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The mandatory use date for the 2008 Residential Listing Contract and Buyer
Agency/Tenant Representation Agreement is July 1, 2008. Forms are now available
for purchase at
www.wra.org/forms
and in downloadable format for ZipFormDesktop at
www.zipform.com/support/updates.asp. ZipFormOnline users
receive automatic updates. The new forms are labeled
WB-1T and WB-36T.
The listing contract forms for farms, vacant land, residential
condominiums and commercial properties will likely be
available for optional use in a few months.
Why
new forms now?
The
primary reason for the revisions at this time is to
incorporate the statutory "Broker Disclosure to Clients"
language into the forms. In addition, while the current forms
have generally served REALTORS® well, the time has come for an
update to clarify language, create better definitions and fix
provisions that do not work well in day-to-day practice – to
improve the forms for the benefit of consumers and licensees
alike.
How are
the new forms developed?
The
forms are prepared and approved for use by the DRL. In
addition, the Wisconsin REALTORS® Association (WRA)
Forms Committee, chaired by REALTOR® Dwight Kruse,
has reviewed drafts of the forms and provided valuable
recommendations and suggestions.
Helpful Tools
Here are some tools to help you learn about the new forms.
- Line-by-Line video
explanation of form changes by Attorney Dave Sayas. Download
sample forms for review with the video:
- Real Estate CE1 and CE3
distance learning products available
- Wisconsin Real Estate Law
Manual available
- Explanation of the State of
Wisconsin WB-1 Residential Listing Contract and WB-11
Residential Offer to Purchase Consumer Brochure available
for order.
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