Wisconsin License Law
A Wisconsin licensee must provide a Written Agency Disclosure to a seller before:
AThe property is listed in the MLS
BEntering into a listing agreement✓ Correct
CAn offer is received
DThe closing date
Explanation
Wisconsin law requires the agency disclosure to be provided before entering into a listing agreement (or buyer agency agreement), so the client understands the nature of the relationship.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
State-Specific Concepts
License Law
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