REEB 25.03(3)(r)3. 3. Chapter REEB 17 — licensure and supervision of employees.

REEB 25.03(3)(r)4. 4. Chapter REEB 18 — trust accounts.

REEB 25.03(3)(r)5. 5. Chapter REEB 23 — change of name, address, trade names.

REEB 25.03(3)(r)6. 6. Commercial bulk sales — ss. 406.101, 406.102, 406.103, 406.104, 406.105, 406.107, 406.108, Stats.

REEB 25.03 Note Note: Sections 406.101 to 406.108, Stats., were repealed by 2009 Wis. Act 110.

REEB 25.03(3)(r)7. 7. Property provisions for aliens and corporations — ss. 710.01, 710.02, Stats.

REEB 25.03(3)(r)8. 8. Property rights of married persons — ss. 766.31, 766.51, 766.60, 766.63, Stats.

REEB 25.03(3)(r)9. 9. Mortgage banking — s. 224.71, Stats., and s. DFI-Bkg 40.03 (4) (b).

REEB 25.03 Note Note: Section DFI-Bkg 40.03 (4) (b) no longer exists, eff. 1-1-10.

REEB 25.03 History History: Cr. Register, October, 1979, No. 286, eff. 11-1-79; am. (2) (intro.) and r. and recr. (2) (b), Register, April, 1981, No. 304, eff. 5-1-81; am. (2) (b), Register, June, 1982, No. 318, eff. 7-1-82; renum. from REB 16.03 and am. (2), Register, February, 1983, No. 326, eff. 3-1-83; r. and recr. Register, February, 1987, No. 374, eff. 6-1-87; r. and recr. Register, January, 1992, No. 433, eff. 2-1-92; am. (1), (3) (q) 10., (4), cr. (3) (h) 7., Register, September, 1993, No. 453, eff. 10-1-93; cr. (3) (q) 2m., r. (4), Register, July, 1997, No. 499, eff. 8-1-97; am. (3) (r) 9., Register, July, 1998, No. 511, eff. 8-1-98; am. (1), (3) (intro.), (a) (intro.), 6., (b) to (L) (intro.), 4. and (m) to (r), Register, August, 1999, No. 524, eff. 9-1-99; correction in (3) (L) 4. and 5. made under s. 13.93 (2m) (b) 7., Stats., Register November 2007 No. 623; correction in (3) (q) 4. made under s. 13.92 (4) (b) 7., Stats., Register January 2011 No. 661; correction in (1), (3) (d) 2., (h) 6. (intro.), (m) 1., (q) 4., 8., 9., 10., (r) 1. to 5. made under s. 13.92 (4) (b) 6., 7., Stats., Register November 2011 No. 671.

REEB 25.035 REEB 25.035  Satisfaction of salesperson's educational requirements by out-of-state applicants.

REEB 25.035(1) (1) 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 an original real estate salesperson's license in Wisconsin may satisfy the educational requirements of s. REEB 25.03 (3) if the applicant submits evidence of one of the following:

REEB 25.035(1)(a) (a) Completion of the educational program in sub. (2) at a school approved by the board under s. REEB 25.05 or 25.06.

REEB 25.035(1)(b) (b) Satisfaction of the 10 semester-hour waiver in s. REEB 25.03 (2).

REEB 25.035(2) (2) The contents of the educational program under this subsection shall include all of the following and shall be designed so that if the educational program were presented as classroom education, it would be presented in no less than 13 hours:

REEB 25.035(2)(a) (a) Contracts.

REEB 25.035(2)(a)1. 1. The law of conveyances.

REEB 25.035(2)(a)1.a. a. Conveyance defined — s. 706.01, Stats.

REEB 25.035(2)(a)1.b. b. Requirements for a void conveyance — ss. 706.02, 706.03, Stats.

REEB 25.035(2)(a)2. 2. Chapter REEB 16.

REEB 25.035(2)(a)3. 3. Review of forms approved by the board.

REEB 25.035(2)(a)3.a. a. Listing contracts.

REEB 25.035(2)(a)3.b. b. Offers to purchase.

REEB 25.035(2)(a)3.c. c. Counteroffer and multiple counteroffer.

REEB 25.035(2)(a)3.d. d. Amendment/notice.

REEB 25.035(2)(a)3.e. e. Buyer agency agreement.

REEB 25.035(2)(a)3.f. f. Grant of option.

REEB 25.035(2)(a)3.g. g. Bill of sale.

REEB 25.035(2)(a)3.h. h. Exchange agreement.

REEB 25.035(2)(a)3.i. i. Cancellation and mutual release.

REEB 25.035(2)(a)3.j. j. Other approved forms.

REEB 25.035(2)(b) (b) Agency.

REEB 25.035(2)(b)1. 1. Duties owed to parties and clients. — s. 452.133, Stats.

REEB 25.035(2)(b)2. 2. Requirement for an agency agreement and disclosure of agency — s. 452.135, Stats.

