WITHOUT NOTICE. - Wisconsin · 16 REB 111 – Keith E. Garot MOTION: Jerry Lyons moved, seconded by...

Wisconsin Department of Safety and Professional Services Division of Policy Development

1400 E. Washington Ave

PO Box 8366 Madison WI 53708-8366

Phone: 608-266-2112

Web: http://dsps.wi.gov

Email: [email protected]

Scott Walker, Governor

Laura Gutiérrez, Secretary

REAL ESTATE EXAMINING BOARD

Room 199B, 1400 East Washington Avenue, Madison

Contact: Erin Karow (608) 266-2112

October 19, 2017

The following agenda describes the issues that the Board plans to consider at the meeting. At the time

of the meeting, items may be removed from the agenda. Please consult the meeting minutes for a record

of the actions of the Board.

AGENDA

10:00 A.M.

OPEN SESSION – CALL TO ORDER – ROLL CALL

A. Adoption of Agenda (1-3)

B. Approval of the Minutes (4-7) 1. August 17, 2017

C. Administrative Matters

1. Staff Updates

2. Board Member Recognition and Introductions

3. DSPS Website Re-Design (Launch Date: 11/12/2017)

4. Credential Monitoring Service Update

D. Legislative and Administrative Rule Matters (8-10)

1. Update Regarding 2017 Wisconsin Act 59

2. Scope Statement on REEB 24.17 Relating to Violation of Board Orders

3. Update on Legislation and Pending or Possible Rulemaking Projects

E. Real Estate Contractual Forms Advisory Council Update

1. WB-2 Farm Listing Contract (11-16)

2. WB-3 Vacant Land Listing Contract (17-22)

3. WB-4 Residential Condominium Listing Contract (23-29)

4. WB-5 Commercial Listing Contract (30-36)

5. WB-6 Business Listing Contract (37-43)

6. WB-37 Residential Listing Contract (44-49)

7. WB- 8 Time Share Listing Contract (50-55)

F. Discussion and Consideration of Items Received After Preparation of the Agenda:

1. Introductions, Announcements and Recognition

2. Election of Board Officers

3. Appointment of Board Liaison(s)

4. Administrative Updates

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http://dsps.wi.gov/

mailto:[email protected]

5. Education and Examination Matters

6. Credentialing Matters

7. Practice Matters

8. Legislation/Administrative Rule Matters

9. Liaison Report(s)

10. Informational Items

11. Disciplinary Matters

12. Presentation on Petition(s) for Summary Suspension(s)

13. Presentation on Designation(s) of Hearing Official

14. Requests for Disciplinary Proceeding Presentations

15. Motions

16. Petitions

17. Appearances from Requests Received or Renewed

18. Speaking Engagement(s), Travel, or Public Relation Request(s)

G. Public Comments

CONVENE TO CLOSED SESSION to deliberate on cases following hearing (s. 19.85(1)(a),

Stats.); to consider licensure or certification of individuals (s. 19.85(1)(b), Stats.); to consider

closing disciplinary investigations with administrative warnings (ss. 19.85 (1)(b), and 440.205,

Stats.); to consider individual histories or disciplinary data (s. 19.85 (1)(f), Stats.); and to confer

with legal counsel (s. 19.85(1)(g), Stats.).

H. Deliberation on Division of Legal Services and Compliance (DLSC) Matters

1. Administrative Warning(s)

a. 16 REB 087 (56-57) 2. Proposed Stipulation(s), Final Decision(s), and Order(s)

a. 17 REB 017 (58-63) 3. Case Closing(s)

4. Monitoring

a. Gabriel Albrecht – Requesting Full Licensure (64-74)

b. Eulanda Martin – Requesting Full Licensure (75-88)

c. Travis Schinke – Requesting Full Licensure (89-97)

I. Deliberation of Items Received After Preparation of the Agenda

1. Education and Examination Matters

2. Credentialing Matters

3. Disciplinary Matters

4. Professional Assistance Procedure (PAP)

5. Monitoring Matters

6. Petitions for Summary Suspension(s)

7. Proposed Stipulation(s), Final Decision(s) and Order(s)

8. Administrative Warning(s)

9. Review of Administrative Warning(s)

10. Proposed Final Decisions and Orders

11. Orders Fixing Costs/Matters Related to Costs

12. Case Closings

J. Consulting with Legal Counsel

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RECONVENE TO OPEN SESSION IMMEDIATELY FOLLOWING CLOSED SESSION

K. Vote on Items Considered or Deliberated Upon in Closed Session, if Voting is Appropriate

L. Open Session Items Noticed Above Not Completed in the Initial Open Session

ADJOURNMENT

The Next Scheduled Meeting is December 7, 2017.

************************************************************************************

MEETINGS AND HEARINGS ARE OPEN TO THE PUBLIC, AND MAY BE CANCELLED

WITHOUT NOTICE.

Times listed for meeting items are approximate and depend on the length of discussion and voting. All meetings

are held at 1400 East Washington Avenue, Madison, Wisconsin, unless otherwise noted. In order to confirm a

meeting or to request a complete copy of the board’s agenda, please call the listed contact person. The board may

also consider materials or items filed after the transmission of this notice. Times listed for the commencement of

disciplinary hearings may be changed by the examiner for the convenience of the parties. Interpreters for the

hearing impaired provided upon request by contacting the Affirmative Action Officer, 608-266-2112.

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Real Estate Examining Board

August 17, 2017

Meeting Minutes

Page 1 of 4


MEETING MINUTES

AUGUST 17, 2017

PRESENT: Kitty Jedwabny (via GoToMeeting), Jerry Lyons, Richard Marino, Dennis Pierce,

Thomas Richie, Robert Webster

STAFF: Erin Karow, Executive Director; Laura Smith, Bureau Assistant; and other Department

Staff

CALL TO ORDER

Robert Webster, Vice Chairperson, called the meeting to order at 10:05 a.m. A quorum of six (6)

members was confirmed.

ADOPTION OF AGENDA

Amendments to the Agenda:

• Change Item H(2)(a) to read ‘16 REB 111 – K.E.G.’

MOTION: Dennis Pierce moved, seconded by Richard Marino, to adopt the agenda as

amended. Motion carried unanimously.

APPROVAL OF THE MINUTES OF JUNE 15, 2017

MOTION: Richard Marino moved, seconded by Kitty Jedwabny, to approve the minutes of

June 15, 2017 as published. Motion carried unanimously.

ADMINISTRATIVE MATTERS

Board Member Recognition and Introductions

MOTION: Dennis Pierce moved, seconded by Kitty Jedwabny, to thank Randal Savaglio for

his years of service and leadership on the Real Estate Examining Board. Motion

carried unanimously.

MOTION: Dennis Pierce moved, seconded by Jerry Lyons, to thank Brian McGrath for his

service in representing the public of Wisconsin on the Real Estate Examining

Board. Motion carried unanimously.

Election of Officers:

Board Chair

NOMINATION: Kitty Jedwabny nominated Robert Webster for the Office of Board Chair.

Erin Karow called for nominations three (3) times.

Robert Webster was elected as Chair by unanimous consent.

Vice Chair

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August 17, 2017

Meeting Minutes

Page 2 of 4

NOMINATION: Dennis Pierce nominated Richard Marino for the Office of Vice Chair.

Erin Karow called for nominations three (3) times.

Richard Marino was elected as Vice Chair by unanimous consent.

Secretary

Kitty Jedwabny will remain in the role of Board Secretary.

AUGUST, 2017 ELECTION RESULTS

Chair Robert Webster

Vice Chair Richard Marino

Secretary Kitty Jedwabny

Liaison Appointments

AUGUST, 2017 LIAISON APPOINTMENTS

Credentialing Liaison Robert Webster

Alternate: Thomas Richie

Monitoring Liaison Jerry Lyons

Alternate: Thomas Richie

Professional Assistance

Procedure (PAP) Liaison

Robert Webster

Alternate: Richard Marino

Office of Education and

Examinations Liaison

Richard Marino

Alternate: Kitty Jedwabny

Screening Panel Team 1

Dennis Pierce and Robert

Webster

Screening Panel Team 2 Richard Marino and Jerry Lyons

Screening Panel Team 3

Kitty Jedwabny and Thomas

Richie

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August 17, 2017

Meeting Minutes

Page 3 of 4

2017 COMMITTEE MEMBER APPOINTMENTS

Real Estate Rules Committee Jerry Lyons, Kitty Jedwabny

Real Estate Contractual

Forms Advisory Committee

Richard Marino (Chair), Robert

Webster

Council on Real Estate

Curriculum and

Examination Chair

Kitty Jedwabny

MOTION: Jerry Lyons moved, seconded by Dennis Pierce, to affirm the Chair’s appointment

of liaisons for terms beginning August 17, 2017. Motion carried unanimously.

LEGISLATIVE AND ADMINISTRATIVE RULE MATTERS

Amend REEB 25 Scope to Include REEB 16.03 Relating to Use of Forms

MOTION: Richard Marino moved, seconded by Jerry Lyons, to authorize the Chair to

approve the Scope Statement relating to obsolete cross-references in real estate

broker education and update terminology for submission to the Governor’s Office

and publication, and to authorize the Chair to approve the scope for

implementation no less than 10 days after publication. Motion carried

unanimously.

CLOSED SESSION

MOTION: Dennis Pierce moved, seconded by Jerry Lyons, to convene to closed session to

deliberate on cases following hearing (s. 19.85(1)(a), Stats.); to consider licensure

or certification of individuals (s. 19.85(1)(b), Stats.); to consider closing

disciplinary investigations with administrative warnings (ss. 19.85 (1)(b), and

440.205, Stats.); to consider individual histories or disciplinary data (s. 19.85

(1)(f), Stats.); and to confer with legal counsel (s. 19.85(1)(g), Stats.). The Chair

read the language of the motion. The vote of each member was ascertained by

voice vote. Roll Call Vote: Kitty Jedwabny-yes; Jerry Lyons-yes; Richard

Marino-yes; Dennis Pierce-yes; Thomas Richie-yes; Robert Webster-yes. Motion


The meeting convened into Closed Session at 10:51 a.m.

RECONVENE TO OPEN SESSION

MOTION: Dennis Pierce moved, seconded by Richard Marino, to reconvene into open

session. Motion carried unanimously.

The meeting reconvened into Open Session at 11:10 a.m.

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August 17, 2017

Meeting Minutes

Page 4 of 4

VOTE ON ITEMS CONSIDERED OR DELIBERATED UPON IN CLOSED SESSION,

IF VOTING IS APPROPRIATE

MOTION: Richard Marino moved, seconded by Dennis Pierce, to affirm all votes made in

Closed Session. Motion carried unanimously.

(Be advised that any recusals or abstentions reflected in the closed session motions stand for the

purposes of the affirmation vote.)

DIVISION OF LEGAL SERVICES AND COMPLIANCE (DLSC) MATTERS

Administrative Warning(s)

17 REB 011 – (J.L.G.)

MOTION: Dennis Pierce moved, seconded by Richard Marino, to issue an Administrative

Warning in the matter of DLSC case number 17 REB 011 regarding J.L.G.

Motion carried unanimously.

Proposed Stipulations, Final Decisions and Orders

16 REB 111 – Keith E. Garot

MOTION: Jerry Lyons moved, seconded by Thomas Richie, to adopt the Findings of Fact,

Conclusions of Law and Order in the matter of disciplinary proceedings against

Keith E. Garot, DLSC case number 16 REB 111. Motion carried unanimously.

Case Closings

16 REB 024

MOTION: Thomas Richie moved, seconded by Jerry Lyons, to close DLSC case number 16

REB 024 for Insufficient Evidence for Prosecution. Motion carried unanimously.

ADJOURNMENT

MOTION: Jerry Lyons moved, seconded by Thomas Richie, to adjourn the meeting. Motion


The meeting adjourned at 11:18 a.m.

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State of Wisconsin Department of Safety & Professional Services

Revised 8/13

AGENDA REQUEST FORM 1) Name and Title of Person Submitting the Request: Sharon Henes

Administrative Rules Coordinator

2) Date When Request Submitted: 10 October 2017

Items will be considered late if submitted after 12:00 p.m. on the deadline date:

▪ 8 business days before the meeting

3) Name of Board, Committee, Council, Sections: Real Estate Examining Board

4) Meeting Date: 19 October 2017

5) Attachments:

Yes

No

6) How should the item be titled on the agenda page? Legislation and Rule Matters – Discussion and Consideration

1. Scope Statement on REEB 24.17 Relating to Violation of Board Orders 2. Update on Legislation and Pending and Possible Rulemaking Projects

7) Place Item in:

Open Session

Closed Session

Both

8) Is an appearance before the Board being scheduled?

Yes (Fill out Board Appearance Request)

No

9) Name of Case Advisor(s), if required:

10) Describe the issue and action that should be addressed:

11) Authorization

Sharon Henes

Signature of person making this request Date

Supervisor (if required) Date

Executive Director signature (indicates approval to add post agenda deadline item to agenda) Date Directions for including supporting documents: 1. This form should be attached to any documents submitted to the agenda. 2. Post Agenda Deadline items must be authorized by a Supervisor and the Policy Development Executive Director. 3. If necessary, Provide original documents needing Board Chairperson signature to the Bureau Assistant prior to the start of a meeting.

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Board%20Appearance%20Request%20Form.doc

Rev. 3/6/2012

STATEMENT OF SCOPE


Rule No.: REEB 24.17

Relating to: Violation of Board Orders

Rule Type: Permanent

1. Finding/nature of emergency (Emergency Rule only): N/A 2. Detailed description of the objective of the proposed rule: The objective is to clarify that it is unprofessional conduct to violate an order of the Real Estate Examining Board. 3. Description of the existing policies relevant to the rule, new policies proposed to be included in the rule, and an analysis of policy alternatives: Existing policy states licensees shall not violate any provisions or terms or conditions of any disciplinary order of the Board. The Board issues other orders, for example issuing a limited license order instead of denying a license to applicants who create safety concerns for the public but could practice safely with some certain limitiations in place. The proposed rule would clarify that it is unprofessional conduct to violate any order of the Board. 4. Detailed explanation of statutory authority for the rule (including the statutory citation and language): 15.08 (5) (b) Each examining board shall promulgate rules for its own guidance and for the guidance of the profession to which it pertains, and define and enforce professional conduct and unethical practices not inconsistent with the law relating to the particular trade or profession. 452.07 (1) The board shall promulgate rules for the guidance of the real estate profession and define professional conduct and unethical practice. 5. Estimate of amount of time that state employees will spend developing the rule and of other resources necessary to develop the rule: 50 hours 6. List with description of all entities that may be affected by the proposed rule: Real estate licensees 7. Summary and preliminary comparison with any existing or proposed federal regulation that is intended to address the activities to be regulated by the proposed rule: None

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8. Anticipated economic impact of implementing the rule (note if the rule is likely to have a significant economic impact on small businesses): None to minimal. The rule is not likely to have a significant economic impact on small businesses. Contact Person: Sharon Henes, Administrative Rules Coordinator, (608) 261-2377 Authorized Signature

Date Submitted

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Approved by the Wisconsin Real Estate Examining Board 11-1-17 (Optional Use Date) 1-1-18 (Mandatory Use Date)

SELLER GIVES THE FIRM THE EXCLUSIVE RIGHT TO SELL THE PROPERTY ON THE FOLLOWING TERMS: 1

■ PROPERTY DESCRIPTION: Street address is: ________________________________________________________ 2

___________________________________________________________________ in Section _____________________ 3

in the _____________ of ___________________________, County of _________________, Wisconsin. (Total acreage 4

and breakdown of tillable, pasture or wood lot acreage, etc., may be stated at lines 318-320, or attached as an addendum 5

per line 321.) Insert additional description, if any, at lines 318-320 or attach as an addendum per line 321. 6

■ INCLUDED IN LIST PRICE: Seller is including in the list price the Property, Fixtures not excluded on lines 12-16, and 7

the following items: _____________________________________________________________________________ 8

_________________________________________________________________________________________________9

_________________________________________________________________________________________________10

________________________________________________________________________________________________. 11

■ NOT INCLUDED IN LIST PRICE: ___________________________________________________________________ 12

_________________________________________________________________________________________________13

_________________________________________________________________________________________________14

_________________________________________________________________________________________________15

________________________________________________________________________________________________. 16

CAUTION: Identify Fixtures to be excluded by Seller or which are rented and will continue to be owned by the 17

lessor. (See lines 238-256). 18

■ LIST PRICE: ______________________________________________________ Dollars ($ ____________________ ). 19

■ ZONING: Seller represents that the property is zoned: ________________________________________________. 20

■ GOVERNMENTAL AND CONSERVATION PROGRAMS: Seller represents that all or some of the Property is enrolled 21

in the following governmental conservation, farmland, environmental, land use or use restricting programs, agreements or 22

conservation easements (county, state or federal): ________________________________________________________ 23

_________________________________________________________________________________________________24

________________________________________________________________________________________________. 25

■ USE VALUE ASSESSMENT: Seller represents that (all or some of the Property) (none of the Property) 26

STRIKE ONE has been assessed as agricultural property under use value law. 27

■ RIGHT OF FIRST REFUSAL: There (is) (is not) STRIKE ONE a right of first refusal on part or all of the Property. 28

MARKETING Seller authorizes and the Firm and its agents agree to use reasonable efforts to market the Property. 29

Seller agrees that the Firm and its agents may market Seller’s personal property identified on lines 7-11 during the term of 30

this Listing. The marketing may include: _________________________________________________________________ 31

________________________________________________________________________________________________. 32

The Firm and its agents may advertise the following special financing and incentives offered by Seller: ______________ 33

_______________________________________________________________________________________________. 34

Seller has a duty to cooperate with the marketing efforts of the Firm and its agents. See lines 122-128 regarding the 35

Firm’s role as marketing agent and Seller’s duty to notify the Firm of any potential buyer known to Seller. Seller agrees 36

that the Firm and its agents may market other properties during the term of this Listing. 37

EXCLUSIONS All persons who may acquire an interest in the Property who are Protected Buyers under a prior listing 38

contract are excluded from this Listing to the extent of the prior firm’s legal rights, unless otherwise agreed to in writing. 39

Within seven days of the date of this Listing, Seller agrees to deliver to the Firm a written list of all such Protected Buyers. 40

