Title 33 — Title 33 — Professions And Occupations

Short title; license required. This act shall be known and may be cited as the "Real Estate License Act." It is unlawful for any person to engage in or conduct, directly or indirectly, or to advertise or hold himself out as engaging in real estate activity or acting in the capaci…

Definitions. (a) Repealed By Laws 2011, Ch. 104, § 2. (b) As used in this act: (i) "Active license" means a real estate license that has not been inactivated, suspended or revoked; (ii) "Advance fee" means a fee claimed, charged or received for a listing, advertisement or offer t…

(a) Exemptions. The provisions of this act shall not apply to: (i) An owner of real estate or to a member of his immediate family or to his regular employees with respect to property owned by him unless the owner, his immediate family or regular employee is a licensee; (ii) An at…

Acts constituting person as licensee. Any person who, for another, with the intention or upon the promise of receiving compensation offers, attempts or agrees to perform, or performs any single act of real estate activity, whether as a part of a transaction or as the entire trans…

Creation of commission; membership; terms; removal; chairman; powers and duties; director and duties thereof; other employees; compensation; disposition of fees. (a) The Wyoming real estate commission is created to consist of five (5) commissioners, each of whom shall be a citize…

Application for license; qualifications; sworn statement; commission approval of course of study; statement of responsible broker; denial of license; issuing licenses. (a) Any person desiring to act as a licensee shall file an application for a license with the commission. The ap…

Examinations; responsible broker, associate broker and salesperson's licenses. (a) In addition to proof of honesty, trustworthiness and good reputation, each applicant desiring to become licensed as a real estate responsible broker, associate broker or a real estate salesperson s…

Fees. Pursuant to W.S. 33-1-201, the commission shall establish fees for examinations, original licenses, modified licenses, renewals, certifications, change of place of business and transfers. The fees shall be used to pay the expense of maintaining and operating the office of t…

Responsible broker to establish a real estate company, maintain fixed principal office; change of address; branch offices; restrictions on associate brokers and salespersons. (a) Each resident responsible broker shall lawfully establish at least one (1) but no more than three (3)…

Unlawful to compensate unlicensed person; licensing of like-licensed nonresidents; service of process on nonresidents. (a) It is unlawful for any responsible broker to compensate any person who is not a licensee associated with his real estate company or a responsible broker for …

Censure of licensee and suspension or revocation of license; grounds. (a) The commission shall upon a written sworn complaint or may upon its own motion investigate the actions of any licensee conducting real estate advertising, self promotion as a licensee or real estate activit…

Enjoining violations of chapter; penalties for violation of injunction. (a) Any person who violates or proposes to violate any provisions of this act, or any rules and regulations promulgated under this act, may be restrained or enjoined from the action at any time by an order is…

appeals. Contested cases; independent hearing officers; (a) The commission may contract with independent hearing officers to hear all contested cases arising under this act. The hearing officer shall not be an employee of the office of the attorney general, or an employee or memb…

Conducting business without license prohibited; penalties; civil liability. (a) Any individual performing real estate activity without first obtaining a license is guilty of a misdemeanor and upon conviction shall be punished by a fine of not more than two thousand five hundred d…

Unlicensed person may not maintain action for fee. No action or suit shall be instituted, nor recovery be had, in any court of this state by any person for compensation for any real estate activity unless the person was licensed by the commission under this act at the time of eng…

Real estate institutes and seminars; assistance in sponsoring studies and programs. (a) The commission may conduct or assist in conducting real estate institutes and seminars and incur and pay the necessary expenses in connection therewith. The institutes or seminars shall be ope…

Directory of licensees. The commission shall maintain and make publicly available a directory of licensees, including licenses suspended and revoked which shall contain other data as the commission may determine to be in the interest of real estate licensees and the public.

License renewals; continuing education; payment of fees; effect of failure to renew; inactive status. (a) Licenses issued under this act may be renewed for successive three (3) year periods. The commission may establish a grace period for license renewal not to exceed sixty (60) …

Advertising; licensing under one name; trade names; advertisement of licensees. (a) Every real estate licensee, when promoting himself as a licensee, advertising or promoting his real estate activities, shall use the real estate company name under which he is licensed by the comm…

counsel. Assistance of attorney general; independent (a) The attorney general shall render opinions to the commission on all questions of law relating to the interpretation and administration of this act. The attorney general shall act as attorney for the commission in all action…

Temporary licenses to complete affairs of deceased brokers. In the event of the death of a responsible broker who is the sole proprietor of a real estate company, upon application by his personal representative, the director shall issue, without examination and for a specified pe…

Responsible broker's trust accounts; disposition of interest; commingling with personal funds prohibited; disputed deposits; cooperative transactions. (a) Every responsible broker licensed by the commission in this state shall comply with the following provisions for each license…

Retention of records. Every responsible broker licensed by the commission in this state shall keep and maintain a full set of records of every real estate transaction in which he participates on behalf of or to assist any party to the transaction. The records shall be maintained …

Act, error or omission in the rendering of real estate services. A cause of action arising from an act, error or omission in the rendering of services provided by a licensee under this act shall be brought within the time limits provided under W.S.

