Chapter REEB 25

REEB 25.033(3)(j)1. 1. Duties owed to parties and clients under s. 452.133, Stats.

REEB 25.033(3)(j)2. 2. The requirement for an agency agreement and disclosure of agency under s. 452.135, Stats.

REEB 25.033(3)(j)3. 3. Revisions to common law duties and responsibilities under s. 452.139, Stats.

REEB 25.033(3)(k) (k) Agency relationship, including all of the following:

REEB 25.033(3)(k)1. 1. Multiple representation with designated agency.

REEB 25.033(3)(k)2. 2. Multiple representation without designated agency.

REEB 25.033(3)(k)3. 3. Single agency.

REEB 25.033(4) (4)  Listing agreements. Instruction relating to real estate listing agreements shall include all of the following:

REEB 25.033(4)(a) (a) Listing property.

REEB 25.033(4)(b) (b) Listing agreements under ch. REEB 16.

REEB 25.033(4)(c) (c) Special listing provisions.

REEB 25.033(4)(d) (d) Terminating listings.

REEB 25.033(4)(e) (e) Obtaining listings.

REEB 25.033(4)(f) (f) Pricing the property.

REEB 25.033(4)(g) (g) Disclosures.

REEB 25.033(4)(h) (h) Home warranties.

REEB 25.033(5) (5)  Interests in real estate. Instruction relating to interests in real estate shall include all of the following:

REEB 25.033(5)(a) (a) Government powers.

REEB 25.033(5)(b) (b) Estates in land.

REEB 25.033(5)(c) (c) Encumbrances.

REEB 25.033(5)(d) (d) Water rights.

REEB 25.033(5)(e) (e) Forms of ownership.

REEB 25.033(5)(f) (f) Trusts.

REEB 25.033(5)(g) (g) Ownership by business organizations.

REEB 25.033(5)(h) (h) Cooperatives.

REEB 25.033(5)(i) (i) Time-shares under ss. 70.095, 707.02, 707.05, 707.40, 707.47, and 707.49, Stats.

REEB 25.033(5)(j) (j) Condominiums under ss. 703.08, 703.21 and 703.33, Stats.

REEB 25.033(5)(k) (k) Homestead under ss. 706.01 (7) and 766.605, Stats.

REEB 25.033(6) (6)  Legal descriptions. Instruction relating to real estate legal descriptions shall include all of the following:

REEB 25.033(6)(a) (a) Methods of describing real estate.

REEB 25.033(6)(b) (b) Land units and measurements.

REEB 25.033(7) (7)  Taxes and other liens. Instruction relating to taxes and other liens shall include all of the following:

REEB 25.033(7)(a) (a) Liens.

REEB 25.033(7)(b) (b) Tax liens.

REEB 25.033(7)(c) (c) General tax assessment, equalization, and tax bills.

REEB 25.033(7)(d) (d) Mortgage liens.

REEB 25.033(7)(e) (e) Construction liens.

REEB 25.033(7)(f) (f) Judgments.

REEB 25.033(7)(g) (g) Estate and inheritance tax liens.

REEB 25.033(7)(h) (h) Other liens.

REEB 25.033(7)(i) (i) Taxes under ss. 74.15 and 74.47 (1) and (2), Stats.

REEB 25.033(7)(j) (j) Taxation and transfer fees under ss. 77.22 and 77.27, Stats.

REEB 25.033(8) (8)  Real estate contracts. Instruction relating to real estate contracts shall include all of the following:

REEB 25.033(8)(a) (a) Contract law.

REEB 25.033(8)(b) (b) Elements of a valid contract.

REEB 25.033(8)(c) (c) Performance of contract.

REEB 25.033(8)(d) (d) Discharging of contract.

REEB 25.033(8)(e) (e) Default or breach of contract.

REEB 25.033(8)(f) (f) Forms used in real estate under ch. REEB 16, including all of the following:

REEB 25.033(8)(f)1. 1. Listing agreements under s. 240.10, Stats.

REEB 25.033(8)(f)2. 2. Offers to purchase.

REEB 25.033(8)(f)3. 3. Addenda.

REEB 25.033(8)(f)4. 4. Buyer agency agreements.

REEB 25.033(8)(f)5. 5. Counteroffers.

REEB 25.033(8)(f)6. 6. Multiple counter proposals.

REEB 25.033(8)(f)7. 7. Amendments.

REEB 25.033(8)(f)8. 8. Notices.

REEB 25.033(8)(f)9. 9. Understanding closing statements.

REEB 25.033(8)(f)10. 10. Disclosure forms, including all of the following:

REEB 25.033(8)(f)10.a. a. Seller condition report.

REEB 25.033(8)(f)10.b. b. Agency.

REEB 25.033(8)(f)10.c. c. Buyer and seller disclosure.

REEB 25.033(8)(f)11. 11. Cancellation agreement and mutual release agreements.

REEB 25.033(8)(f)12. 12. Option.

REEB 25.033(8)(f)13. 13. Bill of sale.

REEB 25.033(8)(f)14. 14. Exchange.

REEB 25.033(8)(g) (g) Agreement to arbitrate real estate transaction disputes under s. 788.015, Stats.

REEB 25.033(9) (9)  Title records and transfers of title. Instruction relating to real estate title records and transfers of title shall include all of the following:

REEB 25.033(9)(a) (a) Requirements of a valid conveyance under ss. 240.10, 706.02 and 706.03, Stats.

REEB 25.033(9)(b) (b) Types of deeds.

REEB 25.033(9)(c) (c) Involuntary alienation.

REEB 25.033(9)(d) (d) Probate.

REEB 25.033(9)(e) (e) Transferring of a title by will.

REEB 25.033(9)(f) (f) Public records and recording.

REEB 25.033(9)(g) (g) Evidence of title.

REEB 25.033(9)(h) (h) Conveyance defined under s. 706.01, Stats.

REEB 25.033(10) (10)  Real estate finance and basic math. Instruction relating to real estate finance and basic math shall include all of the following:

REEB 25.033(10)(a) (a) Buyer qualification.

REEB 25.033(10)(b) (b) Mortgage instruments.

REEB 25.033(10)(c) (c) Payment plans.

REEB 25.033(10)(d) (d) Provisions for default; assignment; release and subject to.

REEB 25.033(10)(e) (e) Land contracts.

REEB 25.033(10)(f) (f) Secondary mortgage market.

REEB 25.033(11) (11)  Appraisal and market analysis. Instruction relating to real estate appraisal and market analysis shall include all of the following:

REEB 25.033(11)(a) (a) Basic principles of value.

REEB 25.033(11)(b) (b) Direct market comparison approach.

REEB 25.033(11)(c) (c) Cost approach.

REEB 25.033(11)(d) (d) Income approach.

REEB 25.033(11)(e) (e) Appraisal process.