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REEB 25.02(2)(i)4.d. d. Cooperatives.
REEB 25.02(2)(i)5. 5. Mortgage banking.
REEB 25.02(2)(i)5.a. a. Definition of mortgage banker, loan originator, loan solicitor.
REEB 25.02(2)(i)5.b. b. When separate registration is needed.
REEB 25.02(2)(i)5.c. c. Legality of referral fees, "Real Estate Settlement Procedures Act."
REEB 25.02(2)(i)6. 6. Real estate appraisal.
REEB 25.02(2)(i)6.a. a. Definition.
REEB 25.02(2)(i)6.b. b. When separate certification is needed.
REEB 25.02(2)(i)7.a. a. Specialized forms.
REEB 25.02(2)(i)8. 8. Auctions.
REEB 25.02(2)(i)8.a. a. Auctioneer requires real estate license to call auction of real estate.
REEB 25.02(2)(i)9. 9. Mobile homes.
REEB 25.02(2)(i)9.a. a. When a real estate license or separate license is required.
REEB 25.02(2)(i)10. 10. Time-share.
REEB 25.02(2)(i)10.a. a. Familiarity with ch. 707, Stats., when selling time-shares.
REEB 25.02 History History: Cr. Register, October, 1979, No. 286, eff. 11-1-79; cr. (4), Register, April, 1981, No. 304, eff. 5-1-81; am. (1), (4) (intro.) and (b), Register, June, 1982, No. 318, eff. 7-1-82; renum. from REB 16.02 and am. (1) and (4) (intro.), Register, February, 1983, No. 326, eff. 3-1-83; am. (1), (3) (intro.), (a) (intro.), (b) (intro.) and (c) (intro.), r. and recr. (2), cr. (5), Register, February, 1987, No. 374, eff. 6-1-87; r. and recr. Register, January 1992, No. 433, eff. 2-1-92; am. (1) (a), (2) (h), 1. f., (3), cr. (2) (a) 6., Register, September, 1993, No. 453, eff. 10-1-93; cr. (2) (h) 5. cm., r. (3), Register, July, 1997, No. 499, eff. 8-1-97; am. (1) (intro.), (a) and (b), Register, July, 1998, No. 511, eff. 8-1-98; am. (1) (intro.), (a), (2) (intro.) to (g) (intro.), 2. to 5., (h) and (i), cr. (2) (a) 7., Register, August, 1999, No. 524, eff. 9-1-99; correction in (1) (a), (2) (b) 1. b., c., 2. b., 3. k., (c) 1. (intro.), (d) 1. c., (e) 3. (intro.), (f) 5., (g) 1. a. to i., 2. (intro.), 3. (intro.), 4. (intro.), 5. (intro.), 6. a. to g., 7. a., b., 1. a. to c., (i) 2. a. made under s. 13.92 (4) (b) 6., 7., Stats., Register November 2011 No. 671; CR 10-136: am. (2) (intro.), (g) 7. b. Register April 2012 No. 676, eff. 7-1-12.
REEB 25.025 REEB 25.025 Satisfaction of broker's educational requirements by out-of-state applicants.
REEB 25.025(1) (1) An applicant who has held an active real estate broker's license in another licensing jurisdiction within the 2 year period prior to filing an application for an original real estate broker's license in Wisconsin may satisfy the broker's educational requirements of s. REEB 25.02 (1) by submitting evidence of one of the following:
REEB 25.025(1)(a) (a) Completion of the educational programs under sub. (2) and s. REEB 25.035 (2) at a school approved by the board under s. REEB 25.05 or 25.06.
REEB 25.025(1)(b) (b) Satisfaction of the requirements in s. REEB 25.02 (1) (b) or (c).
REEB 25.025(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 3 hours:
REEB 25.025(2)(a) (a) Broker-only contracts and contract issues.
REEB 25.025(2)(a)1.1. Reynolds v. Dinger, 14 Wis. 2d 193.
REEB 25.025(2)(a)2. 2. State bar forms — s. REEB 16.03 (1).
REEB 25.025(2)(a)3. 3. Uniform commercial code forms — s. REEB 16.03 (1).
REEB 25.025(2)(a)4. 4. Forms used in other states.
REEB 25.025(2)(a)5. 5. Developing forms and contingency manual.
REEB 25.025(2)(a)6. 6. Supervising salespersons' use of approved forms.
REEB 25.025(2)(a)7. 7. Commercial real estate broker's commission lien — s. 779.32, Stats.
REEB 25.025(2)(b) (b) Miscellaneous Wisconsin laws.
REEB 25.025(2)(b)1.1. Change of name, address or trade name — ch. REEB 23.
REEB 25.025(2)(b)2. 2. Trust accounts — s. 452.13, Stats., and ch. REEB 18.
REEB 25.025(2)(b)2.a. a. Procedure to open trust account.
REEB 25.025(2)(b)2.b. b. Authorization to sign trust account checks.