NOTE: If Seller fails to timely deliver this list to the Firm, Seller may be liable to the Firm for damages and costs. The 41

following other buyers _______________________________________________________________________________ 42

_________________________________________ are excluded from this Listing until ___________________________ 43

[INSERT DATE]. These other buyers are no longer excluded from this Listing after the specified date unless, on or before 44

the specified date, Seller has either accepted a written offer from the buyer or sold the Property to the buyer. 45

COMPENSATION TO OTHERS The Firm offers the following commission to cooperating firms:______________________ 46

_______________________________. (Exceptions if any):____________________________________________________. 47

COMMISSION The Firm’s commission shall be __________________________________________________________ 48

________________________________________________________________________________________________. 49

■ EARNED: Seller shall pay the Firm’s commission, which shall be earned, if, during the term of this Listing: 50

1) Seller sells or accepts an offer which creates an enforceable contract for the sale of all or any part of the Property; 51

2) Seller grants an option to purchase all or any part of the Property which is subsequently exercised; 52

3) Seller exchanges or enters into a binding exchange agreement on all or any part of the Property; 53

4) A transaction occurs which causes an effective change in ownership or control of all or any part of the Property; or 54

WB-2 FARM LISTING CONTRACT - EXCLUSIVE RIGHT TO SELL

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5) A ready, willing and able buyer submits a bona fide written offer to Seller or the Firm for the Property at, or above, 55

the list price and on substantially the same terms set forth in this Listing and the current WB-12 Farm Offer To 56

Purchase, even if Seller does not accept the buyer's offer. A buyer is ready, willing and able when the buyer 57

submitting the written offer has the ability to complete the buyer’s obligations under the written offer. 58

The Firm’s commission shall be earned if, during the term of the Listing, one seller of the Property sells, conveys, 59 exchanges or options, as described above, an interest in all or any part of the Property to another owner, except by 60 divorce judgment. 61

■ DUE AND PAYABLE: Once earned, the Firm’s commission is due and payable in full at the earlier of closing or the date set 62

for closing, even if the transaction does not close, unless otherwise agreed in writing. 63

■ CALCULATION: A percentage commission shall be calculated based on the following, if earned above: 64

Under 1) or 2) the total consideration between the parties in the transaction. 65

Under 3) or 4) the list price if the entire Property is involved. 66

Under 3) if the exchange involves less than the entire Property or under 4) if the effective change in ownership or 67

control involves less than the entire Property, the fair market value of the portion of the Property exchanged or for 68

which there was an effective change in ownership or control. 69

Under 5) the total offered purchase price. 70

NOTE: If a commission is earned for a portion of the Property it does not terminate the Listing as to any 71

remaining Property. 72

BUYER FINANCIAL CAPABILITY The Firm and its agents are not responsible under Wisconsin statutes or regulations to 73

qualify a buyer’s financial capability. If Seller wishes to confirm a buyer’s financial capability, Seller may negotiate inclusion of a 74

contingency for financing, proof of funds, qualification from a lender, sale of buyer’s property, or other confirmation in any offer 75

to purchase or contract. 76

OCCUPANCY Unless otherwise provided, Seller agrees to give buyer occupancy of the Property at time of closing. 77

Unless otherwise agreed, Seller agrees to have any residential dwelling in broom swept condition and the Property free of 78

all debris and personal property except for personal property belonging to current tenants, sold to buyer or left with 79

buyer’s consent. Should Seller or Seller’s tenant occupy the Property after closing or retain ownership of crops, consider a 80

special agreement regarding an occupancy escrow, insurance, utilities, maintenance, responsibility for and rights to 81

unharvested crops, farm operations and government programs, etc. 82

REAL ESTATE CONDITION REPORT Seller agrees to complete the real estate condition report provided by the Firm to 83

the best of Seller's knowledge. Seller agrees to amend the report should Seller learn of any Defect(s) after completion of 84 the report but before acceptance of a buyer's offer to purchase. Seller authorizes the Firm and its agents to distribute the 85 report to all interested parties and agents inquiring about the Property. Seller acknowledges that the Firm and its agents 86 have a duty to disclose all Material Adverse Facts as required by law. 87

SELLER REPRESENTATIONS REGARDING DEFECTS Seller represents to the Firm that as of the date of this Listing, 88

Seller has no notice or knowledge of any Defects affecting the Property other than those noted on the real estate 89

condition report. 90

WARNING: IF SELLER REPRESENTATIONS ARE INCORRECT OR INCOMPLETE, SELLER MAY BE LIABLE FOR 91

DAMAGES AND COSTS. 92

OPEN HOUSE AND SHOWING RESPONSIBILITIES Seller is aware that there is a potential risk of injury, damage 93

and/or theft involving persons attending an "individual showing" or an "open house." Seller accepts responsibility for 94

preparing the Property to minimize the likelihood of injury, damage and/or loss of personal property. Seller agrees to hold 95

the Firm and its agents harmless for any losses or liability resulting from personal injury, property damage, or theft 96

occurring during "individual showings" or "open houses" other than those caused by the negligence or intentional 97

wrongdoing of the Firm or its agents. Seller acknowledges that individual showings and open houses may be conducted 98

by licensees other than the Firm, that appraisers and inspectors may conduct appraisals and inspections without being 99

accompanied by agents of the Firm or other licensees, and that buyers or licensees may be present at all inspections and 100

testing and may photograph or videotape Property unless otherwise provided for in additional provisions at lines 318-320 101

or in an addendum per line 321. 102

DISPUTE RESOLUTION The Parties understand that if there is a dispute about this Listing or an alleged breach, and 103

the parties cannot resolve the dispute by mutual agreement, the parties may consider judicial resolution in court or may 104

consider alternative dispute resolution. Alternative dispute resolution may include mediation and binding 105

arbitration. Should the parties desire to submit any potential dispute to alternative dispute resolution, it is recommended 106

that the parties add such in Additional Provisions or in an Addendum. 107

EXTENSION OF LISTING The Listing term is extended for a period of one year as to any Protected Buyer. Upon receipt 108

of a written request from Seller or a firm that has listed the Property, the Firm agrees to promptly deliver to Seller a written 109

list of those buyers known by the Firm and its agents to whom the extension period applies. Should this Listing be 110

terminated by Seller prior to the expiration of the term stated in this Listing, this Listing shall be extended for Protected 111

Buyers, on the same terms, for one year after the Listing is terminated (lines 113-121). 112

TERMINATION OF LISTING Neither Seller nor the Firm has the legal right to unilaterally terminate this Listing absent a 113

material breach of contract by the other party. Seller understands that the parties to the Listing are Seller and the Firm. 114

Agents for the Firm do not have the authority to enter into a mutual agreement to terminate the Listing, amend the 115

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commission amount or shorten the term of this Listing, without the written consent of the agent(s)’ supervising broker. 116

Seller and the Firm agree that any termination of this Listing by either party before the date stated on line 326 shall be 117

effective by the Seller only if stated in writing and delivered to the Firm in accordance with lines 296-317 and effective by 118

the Firm only if stated in writing by the supervising broker and delivered to Seller in accordance with lines 296-317. 119

CAUTION: Early termination of this Listing may be a breach of contract, causing the terminating party to 120

potentially be liable for damages. 121

SELLER COOPERATION WITH MARKETING EFFORTS Seller agrees to cooperate with the Firm in the Firm’s 122

marketing efforts and to provide the Firm with all records, documents and other material in Seller's possession or control 123

which are required in connection with the sale. Seller authorizes the Firm and its agents to do those acts reasonably 124

necessary to effect a sale and Seller agrees to cooperate fully with these efforts which may include use of a multiple 125

listing service, Internet advertising or a lockbox system on the Property. Seller shall promptly refer all persons making 126

inquiries concerning the Property to the Firm and notify the Firm in writing of any potential buyers with whom Seller 127

negotiates or who view the Property with Seller during the term of this Listing. 128

LEASED PROPERTY If Property is currently leased and lease(s) will extend beyond closing, Seller shall assign Seller's 129

rights under the lease(s) and transfer all security deposits and prepaid rents (subject to agreed upon prorations) 130

thereunder to buyer at closing. Seller acknowledges that Seller remains liable under the lease(s) unless released by 131

tenants. 132

CAUTION: Seller should consider obtaining an indemnification agreement from buyer for liabilities under the 133

lease(s) unless released by tenant(s), and should address any crop rights and carryovers. 134

DISCLOSURE TO CLIENTS 135

Under Wisconsin law, a brokerage firm (hereinafter firm) and its brokers and salespersons (hereinafter agents) owe 136

certain duties to all parties to a transaction: 137

(a) The duty to provide brokerage services to you fairly and honestly. 138

(b) The duty to exercise reasonable skill and care in providing brokerage services to you. 139

(c) The duty to provide you with accurate information about market conditions within a reasonable time if you request it, 140

unless disclosure of the information is prohibited by law. 141

(d) The duty to disclose to you in writing certain Material Adverse Facts about a property, unless disclosure of the 142

information is prohibited by law. (See lines 257-260.) 143

(e) The duty to protect your confidentiality. Unless the law requires it, the firm and its agents will not disclose your 144

confidential information or the confidential information of other parties. (See lines 199-215.) 145

(f) The duty to safeguard trust funds and other property the firm or its agents holds. 146

(g) The duty, when negotiating, to present contract proposals in an objective and unbiased manner and disclose the advantages and disadvantages of the proposals.

BECAUSE YOU HAVE ENTERED INTO AN AGENCY AGREEMENT WITH A FIRM, YOU ARE THE FIRM’S CLIENT. 147

A FIRM OWES ADDITIONAL DUTIES TO YOU AS A CLIENT OF THE FIRM: 148

(a) The firm or one of its agents will provide, at your request, information and advice on real estate matters that affect 149

your transaction, unless you release the firm from this duty. 150

(b) The firm or one of its agents must provide you with all material facts affecting the transaction, not just Adverse Facts. 151

(c) The firm and its agents will fulfill the firm’s obligations under the agency agreement and fulfill your lawful requests that 152

are within the scope of the agency agreement. 153

(d) The firm and its agents will negotiate for you, unless you release them from this duty. 154

(e) The firm and its agents will not place their interests ahead of your interests. The firm and its agents will not, unless 155

required by law, give information or advice to other parties who are not the firm’s clients, if giving the information or 156

advice is contrary to your interests. 157

If you become involved in a transaction in which another party is also the firm’s client (a "multiple representation 158

relationship"), different duties may apply. 159

MULTIPLE REPRESENTATION RELATIONSHIPS AND DESIGNATED AGENCY 160

■ A multiple representation relationship exists if a firm has an agency agreement with more than one client who is a party 161

in the same transaction. If you and the firm’s other clients in the transaction consent, the firm may provide services 162

through designated agency, which is one type of multiple representation relationship. 163

■ Designated agency means that different agents with the firm will negotiate on behalf of you and the other client or 164 clients in the transaction, and the firm’s duties to you as a client will remain the same. Each agent will provide information, 165 opinions, and advice to the client for whom the agent is negotiating, to assist the client in the negotiations. Each client will 166 be able to receive information, opinions, and advice that will assist the client, even if the information, opinions, or advice 167 gives the client advantages in the negotiations over the firm’s other clients. An agent will not reveal any of your 168 confidential information to another party unless required to do so by law. 169 ■ If a designated agency relationship is not authorized by you or other clients in the transaction you may authorize or 170 reject a multiple representation relationship in which the firm may provide brokerage services to more than one client in a 171 transaction but neither the firm nor any of its agents may assist any client with information, opinions, and advice which 172 may favor the interests of one client over any other client. Under this neutral approach, the same agent may represent 173 more than one client in a transaction. 174 ■ If you do not consent to a multiple representation relationship the firm will not be allowed to provide brokerage services 175 to more than one client in the transaction. 176

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CHECK ONLY ONE OF THE THREE BELOW: 177

The same firm may represent me and the other party as long as the same agent is not representing us both. 178

(multiple representation relationship with designated agency) 179

The same firm may represent me and the other party, but the firm must remain neutral regardless if one or 180

more different agents are involved. (multiple representation relationship without designated agency) 181

The same firm cannot represent both me and the other party in the same transaction. (I reject multiple 182

representation relationships) 183

NOTE: All clients who are parties to this agency agreement consent to the selection checked above. You may 184 modify this selection by written notice to the firm at any time. Your firm is required to disclose to you in your 185 agency agreement the commission or fees that you may owe to your firm. If you have any questions about the 186 commission or fees that you may owe based upon the type of agency relationship you select with your firm, you 187 should ask your firm before signing the agency agreement. 188

SUBAGENCY 189 Your firm may, with your authorization in the agency agreement, engage other firms (subagent firms) to assist your firm by 190 providing brokerage services for your benefit. A subagent firm and the agents associated with the subagent firm will not 191 put their own interests ahead of your interests. A subagent firm will not, unless required by law, provide advice or opinions 192 to other parties if doing so is contrary to your interests. 193

PLEASE REVIEW THIS INFORMATION CAREFULLY. An agent can answer your questions about brokerage services, 194

but if you need legal advice, tax advice, or a professional home inspection, contact an attorney, tax advisor, or home 195

inspector. 196

This disclosure is required by section 452.135 of the Wisconsin statutes and is for information only. It is a plain language 197

summary of the duties owed to you under section 452.133 (2) of the Wisconsin statutes. 198 ■ CONFIDENTIALITY NOTICE TO CLIENTS: The Firm and its agents will keep confidential any information given to the 199 Firm or its agents in confidence, or any information obtained by the Firm or its agents that a reasonable person would 200 want to be kept confidential, unless the information must be disclosed by law or you authorize the Firm to disclose 201 particular information. The Firm and its agents shall continue to keep the information confidential after the Firm is no 202 longer providing brokerage services to you. 203 The following information is required to be disclosed by law: 204 1) Material adverse facts, as defined in section 452.01 (5g) of the Wisconsin statutes (see lines 257-260). 205 2) Any facts known by the Firm and its agents that contradict any information included in a written inspection report on 206

the property or real estate that is the subject of the transaction. 207 To ensure that the Firm and its agents are aware of what specific information you consider confidential, you may list that 208 information below (see lines 211-212). At a later time, you may also provide the Firm with other information you consider 209 to be confidential. 210 CONFIDENTIAL INFORMATION: _____________________________________________________________________ 211 ________________________________________________________________________________________________. 212 NON-CONFIDENTIAL INFORMATION (The following may be disclosed by the Firm and its agents):_________________ 213 _________________________________________________________________________________________________214 ________________________________________________________________________________________________. 215

COOPERATION, ACCESS TO PROPERTY OR OFFER PRESENTATION The parties agree that the Firm and its 216

agents will work and cooperate with other firms and agents in marketing the Property, including firms acting as subagents 217

(other firms engaged by the Firm - see lines 189-193) and firms representing buyers. Cooperation includes providing 218

access to the Property for showing purposes and presenting offers and other proposals from these firms to Seller. Note 219

any firms with whom the Firm shall not cooperate, any firms or agents or buyers who shall not be allowed to attend 220

showings, and the specific terms of offers which should not be submitted to Seller: _______________________________ 221

________________________________________________________________________________________________. 222

CAUTION: Limiting the Firm’s cooperation with other firms may reduce the marketability of the Property. 223

DEFINITIONS 224

■ ADVERSE FACT: An "Adverse Fact" means any of the following: 225 (a) A condition or occurrence that is generally recognized by a competent licensee as doing any of the following: 226

1) Significantly and adversely affecting the value of the Property; 227 2) Significantly reducing the structural integrity of improvements to real estate; or 228 3) Presenting a significant health risk to occupants of the Property. 229

(b) Information that indicates that a party to a transaction is not able to or does not intend to meet his or her obligations 230 under a contract or agreement made concerning the transaction. 231

■ DEADLINES – DAYS: Deadlines expressed as a number of "days" from an event are calculated by excluding the day 232 the event occurred and by counting subsequent calendar days. 233

■ DEFECT: “Defect” means a condition that would have a significant adverse effect on the value of the Property; that 234

would significantly impair the health or safety of future occupants of the Property; or that if not repaired, removed or 235

14

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replaced would significantly shorten or adversely affect the expected normal life of the premises. 236

■ FIRM: “Firm” means a licensed sole proprietor broker or a licensed broker business entity. 237

■ FIXTURES: A "Fixture" is an item of property which is physically attached to or so closely associated with land or 238

buildings so as to be treated as part of the real estate, including, without limitation, physically attached items not easily 239

removable without damage to the premises, items specifically adapted to the premises, and items customarily treated as 240

fixtures, including, but not limited to, all: garden bulbs; plants; shrubs and trees; screen and storm doors and windows; 241

electric lighting fixtures; window shades; curtain and traverse rods; blinds and shutters; central heating and cooling units 242

and attached equipment; water heaters, water softeners and treatment systems; sump pumps; attached or fitted floor 243

coverings; awnings; attached antennas and satellite dishes; audio/visual wall mounting brackets (but not the audio/visual 244

equipment); garage door openers and remote controls; installed security systems; central vacuum systems and 245

accessories; in-ground sprinkler systems and component parts; built-in appliances; ceiling fans; fences; in-ground pet 246

containment systems (but not the collars); storage buildings on permanent foundations and docks/piers on permanent 247

foundations; perennial crops; perennial plants; in-ground and aboveground crop irrigation systems; ventilating fans; barn 248

cleaners; silo unloaders; augers; feeding equipment; bulk tanks and refrigeration systems; pipeline milking systems; 249

vacuum lines; vacuum pumps and attached motors; and aboveground and underground fuel tanks. 250

CAUTION: Exclude any Fixtures to be retained by Seller or which are rented (e.g., water softener or other water 251

treatment systems, home entertainment and satellite dish components, L.P. tanks, etc.) on lines 12-16 and in the 252

offer to purchase. Address annual and perennial crops, livestock, rented fixtures not owned by Seller, fixtures 253

owned by Seller but which will not be included in the list price (e.g., irrigation systems) and equipment which 254

may be personal property but will be included in the list price. Annual crops are not part of the purchase price 255

unless otherwise agreed. 256

■ MATERIAL ADVERSE FACT: A "Material Adverse Fact" means an Adverse Fact that a party indicates is of such 257

significance, or that is generally recognized by a competent licensee as being of such significance to a reasonable party, 258

that it affects or would affect the party's decision to enter into a contract or agreement concerning a transaction or affects 259

or would affect the party's decision about the terms of such a contract or agreement. 260

