Section REEB 25.035 - Satisfaction of salesperson's educational requirements by out-of-state applicants(1) An applicant who has held an active real estate salesperson's license in another licensing jurisdiction within the 2-year period prior to filing an application for an original real estate salesperson's license in Wisconsin may satisfy the educational requirements of s. REEB 25.03(3) if the applicant submits evidence of one of the following: (a) Completion of the educational program in sub. (2) at a school approved by the board under s. REEB 25.05 or 25.06.(b) Satisfaction of the 10 semester-hour waiver in s. REEB 25.03(2).(2) The contents of the educational program under this subsection shall include all of the following and shall be designed so that if the educational program were presented as classroom education, it would be presented in no less than 13 hours: (a) Contracts.1. The law of conveyances. a. Conveyance defined - s. 706.01, Stats.b. Requirements for a void conveyance - ss. 706.02, 706.03, Stats.3. Review of forms approved by the board. c. Counteroffer and multiple counteroffer.e. Buyer agency agreement.i. Cancellation and mutual release.(b)Agency.1. Duties owed to parties and clients. - s. 452.133, Stats.2. Requirement for an agency agreement and disclosure of agency - s. 452.135, Stats.3. Multiple representation - s. 452.137, Stats. Note: Section 452.137, Stats., was repealed by 2005 Wis. Act 87.
4. Revisions to common law duties and responsibilities - s. 452.139, Stats.(c) Business conduct.1. Direct contact with the public. a. Competence in area of service - s. REEB 24.03.b. Tie-ins - s. REEB 24.075.c. Agreements in writing - s. REEB 24.08.d. Misleading market values - s. REEB 24.09.e. Net listings - s. REEB 24.10.2. Advertising - s. REEB 24.04.3. Completing and presenting offers - ss. REEB 24.12, 24.13. b. Drafting and submitting offers.c. Prompt delivery to buyer.d. Fair presentation of offers.4. Self-dealing - s. REEB 24.05. b. Disclosure of interest.d. Disclosure of profits.e. Disclosure of licensure.(d) Consumer protection.1. Property inspections - s. REEB 24.07(1) (a).2. Inquiry by listing broker - s. REEB 24.07(1) (b).3. Disclosure of material adverse facts - s. REEB 24.07(2).4. Disclosure of material suggesting adverse material facts - s. REEB 24.07(3).5. Disclosure of side agreements - s. REEB 24.07(4).6. Reliance upon third parties - s. REEB 24.07(5).7. Investigations and inspections - s. 452.23, Stats.8. Civil liability for misrepresentation.9. Seller's disclosure duties - ch. 709, Stats.(e)Fair housing. Wisconsin law - s. REEB 24.03(1), ss. 66.1011 and 106.50, Stats.(f)Environmental factors. 1. Underground storage tanks - ch. ATCP 93.2. Floodplains - s. 87.30, Stats., ss. NR 116.01, 116.06.3. Wetland - s. 23.32, Stats.4. Farmland preservation - ss. to 91.70, Stats.5. Rental unit energy efficiency standards - ss. SPS 367.03, 367.08.(g)Trust accounts and escrows.1. Trust accounts - s. 452.13, Stats., ch. REEB 18. a. Definition of trust account.b. Interest-bearing and non-interest-bearing accounts.c. Definition of trust funds.d. When a trust account is required.e. Deposit of trust funds.2. Escrow agreement procedures. a. Escrows requiring separate escrow agreements.b. Pre-closing earnest money escrows.d. Escrows not requiring separate escrow agreement.e. Drafting escrow agreements.(h)Miscellaneous issues.1. Condominiums - ss. 703.08, 703.21, 703.33, Stats.2. Homestead - ss. 706.01(7), 766.605, Stats.3. Taxes - ss. 74.15, 74.47(1) and (2), Stats.4. Taxation and transfer fee - ss. 77.22, 77.27, Stats.5. Residential rental practices - ss. ATCP 134.02, 134.06, 134.09.6. Platting and subdivisions - ss. 236.01 to 236.03 and 236.31 to 236.35, Stats.7. Documents and records - ch. REEB 15.8. Licensure and supervision of employees - ch. REEB 17.9. Commercial bulk sales - ss. 406.101 to 406.108, Stats. Note: Sections 406.101 to 406.108, Stats., were repealed by 2009 Wis. Act 110.
10. Property provision for aliens and corporations - ss. 710.01, 710.02, Stats.11. Property rights of married persons - ss. 766.31, 766.51, 766.60, 766.63, Stats.12. Mortgage banking - s. 224.71, Stats., s. DFI-Bkg 40.03(4) (b).Wis. Admin. Code Real Estate Examining Board REEB 25.035
Cr. Register, July, 1997, No. 499, eff. 8-1-97; rn. (1) to be (1) (intro.) and am., cr. (1) (a) and (b), Register, July, 1998, No. 511, eff. 8-1-98; am. (1), (2) (intro.), (a) to (h), Register, August, 1999, No. 524, eff. 9-1-99; corrections in (2) (e) made under s. 13.93(2m) (b) 7, Stats., Register November 2007 No. 623; correction in (2) (f) 1. made under s. 13.92(4) (b) 7, Stats., Register January 2011 No. 661; correction in (1) (intro.), (a), (b), (2) (a) 2., 3., (c) 1. a. to e., 2., 3. (intro.), 4. (intro.), (d) 1. to 6., (e), (f) 1., 5., (g) 1. (intro.), (h) 7., 8. made under s. 13.92(4) (b) 6, 7., Stats., Register November 2011 No. 671; correction in (2) (f) 1. made under s. 13.92(4) (b) 7, Stats., Register October 2013 No. 694. Section DFI-Bkg 40.03(4) (b) no longer exists, eff. 1-1-10.