Date of enactment: November 30, 2017
2017 Senate Bill 455   Date of publication*: December 1, 2017
* Section 991.11, Wisconsin Statutes: Effective date of acts. “Every act and every portion of an act enacted by the legislature over the governor's partial veto which does not expressly prescribe the time when it takes effect shall take effect on the day after its date of publication."
2017 WISCONSIN ACT 110
An Act to renumber 452.01 (2) (h) and 452.137 (1) (c); to renumber and amend 452.06 (1), 452.137 (1) (a), 452.137 (2) (a) (intro.), 452.137 (2) (a) 1. and 452.137 (2) (a) 2.; to amend 452.01 (2) (a), 452.01 (5m) (a), 452.05 (1) (b), 452.133 (title), 452.134 (1) (a), 452.137 (2) (c), 452.137 (4) (a), 452.137 (4) (b) (intro.) and 452.25 (1) (a); to repeal and recreate 452.14 (3) (p); and to create 452.01 (2) (d), 452.01 (5e), 452.06 (1) (c), 452.07 (3), 452.133 (3) (d), 452.136, 452.137 (1) (am), 452.137 (1) (cm), 452.137 (1) (e), 452.137 (2) (am), 452.137 (2) (b) 3., 452.137 (2) (bm), 452.137 (4) (c) and 452.25 (1) (f) of the statutes; relating to: various changes regarding the laws governing real estate practice and the licensure of real estate brokers and salespersons and granting rule-making authority.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
110,1 Section 1. 452.01 (2) (a) of the statutes is amended to read:
452.01 (2) (a) For another person, and for commission, money, or other thing of value, negotiates or offers or attempts to negotiate, whether directly or indirectly, a sale, exchange, purchase, or rental of, or the granting or acceptance of an option to sell, exchange, purchase, or rent, an interest or estate in real estate, a time share, or a business or its goodwill, inventory, or fixtures, whether or not the business includes real property.
110,2 Section 2. 452.01 (2) (d) of the statutes is created to read:
452.01 (2) (d) Issues a written report of property value that is prepared for another person and that is not an appraisal, as defined in s. 458.01 (1).
110,3 Section 3. 452.01 (2) (h) of the statutes is renumbered 452.01 (2) (c).
110,4 Section 4. 452.01 (5e) of the statutes is created to read:
452.01 (5e) “Listing firm” means a firm that has entered into an agency agreement with a seller or landlord pursuant to which the firm lists property for sale or lease.
110,5 Section 5. 452.01 (5m) (a) of the statutes is amended to read:
452.01 (5m) (a) Acting, whether directly or indirectly, as an intermediary by facilitating or participating in communications between parties related to the parties' interests in a transaction. In this paragraph, providing advice or opinions on matters that are material to a transaction in which a person is engaged or intends to engage or showing a party real estate does not, in and of itself, constitute acting as an intermediary by facilitating or participating in communications between parties.
110,6 Section 6 . 452.05 (1) (b) of the statutes is amended to read:
452.05 (1) (b) Approve forms for use in real estate practice. The board may conduct public hearings on matters relating to the approval of forms used in real estate practice. The board may also solicit comments relating to forms used in real estate practice from the council on forms created under s. 452.06 (1) (a) or from a professional trade association whose members consist primarily of licensees actively engaged in real estate practice.
110,7 Section 7 . 452.06 (1) of the statutes is renumbered 452.06 (1) (a) and amended to read:
452.06 (1) (a) The board shall create one or more councils a council on forms which that shall meet on a regular basis when directed by the board, be chaired by a member of the board, and report to the board.
(b) Any proposed change in a form relating to real estate practice shall be referred to the appropriate council on forms for review before the form is approved.
110,8 Section 8 . 452.06 (1) (c) of the statutes is created to read:
452.06 (1) (c) The board may direct the council on forms to create or modify a form relating to real estate practice and submit that form to the board for approval. If the board directs the council to create or modify a form, the board shall establish a deadline for the council to submit the form to the board.
110,9 Section 9. 452.07 (3) of the statutes is created to read:
452.07 (3) The board may promulgate rules regarding advertising by brokers or salespersons that do not conflict with s. 452.136.
110,10 Section 10 . 452.133 (title) of the statutes is amended to read:
452.133 (title) Duties of licensees ; prohibitions.
110,11 Section 11. 452.133 (3) (d) of the statutes is created to read:
452.133 (3) (d) Negotiate the sale, exchange, purchase, or rental of personal property unless related to the transaction. The licensee may use a form approved by the board under s. 452.05 (1) (b) for the conveyance of the seller's interest in the personal property. In this paragraph, “use a form” has the meaning given in s. 452.40 (1) (a).
