Wisconsin Administrative Code Real Estate Examining Board
Here’s a detailed overview of the Wisconsin Administrative Code’s Real Estate Examining Board (REEB):
🏛️ Establishment & Authority
Created under Wis. Stat. § 15.405(11m) and empowered by statutes in Chapter 452 (Real Estate Practice), the REEB oversees licensing and regulation of real estate professionals in Wisconsin (dsps.wi.gov).
👥 Membership & Governance
The board consists of 7 members serving staggered four-year terms:
5 licensed brokers or salespersons
2 public members (dsps.wi.gov)
Members are appointed by the Governor and confirmed by the Senate, with a two-term limit, though they may continue serving past term expiration until successors are confirmed (wra.org).
Current officers include:
Chair: Thomas J. Richie (term ends 7/1/2026)
Vice Chair: Elizabeth A. Lauer (term ends 7/1/2026)
Secretary: Dennis M. Pierce, public member (content.govdelivery.com, dsps.wi.gov)
📚 Administrative Code Structure
The REEB’s regulations are organized into chapters:
REEB 11 – Authority and Definitions
REEB 12 – Applications
REEB 15 – Records and Copies
REEB 16 – Approved Forms and Legal Advice
REEB 17 – Licensees Associated with Firms
REEB 18 – Trust Accounts
REEB 23 – Name/Address Changes
REEB 24 – Conduct & Ethical Practices
REEB 25 – Education (regulations.justia.com, dsps.wi.gov)
These chapters define everything from application procedures and record-keeping to ethical standards, trust account management, approved forms, continuing education, and disciplinary processes.
🎯 Core Responsibilities & Functions
Per statute and administrative rules, the REEB's primary duties include:
Licensing brokers, salespersons, and entity registrations
Approving forms, including standard WB‑series forms used in real estate transactions (dsps.wi.gov, wra.org)
Setting education standards, including pre-license and continuing education
Handling renewals, denials, and application processes
Investigating and disciplining licensees—revoking, suspending, limiting licenses, issuing forfeitures, etc. (wra.org, law.justia.com)
Mandating trust account maintenance to safeguard client funds
Enforcing ethical conduct via REEB 24 (e.g., competency, advertising, disclosures, confidentiality) (wra.org, law.cornell.edu)
⚖️ Ethical & Legal Standards
Competence & disclosure obligations upheld in REEB 24.02–24.03, including clear definitions and ensuring minimal knowledge for inspections (law.cornell.edu)
Approved standard forms governed by REEB 16, allowing modification under strict rules (e.g., REEB 16.04(2) permits altering exclusive listing contracts) (docs.legis.wisconsin.gov)
Duty to report convictions: Licensees must self-report criminal convictions within 48 hours, per REEB 24.17(1) (content.govdelivery.com)
🏛️ Disciplinary Process
Investigations and enforcement are carried out under SPS chapters (1–9), which outline procedures for hearings, summary suspensions, warnings, injunctions, and renewals (dsps.wi.gov).
Notable disciplinary actions (April 2021–2023) involved license suspensions or reprimands related to conviction reporting violations (content.govdelivery.com).
✅ Summary
The REEB is the regulatory authority ensuring integrity in Wisconsin’s real estate market. It handles licensing across all types of practitioners, vets transaction forms, supervises education standards, enforces ethical conduct, and disciplines non-compliant licensees. Its framework spans REEB 11–25, with procedural enforcement in SPS chapters.
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