STATE OF WISCONSIN
REAL ESTATE EXAMINING BOARD
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IN THE MATTER OF RULE-MAKING : PROPOSED ORDER OF THE
PROCEEDINGS BEFORE THE : REAL ESTATE EXAMINING BOARD
REAL ESTATE EXAMINING BOARD : ADOPTING RULES
: (CLEARINGHOUSE RULE )
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PROPOSED ORDER
An order of the Real Estate Examining Board to repeal REEB 24.07 (8) (a) 1. and 1g., 24.13 (2) (b), 24.16, 24.13 (2) (b); to renumber and amend REEB 24.13 (2) (a) and REEB 24.13 (2); to amend REEB 24.01 (2), 24.02 (13m), (14), (16), 24.02 (18) and (19), 24.03 (2) (a) and (c), 24.05 (5) (a) 3., 24.07 (1) (a) and (c), 24.07 (3), 24.07 (8) (a) and (d) (title), 1., 2., 3. and (8) (e) 1., 24.075 (3) (a), (b), and (c), 24.08, 24.085, 24.09, 24.12 (1) and (2), 24.13 (1) and (2) (title), 24.13 (3) (b), and (5), 24.15, 24.17 (1), (2m), and (3); to repeal and recreate REEB 24.04 (1) through (4) and REEB 24.05 (1) (a) and (b); and to create REEB 24.02 (16m), 24.07 (8) (a) 1m., 24.13 (3) (c), relating to the conduct and ethical practices of licensees.
Analysis prepared by the Department of Safety and Professional Services.
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ANALYSIS
Explanation of agency authority:
Each examining board shall promulgate rules for its own guidance and for the guidance of the profession to which it pertains and define and enforce professional conduct and unethical practices not inconsistent with the law relating to the particular profession. [s. 15.08 (5) (b), Stats.] The board shall promulgate rules for the guidance of the real estate profession and define professional conduct and unethical practice. [s. 452.07 (1), Stats.] Related statute or rule: Chapter REEB 24 Plain language analysis:
The proposed rule includes a comprehensive review of the chapter to ensure statutory compliance and to ensure it is current with professional standards and practices.
Section 1. is revised to improve grammatical clarity.
Section 2. is revised for updates to the practice.
Section 3. is revised for grammatical clarity.
Section 4. is created to define right of first refusal.
Section 5. is revised for clarity and current practices.
Section 6. is revised to clarify that the role of an assisting licensee.
Section 7. is repeals and recreates provisions to refer to the statutes related to advertising standards of practice.
Section 8. repeals provisions and revises codes related to compensation requirements.
Section 9. revises code provisions to include other parties representing a seller as it relates to disclosure requirements.
Section 10. clarifies that if a licensee is granted access to a property, the licensee shall inspect the real estate.
Section 11. is revised for corrected statutory references.
Section 12. amends the section to include all parties in the delivery of a copy of the written report.
Section 13. deletes the provisions related to negotiations and disclosure to improve consistency with statutory requirements.
Section 14. is created to improve consistency with s. 452.135, Stats. regarding licensees providing a written disclosure statement to customers.
