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WRA License Law Updates

  2017 SB 455 relating to real estate practice was signed into law at the end of November with changes effective on 12.2.17 (except for the OSL commercial cooperation which goes into effect on 3.1.18 --see the December Wisconsin Real Estate magazine issue for more on commercial cooperation).
For a copy of the updated 2017 Wis. Act 110 please click here.

In a memo to local boards, WRA especially noted that as part of the changes, the law now requires a listing agreement in order to advertise a property. Newly created Wis. Stat. 452.136 (3) states:
Wis. Stat. 452.136 (3) ADVERTISING WITHOUT AGENCY AGREEMENT PROHIBITED. A firm and any licensees associated with the firm may not advertise a property unless one of the following applies:
(a) The firm is the listing firm for the property
(b) The firm or a licensee associated with the firm has obtained consent to advertise the property from the listing firm for the property

WRA will continue to update members on these changes in Legal Hottips, the Wisconsin R.E. magazine, Legal Updates and Legal Talks.





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