Wisconsin Real Estate Salesperson Exam — All Questions
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Under Wis. Stat. 452.133, a Wisconsin licensee owes duties to all parties to a transaction, including the duty to disclose to each party:
- a.Nothing about the property
- b.Material adverse facts the licensee knows✓
- c.The internal commission split
- d.The other party's personal motivation
Wisconsin Statute 452.133 sets duties a licensee owes to all parties, such as acting honestly and in good faith, and disclosing to each party material adverse facts that the licensee knows and that the party does not and could not discover through reasonable inspection.
In Wisconsin, a firm may provide brokerage services to more than one party in the same transaction (multiple representation) only with the:
- a.Approval of the Examining Board
- b.Written consent of the parties✓
- c.Verbal consent of one party
- d.Consent of the multiple listing service
Wisconsin permits a firm to represent more than one party in a transaction only when the parties give written consent after disclosure. Multiple representation limits how the firm can advocate for each client and requires protecting each party's confidential information.