Wyoming Administrative Code Agency 018 - Real Estate Commission
1. What the Wyoming Administrative Code (WAC) Is
The Wyoming Administrative Code (WAC) is the official set of rules that state agencies create to implement laws passed by the Wyoming Legislature. Think of it like this:
Laws = broad requirements passed by the legislature (e.g., “real estate agents must be licensed”).
Administrative rules = detailed instructions on how those laws are applied and enforced (e.g., “to get a license, submit form X, pay fee Y, and pass exam Z”).
Each agency in Wyoming has a number. Agency 018 = Wyoming Real Estate Commission (WREC).
2. Wyoming Real Estate Commission (Agency 018)
The Real Estate Commission is the state agency that oversees real estate professionals in Wyoming, including:
Real estate brokers
Real estate salespersons (agents)
Real estate schools and instructors
Property managers in certain contexts
The main role of the Commission is to protect the public by making sure real estate professionals follow the law, maintain ethical standards, and are properly licensed.
3. Main Areas Covered in WAC 018
The rules in WAC 018 are detailed and divided into sections that regulate almost every aspect of real estate practice. Key areas include:
A. Licensing Requirements
Applicants for salesperson or broker licenses must meet education, age, and exam requirements.
Rules specify:
Pre-licensing courses
Continuing education (CE) requirements
Procedures for renewing licenses
Rules also cover license reinstatement if it lapses.
B. Brokerage and Supervision
Defines the duties of a broker to supervise agents.
Rules on:
Handling client funds (escrow accounts)
Recordkeeping
Advertising requirements
C. Standards of Practice and Ethics
Real estate professionals must follow ethical standards in dealings with clients and the public.
Rules prohibit:
Misrepresentation or fraud
Conflicts of interest
Unauthorized practice (acting as an agent without a license)
D. Education
Rules govern:
Real estate schools’ approval
Licensing instructors
Course content and hours required for pre-licensing and continuing education
E. Disciplinary Procedures
Defines actions the Commission can take if a licensee violates rules:
Fines
License suspension or revocation
Probation or other corrective actions
Sets out procedures for hearings and appeals.
F. Fees and Administration
Rules cover licensing fees, exam fees, late fees, and other administrative costs.
Also outline internal procedures for how the Commission operates.
4. How These Rules Work in Practice
Protecting the public: Ensures real estate transactions are conducted safely and legally.
Enforcing standards: Agents must follow these rules or risk discipline.
Guiding professionals: Provides a clear roadmap for education, licensing, and ethical behavior.
For example:
If someone wants to become a real estate agent, the WAC tells them exactly how many hours of classes to take, how to pass the exam, and how to maintain the license.
If a broker mishandles client funds, the WAC provides rules for investigation, hearings, and possible penalties.
5. Why WAC 018 Matters
Ensures consistency: All real estate professionals in Wyoming follow the same rules.
Protects consumers: Prevents fraud and unethical practices.
Provides accountability: Licensees are legally bound to follow the rules; violations can be punished.
Guides professionals: Clearly explains licensing, education, and operational standards.
✅ Summary
Wyoming Administrative Code, Agency 018 – Real Estate Commission is the set of rules that governs:
Licensing of brokers and salespersons
Education requirements and approvals
Standards of ethical practice
Supervision of agents by brokers
Handling complaints, investigations, and discipline
Administrative procedures, fees, and recordkeeping
It exists to ensure real estate in Wyoming is conducted fairly, safely, and legally.
RELATED Blog
comments