Course 6 - Wisconsin Real Estate Transactions

Overview

Have you ever worked with a trustee? With someone holding power of attorney? With an out-of-state licensee? This course explores the issues licensees must be familiar with when working with representatives, including what it means to hold a power of attorney, and the ins and outs of working with trusts, estates, and business entities. It then examines option contracts and rights of first refusal and how these can help potential buyers secure a future interest in real property. The course concludes with a discussion of the rules that Wisconsin licensees must follow when working with out-of-state licensees including those governing referral fees, referral agreements, and cooperative agreements.

This course satisfies the three-hour requirement for Course 6, Wisconsin Real Estate Transactions.

Learning Objectives

Upon completion, students will be able to:

  • explain the requirements for working with different types of representatives, including those holding a power of attorney
  • describe the difference between an option to purchase and an offer to purchase
  • define rights of first refusal and explain the difficulties associated with their drafting
  • explain how to legally work with out-of-state licensees who wish to participate in a transaction
  • describe how to prepare a referral agreement
  • differentiate between a WB-28 Cooperative Agreement and a WB-29 Commercial Cooperative Agreement

Designed For

Wisconsin real estate brokers and sales persons
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