Chapter REEB 25

REEB 25.038(5)(e) (e) Disclosure of side agreements under s. REEB 24.07 (4).

REEB 25.038(5)(f) (f) Reliance upon third parties under s. REEB 24.07 (5).

REEB 25.038(5)(g) (g) Investigations and inspections under s. 452.23, Stats.

REEB 25.038(5)(h) (h) Civil liability for misrepresentation.

REEB 25.038(5)(i) (i) Seller’s disclosure duties under ch. 709, Stats.

REEB 25.038(6) (6) Wisconsin fair housing law under s. REEB 24.03 (1),and ss. 66.1011 and 106.50, Stats.

REEB 25.038(7) (7) Environmental factors, including all of the following:

REEB 25.038(7)(a) (a) Underground storage tanks under ch. ATCP 93.

REEB 25.038(7)(b) (b) Floodplains under s. 87.30, Stats., and ss. NR 116.01 and 116.06.

REEB 25.038(7)(c) (c) Wetlands under s. 23.32, Stats.

REEB 25.038(7)(d) (d) Farmland preservation under ss. 91.01 and 91.60 to 91.70, Stats.

REEB 25.038(8) (8) Trust accounts and escrows, including all of the following:

REEB 25.038(8)(a) (a) Trust accounts under s. 452.13, Stats., and ch. REEB 18, including all of the following:

REEB 25.038(8)(a)1. 1. Definition of trust account.

REEB 25.038(8)(a)2. 2. Interest-bearing and non-interest bearing accounts.

REEB 25.038(8)(a)3. 3. Definition of trust funds.

REEB 25.038(8)(a)4. 4. When a trust account is required.

REEB 25.038(8)(a)5. 5. Deposit of trust funds.

REEB 25.038(8)(b) (b) Escrow agreement procedures, including all of the following:

REEB 25.038(8)(b)1. 1. Escrows requiring separate escrow agreements.

REEB 25.038(8)(b)2. 2. Pre-closing earnest money escrows.

REEB 25.038(8)(b)3. 3. Post-closing escrows.

REEB 25.038(8)(b)4. 4. Escrows not requiring separate escrow agreement.

REEB 25.038(8)(b)5. 5. Drafting escrow agreements.

REEB 25.038(9) (9) Miscellaneous issues, including all of the following:

REEB 25.038(9)(a) (a) Condominiums under ss. 703.08, 703.21, and 703.33, Stats.

REEB 25.038(9)(b) (b) Homestead under ss. 706.01 (7) and 766.605, Stats.

REEB 25.038(9)(c) (c) Taxes under ss. 74.15, and 74.47 (1) and (2), Stats.

REEB 25.038(9)(d) (d) Taxation and transfer fees under ss. 77.22 and 77.27, Stats.

REEB 25.038(9)(e) (e) Residential rental practices under ss. ATCP 134.02, 134.06 and 134.09.

REEB 25.038(9)(f) (f) Documents and records under ch. REEB 15.

REEB 25.038(9)(g) (g) Licensure and supervision of employees under ch. REEB 17.

REEB 25.038(9)(h) (h) Property rights of married persons under ss. 766.31, 766.51, 766.60, and 766.63, Stats.

REEB 25.038(9)(i) (i) Mortgage banking under s. 224.71, Stats.

REEB 25.038 History History: CR 15-010: cr. Register September 2015 No. 717, eff. 10-1-15; (1) (a) 1. and 2. renum. from (1) (a) a. and b. under s. 13.92 (4) (b) 1., Stats., Register September 2015 No. 717; CR 17-100: am. (5) (b) Register July 2018 No. 751, eff. 8-1-18; CR 19-128: r. (7) (e) Register January 2021 No. 781, eff. 2-1-21; CR 23-075: am. (intro.), (1) (c) 5. to 7., 9. to 12., (4) (b), (d) Register August 2024 No. 824, eff. 9-1-24.

REEB 25.055 REEB 25.055 Approval for pre-licensure education programs or courses.

REEB 25.055(1) (1) General.

REEB 25.055(1)(a) (a) The board may approve a pre-licensure education program if it covers all of the required content and hours in ss. REEB 25.023, 25.028, 25.033, or 25.038. The board may approve a pre-licensure education course if it alone or in conjunction with one or more other courses covers the content and hours required under ss. REEB 25.023, 25.028, 25.033, or 25.038.

REEB 25.055(1)(b) (b) Instructors shall be knowledgeable in the subject that they are teaching. An instructor whose real estate license has been limited, suspended or revoked may not instruct in a program or a course while the disciplinary action is in effect.

REEB 25.055(1)(c) (c) A school or organization may not discriminate against anyone on the basis of sex, race, color, sexual orientation, disability, religion, age, or national origin in its education program or courses.

REEB 25.055(2) (2) Approval. A school or organization seeking approval of a pre-licensure education program or course shall submit to the board at least 30 days prior to offering the program or course all of the following:

REEB 25.055(2)(a) (a) Application provided by the board.

REEB 25.055(2)(b) (b) Organizational structure of the school or organization.

REEB 25.055(2)(c) (c) Registration policies.

REEB 25.055(2)(d) (d) Promotional materials.

REEB 25.055(2)(e) (e) Detailed outline of each program or course with specific allocations of hours to each topic. A school or organization utilizing a curriculum, which has already been approved by the board, may provide verification of utilization of the approved curriculum to meet this requirement.

REEB 25.055(2)(f) (f) Method of instruction.

REEB 25.055(2)(g) (g) Method for ensuring the students who complete the course are the enrolled students.

