Wyoming Real Estate License Law
Wyoming real estate practice is governed by the Wyoming Real Estate License Act (W.S. Title 33, Chapter 28) and administered by the Wyoming Real Estate Commission. This chapter covers licensing authority, the responsible-broker structure, and how salespersons are supervised.
The Wyoming Real Estate Commission
The Wyoming Real Estate Commission licenses and regulates brokers and salespersons under the Wyoming Real Estate License Act (W.S. Title 33, Chapter 28). A license is required to perform real estate brokerage services for others for compensation unless an exemption applies. The Commission investigates complaints and may deny, suspend, or revoke a license and impose penalties for violations of the Act and its rules.
Salespersons and the Responsible Broker
A Wyoming salesperson must be associated with and supervised by a responsible broker and may not operate independently. The responsible broker is accountable for the affiliated licensees, the brokerage's trust accounts, and its transaction records. A salesperson is compensated only through the responsible broker with whom the license is associated.
Grounds for Discipline
The Commission may discipline a licensee for conduct such as misrepresentation, dishonest or fraudulent dealing, commingling or converting trust funds, failing to make required disclosures, and violating the Act or Commission rules. Penalties range from fines to suspension or revocation of the license. Mishandling money held for clients is treated as one of the most serious violations.