Wisconsin Duties to Parties and Representation
Wisconsin law frames a licensee's obligations around statutory duties to all parties rather than traditional agency alone. This chapter reviews the duties under Wis. Stat. 452.133 and multiple representation.
Duties to All Parties (452.133)
Wisconsin Statute 452.133 requires a licensee to provide brokerage services honestly, fairly, and in good faith to all parties, exercise reasonable skill and care, keep confidential certain information, and disclose to each party material adverse facts the licensee knows and that the party cannot discover through reasonable inspection.
Clients vs. Customers
A client receives additional duties, such as loyalty and negotiation on the client's behalf, under a written agreement, while a customer is a party the firm does not represent but still owes the basic statutory duties. Wisconsin's framework emphasizes fair treatment and disclosure of material adverse facts to everyone in the transaction.
Multiple Representation
A Wisconsin firm may provide services to more than one party in the same transaction only with the parties' written consent after disclosure. In multiple representation, the firm's ability to advocate for each party is limited, and each party's confidential information must be protected.