■ PERSON ACTING ON BEHALF OF BUYER: "Person Acting on Behalf of Buyer" shall mean any person joined in interest 261

with buyer, or otherwise acting on behalf of buyer, including but not limited to buyer's immediate family, agents, employees, 262

directors, managers, members, officers, owners, partners, incorporators and organizers, as well as any and all corporations, 263

partnerships, limited liability companies, trusts or other entities created or controlled by, affiliated with or owned by buyer, in 264

whole or in part whether created before or after expiration of this Listing. 265

■ PROPERTY: Unless otherwise stated, “Property” means the real estate described at lines 2-6. 266

■ PROTECTED BUYER: Means a buyer who personally, or through any Person Acting on Behalf of Buyer, during the term 267

of this Listing: 268

1) Delivers to Seller or the Firm or its agents a written offer to purchase, exchange or option on the Property; 269

2) Views the Property with Seller or negotiates directly with Seller by communicating with Seller regarding any potential 270

terms upon which the buyer might acquire an interest in the Property; or 271

3) Attends an individual showing of the Property or communicates with agents of the Firm or cooperating firms regarding 272

any potential terms upon which the buyer might acquire an interest in the Property, but only if the Firm or its agents 273

deliver the buyer’s name to Seller, in writing, no later than three days after the earlier of expiration or termination (lines 274

113-119) of the Listing. The requirement in 3), to deliver the buyer’s name to Seller in writing, may be fulfilled as 275

follows: 276

a) If the Listing is effective only as to certain individuals who are identified in the Listing, by the identification of the 277

individuals in the Listing; or, 278

b) If a buyer has requested that the buyer’s identity remain confidential, by delivery of a written notice identifying the 279

firm or agents with whom the buyer negotiated and the date(s) of any individual showings or other negotiations. 280

A Protected Buyer also includes any Person Acting on Behalf of Buyer joined in interest with or otherwise acting on behalf 281

of a Protected Buyer, who acquires an interest in the Property during the extension of listing period as noted on lines 108-282

112. 283

NON-DISCRIMINATION Seller and the Firm and its agents agree that they will not discriminate against any 284

prospective buyer on account of race, color, sex, sexual orientation as defined in Wisconsin Statutes, Section 285 111.32 (13m), disability, religion, national origin, marital status, lawful source of income, age, ancestry, family 286 status, status as a victim of domestic abuse, sexual assault, or stalking, or in any other unlawful manner. 287

EARNEST MONEY If the Firm holds trust funds in connection with the transaction, they shall be retained by the Firm in 288

the Firm’s trust account. The Firm may refuse to hold earnest money or other trust funds. Should the Firm hold the 289

earnest money, the Firm shall hold and disburse the earnest money funds in accordance with Wis. Stat. Ch. 452 and Wis. 290

Admin. Code Ch. REEB 18. If the transaction fails to close and the Seller requests and receives the earnest money as the 291

total liquidated damages, then upon disbursement to Seller, the earnest money shall be paid first to reimburse the Firm for 292

cash advances made by the Firm on behalf of Seller and one half of the balance, but not in excess of the agreed 293

commission, shall be paid to the Firm as full commission in connection with said purchase transaction and the balance 294

shall belong to Seller. This payment to the Firm shall not terminate this Listing. 295

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DELIVERY OF DOCUMENTS AND WRITTEN NOTICES Unless otherwise stated in this Listing, delivery of documents 296

and written notices to a party shall be effective only when accomplished by one of the methods specified at lines 298-317. 297

(1) Personal Delivery: giving the document or written notice personally to the party, or the party's recipient for delivery if 298

named at line 300 or 301. 299

Seller's recipient for delivery (optional): _________________________________________________________________ 300

Firm’s recipient for delivery (optional): __________________________________________________________________ 301

(2) Fax: fax transmission of the document or written notice to the following telephone number: 302

Seller: (________) _______________________________ Firm: (_________) ___________________________________ 303

(3) Commercial Delivery: depositing the document or written notice fees prepaid or charged to an account with a 304

commercial delivery service, addressed either to the party, or to the party's recipient for delivery if named at line 300 or 305

301 for delivery to the party's delivery address at line 310 or 311. 306

(4) U.S. Mail: depositing the document or written notice postage prepaid in the U.S. Mail, addressed either to the 307

Party, or to the party's recipient for delivery if named at line 300 or 301 for delivery to the party's delivery address at line 308

310 or 311. 309

Delivery address for Seller: __________________________________________________________________________ 310

Delivery address for Firm: ___________________________________________________________________________ 311

(5) E-Mail: electronically transmitting the document or written notice to the party’s e-mail address, if given below at 312

line 316 or 317. If this is a consumer transaction where the property being purchased or the sale proceeds are used 313

primarily for personal, family or household purposes, each consumer providing an e-mail address below has first 314

consented electronically as required by federal law. 315

E-Mail address for Seller: ___________________________________________________________________________ 316

E-Mail address for Firm: ____________________________________________________________________________ 317

ADDITIONAL PROVISIONS ________________________________________________________________________ 318

_________________________________________________________________________________________________ 319 _________________________________________________________________________________________________ 320

ADDENDA The attached addenda ___________________________________________is/are made part of this Listing. 321

NOTICE ABOUT SEX OFFENDER REGISTRY You may obtain information about the sex offender registry and persons 322

registered with the registry by contacting the Wisconsin Department of Corrections on the Internet at 323 http://www.doc.wi.gov or by telephone at (608)240-5830. 324

TERM OF THE CONTRACT From the _________________ day of _____________________________, ___________, 325

up to the earlier of midnight of the ________________ day of ____________________________, ___________, or the 326 conveyance of the entire Property. 327 BY SIGNING BELOW, SELLER ACKNOWLEDGES RECEIPT OF A COPY OF THIS LISTING CONTRACT AND THAT 328 HE/SHE HAS READ ALL 6 PAGES AS WELL AS ANY ADDENDA AND ANY OTHER DOCUMENTS INCORPORATED 329 INTO THE LISTING. 330 (x)____________________________________________________________________ ______________________ 331 Seller's Signature ▲ Print Name Date ▲ 332 (x)_____________________________________________________________________ ______________________ 333 Seller's Signature ▲ Print Name Date ▲ 334

(x)_____________________________________________________________________ ______________________ 335 Seller's Signature ▲ Print Name Date ▲ 336 (x)_____________________________________________________________________ ______________________ 337 Seller's Signature ▲ Print Name Date ▲ 338

______________________________________________________________________________________________ 339

Seller Entity Name (if any) Print Name ▲ 340

(x)______________________________________________________________________ _____________________ 341

Authorized Signature Date 342

Print Name & Title 343

_____________________________________________________________________________________________ 344

Firm Name ▲ 345

(x)_______________________________________________________________________ ____________________ 346

Agent’s Signature ▲ Print Name Date ▲ 347

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of 6, WB-3 Approved by the Wisconsin Real Estate Examining Board 11-1-17 (Optional Use Date) 1-1-18 (Mandatory Use Date)


■ PROPERTY DESCRIPTION: Street address is: ______________________________________________________ 2

in Section _____________ in the _______________ of _________________________, County of ________________, 3

Wisconsin. Insert additional description, if any, at lines 311-315 or attach as an addendum per lines 316-317. 4


the following items: _______________________________________________________________________________ 6

______________________________________________________________________________________________.7

■ NOT INCLUDED IN LIST PRICE: __________________________________________________________________ 8

______________________________________________________________________________________________. 9



■ LIST PRICE: ______________________________________________________ Dollars ($ _________________ ). 12

■ GOVERNMENTAL AND CONSERVATION PROGRAMS: Seller represents that all or some of the Property is 13

enrolled in the following governmental conservation, farmland, environmental, land use or use restricting programs, 14

agreements or conservation easements, (county, state or federal): ________________________________________ 15

______________________________________________________________________________________________. 16

■ USE VALUE ASSESSMENT: Seller represents that (all or some of the Property) (none of the Property) STRIKE ONE 17

has been assessed as agricultural property under use value law. 18

■ SPECIAL ASSESSMENTS: Seller represents that the Property is subject to the following special assessments: 19

______________________________________________________________________________________________.20

■ SPECIAL ZONING, LAND USE OR DEVELOPMENT RESTRICTIONS: Seller represents that the Property is subject 21

to the following special zoning, land use, development restrictions or other conditions affecting the Property: 22

______________________________________________________________________________________________. 23

■ RIGHT OF FIRST REFUSAL: There (is) (is not) STRIKE ONE a right of first refusal on part or all of the Property. 24

■ ZONING: Seller represents that the property is zoned: _________________________________________________. 25

■ UTILITY CONNECTIONS: Seller represents that the locations of the following utility connections are as follows: 26

(e.g. at the lot line, on the property, across the street, unknown, unavailable, etc.): electricity _____________________ 27

__________________; gas _____________________________; municipal sewer ____________________________; 28

municipal water ____________________________________________; telephone ___________________________; 29

cable __________________________; other __________________________________________________________ 30


Seller agrees that the Firm and its agents may market Seller’s personal property identified on lines 5-7 during the term 32

of this Listing. The marketing may include: ____________________________________________________________ 33

____________________________________________________. The Firm and its agents may advertise the following 34

special financing and incentives offered by Seller: _______________________________________________________ 35

________________________. Seller has a duty to cooperate with the marketing efforts of the Firm and its agents. See 36

lines 172-178 regarding the Firm’s role as marketing agent and Seller’s duty to notify the Firm of any potential buyer 37

known to Seller. Seller agrees that the Firm and its agents may market other properties during the term of this Listing. 38





NOTE: If Seller fails to timely deliver this list to the Firm, Seller may be liable to the Firm for damages and costs. 43

The following other buyers ____________________________________________________________________________ 44

______________________________________________are excluded from this Listing until ________________________ 45



COMPENSATION TO OTHERS The Firm offers the following commission to cooperating firms: ______________________ 48

____________________________________. (Exceptions if any):______________________________________________. 49

COMMISSION The Firm’s commission shall be _______________________________________________________ 50

_________________________________________________________________________________________________. 51






WB-3 VACANT LAND LISTING CONTRACT - EXCLUSIVE RIGHT TO SELL

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the list price and on substantially the same terms set forth in this Listing and the current WB-13 Vacant Land Offer 58

to Purchase, even if Seller does not accept the buyer's offer. A buyer is ready, willing and able when the buyer 59

submitting the written offer has the ability to complete the buyer’s obligations under the written offer. 60 The Firm’s commission shall be earned if, during the term of the Listing, one owner of the Property sells, conveys, 61 exchanges or options, as described above, an interest in all or any part of the Property to another owner, except by 62 divorce judgment. 63 ■ DUE AND PAYABLE: Once earned, the Firm’s commission is due and payable in full at the earlier of closing or the date 64 set for closing, even if the transaction does not close, unless otherwise agreed in writing. 65








NOTE: If a commission is earned for a portion of the Property it does not terminate the Listing as to any remaining 73

Property. 74


qualify a buyer’s financial capability. If Seller wishes to confirm a buyer’s financial capability, Seller may negotiate inclusion of 76

a contingency for financing, proof of funds, qualification from a lender, sale of buyer’s property, or other confirmation in any 77

offer to purchase or contract. 78

LIEN NOTICE The Firm has the authority under section 779.32 of the Wisconsin Statutes to file a lien for commissions 79

or compensation earned but not paid when due against the commercial real estate, or the interest in the commercial 80

real estate, if any, that is the subject of this Listing. “Commercial real estate” includes all real estate except (a) real 81

property containing 8 or fewer dwelling units, (b) real property that is zoned for residential purposes and that does not 82

contain any buildings or structures, and (c) real property that is zoned for agricultural purposes. 83













(g) The duty, when negotiating, to present contract proposals in an objective and unbiased manner and disclose the 96

advantages and disadvantages of the proposals. 97

BECAUSE YOU HAVE ENTERED INTO AN AGENCY AGREEMENT WITH A FIRM, YOU ARE THE FIRM'S CLIENT. A FIRM OWES ADDITIONAL DUTIES TO YOU AS A CLIENT OF THE FIRM:



(b) The firm or one of its agents must provide you with all material facts affecting the transaction, not just Adverse 100

Facts. 101

(c) The firm and its agents will fulfill the firm’s obligations under the agency agreement and fulfill your lawful requests 102

that are within the scope of the agency agreement. 103








■ A multiple representation relationship exists if a firm has an agency agreement with more than one client who is a 111

party in the same transaction. If you and the firm’s other clients in the transaction consent, the firm may provide services 112


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■ Designated agency means that different agents with the firm will negotiate on behalf of you and the other client or 114

clients in the transaction, and the firm’s duties to you as a client will remain the same. Each agent will provide 115

information, opinions, and advice to the client for whom the agent is negotiating, to assist the client in the negotiations. 116

Each client will be able to receive information, opinions, and advice that will assist the client, even if the information, 117

opinions, or advice gives the client advantages in the negotiations over the firm’s other clients. An agent will not reveal 118

any of your confidential information to another party unless required to do so by law. 119

■ If a designated agency relationship is not authorized by you or other clients in the transaction you may still authorize 120

or reject a different type of multiple representation relationship in which the firm may provide brokerage services to more 121

than one client in a transaction but neither the firm nor any of its agents may assist any client with information, opinions, 122

and advice which may favor the interests of one client over any other client. Under this neutral approach, the same 123

agent may represent more than one client in a transaction. 124

■ If you do not consent to a multiple representation relationship the firm will not be allowed to provide brokerage 125

services to more than one client in the transaction. 126


The same firm may represent me and the other party as long as the same agent is not representing us 128

both. (multiple representation relationship with designated agency) 129





NOTE: All clients who are parties to this agency agreement consent to the selection checked above. You may 134

modify this selection by written notice to the firm at any time. Your firm is required to disclose to you in your 135

agency agreement the commission or fees that you may owe to your firm. If you have any questions about the 136

commission or fees that you may owe based upon the type of agency relationship you select with your firm, 137

you should ask your firm before signing the agency agreement. 138

SUBAGENCY 139

Your firm may, with your authorization in the agency agreement, engage other firms (subagent firms) to assist your firm by 140

providing brokerage services for your benefit. A subagent firm and the agents associated with the subagent firm will not put 141

their own interests ahead of your interests. A subagent firm will not, unless required by law, provide advice or opinions to 142

other parties if doing so is contrary to your interests. 143

PLEASE REVIEW THIS INFORMATION CAREFULLY. An agent can answer your questions about brokerage 144

services, but if you need legal advice, tax advice, or a professional home inspection, contact an attorney, tax 145

advisor, or home inspector. 146


summary of the duties owed to you under section 452.133 (2) of the Wisconsin statutes. 148

■ CONFIDENTIALITY NOTICE TO CLIENTS: The Firm and its agents will keep confidential any information given to 149

the Firm or its agents in confidence, or any information obtained by the Firm and its agents that a reasonable person 150

would want to be kept confidential, unless the information must be disclosed by law or you authorize the Firm to 151

disclose particular information. The Firm and its agents shall continue to keep the information confidential after the Firm 152

is no longer providing brokerage services to you. 153

The following information is required to be disclosed by law: 154 1) Material Adverse Facts, as defined in section 452.01 (5g) of the Wisconsin statutes (see lines 243-246). 155 2) Any facts known by the Firm and its agents that contradict any information included in a written inspection report on 156

the property or real estate that is the subject of the transaction. 157 To ensure that the Firm and its agents are aware of what specific information you consider confidential, you may list that 158 information below (see lines 161-162). At a later time, you may also provide the Firm with other information you 159 consider to be confidential. 160 CONFIDENTIAL INFORMATION: __________________________________________________________________ 161 ______________________________________________________________________________________________. 162 NON-CONFIDENTIAL INFORMATION (The following may be disclosed by the Firm and its agents):_______________ 163 ______________________________________________________________________________________________. 164


agents will work and cooperate with other firms and agents in marketing the Property, including firms acting as 166

subagents (other firms engaged by the Firm - see lines 139-143) and firms representing buyers. Cooperation includes 167

providing access to the Property for showing purposes and presenting offers and other proposals from these firms to 168

Seller. Note any firms with whom the Firm shall not cooperate, any firms or agents or buyers who shall not be allowed to 169

attend showings, and the specific terms of offers which should not be submitted to Seller: ______________ 170

______________________________________________________________________________________________. 171

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which are required in connection with the sale. Seller authorizes the Firm to do those acts reasonably necessary to 174

effect a sale and Seller agrees to cooperate fully with these efforts which may include use of a multiple listing service, 175

Internet advertising or a lockbox system at the Property. Seller shall promptly refer all persons making inquiries 176

concerning the Property to the Firm and notify the Firm in writing of any potential buyers with whom Seller negotiates or 177

who view the Property with Seller during the term of this Listing. 178


rights under the lease(s) and transfer all security deposits and prepaid rents (subject to agreed upon prorations) thereunder 180

to buyer at closing. Seller acknowledges that Seller remains liable under the lease(s) unless released by tenant(s). 181


lease(s) unless released by tenants. 183






EXTENSION OF LISTING The Listing term is extended for a period of one year as to any Protected Buyer. Upon 189

receipt of a written request from Seller or a firm that has listed the Property, the Firm agrees to promptly deliver to Seller 190

a written list of those buyers known by the Firm and its agents to whom the extension period applies. Should this Listing 191

be terminated by Seller prior to the expiration of the term stated in this Listing, this Listing shall be extended for 192

Protected Buyers, on the same terms, for one year after the Listing is terminated (lines 194-202). 193




commission amount or shorten the term of this Listing, without the written consent of the agent(s)’ supervising broker. Seller 197

and the Firm agree that any termination of this Listing by either party before the date stated on line 319 shall be 198

effective by the Seller only if stated in writing and delivered to the Firm in accordance with lines 288-310 and effective 199

by the Firm only if stated in writing by the supervising broker and delivered to Seller in accordance with lines 288-310. 200



VACANT LAND DISCLOSURE REPORT Seller agrees to complete the vacant land disclosure report provided by the 203

Firm to the best of Seller's knowledge. Seller agrees to amend the report should Seller learn of any Defect(s) after 204

completion of the report but before acceptance of a buyer's offer to purchase. Seller authorizes the Firm and its agents to 205

distribute the report to all interested parties and agents inquiring about the Property and Seller acknowledges that the 206

Firm and its agents have a duty to disclose all Material Adverse Facts as required by law. 207


