452.09(4)
(4)
Experience requirements for broker's license applicants. 452.09(4)(a)1.1. An applicant for a broker's license who is an individual shall submit to the board evidence satisfactory to the board that the applicant has practiced as a licensed salesperson under the direct supervision of a licensed broker for at least 2 years within the last 4 years preceding the date of the applicant's application for a broker's license.
452.09(4)(a)2.
2. Except as provided under pars.
(b) to
(e), the board may not accept evidence as satisfactory under subd.
1. unless the evidence demonstrates that the applicant's experience as a licensed salesperson qualifies the applicant for a total of at least 40 points based on the following point system:
452.09(4)(a)2.a.
a. Each completed or closed residential transaction is worth 5 points.
452.09(4)(a)2.b.
b. Each completed or closed commercial transaction is worth 10 points.
452.09(4)(a)2.c.
c. Each property management contract is worth 0.5 points per month.
452.09(4)(b)
(b) An applicant who is licensed to practice law in this state may satisfy the requirement under par.
(a) by submitting to the board evidence satisfactory to the board that the applicant has experience related to real estate.
452.09(4)(c)
(c) An applicant who holds a current certificate of financial responsibility under s.
101.654 may satisfy the requirement under par.
(a) by submitting to the board evidence satisfactory to the board that the applicant has experience related to real estate sales.
452.09(4)(d)
(d) Except as provided in a reciprocal agreement under s.
452.05 (3), an applicant for a broker's license who is a nonresident may satisfy the requirement under par.
(a) by submitting to the board evidence satisfactory to the board that the applicant has been a licensed broker under the laws of another state for at least 2 years within the last 4 years preceding the date of the applicant's application for a broker's license.
452.09(4)(e)
(e) The board may waive any requirement under par.
(a),
(b),
(c), or
(d) for any applicant based on standards established by the board by rule.
452.09 Cross-reference
Cross-reference: See also chs.
REEB 12,
23, and
25, Wis. adm. code.
