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The 2008 Residential Listing Contract and Buyer
Agency/Tenant Representation Agreement have been finalized by
the Department of Regulation and Licensing. The mandatory use
date of both forms is July 1, 2008. Forms are now available
for purchase at
www.wra.org/forms
and in downloadable format for ZipFormDesktop at
www.zipform.com/support/updates.asp. ZipFormOnline users
receive automatic updates. The old versions of the forms will
be available on ZipForm through June; new forms are labeled
WB-1T and WB-36T and immediately follow the 1999/2000 copies
in the forms list.
The listing contract forms for farms, vacant land, residential
condominiums and commercial properties will likely be
available for optional use in a few months.
Why
new forms now?
The
primary reason for the revisions at this time is to
incorporate the statutory "Broker Disclosure to Clients"
language into the forms. In addition, while the current forms
have generally served REALTORS® well, the time has come for an
update to clarify language, create better definitions and fix
provisions that do not work well in day-to-day practice – to
improve the forms for the benefit of consumers and licensees
alike.
How are
the new forms developed?
The
forms are prepared and approved for use by the DRL. In
addition, the Wisconsin REALTORS® Association (WRA)
Forms Committee, chaired by REALTOR® Dwight Kruse,
has reviewed drafts of the forms and provided valuable
recommendations and suggestions.
What's next?
In the coming month there
will be numerous opportunities to learn about the new forms.
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