Seller has no notice or knowledge of any Defects affecting the Property other than those noted on the vacant land 209

disclosure report. 210





preparing the Property to minimize the likelihood of injury, damage and/or loss of personal property. Seller agrees to 215

hold the Firm and its agents harmless for any losses or liability resulting from personal injury, property damage, or theft 216


wrongdoing of the Firm and its agents. Seller acknowledges that individual showings and open houses may be 218

conducted by licensees other than agents of the Firm, that appraisers and inspectors may conduct appraisals and 219

inspections without being accompanied by agents of the Firm or other licensees, and that buyers or licensees may be 220

present at all inspections and testing and may photograph or videotape Property unless otherwise provided for in 221

additional provisions at lines 311-315 or in an addendum per lines 316-317. 222

DEFINITIONS 223

■ ADVERSE FACT: An "Adverse Fact" means any of the following: 224

a) A condition or occurrence that is generally recognized by a competent licensee as doing any of the following: 225

1) Significantly and adversely affecting the value of the Property; 226

2) Significantly reducing the structural integrity of improvements to real estate; or 227

3) Presenting a significant health risk to occupants of the Property. 228

20

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b) Information that indicates that a party to a transaction is not able to or does not intend to meet his or her obligations 229

under a contract or agreement made concerning the transaction. 230

■ DEADLINES – DAYS: Deadlines expressed as a number of "days" from an event are calculated by excluding the day the 231

event occurred and by counting subsequent calendar days. 232





■ FIXTURES: A "Fixture" is an item of property which is physically attached to or so closely associated with land so as 237

to be treated as part of the real estate, including, without limitation, physically attached items not easily removable 238

without damage to the premises, items specifically adapted to the premises, and items customarily treated as fixtures, 239

including, but not limited to, all: perennial crops; garden bulbs; plants; shrubs and trees; and fences; storage buildings 240

on permanent foundations and docks/piers on permanent foundations. 241

CAUTION: Annual crops are not part of the purchase price unless otherwise agreed. 242


significance, or that is generally recognized by a competent licensee as being of such significance to a reasonable 244

party, that it affects or would affect the party's decision to enter into a contract or agreement concerning a transaction or 245

affects or would affect the party's decision about the terms of such a contract or agreement. 246






■ PROPERTY: Unless otherwise stated, “Property” means all property included in the list price as described on lines 2-4. 252

■ PROTECTED BUYER: Means a buyer who personally, or through any Person Acting on Behalf of Buyer, during the term of 253

this Listing: 254

1) Delivers to Seller or the Firm or its agents a written offer to purchase, exchange or option on the Property during the term 255

of this Listing; 256






194-202) of the Listing. The requirement in 3), to deliver the buyer’s name to Seller in writing, may be fulfilled as follows: 262



b) If a buyer has requested that the buyer’s identity remain confidential, by delivery of a written notice identifying the firm 265

or agents with whom the buyer negotiated and the date(s) of any individual showings or other negotiations. 266

A Protected Buyer also includes any Person Acting on Behalf of Buyer joined in interest with or otherwise acting on 267

behalf of a Protected Buyer, who acquires an interest in the Property during the extension of listing period as noted on 268

lines 189-193. 269


prospective buyer on account of race, color, sex, sexual orientation as defined in Wisconsin Statutes, Section 271

111.32(13m), disability, religion, national origin, marital status, lawful source of income, age, ancestry, family 272

status, status as a victim of domestic abuse, sexual assault, or stalking, or in any other unlawful manner. 273

EARNEST MONEY If the Firm holds trust funds in connection with the transaction, they shall be retained by the Firm in the 274

Firm’s trust account. The Firm may refuse to hold earnest money or other trust funds. Should the Firm hold the earnest money, 275

the Firm shall hold and disburse the earnest money funds in accordance with Wis. Stat. Ch. 452 and Wis. Admin. Code Ch. 276

REEB 18. If the transaction fails to close and the Seller requests and receives the earnest money as the total liquidated 277

damages, then upon disbursement to Seller, the earnest money shall be paid first to reimburse the Firm for cash advances 278

made by the Firm on behalf of Seller and one half of the balance, but not in excess of the agreed commission, shall be paid to 279

the Firm as full commission in connection with said purchase transaction and the balance shall belong to Seller. This payment 280

to the Firm shall not terminate this Listing. 281

OCCUPANCY Unless otherwise provided, Seller agrees to give buyer occupancy of the Property at time of closing. 282

Unless otherwise agreed, Seller agrees to have the Property free of all debris and personal property except for personal 283

property belonging to current tenants, sold to the buyer or left with the buyer’s consent. 284

NOTICE ABOUT SEX OFFENDER REGISTRY You may obtain information about the sex offender registry and 285

persons registered with the registry by contacting the Wisconsin Department of Corrections on the Internet at 286

http://www.doc.wi.gov or by telephone at (608)240-5830. 287

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DELIVERY OF DOCUMENTS AND WRITTEN NOTICES Unless otherwise stated in this Listing, delivery of 288

documents and written notices to a party shall be effective only when accomplished by one of the methods specified at 289

lines 291-310. 290



Seller's recipient for delivery (optional): ______________________________________________________________ 293

Firm’s recipient for delivery (optional): _______________________________________________________________ 294


Seller: (________) ______________________________ Firm: (_________) _________________________________ 296



294, for delivery to the party's delivery address at line 303 or 304. 299


party, or to the party's recipient for delivery if named at line 293 or 294for delivery to the party's delivery address at line 301

303 or 304. 302

Delivery address for Seller: _______________________________________________________________________ 303

Delivery address for Firm: ________________________________________________________________________ 304





E-Mail address for Seller: _________________________________________________________________________ 309

E-Mail address for Firm: _________________________________________________________________________ 310

ADDITIONAL PROVISIONS _______________________________________________________________________ 311

_______________________________________________________________________________________________312

_______________________________________________________________________________________________ 313

_______________________________________________________________________________________________ 314

_______________________________________________________________________________________________ 315

ADDENDA The attached addenda __________________________________________________________________ 316

______________________________________________________________________ is/are made part of this Listing. 317

TERM OF THE CONTRACT From the _________________ day of ___________________________, _________, up 318

to the earlier of midnight of the ______________ day of _________________________, ________, or the conveyance 319

of the entire Property. 320

BY SIGNING BELOW, SELLER ACKNOWLEDGES RECEIPT OF A COPY OF THIS LISTING CONTRACT AND 321

THAT HE/SHE HAS READ ALL 6 PAGES AS WELL AS ANY ADDENDA AND ANY OTHER DOCUMENTS 322

INCORPORATED INTO THE LISTING. 323

(x)____________________________________________________________________ ______________________ 324 Seller's Signature ▲ Print Name Date ▲ 325 (x)_____________________________________________________________________ ______________________ 326 Seller's Signature ▲ Print Name Date ▲ 327

(x)_____________________________________________________________________ ______________________ 328 Seller's Signature ▲ Print Name Date ▲ 329 (x)_____________________________________________________________________ ______________________ 330 Seller's Signature ▲ Print Name Date ▲ 331

______________________________________________________________________________________________ 332


(x)______________________________________________________________________ _____________________ 334



_____________________________________________________________________________________________ 337

Firm Name ▲ 338

(x)_______________________________________________________________________ ____________________ 339


22

Approved by the Wisconsin Real Estate Examining Board Page 1 of 7, WB-4 11-1-17 (Optional Use Date) 1-1-18 (Mandatory Use Date)


■ PROPERTY DESCRIPTION: Street address of the Unit is: ___________________________________________ 2

___________________________________ in the _________________ of _________________________, County of 3

___________________________, Wisconsin, particularly described as Unit: __________ (Building ____________) of 4

__________________________________________________ Condominium; Seller's interest in the common elements 5

appurtenant to the Unit, together with and subject to the rights, interests, obligations and limitations as set forth in the 6

declaration and condominium plat (and all amendments to them) creating the Condominium, which altogether constitute 7

the Property. Insert additional description, if any, at lines 371-376 or attach as an addendum per lines 377-378. 8

■ INCLUDED IN LIST PRICE: Seller is including in the list price the Property, Seller’s interests in any common surplus 9

and reserves of the Condominium allocated to the Property, Fixtures not excluded on lines 13-15, and the following 10

items: __________________________________________________________________________________________ 11

______________________________________________________________________________________________. 12


_______________________________________________________________________________________________ 14

______________________________________________________________________________________________. 15



■ LIST PRICE: _____________________________________________________ Dollars ($ ____________________). 18

■ LIMITED COMMON ELEMENTS: The limited common elements assigned to the Unit include: _________________ 19

_______________________________________________________. See condominium declaration for complete list. 20

■ STORAGE: A storage unit (is) (is not) STRIKE ONE included in the List Price; storage unit number: ______________. 21

■ PARKING: The parking is_________________________________________________________________________ 22

_________________________________________________________________. The parking fee is $_____________. 23

■ ASSOCIATION FEE: The association fee for the Property is $________________ per ________________________. 24

■ RIGHT OF FIRST REFUSAL: The condominium association (does) (does not) STRIKE ONE have a right of first refusal 25

on the Property. 26


Seller agrees that the Firm and its agents may market Seller’s personal property identified on lines 11-12 during the 28

term of this Listing. The marketing may include: _________________________________________________________ 29

______________________________________________________________________________________________. 30

The Firm and its agents may advertise the following special financing and incentives offered by Seller: 31

______________________________________________________________________________________________. 32

Seller has a duty to cooperate with the marketing efforts of the Firm and its agents. See lines 194-214 regarding the 33

Firm’s role as marketing agent and Seller’s duty to notify the Firm of any potential buyer known to Seller. Seller agrees 34

that the Firm and its agents may market other properties during the term of this Listing. 35


___________________________________. (Exceptions if any):________________________________________________. 37

COMMISSION The Firm’s commission shall be ________________________________________________________ 38

______________________________________________________________________________________________. 39


1) Seller sells or accepts an offer which creates an enforceable contract for the sale of all or any part of the Property; 41 2) Seller grants an option to purchase all or any part of the Property which is subsequently exercised; 42 3) Seller exchanges or enters into a binding exchange agreement on all or any part of the Property; 43 4) A transaction occurs which causes an effective change in ownership or control of all or any part of the Property; or 44 5) A ready, willing and able buyer submits a bona fide written offer to Seller or the Firm for the Property, at, or above, 45

the list price and on substantially the same terms set forth in this Listing and the current WB-14 Residential 46 Condominium Offer to Purchase, even if Seller does not accept the buyer's offer. A buyer is ready, willing and able 47 when the buyer submitting the written offer has the ability to complete the buyer’s obligations under the written offer. 48

The Firm’s commission shall be earned if, during the term of the Listing, one seller of the Property sells, conveys, 49 exchanges or options, as described above, an interest in all or any part of the Property to another owner, except by 50 divorce judgment. 51 ■ DUE AND PAYABLE: Once earned, the Firm’s commission is due and payable in full at the earlier of closing or the date 52 set for closing, even if the transaction does not close, unless otherwise agreed in writing. 53 ■ CALCULATION: A percentage commission shall be calculated based on the following, if earned above: 54



WB-4 RESIDENTIAL CONDOMINIUM LISTING CONTRACT - EXCLUSIVE RIGHT TO SELL

23

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Under 5) the total offered purchase price. 60 NOTE: If a commission is earned for a portion of the Property it does not terminate the Listing as to any 61 remaining Property. 62
























BECAUSE YOU HAVE ENTERED INTO AN AGENCY AGREEMENT WITH A FIRM, YOU ARE THE FIRM'S CLIENT. A FIRM OWES ADDITIONAL DUTIES TO YOU AS A CLIENT OF THE FIRM:



(b) The firm or one of its agents must provide you with all material facts affecting the transaction, not just Adverse 88

Facts. 89

(c) The firm and its agents will fulfill the firm’s obligations under the agency agreement and fulfill your lawful requests 90

that are within the scope of the agency agreement. 91

















■ If a designated agency relationship is not authorized by you or other clients in the transaction you may still authorize 108







24

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The same firm may represent me and the other party as long as the same agent is not representing us 116

both. (multiple representation relationship with designated agency) 117










SUBAGENCY 127


providing brokerage services for your benefit. A subagent firm and the agents associated with the subagent firm will not put 129

their own interests ahead of your interests. A subagent firm will not, unless required by law, provide advice or opinions to 130

other parties if doing so is contrary to your interests. 131





summary of the duties owed to you under section 452.133 (2) of the Wisconsin statutes. 136

■ CONFIDENTIALITY NOTICE TO CLIENTS: The Firm and its agents will keep confidential any information given to 137 the Firm or its agents in confidence, or any information obtained by the Firm and its agents that a reasonable person 138 would want to be kept confidential, unless the information must be disclosed by law or you authorize the Firm to 139 disclose particular information. The Firm and its agents shall continue to keep the information confidential after the Firm 140 is no longer providing brokerage services to you. 141 The following information is required to be disclosed by law: 142 1) Material Adverse Facts, as defined in section 452.01 (5g) of the Wisconsin statutes (see lines 312-315). 143 2) Any facts known by the Firm and its agents that contradict any information included in a written inspection report on 144

the property or real estate that is the subject of the transaction. 145 To ensure that the Firm and its agents are aware of what specific information you consider confidential, you may list that 146 information below (see lines 149-152). At a later time, you may also provide the Firm with other information you 147 consider to be confidential. 148 CONFIDENTIAL INFORMATION: ___________________________________________________________________ 149 _______________________________________________________________________________________________150 _______________________________________________________________________________________________151 ______________________________________________________________________________________________. 152 NON-CONFIDENTIAL INFORMATION (The following may be disclosed by the Firm and its agents): _______________ 153 ______________________________________________________________________________________________ 154 ______________________________________________________________________________________________. 155


agents will work and cooperate with other firms and agents in marketing the Property, including firms acting as 157

subagents (other firms engaged by the Firm - see lines 127-131) and firms representing buyers. Cooperation includes 158

providing access to the Property for showing purposes and presenting offers and other proposals from these firms to 159

Seller. Note any firms with whom the Firm shall not cooperate, any firms or agents or buyers who shall not be allowed to 160

attend showings, and the specific terms of offers which should not be submitted to Seller: _______________________ 161

______________________________________________________________________________________________. 162




Within seven days of the date of this Listing, Seller agrees to deliver to the Firm a written list of all such Protected 166

Buyers. 167

NOTE: If Seller fails to timely deliver this list to the Firm, Seller may be liable to the Firm for damages and costs. 168 The following other buyers _________________________________________________________________________ 169 ___________________________________________ are excluded from this Listing until ________________________ 170 [INSERT DATE]. These other buyers are no longer excluded from this Listing after the specified date unless, on or 171

before the specified date, Seller has either accepted a written offer from the buyer or sold the Property to the buyer. 172

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TERMINATION OF LISTING Neither Seller nor the Firm has the legal right to unilaterally terminate this Listing absent 178

a material breach of contract by the other party. Seller understands that the parties to the Listing are Seller and the 179

Firm. Agents for the Firm do not have the authority to enter into a mutual agreement to terminate the Listing, amend the 180

commission amount or shorten the term of this Listing, without the written consent of the agent(s)’ supervising broker. 181

Seller and the Firm agree that any termination of this Listing by either party before the date stated on line 380 shall be 182





FAIR HOUSING Seller and the Firm and its agents agree that they will not discriminate against any prospective 187

buyer on account of race, color, sex, sexual orientation as defined in Wisconsin Statutes, Section 111.32(13m), 188

disability, religion, national origin, marital status, lawful source of income, age, ancestry, family status, status 189

as a victim of domestic abuse, sexual assault, or stalking, or in any other unlawful manner. 190

OCCUPANCY Unless otherwise provided, Seller agrees to give buyer occupancy of the Unit and any limited common 191

elements at time of closing and to have the Unit in broom swept condition and free of all debris and personal property 192

except for personal property belonging to current tenants, sold to the buyer or left with the buyer's consent. 193



which are required in connection with the sale, including, but not limited to, copies of the condominium association's 196

condominium disclosure materials as described in lines 215-252. In addition, the Buyer may also request the following: 197

1) the condominium association’s financial statements for the last two years, 198

2) the minutes of the last 3 unit owner's meetings, 199

3) the minutes of condominium board meetings during the 12 months prior to acceptance, 200

4) information about contemplated or pending condominium special assessments, 201

5) the association's certificate of insurance, 202

6) a statement from the association indicating the balance of reserve accounts controlled by the association, 203

7) a statement from the association of the amount of any unpaid assessments on the unit (per Wis. Stat. § 703.165), 204

8) any common element inspection reports (e.g. roof, swimming pool, elevator and parking garage inspections, etc.), 205

9) any pending litigation involving the association, 206

10) the declaration, bylaws, budget and/or most recent financial statement of any master association, or additional 207

association the unit may be part of, and 208

11) other documents related to the condominium. 209

Seller authorizes the Firm to do those acts reasonably necessary to effect a sale and Seller agrees to cooperate fully 210

with these efforts which may include use of a multiple listing service, Internet advertising or a lockbox system at the 211

