Chapter 452, REAL ESTATE PRACTICE
37 sections in this chapter.
Wis. Stat. § 452.01 Definitions
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452.01 Definitions. In this chapter: (1e) “Adverse fact” means any of the following: (a) A condition or occurrence that is generally recognized by a competent licensee as doing any of the following: 1. Significantly and adversely affecting the value of the property. 2. Significan…
Wis. Stat. § 452.03 Brokers and salespersons licensed
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452.03 Brokers and salespersons licensed. (1) Except as provided in s. 452.137, no person may engage in or follow the business or occupation of, or advertise or hold himself or herself out as, or act temporarily or otherwise as a broker or salesperson without a license issued und…
Wis. Stat. § 452.05 Duties and powers of board
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452.05 Duties and powers of board. (1) In addition to the other duties and responsibilities of the board under this chapter, the board shall advise the secretary on matters relating to real estate practice and shall: (a) Grant and issue licenses to individuals and business entiti…
Wis. Stat. § 452.06 Councils and committees
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452.06 Councils and committees. (1) (a) The board shall create a council on forms that shall meet 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 …
Wis. Stat. § 452.07 Rules
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452.07 Rules. (1) The board shall promulgate rules for the guidance of the real estate profession and define professional conduct and unethical practice. (1m) The board may promulgate rules regarding the supervisory responsibilities of brokers under s. 452.132. (3) The board may …
Wis. Stat. § 452.08 Board receipt of proposed legislation
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452.08 Board receipt of proposed legislation. The secretary shall submit to the board in writing any legislation proposed by the department relating to licensees or the board prior to introduction in the legislature. History: 1981 c. 94. 452.09 Application for license, contents. …
Wis. Stat. § 452.09 Application for license, contents
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452.09 Application for license, contents. 452.09(1)(1) Form of application. Any person desiring to act as a broker or salesperson shall submit to the board an application for a license. The application shall be in such form as the board prescribes and shall include the following:…
Wis. Stat. § 452.10 Applications, verification, fees, exceptions
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452.10 Applications, verification, fees, exceptions. (1) An application shall be verified by the applicant. If made by a business entity it shall be verified by a business representative that is a licensed individual broker or a licensed broker business entity and that is acting …
Wis. Stat. § 452.11 Nonresident applicants and licensees
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452.11 Nonresident applicants and licensees. (1) A nonresident may become a broker or salesperson by conforming to all the provisions of this chapter. (3) Every nonresident applicant, and every resident licensee who becomes a nonresident, shall file with the board an irrevocable …
Wis. Stat. § 452.12 Licenses
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452.12 Licenses. (1) EXPIRATION. A license granted by the board entitles the holder to act as a broker or salesperson, as the case may be, until the applicable renewal date specified under s. 440.08 (2) (a). (2) BUSINESS ENTITIES. (a) A broker’s license may be issued to a busines…
Wis. Stat. § 452.13 Trust accounts
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452.13 Trust accounts. (1) DEFINITIONS. In this section: (a) “Client funds” means all downpayments, earnest money deposits, or other money related to a conveyance of real estate that is received by a licensee on behalf of a firm or any other person. “Client funds” does not includ…
Wis. Stat. § 452.132 Responsibilities of firms and licensees
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452.132 Responsibilities of firms and licensees. (1) A firm shall supervise the brokerage service activities of each licensee associated with the firm, including by doing all of the following: (a) Ensuring that a supervising broker for the firm complies with sub. (4). (b) Providi…
Wis. Stat. § 452.133 Duties of licensees; prohibitions
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452.133 Duties of licensees; prohibitions. (1) DUTIES TO ALL PARTIES TO A TRANSACTION. A firm providing brokerage services to a party to a transaction owes all of the following duties to the party: (a) The duty to provide brokerage services honestly and fairly. (b) The duty to pr…
Wis. Stat. § 452.134 Agency relationships; multiple representation relationships
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452.134 Agency relationships; multiple representation relationships. (1) AGENCY RELATIONSHIP NOT REQUIRED. (a) Subject to par. (b), a firm and any licensees associated with the firm may provide brokerage services to any party, whether or not the firm has entered into an agency ag…
Wis. Stat. § 452.135 Disclosure of duties
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452.135 Disclosure of duties. (1) (a) No firm, and no licensee associated with a firm, may negotiate on behalf of a party who is not the firm’s client unless the firm, or a licensee associated with the firm, provides to the party a copy of the following written disclosure stateme…
Wis. Stat. § 452.1355 Transactions involving residential property
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452.1355 Transactions involving residential property. (1) A listing firm representing an owner in a transaction involving the owner’s residential property containing one to 4 dwelling units shall, except as provided in sub. (4), do all of the following: (a) Share information on t…
Wis. Stat. § 452.136 Advertising by licensees
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452.136 Advertising by licensees. (1) FALSE ADVERTISING. A licensee may not advertise in a manner that is false, deceptive, or misleading. (1m) ADVERTISING ENHANCED BY TECHNOLOGY. A licensee shall in all advertising disclose if the advertising has been altered or modified using t…
Wis. Stat. § 452.137 Cooperation with out-of-state brokers and salespersons
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452.137 Cooperation with out-of-state brokers and salespersons. (1) DEFINITIONS. In this section: (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 broke…
Wis. Stat. § 452.138 Firms providing services in more than one transaction
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452.138 Firms providing services in more than one transaction. Cross-reference: See definitions in s. 440.01. Cross-reference: See also REEB, Wis. adm. code.
