Course 1: Wisconsin Listing Contracts focuses on the new WB-1 Residential Listing Contract Exclusive Right to Sell. This course covers agency choices including new language to describe the agency choices. Furthermore, Course 1 explores updated delivery methods including email as a form of delivery and how to add email to contracts where it does not already exist. Also, Course 1 provides instruction on the revised commission section in the new listing and additional ways in which a buyer can become a protected buyer. This course reviews “as-is” sales and what they mean for the licensee and seller, and it also examines the disclosure requirements when a licensee is also the seller. Additional topics also include cooperation with other licensees, use of amendments, and marketing and advertising.

Course 2: Wisconsin Offers to Purchase reviews the use of the WB-11 Residential Offer to Purchase and also discusses using the financing, closing of the buyer’s property and secondary offer contingencies. Course 2 also covers “as-is” sales and what they mean for the buyer and the licensee, and the course further examines pre- and post-closing occupancy agreements. Additionally, Course 2 provides instruction on fees that can affect the transaction such as the transfer fee, homeowner’s association fees and condominium fees. Further, this course reviews closing documents after TILA-RESPA Integrated Disclosure (TRID) and examines the disclosure requirements when the buyer is a licensee. Other topics covered in this course include safety, scams and the insurability of a property.

Course 3: The revised Wisconsin New Developments updates licensees with the most recent changes and developments in real estate law, practices and procedures. Course 3 examines changes to Wisconsin statutes, administrative code provisions and case law. The course further provides instruction on revised forms including state forms and WRA forms. Also, this course covers pending and proposed legislative and regulatory changes, forms revisions and other potential changes to licensing regulations.

Course 4: Ethics and Best Practices satisfies the National Association of REALTORS^® Code of Ethics requirements. This course discusses ways to improve standards of practice by focusing on communication with consumers and other agents including confidentiality, disclosure, drafting and submission of written proposals, and providing services with reasonable skill and care. Furthermore, Course 4 considers procuring cause and dispute resolution, reviews rules for contacting represented sellers and buyers, and examines enforcement procedures for ethics and best practices. In addition, Course 4 explores the new statute of limitations for actions against licensees and how that changed record keeping rules for firms. Topics also include fair housing and responsibilities of firms and licensees.

Elective A: New Construction gives licensees an overview of the new construction process from negotiating the purchase to curing construction issues. This elective considers the role licensees play in negotiating the purchase of new construction for buyers, and it also provides instruction on public and private land use controls such as zoning and architectural approval boards that influence and control new construction. Elective A reviews the use of approved forms and which forms licensees should and should not be using through the new construction process. Furthermore, this elective explores the financial side of new construction including construction loans and lien law. Topics also include occupancy permits, inspections, basic construction information, insurance and the role of the title company.

Elective B: Wisconsin Investment Property and Property Management reviews the different aspects of rental property in Wisconsin. Elective B explores the nuts and bolts of rental property, offering something for everyone, whether an investor, a property manager, or the licensee negotiating the sale. Also, Elective B considers how a licensee influences transactions involving the sale, purchase or lease of rental property. This elective reviews approved forms and their use in transactions involving rental property and furthermore covers trust account regulations, lead-based paint disclosures and eviction procedure in Wisconsin. More topics include disposal of abandoned property, registration and permitting, valuing investment property, and the interaction between state law and local ordinance regulating rental properties.

Elective C: Financing focuses on the variety of ways in which a buyer finances a transaction as well as the associated federal and state laws that regulate financing programs. This elective considers the financing contingencies in the offers to purchase and how cash offers are addressed in the approved forms. Also, Elective C reviews various loan programs including USDA Rural Development financing and other government financing programs. In addition, this elective explores federal regulations governing the Loan Estimate and Closing Disclosure under TRID and their effect on closing procedures. This elective discusses alternate transfers including exchanges and lease-with-option transactions. Topics also include seller financing, the SAFE Act, RESPA, and closing documents for buyers and sellers.

Elective D: Other Wisconsin-approved Forms examines the use of the approved one-page forms such as notices, amendments, counter-offers, counter-proposals, and cancellation agreements and mutual releases (CAMR). Elective D explores the correct way to use each form and when it is in use, and this elective also provides instruction on when to use a notice and when to use an amendment in connection with a buyer’s home inspection contingency. This elective considers when and how to use a bill of sale when transferring personal property as part of the real estate transaction. Further, this elective reviews the important discussion of addenda including who can use them, when they can be used, who can draft them, how to use them and limitations on a licensee’s use. More topics in this elective include the correct way to use the CAMR and how buyers and sellers use these forms in negotiating during a transaction.