REEB 25.055(2)(h) (h) Method for evaluating instructors and program.

REEB 25.055(2)(i) (i) Names of all instructors.

REEB 25.055(2)(j) (j) Evidence that each instructor is one of the following:

REEB 25.055(2)(j)1. 1. A person who is or has been engaged in the practice of teaching real estate courses at an accredited institution of higher education.

REEB 25.055(2)(j)2. 2. A person who is properly licensed or certified by the board or other governmental agency who, for at least 5 years continuously, has been engaged in the real estate aspects of any of the following:

REEB 25.055(2)(j)2.a. a. Appraising.

REEB 25.055(2)(j)2.b. b. Financing.

REEB 25.055(2)(j)2.c. c. Marketing.

REEB 25.055(2)(j)2.d. d. Brokerage management.

REEB 25.055(2)(j)2.e. e. Real property management.

REEB 25.055(2)(j)2.f. f. Real estate counseling.

REEB 25.055(2)(j)2.g. g. Real property law.

REEB 25.055(2)(j)3. 3. A member of the Wisconsin state bar who is engaged in the field of real estate related law.

REEB 25.055(2)(j)4. 4. A person who, in the judgment of the board, is qualified by experience or education to teach a course of study.

REEB 25.055(3) (3) Changes to program or course. A school or organization shall inform the board of any change in instructors and any substantive change in the information submitted in sub. (2) (a) to (j) within 10 days following the date of the change.

REEB 25.055(4) (4) Evidence of completion.

REEB 25.055(4)(a) (a) A school or organization shall provide all students with evidence of completion of the education program or course.

REEB 25.055(4)(b) (b) A certificate of completion may not be issued unless the student received all the required contents of the education program and course. A certificate of completion shall include all of the following:

REEB 25.055(4)(b)1. 1. Name of the school or organization.

REEB 25.055(4)(b)2. 2. Name of the student.

REEB 25.055(4)(b)3. 3. Name of the program or course.

REEB 25.055(4)(b)4. 4. Number of hours.

REEB 25.055(4)(b)5. 5. Date of completion.

REEB 25.055(4)(b)6. 6. Signature of authorized person at the school or organization.

REEB 25.055(4)(c) (c) A school or organization shall maintain attendance and completion records for at least 5 years after a program or course has been conducted.

REEB 25.055 History History: CR 15-010: cr. Register September 2015 No. 717, eff. 10-1-15; CR 23-075: am. (1) (c) Register August 2024 No. 824, eff. 9-1-24.

REEB 25.065 REEB 25.065 Continuing education requirements for brokers and salespersons.

REEB 25.065(1) (1) Each licensed broker and salesperson shall satisfy the continuing education requirement specified in s. 452.12 (5) (c), Stats., during each licensing biennium.

REEB 25.065 Note Note: The contents of the continuing education programs and courses are not designated in the Wisconsin administrative code, pursuant to an exemption under s. 227.01 (13) (zj), Stats.

REEB 25.065(2) (2) A licensee may only satisfy the continuing education requirement by successfully completing the continuing education program or courses which are approved by the board before the programs or courses are conducted.

REEB 25.065(3) (3) A licensee shall submit evidence of completion of the continuing education requirement when applying for renewal of license. The department shall withhold issuance of the renewal license until such evidence is submitted and the licensee may not engage in the practice of real estate until having submitted such evidence and having received the license.

REEB 25.065(5) (5) A person who receives an original salesperson’s or broker’s license is required to satisfy the continuing education requirement during the biennium in which the person receives that license, except a person who receives an original salesperson’s license after October 1 in an even year is not required to satisfy the continuing education requirement during that biennium.

REEB 25.065(6) (6) A licensee may attend more than one school in order to complete approved courses which are part of the continuing education program designated by the board under s. 452.05 (1) (d) and (g), Stats.

REEB 25.065(8) (8) A licensee who acts as an instructor of an approved continuing education program or course may receive credit toward satisfaction of the licensee’s continuing education requirement. The licensee may not receive credit for teaching a specific course more than one time.

REEB 25.065(9) (9) The board may grant an extension of time for completion of the continuing education requirement by a licensee and the licensee may obtain a renewal license for the extension period for one of the following reasons:

REEB 25.065(9)(a) (a) Health reasons that prevented attendance at continuing education courses.

REEB 25.065(9)(b) (b) Active duty in the military service with assignment to a duty station outside Wisconsin.

REEB 25.065(9)(c) (c) Other compelling reasons beyond the control of the applicant while engaged in the real estate business.

REEB 25.065(10) (10) A licensee shall retain for a minimum period of 5 years and shall make available to the board, or its agent upon request, the evidence of completion issued by the school or organization for all continuing education programs for which the licensee claims credit for purposes of renewal of the license.

REEB 25.065 History History: Cr. Register, January, 1992, No. 433, eff. 2-1-92; am. (6m), r. (4), r. and recr. (5), Register, September, 1993, No. 453, eff. 10-1-93; am. (7), Register, July, 1998, No. 511, eff. 8-1-98; am. (5), Register, August, 1999, No. 524, eff. 9-1-99; correction in (2), (3), (6) to (9) made under s. 13.92 (4) (b) 6., 7., Stats., Register November 2011 No. 671; CR 13-100: am. (1) Register September 2014 No. 705, eff. 10-1-14; CR 15-010: am. (2), (5), r. (6m), (7), am. (8), (9) (a), (b), cr. (10) Register September 2015 No. 717, eff. 10-1-15.

REEB 25.068 REEB 25.068 Approval for continuing education programs or courses.