[Repealed or reserved.]

Real estate recovery account created; funding of account; no liability of state. (a) There is created a real estate recovery account which shall be under the direction of the commission under W.S. 33-28-201 through 33-28-206. (b) Every person obtaining or renewing a license shall…

Real estate recovery account created; payments; pro rata distribution when account insufficient; service of process; joinder of account. (a) If any person obtains a final judgment in any court of competent jurisdiction against any licensee on the grounds of fraud, willful misrepr…

Limitation on action for payment from account; notice of action; order of payment; showing required. (a) No order for payment from the real estate recovery account shall be issued unless the suit in which the order subsequently results was commenced within one (1) year after the …

Suspension of licenses following payment from account; reinstatement. If the commission is required to make any payment from the real estate recovery account in settlement of a claim or toward the satisfaction of a judgment, the commission shall immediately suspend the judgment d…

creditor. Subrogation of commission to rights of judgment If, upon order of any court, the commission has caused payment to be made from the real estate recovery account to a judgment creditor, the commission is subrogated to the rights of the judgment creditor with respect to th…

Fund balances; use of education fund and interest from recovery fund. (a) When the real estate recovery fund and education fund balances exceed fifty thousand dollars ($50,000.00) each, the commission shall not collect annual fees under W.S. 33-28-201(b). (b) The commission may u…

Repealed By Laws 2011, Ch. 104, § 2.

Relationships between licensees and the public. (a) A responsible broker shall not be required to offer or engage in more than one (1) of the broker relationships. When engaged in any real estate activity, a licensee, with permission of the licensee's responsible broker, may act …

Seller's agent engaged by seller. (a) A licensee engaged by a seller to act as a seller's agent has the following duties and obligations: (i) To perform the terms of the written agreement made with the seller; (ii) To exercise reasonable skill and care for the seller; (iii) To pr…

Agent engaged by buyer. (a) A licensee engaged by a buyer to act as a buyer's agent shall have the following duties and obligations: (i) To perform the terms of the written agreement made with the buyer; (ii) To exercise reasonable skill and care for the buyer; (iii) To promote t…

Intermediary. (a) A licensee engaged as an intermediary shall not act as an advocate or agent for either party and shall be limited to providing those services described in subsection (b)(ii) of this section. (b) A licensee engaged as an intermediary shall owe to each party with …

Relationship disclosures. (a) For purposes of this section, open house showings, preliminary conversations and requests for factual information do not constitute discussions or arrangements incidental to a sale, purchase, exchange or lease of real estate. Prior to engaging in any…

Change from agent to intermediary. (a) For in-house transactions, a licensee acting as an agent to a buyer or seller with respect to a particular real estate transaction may instead act as an intermediary to the parties when: (i) Repealed By Laws 2009, Ch. 20, § 3. (ii) Both part…

Compensation. (a) In any real estate transaction, the responsible broker's compensation may be paid by the seller, the buyer, a third party, or by the sharing or splitting of compensation between responsible brokers. (b) Payment of compensation shall not be construed to establish…

Disclosure type. Any disclosure under W.S. 33-28-306 shall be in a font size of 12 point or greater.

Licensees working with buyers and sellers as customers; duties; exceptions. (a) A licensee working with a buyer or seller who is a customer shall owe the following duties and obligations to the buyer or seller: (i) To exercise reasonable skill and care including: (A) Presenting a…

Licensees working with landlords and tenants. (a) For the purposes of this article, a licensee shall be deemed to be working with: (i) The landlord as an agent or intermediary pursuant to a written agreement; and (ii) The tenant who is a customer unless otherwise provided for in …

Errors and omissions insurance; rulemaking authority; commission duties; certificate of coverage; administrative fee. (a) Beginning January 1, 2008, an applicant for a real estate license pursuant to W.S. 33-28-106, a licensee renewing a license or an inactive licensee activating…