Wis. Stat. § 452.139 Changes in common law duties and liabilities of brokers and parties
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452.139 Changes in common law duties and liabilities of brokers and parties. (1) COMMON LAW DUTIES OF FIRMS. The duties of a firm specified in this chapter or in rules promulgated under this chapter shall supersede duties or obligations under common law to the extent that those c…
Wis. Stat. § 452.14 Investigation and discipline of licensees
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452.14 Investigation and discipline of licensees. (1) The board shall, upon motion of the secretary or his or her designee or upon its own determination, conduct investigations and, as appropriate, may hold hearings and make findings, if the board or the department receives credi…
Wis. Stat. § 452.142 Actions concerning licensees
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452.142 Actions concerning licensees. (1) Notwithstanding s. 100.18 (11) (b) 3., 893.43, 893.52, or 893.57, an action concerning any act or omission of a firm or any licensee associated with the firm relating to brokerage services shall be commenced within 2 years after whichever…
Wis. Stat. § 452.15 Ineligibility
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452.15 Ineligibility. (1) Except as otherwise provided in sub. (2), no license may be issued under this chapter to any person whose license under this chapter has been revoked until the expiration of a period determined in each case by the board or, in the case of revocation unde…
Wis. Stat. § 452.17 Penalties
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452.17 Penalties. (1) Any person who engages in or follows the business or occupation of, or advertises or holds himself or herself out as or acts temporarily or otherwise as, a broker or salesperson in this state without a license under this chapter shall be prosecuted by the di…
Wis. Stat. § 452.18 Court review
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452.18 Court review. Except as provided in ss. 73.0301 (2) (b) 1. a. and 2. and 108.227 (2) (b) 1. a. and (6), orders of the board and department shall be subject to review as provided in ch. 227. History: 1981 c. 94; 1997 a. 237; 2013 a. 36.
Wis. Stat. § 452.19 Fees, commissions, and other compensation
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452.19 Fees, commissions, and other compensation. (1m) (a) No licensee may pay a fee or a commission or any part thereof for performing any act specified in this chapter or as compensation for a referral or as a finder’s fee to any person who is not licensed under this chapter or…
Wis. Stat. § 452.20 Limitation on actions for commissions
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452.20 Limitation on actions for commissions. No person engaged in the business or acting in the capacity of a broker or salesperson within this state may bring or maintain an action in the courts of this state for the collection of a commission or compensation for the performanc…
Wis. Stat. § 452.21 Compensation presumed
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452.21 Compensation presumed. In any prosecution for violation of this chapter, proof that a person acted as a broker or salesperson is prima facie proof that compensation therefor was received or promised. History: 1981 c. 94; 1987 a. 399; 2015 a. 258.
Wis. Stat. § 452.22 Certifications as evidence
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452.22 Certifications as evidence. (1) Copies of all documents, orders, resolutions and certificates made, executed or granted by the department or board, and of all papers filed with the department when certified by the secretary or his or her designee, under the official seal, …
Wis. Stat. § 452.23 Disclosures and inspections by brokers and salespersons
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452.23 Disclosures and inspections by brokers and salespersons. (1) No licensee may disclose to any person in connection with the sale, exchange, purchase, or rental of real property information, the disclosure of which constitutes unlawful discrimination in housing under s. 106.…
Wis. Stat. § 452.24 Disclosure duty; immunity for providing notice about the sex offender registry
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452.24 Disclosure duty; immunity for providing notice about the sex offender registry. (1) If, in connection with the sale, exchange, purchase or rental of real property, a licensee receives a request from a person to whom the licensee is providing brokerage services in connectio…
Wis. Stat. § 452.25 Criminal convictions and disclosures
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452.25 Criminal convictions and disclosures. (1) FELONY CONVICTIONS. (a) Notwithstanding ss. 111.321, 111.322, and 111.335, and except as provided in pars. (b) to (e), no applicant who is an individual may be issued an initial broker’s or salesperson’s license if the applicant ha…
Wis. Stat. § 452.30 Association with firm; independent practice
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452.30 Association with firm; independent practice. (1) No licensee may provide brokerage services on behalf of a firm unless all of the following apply: (a) The licensee is associated with the firm. (b) The licensee has notified the department that the licensee is associated wit…
Wis. Stat. § 452.34 Unlicensed personal assistants
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452.34 Unlicensed personal assistants. (1) In this subsection, “unlicensed personal assistant” means an individual, including an individual who is licensed under this chapter, who is employed only to provide services for which a license is not required under this chapter as provi…
Wis. Stat. § 452.38 Independent contractor relationship
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452.38 Independent contractor relationship. (1) Except as otherwise provided in s. 102.078, a licensee shall not, under ch. 102, 103, 104, or 109, under subch. X of ch. 71 or subch. II of ch. 111, under any other law or rule other than those specified under sub. (1m), or in any a…
Wis. Stat. § 452.40 Use of forms; provision of legal advice
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452.40 Use of forms; provision of legal advice. (1) (a) In this subsection, “use a form” means to complete a form by filling in blanks or modifying printed provisions on the form at the instruction of one or more parties with whom a licensee is working or representing in a specif…
Wis. Stat. § 452.42 Records retention
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452.42 Records retention. (1) In this section, “electronic” has the meaning given in s. 137.11 (5). (2) A licensee shall retain documents or records related to a transaction, as determined by the board, in accordance with any rules promulgated by the board. Records described in t…