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Wisconsin Real Estate Listing Agreement

A wisconsin real estate listing agreement allows a real estate agent and owner to enter into an agreement for the broker to sell the owner`s residential property on their behalf. When the agent negotiates a sale, he earns a lump sum or commission based on a percentage of the final purchase price. WB-1 Residential Listing Contract – Exclusive Right to Sell – This document is approved by the Wisconsin Real Estate Examination Board to allow licensed brokers to enter into exclusive agreements to list and sell their clients` properties. The owner`s registration price, authorized marketing methods, access to the property and the registration period are all included in the agreement. Once the document is signed, the agent is legally authorized to register, market, access, show and negotiate the sale of the owner`s property. The Wisconsin listing agreement is used to formalize the agreement between a real estate agent and a real estate owner, where the broker is licensed to sell the owner`s property. The contract must have a start date and a termination date of the agreement, as well as the commission awarded to the broker when selling the property. The contract must also include any additional properties that the owner offers for sale. Once the contract form is signed by all parties, the broker has until the date of termination of the contract to act as the owner`s representative in the sale of his property. In the event that the broker successfully sells the owner`s property, he is entitled to the agreed commission. Find a Licensee – The Wisconsin Credential/License Search website can be used to verify a real estate agent`s license. Disclosure to Clients (§ 452-135 (2) (a)) – Before entering into an agreement, real estate agencies are required to provide clients with a disclosure statement from the Agency describing the relationship between the Client and the Agency.

The document also allows the client to determine the types of dual representation they allow. Declaration of Disclosure of Ownership (§ 709.01 (2), § 709.02 (1), § 709.03 and § 709.033) – Unless the buyer/acquirer is not a personal representative, trustee, custodian or trustee of the seller, or if the transaction is exempt from land acquisition fees, the seller must complete a declaration of disclosure on the real estate and make it available to the buyer in order to disclose the condition of the property. Declaration of Ownership Disclosure – Sellers of properties must provide buyers with a declaration of disclosure of ownership within ten (10) days of entering into a purchase agreement. When selling a condominium, the seller must also submit a condominium addendum to the property condition report. Agency Disclosure Form (§ 452-135 (2) (a)) – Real estate agencies must provide clients with a disclosure statement from the agency before entering into an agreement with them. Dual Agency (§ 452-135 (2) (a)) – Dual Agency is legal in Wisconsin as long as all parties give their written consent. Condominium Addendum to the Property Condition Report (§ 709.02(2)) – This addendum is completed by a real estate seller to provide a buyer with basic information about a condominium. This form must be completed and attached to the condition report of the property if the seller must submit one. .