Property. Seller shall promptly refer all persons making inquiries concerning the Property to the Firm and notify the Firm 212

in writing of any potential buyers with whom Seller negotiates or who view the Property with Seller during the term of 213

this Listing. 214

CONDOMINIUM DISCLOSURE MATERIALS Seller agrees to provide buyers with complete, current and accurate 215

copies of the condominium disclosure materials required by Wis. Stat. § 703.33. Seller is required to provide buyers with 216

the condominium disclosure materials within 10 days of acceptance of the offer, but no later than 15 days prior to 217

closing. Seller is responsible, at Seller's expense (see Wis. Stat. § 703.20(2)), to obtain all required condominium 218

disclosure materials (see lines 224-252 below) and condominium documents which may be requested by a buyer in the 219

terms of an offer (see lines 198-209 above) and to obtain and promptly provide the buyer with any amendments or 220

updates to the condominium disclosure materials arising before closing. 221

The condominium disclosure materials required by statute include a copy of the following and any amendments to any 222

of these (except as limited for small condominiums per Wis. Stat. § 703.365): 223

a) proposed or existing declaration, bylaws and any rules or regulations, and an index of the contents, 224

b) proposed or existing articles of incorporation of the association, if it is or is to be incorporated, 225

c) proposed or existing management contract, employment contract or other contract affecting the use, maintenance 226

or access of all or part of the condominium, 227

d) projected annual operating budget for the condominium including reasonable details concerning the estimated 228

monthly payments by the purchaser for assessments and other monthly charges, 229

e) leases to which unit owners or the association will be a party, 230

f) general description of any contemplated expansion of condominium including each stage of expansion and the 231

maximum number of units that can be added to the condominium, 232

g) unit floor plan showing location of common elements and other facilities available to unit owners, 233

h) the executive summary. 234

26

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If the condominium was an occupied structure prior to the recording of the condominium declaration, it is a "conversion 235

condominium," and the "condominium disclosure materials" for a conversion condominium with five or more units also 236

include: 237

1) a declarant’s statement based on an independent engineer's or architect's report describing the present condition of 238

structural, mechanical and electrical installations; 239

2) a statement of the useful life of the items covered in 1), unless a statement that no representations are being made 240

is provided, and 241

3) a list of notices of uncured code or other municipal violations, including an estimate of the costs of curing the 242

violations. 243

A buyer may, at any time within 5 business days following receipt of all of the condominium disclosure materials 244

required by statute, rescind an offer by delivering written notice without stating any reason and without any liability on 245

his or her part. If condominium disclosure materials provided to a buyer are incomplete, the buyer may, within 5 246

business days of the buyer's receipt of the incomplete materials, either rescind the offer or request any missing 247

documents. Seller has 5 business days following receipt of a buyer's request for missing documents to deliver the 248

requested documents. A buyer may rescind the sale within 5 business days of the earlier of the buyer's receipt of 249

requested missing documents or the deadline for Seller's delivery of the documents [Wis. Stat. § 703.33(4)(b)]. A buyer 250

also has a 5-business day right to rescind after delivery of an amendment to any of the disclosure materials required 251

by statute if the amendment materially affects the rights of the buyer. [Wis. Stat. § 703.33(3m) & (4)(a)]. 252






REAL ESTATE CONDITION REPORT Seller agrees to complete the real estate condition report provided by the Firm 258

to the best of Seller's knowledge. Seller agrees to amend the report should Seller learn of any Defect(s) after 259

completion of the report but before acceptance of a buyer's offer to purchase. Seller authorizes the Firm and its agents 260

to distribute the report to all interested parties and agents inquiring about the Property. Seller acknowledges that the 261

Firm and its agents have a duty to disclose all Material Adverse Facts as required by law. Wis. Stat. § 709.03 provides 262

that when the Property is a condominium unit, the property to which the real estate condition report applies is the 263

condominium unit, the common elements of the condominium and any limited common elements that may be used only 264

by the owner of the condominium unit being transferred. Wis. Stat. § 709.02(2) requires that Seller also furnish a 265

condominium addendum to the Real Estate Condition Report and a copy of the executive summary along with the Real 266

Estate Condition Report. Note: Small condominiums may not all be required to have an executive summary per Wis. 267

Stat. § 703.365 (1) (b) and (8). 268


Seller has no notice or knowledge of any Defects affecting the Property other than those noted on the real estate condition 270

report. 271








wrongdoing of the Firm and its agents. Seller acknowledges that individual showings and open houses may be 279

conducted by licensees other than agents of the Firm, that appraisers and inspectors may conduct appraisals and 280

inspections without being accompanied by agents of the Firm or other licensees, and that buyers or licensees may be 281

present at all inspections and testing and may photograph or videotape Property unless otherwise provided for in 282

additional provisions at lines 371-376 or in an addendum per lines 377-378. 283

DEFINITIONS 284


(a) A condition or occurrence that is generally recognized by a competent licensee as doing any of the following: 286




(b) Information that indicates that a party to a transaction is not able to or does not intend to meet his or her obligations 290


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■ DEADLINES – DAYS: Deadlines expressed as a number of "days" from an event are calculated by excluding the day the 292 event occurred and by counting subsequent calendar days. 293







removable without damage to the premises, items specifically adapted to the premises, and items customarily treated 300

as fixtures, including, but not limited to, all: garden bulbs; plants; shrubs and trees; screen and storm doors and 301

windows; electric lighting fixtures; window shades; curtain and traverse rods; blinds and shutters; central heating and 302

cooling units and attached equipment; water heaters, water softeners and treatment systems; sump pumps; attached or 303

fitted floor coverings; awnings; attached antennas and satellite dishes, audio/visual wall mounting brackets (but not the 304

audio/visual equipment), garage door openers and remote controls; installed security systems; central vacuum systems 305

and accessories; in-ground sprinkler systems and component parts; built-in appliances; ceiling fans; fences in-ground 306

pet containment systems (but not the collars); storage buildings on permanent foundations and docks/piers on 307

permanent foundations. 308

CAUTION: Exclude any Fixtures to be retained by Seller or which are rented (e.g., water softener or other water 309

treatment systems, home entertainment and satellite dish components, L.P. tanks, etc.) on lines 13-15 and in 310

the offer to purchase. 311 ■ MATERIAL ADVERSE FACT: A "Material Adverse Fact" means an Adverse Fact that a party indicates is of such 312 significance, or that is generally recognized by a competent licensee as being of such significance to a reasonable 313 party, that it affects or would affect the party's decision to enter into a contract or agreement concerning a transaction or 314 affects or would affect the party's decision about the terms of such a contract or agreement. 315






■ PROPERTY: Unless otherwise stated, “Property“ means all property included in the list price as described on lines 2-8. 321 ■ PROTECTED BUYER: Means a buyer who personally, or through any Person Acting on Behalf of Buyer, during the term of 322 this Listing: 323

1) Delivers to Seller or the Firm or its agents a written offer to purchase, exchange or option on the Property; 324 2) Views the Property with Seller or negotiates directly with Seller by communicating with Seller regarding any potential 325

terms upon which the buyer might acquire an interest in the Property; or 326 3) Attends an individual showing of the Property or communicates with agents of the Firm or cooperating firms regarding 327

any potential terms upon which the buyer might acquire an interest in the Property, but only if the Firm or its agents 328 deliver the buyer’s name to Seller, in writing, no later than three days after the earlier of expiration or termination (lines 329 178-186) of the Listing. The requirement in 3), to deliver the buyer’s name to Seller in writing, may be fulfilled as follows: 330 a) If the Listing is effective only as to certain individuals who are identified in the Listing, by the identification of the 331

individuals in the Listing; or, 332 b) If a buyer has requested that the buyer’s identity remain confidential, by delivery of a written notice identifying the firm 333

or agents with whom the buyer negotiated and the date(s) of any individual showings or other negotiations. 334

A Protected Buyer also includes any Person Acting on Behalf of Buyer joined in interest with or otherwise acting on behalf of 335

a Protected Buyer, who acquires an interest in the Property during the extension of listing period as noted on lines 173-177. 336


Firm’s trust account. The Firm may refuse to hold earnest money or other trust funds. Should the Firm hold the earnest money, 338 the Firm shall hold and disburse earnest money funds in accordance with Wis. Stat. Ch. 452 and Wis. Admin. Code Ch. REEB 339 18. If the transaction fails to close and the Seller requests and receives the earnest money as the total liquidated damages, 340 then upon disbursement to Seller, the earnest money shall be paid first to reimburse the Firm for cash advances made by the 341 Firm on behalf of Seller and one half of the balance, but not in excess of the agreed commission, shall be paid to the Firm as 342 full commission in connection with said purchase transaction and the balance shall belong to Seller. This payment to the Firm 343 shall not terminate this Listing. 344


persons registered with the registry by contacting the Wisconsin Department of Corrections on the Internet at 346 http://www.doc.wi.gov or by telephone at (608)240-5830. 347

28


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lines 351-370. 350






Seller: (________) ______________________________ Firm: (_________) _________________________________ 356





party, or to the party's recipient for delivery if named at line 353 or 354 for delivery to the party's delivery address at line 361

363 or 364. 362








E-Mail address for Firm: __________________________________________________________________________ 370

ADDITIONAL PROVISIONS _____________________________________________________________________ 371

_______________________________________________________________________________________________372 _______________________________________________________________________________________________ 373 _______________________________________________________________________________________________ 374 _______________________________________________________________________________________________ 375 ______________________________________________________________________________________________. 376

ADDENDA The attached addenda _________________________________________________________________ 377

_____________________________________________________________________ is/are made part of this Listing. 378

TERM OF THE CONTRACT From the _________________ day of ___________________________, _________, up 379

to the earlier of midnight of the _________________ day of ______________________, ________, or the conveyance 380 of the entire Property. 381 BY SIGNING BELOW, SELLER ACKNOWLEDGES RECEIPT OF A COPY OF THIS LISTING CONTRACT AND 382 THAT HE/SHE HAS READ ALL 7 PAGES AS WELL AS ANY ADDENDA AND ANY OTHER DOCUMENTS 383 INCORPORATED INTO THE LISTING. 384 (x)____________________________________________________________________ ______________________ 385 Seller's Signature ▲ Print Name Date ▲ 386 (x)_____________________________________________________________________ ______________________ 387 Seller's Signature ▲ Print Name Date ▲ 388

(x)_____________________________________________________________________ ______________________ 389 Seller's Signature ▲ Print Name Date ▲ 390

(x)_____________________________________________________________________ ______________________ 391 Seller's Signature ▲ Print Name Date ▲ 392

______________________________________________________________________________________________ 393


(x)______________________________________________________________________ _____________________ 395



_____________________________________________________________________________________________ 398

Firm Name ▲ 399

(x)_______________________________________________________________________ ____________________ 400


29



■ PROPERTY DESCRIPTION: Street address is: ____________________________________________________ 2

__________________________ in the ___________ of ______________________, County of ________________, 3

Wisconsin. Insert additional description, if any, at lines 318-329 or attach as an addendum per lines 330-335. 4


the following items: _______________________________________________________________________________ 6

_______________________________________________________________________________________________7

______________________________________________________________________________________________. 8


_______________________________________________________________________________________________10

_______________________________________________________________________________________________11

______________________________________________________________________________________________. 12



■ Seller shall convey the personal property by Bill of Sale, free and clear of all liens and encumbrances except: ______ 15

_______________________________________________________________________________________________16

______________________________________________________________________________________________. 17

■ LIST PRICE: ________________________________________________ Dollars ($ ________________________). 18

■ SELLER AUTHORITY: Seller represents that Seller has authority to sign this Listing and negotiate the sale of the 19

Property. If Seller is an entity, Seller agrees, within 15 days of the execution of this Listing, to provide the Firm with a 20

copy of document(s) confirming the authority to negotiate the sale of the Property. 21

■ ZONING: Seller represents that the Property is zoned: ________________________________________________. 22

■ ZONING VARIANCES, NONCONFORMING USE OR DEVELOPMENT RESTRICTIONS: Seller represents that the 23

Property is subject to the following special zoning, land use, development restrictions, zoning variances, nonconforming 24

uses or other conditions affecting the Property: ________________________________________________________ 25

______________________________________________________________________________________________. 26


Seller agrees that the Firm and its agents may market Seller’s personal property identified on lines 5-8 during the term 28

of this Listing. The marketing may include: _____________________________________________________________ 29

______________________________________________________________________________________________. 30

The Firm and its agents may advertise the following special financing and incentives offered by Seller: ______________ 31

_________________________________________________________________________________________. Seller 32

has a duty to cooperate with the marketing efforts of the Firm and its agents. See lines 229-235 regarding the Firm’s 33

role as marketing agent and Seller’s duty to notify the Firm of any potential buyer known to Seller. Seller agrees that the 34

Firm and its agents may market other properties during the term of this Listing. 35



___________________________________. (Exceptions if any): ________________________________________________ 38

COMMISSION The Firm’s commission shall be __________________________________________________________ 39

__________________________________________________________________________________________________40

__________________________________________________________________________________________________41

_________________________________________________________________________________________________. 42







the list price and on substantially the same terms set forth in this Listing and the current WB-15 Commercial Offer to 49

Purchase, even if Seller does not accept this buyer's offer. A buyer is ready, willing and able when the buyer 50

submitting the written offer has the ability to complete the buyer’s obligations under the written offer. 51

The Firm’s commission shall be earned if, during the term of the Listing, one owner of the Property sells, conveys, 52

exchanges or options, as described above, an interest in all or any part of the Property to another owner, except by divorce 53

judgment. 54

WB-5 COMMERCIAL LISTING CONTRACT - EXCLUSIVE RIGHT TO SELL

30

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■ DUE AND PAYABLE: Once earned, the Firm’s commission is due and payable in full at the earlier of closing or the date 55

set for closing, even if the transaction does not close, unless otherwise agreed in writing. 56








NOTE: If a commission is earned for a portion of the Property it does not terminate the Listing as to any remaining 64

Property. 65





LIEN NOTICE The Firm has the authority under section 779.32 of the Wisconsin Statutes to file a lien for commissions 70

or compensation earned but not paid when due against the commercial real estate, or the interest in the commercial 71

real estate, if any, that is the subject of this Listing. “Commercial real estate” includes all real estate except (a) real 72

property containing 8 or fewer dwelling units, (b) real property that is zoned for residential purposes and that does not 73

contain any buildings or structures, and (c) real property that is zoned for agricultural purposes. 74












(f) The duty to safeguard trust funds and other property the firm and its agents holds. 86



BECAUSE YOU HAVE ENTERED INTO AN AGENCY AGREEMENT WITH A FIRM, YOU ARE THE FIRM’S CLIENT. A FIRM OWES ADDITIONAL DUTIES TO YOU AS A CLIENT OF THE FIRM:




(c)The firm and its agents will fulfill the firm’s obligations under the agency agreement and fulfill your lawful requests that 92

are within the scope of the agency agreement. 93


(e)The firm and its agents will not place their interests ahead of your interests. The firm and its agents will not, unless 95

required by law, give information or advice to other parties who are not the firm’s clients, if giving the information or advice is 96

contrary to your interests. 97













■ If a designated agency relationship is not authorized by you or other clients in the transaction, you may still authorize 110

31

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The same firm may represent me and the other party as long as the same agent is not 118

representing us both. (multiple representation relationship with designated agency) 119

The same firm may represent me and the other party, but the firm must remain neutral 120

regardless if one or more different agents are involved. (multiple representation relationship 121

without designated agency) 122

The same firm cannot represent both me and the other party in the same transaction. (I reject 123

multiple representation relationships) 124






SUBAGENCY 130


providing brokerage services for your benefit. A subagent firm and the agents with the subagent firm will not put their own 132

interests ahead of your interests. A subagent firm will not, unless required by law, provide advice or opinions to other parties 133

if doing so is contrary to your interests. 134




This disclosure is required by section 452.135 of the Wisconsin statutes and is for information only. It is a plain-language 138

summary of the duties to you under section 452.133 (2) of the Wisconsin statutes. 139

■ CONFIDENTIALITY NOTICE TO CLIENTS: The Firm and its agents will keep confidential any information given to 140

the Firm or its agents in confidence, or any information obtained by the Firm and its agents that a reasonable person 141

would want to be kept confidential, unless the information must be disclosed by law or you authorize the Firm to 142

disclose particular information. The Firm and its agents shall continue to keep the information confidential after the Firm 143

is no longer providing brokerage services to you. 144

The following information is required to be disclosed by law: 145

1) Material Adverse Facts, as defined in section 452.01 (5g) of the Wisconsin statutes (see lines 192-195). 146

2) Any facts known by the Firm and its agents that contradict any information included in a written inspection report on 147

the property or real estate that is the subject of the transaction. 148

To ensure that the Firm and its agents are aware of what specific information you consider confidential, you may list that 149

information below (see lines 152-154). At a later time, you may also provide the Firm with other information you 150

consider to be confidential. 151

CONFIDENTIAL INFORMATION: ___________________________________________________________________ 152

______________________________________________________________________________________________. 153

______________________________________________________________________________________________. 154

NON-CONFIDENTIAL INFORMATION (The following may be disclosed by the Firm and its agents):_______________ 155

_______________________________________________________________________________________________ 156

______________________________________________________________________________________________. 157

OCCUPANCY Unless otherwise provided, Seller agrees to give buyer occupancy of the Property at time of closing 158

and to have the Property in broom swept condition and free of all debris and personal property except for personal 159

property belonging to current tenants, sold to buyer or left with buyer's consent. 160

32

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DEFINITIONS 166






(b) Information that indicates that a party to a transaction is not able to or does not intend to meet his or her obligations 172


■ DEADLINES – DAYS: Deadlines expressed as a number of "days" from an event are calculated by excluding the day the 174

event occurred and by counting subsequent calendar days. 175







removable without damage to the premises, items specifically adapted to the premises, and items customarily treated 182

as fixtures, including, but not limited to, all: garden bulbs; plants; shrubs and trees; screen and storm doors and 183

windows; electric lighting fixtures; window shades; curtain and traverse rods; blinds and shutters; central heating and 184

cooling units and attached equipment; water heaters, water softeners and treatment systems; sump pumps; attached or 185

fitted floor coverings; awnings; attached antennas and satellite dishes; audio/visual wall mounting brackets (but not the 186

audio/visual equipment); garage door openers and remote controls; installed security systems; central vacuum systems 187

and accessories; in-ground sprinkler systems and component parts; built-in appliances; ceiling fans; fences; in-ground 188

pet containment systems (but not the collars); storage buildings on permanent foundations and docks/piers on 189

permanent foundations. A "Fixture" does not include trade fixtures owned by tenants of the Property. 190

CAUTION: Exclude fixtures not owned by Seller such as rented fixtures and tenant’s trade fixtures. 191


significance, or that is generally recognized by a competent licensee as being of such significance to a reasonable 193

party, that it affects or would affect the party's decision to enter into a contract or agreement concerning a transaction or 194

affects or would affect the party's decision about the terms of such a contract or agreement. 195

■ PERSON ACTING ON BEHALF OF BUYER: "Person Acting on Behalf of Buyer" shall mean any person joined in 196

interest with buyer, or otherwise acting on behalf of buyer, including but not limited to buyer's immediate family, agents, 197

employees, directors, managers, members, officers, owners, partners, incorporators and organizers, as well as any and all 198

corporations, partnerships, limited liability companies, trusts or other entities created or controlled by, affiliated with or 199

owned by buyer, in whole or in part whether created before or after expiration of this Listing. 200

■ PROPERTY: Unless otherwise stated, “Property” means the real estate described at lines 2-4. 201

