Agency
Wisconsin's agency disclosure requirement helps consumers understand:
AThe property's market value
BWho the licensee represents and what duties that creates✓ Correct
CThe closing costs they will pay
DThe property's tax assessment
Explanation
The agency disclosure informs consumers whether the licensee represents the seller, the buyer, both (dual agency), or neither (facilitator), and what duties flow from that relationship.
Related Wisconsin Agency Questions
- A Wisconsin buyer's agent who knows the seller is in financial distress but does NOT disclose this to the buyer is:
- A Wisconsin buyer's agent owes their client 'reasonable care.' This means the agent must:
- In Wisconsin, subagency means the cooperating broker's agent represents:
- A Wisconsin listing agent who discovers a material defect in the listed property must:
- The Wisconsin 'Disclosure to Customers' form is used when a licensee works with a party as a:
- A Wisconsin agent discovers a material defect in a listed property that the seller has not disclosed. The agent must:
- A Wisconsin licensee who represents a seller must disclose to that seller if the licensee has a personal financial interest in the transaction, such as:
- A Wisconsin buyer's agent writes an offer for a client. The offer is submitted and accepted. At this point, the agent's agency relationship with the buyer:
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