REEB 25.035(2)(b)3. 3. Multiple representation — s. 452.137, Stats.

REEB 25.035 Note Note: Section 452.137, Stats., was repealed by 2005 Wis. Act 87.

REEB 25.035(2)(b)4. 4. Revisions to common law duties and responsibilities — s. 452.139, Stats.

REEB 25.035(2)(c) (c) Business conduct.

REEB 25.035(2)(c)1. 1. Direct contact with the public.

REEB 25.035(2)(c)1.a. a. Competence in area of service — s. REEB 24.03.

REEB 25.035(2)(c)1.b. b. Tie-ins — s. REEB 24.075.

REEB 25.035(2)(c)1.c. c. Agreements in writing — s. REEB 24.08.

REEB 25.035(2)(c)1.d. d. Misleading market values — s. REEB 24.09.

REEB 25.035(2)(c)1.e. e. Net listings — s. REEB 24.10.

REEB 25.035(2)(c)2. 2. Advertising — s. REEB 24.04.

REEB 25.035(2)(c)3. 3. Completing and presenting offers — ss. REEB 24.12, 24.13.

REEB 25.035(2)(c)3.a. a. Confidentiality.

REEB 25.035(2)(c)3.b. b. Drafting and submitting offers.

REEB 25.035(2)(c)3.c. c. Prompt delivery to buyer.

REEB 25.035(2)(c)3.d. d. Fair presentation of offers.

REEB 25.035(2)(c)3.e. e. Prompt notification.

REEB 25.035(2)(c)4. 4. Self-dealing — s. REEB 24.05.

REEB 25.035(2)(c)4.a. a. Dual compensation.

REEB 25.035(2)(c)4.b. b. Disclosure of interest.

REEB 25.035(2)(c)4.c. c. Referral services.

REEB 25.035(2)(c)4.d. d. Disclosure of profits.

REEB 25.035(2)(c)4.e. e. Disclosure of licensure.

REEB 25.035(2)(d) (d) Consumer protection.

REEB 25.035(2)(d)1. 1. Property inspections — s. REEB 24.07 (1) (a).

REEB 25.035(2)(d)2. 2. Inquiry by listing broker — s. REEB 24.07 (1) (b).

REEB 25.035(2)(d)3. 3. Disclosure of material adverse facts — s. REEB 24.07 (2).

REEB 25.035(2)(d)4. 4. Disclosure of material suggesting adverse material facts — s. REEB 24.07 (3).

REEB 25.035(2)(d)5. 5. Disclosure of side agreements — s. REEB 24.07 (4).

REEB 25.035(2)(d)6. 6. Reliance upon third parties — s. REEB 24.07 (5).

REEB 25.035(2)(d)7. 7. Investigations and inspections — s. 452.23, Stats.

REEB 25.035(2)(d)8. 8. Civil liability for misrepresentation.

REEB 25.035(2)(d)9. 9. Seller's disclosure duties — ch. 709, Stats.

REEB 25.035(2)(e) (e) Fair housing. Wisconsin law — s. REEB 24.03 (1), ss. 66.1011 and 106.50, Stats.

REEB 25.035(2)(f) (f) Environmental factors.

REEB 25.035(2)(f)1. 1. Underground storage tanks — ch. SPS 310.

REEB 25.035(2)(f)2. 2. Floodplains — s. 87.30, Stats., ss. NR 116.01, 116.06.

REEB 25.035(2)(f)3. 3. Wetland — s. 23.32, Stats.

REEB 25.035(2)(f)4. 4. Farmland preservation — ss. 91.60 to 91.70, Stats.

REEB 25.035(2)(f)5. 5. Rental unit energy efficiency standards — ss. SPS 367.03, 367.08.

REEB 25.035(2)(g) (g) Trust accounts and escrows.

REEB 25.035(2)(g)1. 1. Trust accounts — s. 452.13, Stats., ch. REEB 18.

REEB 25.035(2)(g)1.a. a. Definition of trust account.

REEB 25.035(2)(g)1.b. b. Interest-bearing and non-interest-bearing accounts.

REEB 25.035(2)(g)1.c. c. Definition of trust funds.

REEB 25.035(2)(g)1.d. d. When a trust account is required.

REEB 25.035(2)(g)1.e. e. Deposit of trust funds.

REEB 25.035(2)(g)2. 2. Escrow agreement procedures.

REEB 25.035(2)(g)2.a. a. Escrows requiring separate escrow agreements.

REEB 25.035(2)(g)2.b. b. Pre-closing earnest money escrows.

REEB 25.035(2)(g)2.c. c. Post-closing escrows.

REEB 25.035(2)(g)2.d. d. Escrows not requiring separate escrow agreement.

REEB 25.035(2)(g)2.e. e. Drafting escrow agreements.

REEB 25.035(2)(h) (h) Miscellaneous issues.

REEB 25.035(2)(h)1. 1. Condominiums — ss. 703.08, 703.21, 703.33, Stats.