■ PROTECTED BUYER: Means a buyer who personally, or through any Person Acting on Behalf of Buyer, during the term of 202

this Listing: 203

1) Delivers to Seller or the Firm or its agents a written offer to purchase, exchange or option on the Property; 204






301-309) of the Listing. The requirement in 3), to deliver the buyer’s name to Seller in writing, may be fulfilled as 210

follows: 211



b) If a buyer has requested that the buyer’s identity remain confidential, by delivery of a written notice identifying the 214

firm or agents with whom the buyer negotiated and the date(s) of any individual showings or other negotiations. 215

A Protected Buyer also includes any Person Acting on Behalf of Buyer joined in interest with or otherwise acting on 216

behalf of a Protected Buyer, who acquires an interest in the Property during the extension of listing period as noted on 217

lines 296-300. 218

33

of 7, WB-5

SELLER DISCLOSURE REPORT Seller agrees to complete the disclosure report provided by the Firm to the best of 219

Seller's knowledge. Seller agrees to amend the report should Seller learn of any Defect(s) after completion of the report 220

but before acceptance of a buyer's offer to purchase. Seller authorizes the Firm and its agents to distribute the report to 221

all interested parties and their agents inquiring about the Property. Seller acknowledges that the Firm and its agents 222

have a duty to disclose all Material Adverse Facts as required by law. 223


Seller has no notice or knowledge of any Defects affecting the Property other than those noted on Seller’s disclosure 225

report or written response. 226





which are required in connection with the sale. Seller authorizes the Firm to do those acts reasonably necessary to 231

effect a sale and Seller agrees to cooperate fully with these efforts which may include use of a multiple listing service, 232

Internet advertising or a lockbox system at the Property. Seller shall promptly refer all persons making inquiries 233

concerning the Property to the Firm and notify the Firm in writing of any potential buyers with whom Seller negotiates or 234

who view the Property with Seller during the term of this Listing. 235


agents will work and cooperate with other firms in marketing the Property, including firms acting as subagents (other 237

firms engaged by the Firm - see lines 130-134) and firms representing buyers. Cooperation includes providing access to 238

the Property for showing purposes and presenting offers and other proposals from these firms to Seller. Note any firms 239

with whom the Firm shall not cooperate, any firms or agents or buyers who shall not be allowed to attend showings, and 240

the specific terms of offers which should not be submitted to Seller: _________________________________________ 241

______________________________________________________________________________________________. 242





The following other buyers ____________________________________________________________________________ 247

_____________________________________are excluded from this Listing until _________________________________ 248





lines 254-273. 253






Seller: (________) ______________________________ Firm: (_________) _________________________________ 259





party, or to the party's recipient for delivery if named at line 256 or 257 for delivery to the party's delivery address at line 264

266 or 267. 265








E-Mail address for Firm: __________________________________________________________________________ 273

34

of 7, WB-5


prospective buyer on account of race, color, sex, sexual orientation as defined in Wisconsin Statutes, Section 275

111.32 (13m), disability, religion, national origin, marital status, lawful source of income, age, ancestry, family 276

status, status as a victim of domestic abuse, sexual assault, or stalking, or in any other unlawful manner. 277


Firm’s trust account. The Firm may refuse to hold earnest money or other trust funds. Should the Firm hold the earnest money, 279

the Firm shall hold and disburse the earnest money funds in accordance with Wis. Stat. Ch. 452 and Wis. Admin. Code 280

Ch. REEB 18. If the transaction fails to close and the Seller requests and receives the earnest money as the total 281

liquidated damages, then upon disbursement to Seller, the earnest money shall be paid first to reimburse the Firm for cash 282

advances made by the Firm on behalf of Seller and one half of the balance, but not in excess of the agreed commission, shall 283

be paid to the Firm as full commission in connection with said purchase transaction and the balance shall belong to Seller. This 284

payment to the Firm shall not terminate this Listing. 285






wrongdoing of the Firm or its agents. Seller acknowledges that individual showings and open houses may be conducted 291

by licensees other than the Firm, that appraisers and inspectors may conduct appraisals and inspections without being 292

accompanied by agents of the Firm or other licensees, and that buyers or licensees may be present at all inspections 293

and testing and may photograph or videotape Property unless otherwise provided for in additional provisions at lines 294

318-329 or in an addendum per lines 330-335. 295









commission amount or shorten the term of this Listing, without the written consent of the agent(s)’ supervising broker. Seller 304

and the Firm agree that any termination of this Listing by either party before the date stated on line 337 shall be 305











persons registered with the registry by contacting the Wisconsin Department of Corrections on the Internet at 316

http://www.doc.wi.gov or by telephone at (608)240-5830. 317

35


of 7, WB-5

ADDITIONAL PROVISIONS _____________________________________________________________________ 318

_______________________________________________________________________________________________319

_______________________________________________________________________________________________320

_______________________________________________________________________________________________321

_______________________________________________________________________________________________322

_______________________________________________________________________________________________ 323

_______________________________________________________________________________________________324

_______________________________________________________________________________________________325

_______________________________________________________________________________________________326

_______________________________________________________________________________________________327

_______________________________________________________________________________________________328

_______________________________________________________________________________________________ 329

ADDENDA The attached addenda __________________________________________________________________ 330

_______________________________________________________________________________________________ 331

_______________________________________________________________________________________________ 332

_______________________________________________________________________________________________ 333

_______________________________________________________________________________________________334

_________________________________________________________________is/are made part of this Listing. 335

TERM OF THE CONTRACT From the _________________ day of ___________________________, __________, 336

up to the earlier of midnight of the ______________ day of ____________________________, ________, or the 337

conveyance of the entire Property. 338

BY SIGNING BELOW, SELLER ACKNOWLEDGES RECEIPT OF A COPY OF THIS LISTING CONTRACT AND 339

THAT HE/SHE HAS READ ALL 7 PAGES AS WELL AS ANY ADDENDA AND ANY OTHER DOCUMENTS 340

INCORPORATED INTO THE LISTING. 341

All persons signing below on behalf of a Seller Entity represent that they have legal authority to sign for and bind the Entity. 342

______________________________________________________________________________________________ 343


(x)______________________________________________________________________ _____________________ 345



______________________________________________________________________________________________ 348

Seller Entity Name (if any) ▲ 349

(x)______________________________________________________________________ _____________________ 350



(x)____________________________________________________________________ ______________________ 353

Seller's Signature ▲ Print Name Date ▲ 354

(x)_____________________________________________________________________ ______________________ 355


(x)_____________________________________________________________________ ______________________ 357


(x)_____________________________________________________________________ ______________________ 359


_____________________________________________________________________________________________ 361

Firm Name ▲ 362

(x)_______________________________________________________________________ ____________________ 363


36

SELLER GIVES THE FIRM THE EXCLUSIVE RIGHT TO SELL THE ASSETS ON THE FOLLOWING TERMS: 1

Business Name (include both legal and any trade name): _______________________________________________________________________ 2

____________________________________________________________________________________________________________________ 3

Type of Business Entity (e.g., corporation, LLC, partnership, sole proprietorship, etc.): _________________________________________________ 4

____________________________________________________________________________________________________________________ 5

Business Description and Current Location of Assets: __________________________________________________________________________ 6

____________________________________________________________________________________________________________________ 7

(lines 2-7 hereinafter referred to as the “Business”). Insert additional description, if any, at lines 249-259 or attach as an addendum per line 332. 8

■ INCLUDED IN LIST PRICE: Seller shall include in the list price (unless excluded at lines 32-35) and transfer, free and clear of encumbrances, the 9

Assets of the Business including all goodwill, stock-in-trade, trade fixtures, accounts receivable, Business Personal Property, the interest in Real 10

Estate (if included on lines 22-31), Fixtures (if interest in Real Estate is included), and the following additional property: _______________________ 11

___________________________________________________________________________________________________________________ 12

___________________________________________________________________________________________________________________ 13

____________________________________________________________________________________________________________________14

__________________________________________________ STRIKE AND COMPLETE AS APPLICABLE (hereinafter collectively the “Assets”). 15

Seller shall convey Business Personal Property and any other personal property by Bill of Sale or _______________________________________ 16

___________________________________________________________________________________________________________________, 17

free and clear of all liens and encumbrances except __________________________________________________________________________ 18

___________________________________________________________________________________________________________________. 19

■ INTEREST IN REAL ESTATE CHECK BOX ON LINE 21 or 22, AS APPLICABLE 20

NO INTEREST IN REAL ESTATE INCLUDED IN LIST PRICE 21

DESCRIPTION OF INTEREST IN REAL ESTATE INCLUDED IN LIST PRICE: 22

Street address is: ___________________________________________________________________________________________________ 23

_________________________________________________________________________________________ in the ___________________ 24

of _________________________________, County of _____________________________________________, Wisconsin (the “Real Estate”). 25

The Real Estate is owned by: _________________________________________________________________________________________. 26

The Real Estate is leased to: __________________________________________________________________________. (See lines 200-204) 27

The interest in the Real Estate included in the list price is: ownership leasehold assignment of existing lease 28

other:_______________________________________________________________________________. Insert any additional description, 29

including further description of the type of interest in the Real Estate that is included in list price, at lines 249-259 or attach as an addendum per 30

line 332. 31

■ NOT INCLUDED IN LIST PRICE: _______________________________________________________________________________________ 32

____________________________________________________________________________________________________________________33

___________________________________________________________________________________________________________________. 34

CAUTION: Identify any Fixtures, trade fixtures and Business Personal Property to be excluded by Seller (See lines 32-34 and 268-275). 35

■ LIST PRICE: ____________________________________________________________ Dollars ($ _________________________________). 36

MARKETING Seller authorizes and the Firm and its agents agree to use reasonable efforts to market the Assets. The marketing may include: 37

____________________________________________________________________________________________________________________ 38

______________________________________________________________________________________________. The Firm and its agents 39

may advertise the following special financing and incentives offered by Seller: _______________________________________________________ 40

__________________________________________________________________________________. Seller has a duty to cooperate with the 41

marketing efforts of the Firm and its agents. See lines 178-183 regarding the Firm’s role as marketing agent and Seller’s duty to notify the Firm of any 42

potential buyers known to Seller. Seller agrees that the Firm and its agents may market other assets and properties during the term of this Listing. 43

COMPENSATION TO OTHERS The Firm offers the following commission to cooperating firms: ________________________________________ 44

___________________________________________________________________________________________________________________. 45

(Exceptions if any): ____________________________________________________________________________________________________. 46

COMMISSION The Firm’s commission shall be _____________________________________________________________________________ 47

____________________________________________________________________________________________________________________48

___________________________________________________________________________________________________________________. 49

■ EARNED: Seller shall pay the Firm’s commission, which shall be earned if, during the term of this Listing: 50

1) Seller sells or accepts an offer which creates an enforceable contract for the sale of all or any part of the Assets; 51

2) Seller grants an option to purchase all or any part of the Assets which is subsequently exercised; 52

3) Seller exchanges or enters into a binding exchange agreement on all or any part of the Assets; 53

4) A transaction occurs which causes an effective change of ownership, management or control of all or any part of the Assets from Seller to a third 54

party, other than in the ordinary course of business; 55


WB-6 BUSINESS LISTING CONTRACT - EXCLUSIVE RIGHT TO SELL

37

of 7, WB-6 5) A transfer or sale of any stock, shares, membership or partnership interest of the Business entity occurs which results in an effective change of 56

ownership, management or control of the Business; 57

6) A ready, willing and able buyer submits a bona fide written offer to Seller or the Firm for the Assets at, or above, the list price and on substantially 58

the same terms set forth in this Listing and the current WB-16 Offer To Purchase - Business With Real Estate (if real property is included in the list 59

price) or WB-17 Offer To Purchase - Business Without Real Estate, even if Seller does not accept this buyer’s offer. A buyer is ready, willing and 60

able when the buyer submitting the written offer has the ability to complete the buyer’s obligations under the written offer; 61

7) Seller enters into a management contract involving all or any part of the Assets during the term of this Listing; 62

8) Seller enters into lease(s) involving all or any part of the Assets during the term of this Listing, other than in the ordinary course of business. 63

NOTE: Each item on lines 51-63 is a commissionable event and the commission due shall be the aggregate of the amounts earned for all 64

commissionable events. This may require allocation of list price or fair market value among Assets. 65

The Firm’s commission shall be earned if, during the term of the Listing, one owner of the Assets sells, conveys, exchanges or options, as described 66

above, an interest in all or any part of the Assets to another owner, except by divorce judgment. 67

■ DUE AND PAYABLE: Once earned, the Firm’s commission is due and payable in full at the earlier of closing or the date set for closing, even if the 68

transaction does not close, unless otherwise agreed in writing. 69


Under 1) or 2) the purchase price. 71

Under 4), 5), 6), 7), 8), or 3) (if an exchange of all Assets), the list price if the entire Property is involved. 72

Under 3) if the exchange does not involve all Assets, the fair market value of the Assets exchanged. 73

“Purchase price” shall include all consideration received by Seller including, but not limited to, buyer assumptions of debt, any Seller provided 74

financing and all consideration received by other selling or transferring parties, as the case may be. 75

NOTE: If a commission is earned for a portion of the Assets it does not terminate the Listing as to any remaining Assets. 76

BUYER FINANCIAL CAPABILITY The Firm and its agents are not responsible under Wisconsin statutes or regulations to qualify a buyer’s financial 77

capability. If Seller wishes to confirm a buyer’s financial capability, Seller may negotiate inclusion of a contingency for financing, proof of funds, qualification 78

from a lender, sale of buyer’s property, or other confirmation in any offer to purchase or contract. 79


Under Wisconsin law, a brokerage firm (hereinafter firm) and its brokers and salespersons (hereinafter agents) owe certain duties to all parties to a 81

transaction: 82



(c) The duty to provide you with accurate information about market conditions within a reasonable time if you request it, unless disclosure of the 85

information is prohibited by law. 86

(d) The duty to disclose to you in writing certain Material Adverse Facts about a property, unless disclosure of the information is prohibited by law. 87

(See lines 290-292.) 88

(e) The duty to protect your confidentiality. Unless the law requires it, the firm and its agents will not disclose your confidential information or the 89

confidential information of other parties. (See lines 139-158.) 90

(f) The duty to safeguard trust funds and other property the firm and its agents holds. 91

(g) The duty, when negotiating, to present contract proposals in an objective and unbiased manner and disclose the advantages and 92

disadvantages of the proposals. 93

BECAUSE YOU HAVE ENTERED INTO AN AGENCY AGREEMENT WITH A FIRM, YOU ARE THE FIRM’S CLIENT. 94

A FIRM OWES ADDITIONAL DUTIES TO YOU AS A CLIENT OF THE FIRM: 95

(a) The firm or one of its agents will provide, at your request, information and advice on real estate matters that affect your transaction, unless you 96

release the firm from this duty. 97


(c) The firm and its agents will fulfill the broker's obligations under the agency agreement and fulfill your lawful requests that are within the scope of 99

the agency agreement. 100


(e) The firm and its agents will not place their interests ahead of your interests. The firm and its agents will not, unless required by law, give 102

information or advice to other parties who are not the firm’s clients, if giving the information or advice is contrary to your interests. 103

If you become involved in a transaction in which another party is also the firm’s client (a "multiple representation relationship"), different duties may 104

apply. 105


■ A multiple representation relationship exists if a firm has an agency agreement with more than one client who is a party in the same transaction. 107

If you and the firm’s other clients in the transaction consent, the firm may provide services through designated agency, which is one type of multiple 108

representation relationship. 109

■ Designated agency means that different agents with the firm will negotiate on behalf of you and the other client or clients in the transaction, and 110

the firm’s duties to you as a client will remain the same. Each agent will provide information, opinions, and advice to the client for whom the agent is 111

negotiating, to assist the client in the negotiations. Each client will be able to receive information, opinions, and advice that will assist the client, even 112

if the information, opinions, or advice gives the client advantages in the negotiations over the firm’s other clients. An agent will not reveal any of your 113

confidential information to another party unless required to do so by law. 114

38

of 7, WB-6 ■ If a designated agency relationship is not authorized by you or other clients in the transaction you may authorize or reject a multiple representation 115

relationship in which the firm may provide brokerage services to more than one client in a transaction but neither the firm nor any of its agents may 116

assist any client with information, opinions, and advice which may favor the interests of one client over any other client. Under this neutral approach, 117

the same agent may represent more than one client in a transaction. 118

■ If you do not consent to a multiple representation relationship the firm will not be allowed to provide brokerage services to more than one client in 119

the transaction. 120


The same firm may represent me and the other party as long as the same agent is not representing us both. 122

(multiple representation relationship with designated agency) 123

The same firm may represent me and the other party, but the firm must remain neutral regardless if one or more 124

different agents are involved. (multiple representation relationship without designated agency) 125



NOTE: All clients who are parties to this agency agreement consent to the selection checked above. You may modify this selection by 128

written notice to the firm at any time. Your firm is required to disclose to you in your agency agreement the commission or fees that you 129

may owe to your firm. If you have any questions about the commission or fees that you may owe based upon the type of agency 130

relationship you select with your firm you should ask your firm before signing the agency agreement. 131

SUBAGENCY Your firm may, with your authorization in the agency agreement, engage other firms (subagent firms) to assist your firm by providing brokerage 132

services for your benefit. A subagent firm and the agents associated with the subagent firm will not put their own interests ahead of your interests. A 133

subagent firm will not, unless required by law, provide advice or opinions to other parties if doing so is contrary to your interests. 134

PLEASE REVIEW THIS INFORMATION CAREFULLY. An agent can answer your questions about brokerage services, but if you need legal 135

advice, tax advice, or a professional home inspection, contact an attorney, tax advisor, or home inspector. 136

This disclosure is required by section 452.135 of the Wisconsin statutes and is for information only. It is a plain-language summary of the duties owed 137

to you under section 452.133(2) of the Wisconsin statutes. 138

■ CONFIDENTIALITY NOTICE TO CLIENTS: The Firm and its agents will keep confidential any information given to the Firm or its agents in 139

confidence, or any information obtained by the Firm and its agents that a reasonable person would want to be kept confidential, unless the 140

information must be disclosed by law or you authorize the Firm to disclose particular information. The Firm and its agents shall continue to keep the 141

information confidential after the Firm is no longer providing brokerage services to you. 142


1) Material Adverse Facts, as defined in section 452.01(5g) of the Wisconsin statutes (see lines 290-292). 144

