4801 Forest Run Road, Suite 201
Madison, WI 53704-7337
Persons who are paid or otherwise compensated to rent property and negotiate and sign leases for the owner fall within the definition of a broker under Wis. Stat. § 452.01(2). This statute states that a broker includes “any person who for another, and for commission, money or other thing of value, negotiates or offers or attempts to negotiate a sale, exchange, purchase or rental of an interest or estate in real estate.” This definition includes persons negotiating the terms of a rental interest in real estate. If the negotiation of lease terms or the drafting and signing of leases for another is involved, licensure is required. Brokers must have proper agency authority — typically a Property Management Agreement, a WB-37 Residential Listing Contract – Exclusive Right to Rent or an Exclusive Listing Contract Right to Rent Commercial Property — to provide property management services.