Wisconsin
Real Estate License Information
Description:
A real estate salesperson is an individual who negotiates the sale, purchase,
exchange or rental of another's interests in real estate, business opportunities
and options. According to the Wisconsin Statutes, a real estate salesperson
is an individual who is employed by a broker to perform any act authorized
by Chapter 452, Wis. Stats., to be performed by a broker. Acts performed
by a broker include:
a.
For another, and for commission, money or other thing of
value, negotiates or offers or attempts to negotiate a
sale, exchange, purchase or rental of an interest or estate
in real estate;
b.
Is engaged wholly or in part in the business of selling
real estate to the extent that a pattern of real estate
sales is established, whether or not such real estate is
owned by such person;
c.
For another and for commission, money or other thing of
value, negotiates or offers or attempts to negotiate a
sale, exchange, purchase or rental of any business, its
goodwill, inventory, fixtures or an interest therein; or
d.
Is engaged wholly or in part in the business of selling
business opportunities or goodwill of an existing business
or is engaged wholly or in part in the business of buying
and selling, exchanging or renting of any business, its
goodwill, inventory, fixtures or an interest therein.
e.
For another, and for commission, money or other thing of
value, negotiates or offers or attempts to negotiate a
sale, exchange or purchase of a time share.
f.
Is engaged wholly or in part in the business of selling
time shares to the extent that a pattern of sales is established,
whether or not the time shares are owned by such person.
g.
For another,and for a commission, money or other thing
of value, promotes the sale, exchange, purchase, option,
rental or leasing of real estate or business opportunities.
This paragraph does not apply to a person who only publishes
or disseminates verbatim information provided by another
person.
For
exceptions to the above, see s. 452.01(3), Wis. Stats.
No
person may engage in or follow the business or occupation
of, or advertise or hold himself or herself out as, or act
temporarily or otherwise as a salesperson without a Wisconsin
real estate salespersons license.
A
salesperson may engage in real estate practice only when
employed by a broker.
Education:
Complete
72 classroom hours of educational programs approved by the
Department for licensure as a salesperson. The Department
may waive this requirement upon proof that the applicant
has received 10 academic credits in real estate or real estate
related law courses from an accredited institution of higher
education.
Note:
Nonresident applicants must submit proof of completion of
at least 13 designated hours at a Wisconsin approved school.
Examinations:
Pass
both the national and Wisconsin salesperson examinations.
Information on these exams can be found by clicking here.
Examinations are administered by computer upon appointment.
Employment
by Broker: A salesperson must be employed by a
Wisconsin licensed broker. The initial application contains
a section that is to be completed by a broker if the applicant
has a prospective broker-employer. If the license is issued
without registering a broker-employer on this form, the
applicant will not be able to operate as a salesperson
until submitting a Notice of Real Estate Employment Form
which will be sent with the license so that the new licensee
will be able to register the name of the broker-employer.
If a licensee terminates employment with a broker, a Notice
of Termination of Employment of Salesperson Form must be
submitted by either the employee or the former broker-employer
within 10 days after termination of employment. A licensed
salesperson may act as an agent for a new broker-employer
after completing the Notice of Real Estate Employment Form
and paying a $10 fee.
Convictions
and Pending Charges: Convictions of crimes or
pending charges may be grounds for denial of license if
the circumstances of the conviction or charge are substantially
related to professional practice.
Stages
in Determination Process:
1. Complete required education.
2. Pass required examinations.
3. Obtain employment from a licensed Wisconsin broker.
4. Receive application for licensure at the exam center after passing the
exam. The application must be submitted within one year following the date
the applicant wrote and passed the examinations.
5. Submit application and all required documentation. The application has
a section to be completed by the prospective broker-employer. If one has
not been obtained at this time, a Notice of Real Estate Employment Form will
be sent with the license, for the applicant to register the name of the broker-employer
at that time.
6. Review of application. The Department will verify that applicant has passed
the required salesperson examinations. Educational materials will be reviewed.
7. Determination to grant credential or notice of denial.
People
Credentialed in Other States:
See Criteria-Education note for nonresident applicants. If an applicant has
been licensed in another state at any time during the past 2 years, he or she
needs only to complete the 13-hour designated course and pass the state portion
of the salesperson's exam.
People
Trained Outside the United States:
Contact the Department for more information. See education and examination
requirements above.
Common
Denial Reasons:
Educational materials incomplete. Fail written examination.
Other
Information:
Direct questions and requests for information about examinations to:
PSI
Examination Services
100 West Broadway, Suite 1100
Glendale, CA 91210-1202
(800)
733-9267
See
Chapters RL 12, 17, & 25, Wis. Admin. Code, and s. 452.09,
Wis. Stats.
Determination
Period (Days):
An
original application for a credential by law shall be reviewed
and a decision made within 60 business days after a complete
application has been received, but the average time for review
is 5 days. An application is considered completed when all
materials necessary to make a determination on the application
and all requested materials have been received.
Renewal
Requirements:
Date: Biennial renewal due by December
31 of even-numbered years
Click on link for complete listing of all renewal fees
Continuing Education Requirements: Licensees are required to sign a statement
of either:
taking 12 hours of continuing education at an approved school, or
taking and passing the 60 question Continuing Education Test-Out Examination
(available from July 1, of odd-numbered years through June 30 of even-numbered
years)
Department Contact:
Telephone: 608/266-5511
Direct
questions about license applications to:
Bureau
of Direct Licensing and Real Estate - Real Estate Salesperson
Department of Regulation and Licensing
1400 E. Washington Avenue
PO Box 8935
Madison, WI 53708
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