(f) Public records and recording.
(g) Evidence of title.
(h) Conveyance defined under s. 706.01, Stats.
(10) Real estate finance and basic math. Instruction relating to real estate finance and basic math shall include all of the following:
(a) Buyer qualification.
(b) Mortgage instruments.
(c) Payment plans.
(d) Provisions for default; assignment; release and subject to.
(e) Land contracts.
(f) Secondary mortgage market.
(11) Appraisal and market analysis. Instruction relating to real estate appraisal and market analysis shall include all of the following:
(a) Basic principles of value.
(b) Direct market comparison approach.
(c) Cost approach.
(d) Income approach.
(e) Appraisal process.
(12) Fair housing laws. Instruction relating to real estate fair housing laws shall include 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.