2) Any facts known by the Firm and its agents that contradict any information included in a written inspection report on the property or real estate 145

that is the subject of the transaction. 146

To ensure that the Firm and its agents are aware of what specific information you consider confidential, you may list that information below (see lines 147

149-153). At a later time, you may also provide the Firm with other information you consider to be confidential. 148

CONFIDENTIAL INFORMATION: ________________________________________________________________________________________ 149

____________________________________________________________________________________________________________________ 150

____________________________________________________________________________________________________________________ 151

____________________________________________________________________________________________________________________ 152

____________________________________________________________________________________________________________________ 153

NON-CONFIDENTIAL INFORMATION (The following may be disclosed by the Firm and its agents): ____________________________________ 154

____________________________________________________________________________________________________________________ 155

____________________________________________________________________________________________________________________ 156

____________________________________________________________________________________________________________________ 157

____________________________________________________________________________________________________________________ 158

39

of 7, WB-6

SELLER RESPONSIBILITIES Seller agrees to hold the Firm and its agents harmless as to any losses suffered by them because of any breach of 159

contract by Seller where the Firm has acted as agent for Seller according to terms and conditions set forth in this Listing, including but not limited to, 160

the payment of costs and reasonable attorney fees required to defend the Firm and its agents from claims by a buyer of the Assets. Seller is aware 161

that there is a potential risk of injury, damage, loss or theft involving persons attending an individual showing of the Assets. Seller accepts 162

responsibility for preparing the Assets to minimize the likelihood of personal injury, property damage, loss or theft. Seller agrees to hold the Firm and 163

its agents harmless for any losses or liability resulting from personal injury, property damage, loss or theft occurring during the term of this listing, 164

other than those caused by the negligence or intentional wrongdoing of the Firm or its agents. Seller acknowledges that showings may be conducted 165

by licensees other than the Firm, that appraisers and inspectors may conduct appraisals and inspections without being accompanied by agents of 166

the Firm or other licensees, and that buyers or licensees may be present at all inspections and testing and may photograph or videotape the Assets 167

unless otherwise provided for in additional provisions at lines 249-259 or in an addendum per line 332. 168

SELLER’S DISCLOSURE REPORT(S) If there is an interest in Real Estate included in the list price, Seller agrees to complete and provide the 169

Firm with a written property condition report or vacant land disclosure report as applicable or required by law. The Firm may also request that Seller 170

complete disclosure report(s) pertaining to Assets other than Real Estate and Seller agrees to complete and provide such written report(s). Seller 171

agrees to complete all reports to the best of Seller’s knowledge. Seller agrees to promptly amend the report(s) to include any information that would 172

change a response if Seller learns of such information after completion of the report(s), but before acceptance of a buyer’s offer to purchase. Seller 173

authorizes the Firm and its agents to distribute any report(s) completed by Seller regarding the Real Estate or Assets other than Real Estate to all 174

interested parties and their agents inquiring about the Assets. Seller acknowledges that the Firm and its agents have a duty to disclose all Material 175

Adverse Facts, as required by law. 176

WARNING: IF SELLER REPRESENTATIONS ARE INCORRECT OR INCOMPLETE, SELLER MAY BE LIABLE FOR DAMAGES AND COSTS. 177

SELLER COOPERATION WITH MARKETING EFFORTS Seller agrees to cooperate with the Firm in the Firm’s marketing efforts and to provide 178

the Firm with all records, documents and other material in Seller's possession or control which are required in connection with the sale. Seller 179

authorizes the Firm and its agents to do those acts reasonably necessary to effect a sale and Seller agrees to cooperate fully with these efforts which 180

may include Internet advertising or a lockbox system on the Real Estate. Seller shall promptly refer all persons making inquiries concerning the 181

Assets to the Firm and notify the Firm in writing of the names and contact information of any potential buyers known to Seller, who contact Seller or 182

with whom Seller negotiates or who view the Assets with Seller during the term of this Listing. 183

SELLER AUTHORITY Seller represents that Seller has authority to sign this Listing and negotiate the sale of the Assets. If Seller is an entity, Seller 184

agrees, within 15 days of the execution of this Listing, to provide the Firm with a copy of document(s) confirming the authority to negotiate the sale of 185

the Assets. 186

DOCUMENTS AND RECORDS Seller agrees to promptly deliver all financial, business or other records, documents or materials related to the 187

Assets or transaction which are required in connection with the marketing or sale. Seller warrants that all written documents and records given 188

to the Firm in conjunction with the marketing or sale of the Assets shall be true and accurate. Seller agrees to hold the Firm and its agents 189

harmless from loss or liability resulting from their use of these documents and records, including but not limited to, the payment of costs and 190

reasonable attorney fees in the event of any suit against the firm or its agents arising out of the use of these documents and records. Seller 191

authorizes the Firm and its agents to distribute any or all of the documents and records given to the Firm to prospective buyers and their business, 192

legal or tax counsel. 193

EXTENSION OF LISTING The Listing term is extended for a period of one year as to any Protected Buyer. Upon receipt of a written request from 194

Seller or a firm who has listed the Assets, the Firm agrees to promptly deliver to Seller a written list of those buyers known by the Firm and its agents 195

to whom the extension period applies. Should this Listing be terminated by Seller prior to the expiration of the term stated in this Listing, this Listing 196

shall be extended for Protected Buyers, on the same terms, for one year after the Listing is terminated (lines 218-225). 197

OCCUPANCY Unless otherwise provided, Seller agrees to give buyer occupancy of the Real Estate at time of closing and to have the Real Estate 198

free of all debris and personal property except for personal property belonging to current tenants, sold to buyer or left with buyer's consent. 199

LEASED PROPERTY If any Assets are currently leased to third parties and the lease(s) will extend beyond closing, Seller shall assign Seller’s 200

rights under the lease(s) and transfer all security deposits and prepaid rents (subject to agreed upon prorations) thereunder to buyer at closing. Seller 201

acknowledges that Seller remains liable under the lease(s) unless released by tenants. 202

CAUTION: Seller should consider obtaining an indemnification agreement from buyer for liabilities under the lease(s) unless released by 203

tenants. 204

NOTICE ABOUT SEX OFFENDER REGISTRY You may obtain information about the sex offender registry and persons registered with the 205

registry by contacting the Wisconsin Department of Corrections on the Internet at http://www.doc.wi.gov or by telephone at (608) 240-5830. 206

NON-DISCRIMINATION Seller and the Firm and its agents agree that they will not discriminate against any prospective buyer on 207

account of race, color, sex, sexual orientation as defined in Wis. Stat. § 111.32(13m), disability, religion, national origin, marital status, 208

lawful source of income, age, ancestry, family status, status as a victim of domestic abuse, sexual assault, or stalking, or in any other 209

unlawful manner. 210

40


of 7, WB-6

EARNEST MONEY If the Firm holds trust funds in connection with the transaction, they shall be retained by the Firm in the Firm’s trust account. 211

The Firm may refuse to hold earnest money or other trust funds. Should the Firm hold the earnest money, the Firm shall hold and disburse the 212

earnest money funds in accordance with Wis. Stat. Ch. 452 and Wis. Admin. Code Ch. REEB 18. If the transaction fails to close and the Seller 213

requests and receives the earnest money as the total liquidated damages, then upon disbursement to Seller, the earnest money shall be paid first to 214

reimburse the Firm for cash advances made by the Firm on behalf of Seller and one half of the balance, but not in excess of the agreed commission, 215

shall be paid to the Firm as full commission in connection with said purchase transaction and the balance shall belong to Seller. This payment to the 216

Firm shall not terminate this Listing. 217

TERMINATION OF LISTING Neither Seller nor the Firm has the legal right to unilaterally terminate this Listing absent a material breach of contract 218

by the other party. Seller understands that the parties to the Listing are Seller and the Firm. Agents for the Firm do not have the authority to enter into 219

a mutual agreement to terminate the Listing, amend the commission amount or shorten the term of this Listing, without the written consent of the 220

agent(s)’ supervising broker. Seller and the Firm agree that any termination of this Listing by either party before the date stated on line 334 shall be 221

effective by the Seller only if stated in writing and delivered to the Firm in accordance with lines 312-331 and effective by the Firm only if stated in 222

writing by the supervising broker and delivered to Seller in accordance with lines 312-331. 223

CAUTION: Early termination of this Listing may be a breach of contract, causing the terminating party to potentially be liable for 224

damages. 225

DISPUTE RESOLUTION The Parties understand that if there is a dispute about this Listing or an alleged breach, and the parties cannot resolve the 226

dispute by mutual agreement, the parties may consider judicial resolution in court or may consider alternative dispute resolution. Alternative dispute 227

resolution may include mediation and binding arbitration. Should the parties desire to submit any potential dispute to alternative dispute resolution, it 228

is recommended that the parties add such in Additional Provisions or in an Addendum. 229

LIEN NOTICE The Firm has the authority under section 779.32 of the Wisconsin Statutes to file a lien for commissions or compensation earned but 230

not paid when due against the commercial real estate, or the interest in the commercial real estate, if any, that is the subject of this 231

Listing. “Commercial real estate” includes all real estate except (a) real property containing 8 or fewer dwelling units, (b) real property that is zoned 232

for residential purposes and that does not contain any buildings or structures, and (c) real property that is zoned for agricultural purposes. 233

COOPERATION, ACCESS TO PROPERTY OR OFFER PRESENTATION The parties agree that the Firm and its agents will work and cooperate 234

with other firms and agents in marketing the Assets, including firms acting as subagents (other firms engaged by the Firm - see lines 132-134) and 235

firms representing buyers. Cooperation includes providing access to the Assets for showing purposes and presenting offers and other proposals 236

from these firms to Seller. Note any firms with whom the Firm shall not cooperate, any firms or agents or buyers who shall not be allowed to attend 237

showings, and the specific terms of offers which should not be submitted to Seller: ____________________________________________________ 238

___________________________________________________________________________________________________________________. 239

CAUTION: Limiting the Firm’s cooperation with other firms may reduce the marketability of the Assets. 240

EXCLUSIONS All persons who may acquire an interest in the Assets who are Protected Buyers under a prior listing contract are excluded from this 241

Listing to the extent of the prior firm’s legal rights, unless otherwise agreed to in writing. Within seven days of the date of this Listing, Seller agrees to 242

deliver to the Firm a written list of all such Protected Buyers. 243


The following other buyers _______________________________________________________________________________________________ 245

_________________________________________________________________________________________________________ are excluded 246

from this Listing until ________________________________ [INSERT DATE]. These other buyers are no longer excluded from this Listing after 247

the specified date unless, on or before the specified date, Seller has either accepted a written offer from the buyer or sold the Assets to the buyer. 248

ADDITIONAL PROVISIONS __________________________________________________________________________________________ 249

____________________________________________________________________________________________________________________250

____________________________________________________________________________________________________________________ 251

____________________________________________________________________________________________________________________ 252

____________________________________________________________________________________________________________________ 253

____________________________________________________________________________________________________________________ 254

____________________________________________________________________________________________________________________ 255

____________________________________________________________________________________________________________________ 256

____________________________________________________________________________________________________________________ 257

____________________________________________________________________________________________________________________ 258

____________________________________________________________________________________________________________________ 259

41

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DEFINITIONS As used in this Listing, the following definitions apply: 260



1) Significantly and adversely affecting the value of the property; 263


3) Presenting a significant health risk to occupants of the property. 265

(b) Information that indicates that a party to a transaction is not able to or does not intend to meet his or her obligations under a contract or 266

agreement made concerning the transaction. 267

■ BUSINESS PERSONAL PROPERTY: “Business Personal Property” is defined as all tangible and intangible personal property and rights in 268

personal property owned by Seller and used in the Business, including, but not limited to, furniture, trade fixtures and equipment, tools used in 269

business, telephone numbers and listings if transferable, customer lists, trade names, intellectual property, Internet domain names, digital media, 270

digital marketing, databases, business records, supplies, leases, advance lease deposits, customer deposits, signs, all other personal property used 271

in the Business, and if transferable, all permits, special licenses and franchises, except those assets disposed of in the ordinary course of business 272

or as permitted by the offer. 273

CAUTION: Identify on lines 32-35 Business Personal Property not included in the list price or not exclusively owned by Seller, such as 274

licensed or rented personal property, tenants’ personal property and tenants’ trade fixtures. 275

■ DEADLINES – DAYS: Deadlines expressed as a number of "days" from an event are calculated by excluding the day the event occurred and by 276

counting subsequent calendar days. 277


■ FIXTURES: A “Fixture” is an item of property which is physically attached to or so closely associated with land or buildings so as to be treated as 279

part of the real estate, including, without limitation, physically attached items not easily removable without damage to the premises, items specifically 280

adapted to the premises, and items customarily treated as fixtures, including, but not limited to, all: garden bulbs; plants; shrubs and trees; screen 281

and storm doors and windows; electric lighting fixtures; window shades; curtain and traverse rods; blinds and shutters; central heating and cooling 282

units and attached equipment; water heaters, water softeners and treatment systems; sump pumps; attached or fitted floor coverings; awnings; 283

attached antennas and satellite dishes; audio/visual wall mounting brackets (but not the audio/visual equipment); garage door openers and remote 284

controls; installed security systems; central vacuum systems and accessories; in-ground sprinkler systems and component parts; built-in appliances; 285

ceiling fans; fences; in-ground pet containment systems (but not the collars); storage buildings on permanent foundations and docks/piers on 286

permanent foundations. A Fixture does not include trade fixtures owned by tenants of the Real Estate. 287

CAUTION: If an interest in real estate is included in the list price, identify on lines 32-35 Fixtures not included in the list price or not 288

exclusively owned by Seller, such as rented Fixtures. 289

■ MATERIAL ADVERSE FACT: A "Material Adverse Fact" means an Adverse Fact that a party indicates is of such significance, or that is generally 290

recognized by a competent licensee as being of such significance to a reasonable party, that it affects or would affect the party's decision to enter into 291

a contract or agreement concerning a transaction or affects or would affect the party's decision about the terms of such a contract or agreement. 292

■ PERSON ACTING ON BEHALF OF BUYER: "Person Acting on Behalf of Buyer" shall mean any person joined in interest with buyer, or otherwise 293

acting on behalf of buyer, including but not limited to buyer's immediate family, agents, servants, employees, directors, managers, members, officers, 294

owners, partners, incorporators and organizers, as well as any and all corporations, partnerships, limited liability companies, trusts or other entities 295

created or controlled by, affiliated with or owned by buyer, in whole or in part whether created before or after expiration of this Listing. 296

■ PROTECTED BUYER: “Protected Buyer” means a buyer who personally, or through any Person Acting on Behalf of Buyer, during the term of this 297

Listing: 298

1) Delivers to Seller or the Firm or its agents a written offer to purchase, exchange or option on the Assets; 299

2) Views the Property with Seller or negotiates directly with Seller by communicating with Seller regarding any potential terms upon which the 300

buyer might acquire an interest in the Assets; or 301

3) Attends an individual showing of the Assets or communicates with agents of the Firm or cooperating firms regarding any potential terms upon 302

which the buyer might acquire an interest in the Assets, but only if the Firm or its agents deliver the buyer’s name to Seller, in writing, no later 303

than three days after the earlier of expiration or termination (lines 218-225) of the Listing. The requirement in 3), to deliver the buyer’s name to 304

Seller in writing, may be fulfilled as follows: 305

a) If the Listing is effective only as to certain individuals who are identified in the Listing, by the identification of the individuals in the Listing; 306

or 307

b) If a buyer has requested that the buyer’s identity remain confidential, by delivery of a written notice identifying the firm or agents with 308

whom the buyer negotiated and the date(s) of any individual showings or other negotiations. 309

A Protected Buyer also includes any Person Acting on Behalf of Buyer joined in interest with or otherwise acting on behalf of a Protected Buyer, who 310

acquires an interest in the Assets during the extension of listing period as noted on lines 194-196. 311

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DELIVERY OF DOCUMENTS AND WRITTEN NOTICES Unless otherwise stated in this Listing, delivery of documents and written notices to a 312

party shall be effective only when accomplished by one of the methods specified at lines 314-331. 313

(1) Personal Delivery: giving the document or written notice personally to the party, or the party's recipient for delivery if named at line 315 or 316. 314

Seller’s recipient for delivery (optional): ____________________________________________________________________________________ 315

Firm’s recipient for delivery (optional): _____________________________________________________________________________________ 316


Seller: (________) ___________________________ Firm: (________) _____________________________________ 318

(3) Commercial Delivery: depositing the document or written notice fees prepaid or charged to an account with a commercial delivery service, 319

addressed either to the party, or to the party's recipient for delivery if named at line 315 or 316, for delivery to the party's delivery address at line 324 320

or 325. 321

(4) U.S. Mail: depositing the document or written notice postage prepaid in the U.S. Mail, addressed either to the party, or to the party's 322

recipient for delivery if named at line 315 or 316, for delivery to the party's delivery address at line 324 or 325. 323

Delivery address for Seller: ______________________________________________________________________________________________ 324

Delivery address for Firm: _______________________________________________________________________________________________ 325

(5) E-Mail: electronically transmitting the document or written notice to the party’s e-mail address, if given below at line 330 or 331. If this is a 326

consumer transaction where the property being leased or purchased or the proceeds are used primarily for personal, family or household purposes, 327

each consumer providing an e-mail address below has first consented electronically to the use of electronic documents, e-mail delivery and 328

electronic signatures in the transaction, as required by federal law. 329

E-Mail address for Seller: _______________________________________________________________________________________________ 330

E-Mail address for Firm: ________________________________________________________________________________________________ 331

ADDENDA The attached ______________________________________________________________________ is/are made part of this Listing. 332

TERM OF THE CONTRACT From the _______________ day of _________________________, ________ up to the earlier of midnight of the 333

_____________day of _______________________, ________, or the conveyance of all Assets. 334

THIS LISTING CONTRACT IS FOR SALE OF BUSINESS ASSETS. CONSULT APPROPRIATE ADVISORS FOR TAX, LICENSING, LIABILITY 335

OR RELATED ISSUES. IF SIGNED, THIS LISTING CAN CREATE A LEGALLY ENFORCEABLE CONTRACT. BY SIGNING BELOW, SELLER 336

ACKNOWLEDGES RECEIPT OF A COPY OF THIS LISTING CONTRACT AND THAT HE/SHE HAS READ ALL 7 PAGES AS WELL AS ANY 337

ADDENDA AND ANY OTHER DOCUMENTS INCORPORATED INTO THE LISTING. 338

All persons signing below on behalf of a Seller Entity represent that they have legal authority to sign for and bind the Entity. 339

NOTE: If signing for an entity use an authorized signature line and print your name and title. 340

____________________________________________________________________________________________________________________ 341

Seller Entity Name (if any) ▲ 342

(x)____________________________________________________________________________________________ _____________________ 343



____________________________________________________________________________________________________________________ 346


(x)____________________________________________________________________________________________ _____________________ 348



(x)____________________________________________________________________________________________ ______________________ 351


(x)____________________________________________________________________________________________ ______________________ 353


(x)____________________________________________________________________________________________ ______________________ 355


(x)____________________________________________________________________________________________ ______________________ 357


_____________________________________________________________________________________________________________________ 359

Firm Name ▲ 360

(x)_____________________________________________________________________________________________ ____________________ 361


43

WB-37 RESIDENTIAL LISTING CONTRACT - EXCLUSIVE RIGHT TO RENT

Do not use as a property management agreement or listing for sale.

