Education

Focuses on the listing contract including a review of Wisconsin’s agency models. Examines issues affecting commissions, how commissions are paid to listing brokers and cooperating brokers, and how seller-financed transactions shape commissions. Provides instruction on a seller’s and a licensee’s disclosure obligations including a seller’s real estate condition report, a licensee’s inspection of the property, lead-based paint disclosures, and when licensees are not obligated to disclose information. Reviews legal and ethical obligations when contacting or working with a seller represented by another broker.A comparison of transactions that may not result in a commission for a listing broker is also provided.

Provides an in-depth look at practice issues specifically concerning the revised WB - 11 Residential Offer to Purchase.  Topics covered include licensees’ competency when drafting offers, review of the proper method of delivering documents to parties according to the terms of a buyer’s offer, and requirements related to use of email delivery and electronic signatures. Also examines closing prorations, gap endorsement, testing and inspection, and the use of inspection, appraisal, financing, and closing of buyer’s property contingencies. Practice issues such as earnest money distribution, presentation of offers, disclosure of offers, rights of first refusal, and uses of both the WB - 41 Notice Relating to Offer to Purchase and WB - 40 Amendment to Offer to Purchase are also addressed.  

Updates real estate professionals with the most recent changes and developments in real estate law, practices, and procedures. Provides instruction on the revised Wisconsin Residential (WB - 11), Condominium (WB - 14), and Vacant Land (WB - 13) Offers to Purchase. Provides instruction on new disclosure requirements related to shoreland zoning, managed forest land, and other disclosure obligations. Reviews revised statutes and administrative code relating to the practice of real estate and developments in financing regulations affecting real estate practice in Wisconsin. 

Reviews the Wisconsin law and professional industry standards that govern the legal, ethical, and competency standards required of Wisconsin real estate licensees. Examines advertising rules and licensee conduct when advertising as principals in transactions, as agents, and as employees of brokers. Provides an overview of the emerging issues related to a licensee’s use of social media for advertising and networking and a broker’s responsibility to monitor those activities. Includes a review of issues related to procuring cause and professional standards created by Wisconsin law and the REALTOR® Code of Ethics. Reviews the resolution of ethics complaints, the Department of Regulation and Licensing’s procedure for handling complaints and a comparison of alternative dispute resolution and litigation. 

Provides real estate professionals an opportunity to receive an overview of general principles and legal proceedings in a Wisconsin foreclosure action. Examines options for distressed sellers and issues related to licensee representation of distressed sellers. Familiarizes licensees with the short sale process and provides tips when working with short sale, REO, and foreclosed properties to increase successful closings. Reviews the short sale process under the Home Affordable Foreclosure Alternatives (HAFA) program. Includes information on financing regulations related to and affecting short sales and foreclosures. 

Updates real estate professionals on environmental issues encountered in real estate transactions. Addresses testing and inspection obligations. Reviews potential contaminants including radon, carbon monoxide, lead based paint, arsenic, mold, asbestos, and water contaminants including nitrate, radium, and arsenic. Also reviews underground and aboveground storage tanks and the emerging property contamination issues of methamphetamine production and the use of Chinese drywall in construction. 

Tackles the correct use of approved forms including WB - 40 Amendment to Offer to Purchase, WB - 41 Notice Relating to Offer to Purchase, WB - 44 Counter-Offer, WB - 45 Cancellation Agreement & Mutual Release, WB - 46 Multiple Counter-Proposal and WB - 25 Bill of Sale. Provides instruction on the use of drafted and preprinted addenda to achieve the intent of the parties to a transaction. Examines proper drafting technique to use forms correctly.

 Reviews the financing and appraisal contingencies in the WB - 11 Residential Offer to Purchase and the effects on buyers, sellers, and licensees. Outlines the process for buyers seeking lending for a property. Provides instruction on seller financing issues including a seller’s option to finance a sale through land contracts and mortgages and the transactional effects when accepting offers contingent on financing and appraisal. Provides an overview of the challenges faced by licensees negotiating transactions with distressed sellers and buyers unable to find financing. Familiarizes licensees with alternative lending sources and new developments in financing regulations.