REEB 25.025(2)(b)2.c. c. Bookkeeping system.
REEB 25.025(2)(b)3. 3. Policy manual — s. REEB 17.08.
REEB 25.025(2)(c) (c) Review, update or more in-depth coverage of any of the contents of the salesperson's educational course in s. REEB 25.035 (2).
REEB 25.025 History History: Cr. Register, July, 1997, No. 499, eff. 8-1-97; am. (1) (intro.), (a), (b), (2) (intro.), (a), (b) (intro.) and (c), cr. (2) (a) 7., Register, August, 1999, No. 524, eff. 9-1-99; correction in (1) (intro.), (a), (b), (2) (a) 2., 3., (b) 1., 2. (intro.), 3., (c) made under s. 13.92 (4) (b) 6., 7., Stats., Register November 2011 No. 671.
REEB 25.03 REEB 25.03 Educational requirements of applicant for an original real estate salesperson's license.
REEB 25.03(1)(1)General requirements. Each applicant for an original real estate salesperson's license shall present evidence of attendance, within 5 years before application for a license, at the educational program in sub. (3), which has been approved by the board in accordance with s. REEB 25.05 or 25.06.
REEB 25.03(2) (2)Ten semester-hour waiver. The educational requirement in sub. (1) is not required of an applicant who submits proof that the applicant has received 10 semester hour credits in real estate or real estate related law courses at an accredited institution of higher education. A quarter hour credit equals 2/3 of a semester hour credit.
REEB 25.03(3) (3)Salesperson's pre-license program. The educational program for applicants for an original real estate salesperson's license shall cover all of the following topics and shall be designed so that if the educational program were presented as classroom education, it would be presented in no less than 72 hours:
REEB 25.03(3)(a) (a) Real property.
REEB 25.03(3)(a)1.1. Land, real estate and real property.
REEB 25.03(3)(a)2. 2. Real property versus personal property.
REEB 25.03(3)(a)3. 3. Classification of fixtures.
REEB 25.03(3)(a)4. 4. Characteristics of real estate.
REEB 25.03(3)(a)5. 5. Types of home ownership.
REEB 25.03(3)(a)6. 6. Mobile homes — s. 70.043, Stats.
REEB 25.03(3)(a)7. 7. Ownership expenses.
REEB 25.03(3)(a)8. 8. Property features.
REEB 25.03(3)(a)9. 9. Investment considerations.
REEB 25.03(3)(a)10. 10. Tax benefits for home ownership.
REEB 25.03(3)(a)11. 11. Homeowner's insurance.
REEB 25.03(3)(b) (b) The real estate business.
REEB 25.03(3)(b)1.1. Real estate specialties.
REEB 25.03(3)(b)2. 2. The real estate market.
REEB 25.03(3)(b)3. 3. Factors affecting supply and demand.
REEB 25.03(3)(b)4. 4. Business cycles.
REEB 25.03(3)(b)5. 5. Real estate practice — ch. 452, Stats.
REEB 25.03(3)(c) (c) Real estate brokerage.
REEB 25.03(3)(c)1.1. Law of agency.
REEB 25.03(3)(c)2. 2. Creation and termination of agency.
REEB 25.03(3)(c)3. 3. Fiduciary duties.
REEB 25.03(3)(c)4. 4. Responsibilities to third parties.
REEB 25.03(3)(c)5. 5. Broker's and salesperson's compensation.
REEB 25.03(3)(c)6. 6. Antitrust laws.
REEB 25.03(3)(c)7. 7. Independent contractor versus employee.
REEB 25.03(3)(c)8. 8. Broker-to-broker relationships.
REEB 25.03(3)(c)9. 9. Sales associate-to-sales associate relationships.
REEB 25.03(3)(d) (d) Listing agreements.
REEB 25.03(3)(d)1.1. Listing property.
REEB 25.03(3)(d)2. 2. Listing agreements — ch. REEB 16.
REEB 25.03(3)(d)3. 3. Special listing provisions.
REEB 25.03(3)(d)4. 4. Termination of listings.
REEB 25.03(3)(d)5. 5. Obtaining listings.
REEB 25.03(3)(d)6. 6. Pricing the property.
REEB 25.03(3)(d)7. 7. Disclosures.
REEB 25.03(3)(d)8. 8. Home warranties.
REEB 25.03(3)(e) (e) Interests in real estate.
REEB 25.03(3)(e)1.1. Government powers.
REEB 25.03(3)(e)2. 2. Estates in land.
REEB 25.03(3)(e)3. 3. Encumbrances.
REEB 25.03(3)(e)4. 4. Water rights.
REEB 25.03(3)(e)5. 5. Forms of ownership.
REEB 25.03(3)(e)6. 6. Trusts.
REEB 25.03(3)(e)7. 7. Ownership by business organizations.
REEB 25.03(3)(e)8. 8. Cooperatives.
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