110,12 Section 12 . 452.134 (1) (a) of the statutes is amended to read:
452.134 (1) (a) Subject to par. (b), a firm and any licensees associated with the firm may provide brokerage services to any party to a transaction, whether or not the firm has entered into an agency agreement with a party to the transaction or the firm has been engaged to provide brokerage services in the transaction as a subagent.
110,13 Section 13. 452.136 of the statutes is created to read:
452.136 Advertising by licensees. (1) False advertising. A licensee may not advertise in a manner that is false, deceptive, or misleading.
(2) Disclosure of name. (a) Except for advertisements for the rental of real estate owned by the licensee, a licensee shall in all advertising disclose the firm's name exactly as printed on the license of the licensed individual broker or licensed broker business entity or disclose a trade name previously filed by the firm with the department and shall in either case clearly indicate that the firm is a business enterprise and not a private party.
(b) Except for advertisements for the rental of real estate owned by the licensee, a licensee associated with a firm shall advertise under the supervision of and in the name of the firm. The firm's name as used in advertising shall be clear and conspicuous. This paragraph does not apply to a licensee engaged in independent practice as provided in s. 452.30 (6).
(c) Notwithstanding pars. (a) and (b), a licensee may advertise the occasional sale of real estate owned by the licensee or may engage in the occasional solicitation of real estate for purchase by the licensee without complying with pars. (a) and (b), provided that the licensee clearly identifies himself, herself, or itself as a real estate licensee in the advertisement.
(3) Advertising without agency agreement prohibited. A firm and any licensees associated with the firm may not advertise a property unless one of the following applies:
(a) The firm is the listing firm for the property.
(b) The firm or a licensee associated with the firm has obtained consent to advertise the property from the listing firm for the property.
(4) Advertised price. A licensee may not advertise property at a price other than that agreed upon with the owner, except that the price may be stated as a range or in general terms if it reflects the agreed upon price.
110,14 Section 14. 452.137 (1) (a) of the statutes is renumbered 452.137 (1) (d) and amended to read:
452.137 (1) (d) “Cooperative agreement" means the an agreement established by the board under sub. (4) entered into between an out-of-state broker and a firm as provided in this section.
110,15 Section 15. 452.137 (1) (am) of the statutes is created to read:
452.137 (1) (am) Notwithstanding s. 452.01 (1m), “agency agreement" includes a written agreement between an out-of-state broker and a client in which the client authorizes the out-of-state broker to provide brokerage services to the client.
110,16 Section 16. 452.137 (1) (c) of the statutes is renumbered 452.137 (1) (h).
110,17 Section 17. 452.137 (1) (cm) of the statutes is created to read:
452.137 (1) (cm) 1. “Commercial transaction” means a transaction concerning any real property, other than real property containing 1 to 4 dwelling units or real property zoned for agricultural use.
2. “Commercial transaction” does not include any transaction concerning a dwelling unit that is a part of real property containing more than 4 dwelling units and that is being sold on a unit-by-unit basis.
110,18 Section 18. 452.137 (1) (e) of the statutes is created to read:
452.137 (1) (e) “Dwelling unit” has the meaning given in s. 440.97 (3).
110,19 Section 19. 452.137 (2) (a) (intro.) of the statutes is renumbered 452.137 (2) (a) and amended to read:
452.137 (2) (a) Except as provided in par. (b), an An out-of-state broker may act as a broker in this state only as provided in par. (ag) or (am).
(ag) An out-of state broker may, subject to par. (b), act as a broker in this state if the out-of-state broker does all of the following:
110,20 Section 20. 452.137 (2) (a) 1. of the statutes is renumbered 452.137 (2) (ag) 1. and amended to read:
452.137 (2) (ag) 1. Enters into a cooperative agreement with a listing firm and cooperates with the listing firm on the listing agreement that is subject to the cooperative agreement. Each cooperative agreement may cover only one listing agreement.
110,21 Section 21. 452.137 (2) (a) 2. of the statutes is renumbered 452.137 (2) (ag) 2. and amended to read:
452.137 (2) (ag) 2. Submits to the listing firm evidence that the out-of-state broker is licensed in good standing to engage in real estate brokerage in a jurisdiction other than this state.
110,22 Section 22. 452.137 (2) (am) of the statutes is created to read:
452.137 (2) (am) An out-of-state broker representing a person who is seeking to buy or rent property located in this state in a commercial transaction may, subject to pars. (b) and (bm), act as a broker in this state if the out-of-state broker does all of the following:
1. Enters into a cooperative agreement with a firm and cooperates with the firm. Each cooperative agreement shall be limited to a type of property, type of function, geographic area, or other criteria specified in the buyer's or tenant's search parameters.
2. Submits to the firm evidence that the out-of-state broker is licensed in good standing to engage in real estate brokerage in a jurisdiction other than this state.
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