The "New" Chapter 452: Defining Real Estate Broker Practice

Robert C. Leibsle in the Wisconsin Lawyer

2005 Wisconsin Act 87, revising Wis. Stat. chapter 452, recognizes modern practice methods in real estate services and attempts to regulate them while facilitating the broker's effort to deliver efficient services to meet consumer demands. The Act addresses the broker's role and responsibility to the parties in a transaction, establishes new definitions for several agent/client relationships, and provides consumers with several choices in the level of service they wish to receive.