Wisconsin Continuing Education COURSE
Course 1 - Wisconsin Listing Contracts (2021-2022)
The WB-1 Residential Listing Contract – Exclusive Right to Sell contract provides the highest service to the seller and the most protection for the broker’s commission. It allows the listing agent to list the property and receive a commission, no matter who brings the buyer to the seller. Even when the owner finds a buyer, the listing agent is owed a commission, provided the sale occurs during the agreement term.
The WB-1 is also a comprehensive legal document. Its provisions address the myriad details involved in listing a residential property for sale. Because of its inherent complexities, it’s vital that licensees are clear on its stipulations and the correct way to handle them, including exclusions, extensions, modifications, cooperation, and early termination.
The course meets Wisconsin’s mandatory requirement for the Course 1 – Listing Contracts course.
Course highlights include:
- Procuring cause, protected buyers, and the protected buyers clause in the WB-1
- The exclusions and extension of the listing clauses in the WB-1 and how they relate to protected buyers
- The WB-1 form and how to use it correctly, including prepared addenda, copies, and retention requirements
- The WB-42 Amendment to the Listing Contract and its correct uses
- Best practices for terminating a listing agreement early, including addressing breach of contract concerns
- Wisconsin licensee compensation review
- RESPA’s stance on kickbacks and referrals
- The WB-1’s provisions for commissions and offers of compensation to cooperating licensees
- Cooperation and property access in Wisconsin
- The new NAR policy on clear cooperation, coming soon listings, and transparency