Owner gives the Firm the exclusive right to rent the rental unit(s) located at _________________________________________________ 1

____________________________________________________________________________________________________________________2

__________________________________ (street address) in the _____________________________________________________________ of 3

______________________________ County of ___________________________________________, Wisconsin (“Premises”), more particularly 4

described as: _________________________________________________________________________________________________________ 5

___________________________________________________________________________________________ (list unit numbers if applicable) 6

(the “Rental Units”), under the terms of this Listing. Insert additional description at lines 267-272 or in an addendum per line 273, as needed. 7

RENTAL UNITS AND RENTAL TERMS: List the individual Rental Unit(s) and specify proposed rental terms below or at lines 16-19, 267-272, or 8

attach as an addendum per line 273. Consider addressing furniture, appliances, equipment, designated parking and storage areas, utilities and 9

restrictions on tenant's use and occupancy (pets, smoking, etc.). Also see lines 224-226 regarding repairs/build-outs Owner agrees to complete. 10

UNIT NO. RENT SECURITY DEP. MINIMUM TERM CURRENT STATUS OTHER RENTAL TERMS 11

$ $ 12

$ $ 13

$ $ 14

$ $ 15

ADDITIONAL RENTAL TERMS ________________________________________________________________________________________ 16

____________________________________________________________________________________________________________________ 17

____________________________________________________________________________________________________________________ 18

___________________________________________________________________________________________________________________. 19

EXCLUSIONS All persons who may acquire an interest in the Rental Unit(s) as a Protected Tenant under a prior listing contract are excluded 20

from this Listing to the extent of the prior firm’s legal rights, unless otherwise agreed to in writing. Within seven days of the date of this Listing, 21

Owner agrees to deliver to the Firm a written list of all such Protected Tenants. 22

NOTE: If Owner fails to timely deliver this list to the Firm, Owner may be liable to the Firm for damages and costs. 23

The following other tenants______________________________________________________________________________________________ 24

________________________________________________are excluded from this Listing until __________________________ [INSERT DATE]. 25

These other tenants are no longer excluded from this Listing after the specified date unless, on or before the specified date, Owner has either 26

entered into a written Rental Agreement with the tenants or rented the Rental Unit(s) to the tenants. 27

COMMISSION The Firm’s commission shall be _____________________________________________________________________________ 28

____________________________________________________________________________________________________________________ 29

________________________________________________________________________________(indicate how commission will be calculated). 30

■ EARNED: Owner shall pay the Firm's commission, which shall be earned, if, during the term of this Listing: 31

1) Owner enters into a Rental Agreement as to a Rental Unit(s); or 32

2) Owner allows a tenant to occupy and pay rent for a Rental Unit(s). 33

■ DUE AND PAYABLE: Once earned, the Firm’s commission is due and payable in full at the earlier of the execution of the Rental Agreement or 34

the occupancy of the Rental Unit(s), even if the transaction does not close, unless otherwise agreed in writing. 35

COMPENSATION TO OTHERS The Firm offers the following commission to cooperating firms: __________________________ 36

________________________________________________________________________. (Exceptions if any): ___________________________. 37

COOPERATION, ACCESS TO RENTAL UNIT(S) OR PROPOSAL PRESENTATION The parties agree that the firm and its agents will work 38

and cooperate with other firms and agents in marketing the Rental Unit(s), including firms acting as subagents (other firms engaged by the Firm - 39

see lines 113-116) and firms representing tenants. Cooperation includes providing access to the Rental Unit(s) for showing purposes and 40

presenting Rental Agreement proposals from these firms to Owner. Note any firms with whom the Firm shall not cooperate, any firms or agents or 41

tenants who shall not be allowed to attend showings, and the specific terms of proposed Rental Agreements which should not be submitted to 42

Owner: ______________________________________________________________________________________________________________ 43

___________________________________________________________________________________________________________________. 44

CAUTION: Limiting the Firm’s cooperation with other firms may reduce the marketability of the Rental Unit(s). 45

Page 1 of 6 WB-37

Approved by the Wisconsin Real Estate Examining Board 11-1-17 (Optional Use Date) 1-1-18 (Mandatory Use Date)

44

of 6, WB-37

DEFINITIONS As used in this Listing, the following definitions apply: 46



1) Significantly and adversely affecting the value of the Premises; 49


3) Presenting a significant health risk to occupants of the Premises. 51

(b) Information that indicates that a party to a transaction is not able to or does not intend to meet his or her obligations under a contract or 52

agreement made concerning the transaction. 53

■ DEADLINES – DAYS: Deadlines expressed as a number of "days" from an event are calculated by excluding the day the event occurred and by 54

counting subsequent calendar days. 55


■ LEASE: “Lease” means an agreement, whether oral or written, for transfer of possession of real property, or both real and personal property, for 57

a definite period of time. A Lease is for a definite period of time if it has a fixed commencement date and a fixed expiration date or if the 58

commencement and expiration can be ascertained by reference to some event, such as completion of a building. An agreement for transfer of 59

possession of only personal property is not a Lease. 60


Under Wisconsin law, a brokerage firm (hereinafter firm) and its brokers and salespersons (hereinafter agents) owe certain duties to all parties to 62

a transaction: 63



(c) The duty to provide you with accurate information about market conditions within a reasonable time if you request it, unless disclosure of the 66

information is prohibited by law. 67

(d) The duty to disclose to you in writing certain Material Adverse Facts about a property, unless disclosure of the information is prohibited by 68

law. (See lines 170-173.) 69

(e) The duty to protect your confidentiality. Unless the law requires it, the firm and its agents will not disclose your confidential information or the 70

confidential information of other parties. (See lines 121-136.) 71


(g) The duty, when negotiating, to present contract proposals in an objective and unbiased manner and disclose the advantages and 73

disadvantages of the proposals. 74

BECAUSE YOU HAVE ENTERED INTO AN AGENCY AGREEMENT WITH A FIRM, YOU ARE THE FIRM’S CLIENT. A FIRM OWES 75

ADDITIONAL DUTIES TO YOU AS A CLIENT OF THE FIRM: 76

(a) The firm or one of its agents will provide, at your request, information and advice on real estate matters that affect your transaction, unless 77

you release the firm from this duty. 78


(c) The firm and its agents will fulfill the firm’s obligations under the agency agreement and fulfill your lawful requests that are within the scope of 80

the agency agreement. 81


(e) The firm and its agents will not place their interests ahead of your interests. The firm and its agents will not, unless required by law, give 83

information or advice to other parties who are not the firm’s clients, if giving the information or advice is contrary to your interests. 84

If you become involved in a transaction in which another party is also the firm’s client (a "multiple representation relationship"), different duties may 85

apply. 86


■ A multiple representation relationship exists if a firm has an agency agreement with more than one client who is a party in the same transaction. 88

If you and the firm’s other clients in the transaction consent, the firm may provide services through designated agency, which is one type of 89

multiple representation relationship. 90

■ Designated agency means that different agents with the firm will negotiate on behalf of you and the other client or clients in the transaction, and 91

the firm’s duties to you as a client will remain the same. Each agent will provide information, opinions, and advice to the client for whom the 92

agent is negotiating, to assist the client in the negotiations. Each client will be able to receive information, opinions, and advice that will assist 93

the client, even if the information, opinions, or advice gives the client advantages in the negotiations over the firm’s other clients. An agent will 94

not reveal any of your confidential information to another party unless required to do so by law. 95

■ If a designated agency relationship is not authorized by you or other clients in the transaction you may still authorize or reject a different type of 96

multiple representation relationship in which the firm may provide brokerage services to more than one client in a transaction but neither the firm 97

nor any of its agents may assist any client with information, opinions, and advice which may favor the interests of one client over any other 98

client. Under this neutral approach, the same agent may represent more than one client in a transaction. 99

■ If you do not consent to a multiple representation relationship the firm will not be allowed to provide brokerage services to more than one client 100

in the transaction. 101

45

of 6, WB-37


The same firm may represent me and the other party as long as the same agent is not representing us both. (multiple 103

representation relationship with designated agency) 104

The same firm may represent me and the other party, but the firm must remain neutral regardless if one or more 105

different agents are involved. (multiple representation relationship without designated agency) 106

The same firm cannot represent both me and the other party in the same transaction. (I reject multiple representation 107

relationships) 108

NOTE: All clients who are parties to this agency agreement consent to the selection checked above. You may modify this selection by 109

written notice to the firm at any time. Your firm is required to disclose to you in your agency agreement the commission or fees that you 110

may owe to your firm. If you have any questions about the commission or fees that you may owe based upon the type of agency 111

relationship you select with your firm, you should ask your firm before signing the agency agreement. 112

SUBAGENCY 113

Your firm may, with your authorization in the agency agreement, engage other firms (subagent firms) to assist your firm by providing brokerage 114

services for your benefit. A subagent firm and the agents associated with the subagent firm will not put their own interests ahead of your interests. 115

A subagent firm will not, unless required by law, provide advice or opinions to other parties if doing so is contrary to your interests. 116

PLEASE REVIEW THIS INFORMATION CAREFULLY. An agent can answer your questions about brokerage services, but if you need 117

legal advice, tax advice, or a professional home inspection, contact an attorney, tax advisor, or home inspector. 118

This disclosure is required by section 452.135 of the Wisconsin statutes and is for information only. It is a plain language summary of a firm’s 119

duties to you under section 452.133 (2) of the Wisconsin statutes. 120

■ CONFIDENTIALITY NOTICE TO CLIENTS: The Firm and its agents will keep confidential any information given to the Firm or its agents in 121

confidence, or any information obtained by the Firm and its agents that a reasonable person would want to be kept confidential, unless the 122

information must be disclosed by law or you authorize the Firm to disclose particular information. The Firm and its agents shall continue to keep 123

the information confidential after the Firm is no longer providing brokerage services to you. 124


1) Material Adverse Facts, as defined in section 452.01(5g) of the Wisconsin statutes (see lines 170-173). 126

2) Any facts known by the Firm and its agents that contradict any information included in a written inspection report on the property or real 127

estate that is the subject of the transaction. 128

To ensure that the Firm and its agents are aware of what specific information you consider confidential, you may list that information below (see 129

lines 131-133). At a later time, you may also provide the Firm with other information you consider to be confidential. 130

CONFIDENTIAL INFORMATION: ________________________________________________________________________________________ 131

____________________________________________________________________________________________________________________132

___________________________________________________________________________________________________________________. 133

NON-CONFIDENTIAL INFORMATION (The following may be disclosed by the Firm and its agents): ______________________________ 134

____________________________________________________________________________________________________________________ 135

___________________________________________________________________________________________________________________. 136

MARKETING AND OWNER AUTHORIZATION Owner authorizes and the Firm and its agents agree to use reasonable efforts to market and rent 137

the Rental Unit(s). The marketing may include use of a multiple listing service, Internet advertising, a lockbox system on the Rental Unit(s) and: 138

____________________________________________________________________________________________________________________139

____________________________________________________________________________________________. The Firm and its agents may 140

advertise the following incentives, repairs, build-outs, credits, etc. offered by Owner: _____________________________________________ 141

___________________________________________________________________________________________________________________. 142

Owner agrees that the Firm and its agents may market other properties during the term of this Listing. 143

The Firm and its agents may perform the following additional services: COMPLETE AND CHECK AS APPLICABLE 144

Solicit tenant applications 145

Qualify and approve prospective tenants 146

Negotiate Rental Agreements of the Rental Unit(s) 147

Receive on behalf of Owner: application fee(s), earnest money, security deposit(s) STRIKE AS APPLICABLE 148

Execute written Rental Agreements on behalf of Owner 149

Other: _________________________________________________________________________________________________________. 150

Other: _________________________________________________________________________________________________________. 151

NOTE: This is not a property management agreement and this Listing does not obligate the Firm and its agents to perform any property 152

management duties, including maintenance, unless specified at lines 267-272 or in an addendum per line 273. 153

46

of 6, WB-37

COOPERATION WITH MARKETING EFFORTS During the term of this Listing, Owner agrees to: 154

(1) Allow the Firm and its agents to show the Rental Unit(s) at reasonable times, with Owner providing notice to existing tenants as required by 155

law; 156

(2) Allow the Firm and its agents to advertise, including placing signage upon the Premises; and 157

(3) Cooperate with the Firm and its agents in their marketing efforts and immediately provide to the Firm or its agents, in writing, the names of 158

any prospective tenants known to Owner or who contact Owner, and the prospective tenants’ contact information. 159

NOTICE ABOUT SEX OFFENDER REGISTRY You may obtain information about the sex offender registry and persons registered with the 160

registry by contacting the Wisconsin Department of Corrections on the Internet at http://www.doc.wi.gov or by telephone at (608)240-5830. 161

NON-DISCRIMINATION The firm and its agents agree that they will not discriminate against any prospective tenant on account of race, 162

color, sex, sexual orientation as defined in Wis. Stat. § 111.32 (13m), disability, religion, national origin, marital status, lawful source of 163

income, age, ancestry, family status, status as a victim of domestic abuse, sexual assault, or stalking, or in any other unlawful manner. 164

EXTENSION OF LISTING The Listing term is extended for a period of one year as to any Protected Tenant. Upon receipt of a written request 165

from Owner or a firm that has listed the Rental Unit(s), the Firm agrees to promptly deliver to Owner a written list of those tenants known by the 166

Firm and its agents to whom the extension period applies. Should this Listing be terminated by Owner prior to the expiration of the term stated in 167

this Listing, this Listing shall be extended for Protected Tenants, on the same terms, for one year after the Listing is terminated (lines 234-242). 168

DEFINITIONS CONTINUED FROM PAGE 2 169

■ MATERIAL ADVERSE FACT: A "Material Adverse Fact" means an Adverse Fact that a party indicates is of such significance, or that is 170

generally recognized by a competent licensee as being of such significance to a reasonable party, that it affects or would affect the party's 171

decision to enter into a contract or agreement concerning a transaction or affects or would affect the party's decision about the terms of such a 172

contract or agreement. 173

■ PERSON ACTING ON BEHALF OF TENANT: "Person Acting on Behalf of Tenant" shall mean any person joined in interest with the tenant, or 174

otherwise acting on behalf of the tenant, including but not limited to the tenant’s immediate family, agents, employees, directors, managers, members, 175

officers, owners, partners, incorporators and organizers, as well as any and all corporations, partnerships, limited liability companies, trusts or other 176

entities created or controlled by, affiliated with or owned by the tenant, in whole or in part whether created before or after expiration of this Listing. 177

■ PROTECTED TENANT: A tenant who personally, or through any Person Acting on Behalf of Tenant, during the term of the Listing: 178

1) Delivers to Owner or the Firm or its agents a written rental proposal regarding a Rental Unit; 179

2) Views Rental Unit(s) with Owner or negotiates directly with Owner by discussing with Owner the potential terms upon which the tenant 180

might acquire a rental interest in a Rental Unit; or 181

3) Attends an individual showing of a Rental Unit or discusses with agents of the Firm or cooperating firms regarding any potential terms 182

upon which the tenant might acquire a rental interest in a Rental Unit, but only if the firm or its agents deliver the tenant’s name to Owner, in 183

writing, no later than three days after the earlier of expiration or termination (lines 234-242) of the Listing. The requirement in 3), to deliver the 184

tenant’s name to Owner in writing, may be fulfilled as follows: 185

a) If the Listing is effective only as to certain individuals who are identified in the Listing, by the identification of the individuals in the 186

Listing; or, 187

b) If a tenant has requested that the tenant’s identity remain confidential, by delivery of a written notice identifying the firm or agents with 188

whom the tenant negotiated and the date(s) of any individual showings or other negotiations. 189

A Protected Tenant also includes any Person Acting on Behalf of Tenant joined in interest with or otherwise acting on behalf of a Protected 190

Tenant, who acquires an interest in a Rental Unit during the extension of listing period as noted on lines 165-168. A tenant who becomes 191

protected with respect to one Rental Unit included in this Listing shall be a Protected Tenant for all Rental Units included in this Listing. 192

■ RENTAL AGREEMENT: “Rental Agreement” means an oral or written agreement between a landlord and tenant, for the rental or Lease of a 193

specific dwelling unit or premises, in which the landlord and tenant agree on the essential terms of the tenancy, such as rent. Rental Agreement 194

includes a Lease. Rental Agreement does not include an agreement to enter into a Rental Agreement in the future. 195

■ RENTAL UNIT: Unless otherwise stated, “Rental Unit“, means one of the rental units described on lines 1-7. 196

OWNER’S OBLIGATIONS During the term of this Listing, Owner agrees to provide to the Firm and its agents: 197

(1) Copies of all code violation orders and notices, information and reports regarding any lead-based paint on the Premises, and all other records 198

and documents relating to conditions affecting the Premises; and 199

(2) Any Owner-approved Rental Agreement, nonstandard rental provisions, addenda, rules and regulations and related forms and materials 200

required in connection with the renting of the Rental Unit(s). 201

47


of 6, WB-37

OWNER’S WARRANTIES, COVENANTS AND REPRESENTATIONS Owner represents any materials and information the Owner gives to the 202

Firm and its agents are true and complete and that the Rental Agreement and other forms the Owner provides to the Firm and its agents comply 203

with all applicable laws. Owner agrees to hold the Firm and its agents harmless from loss by reason of their use of these materials, forms and 204

information pursuant to the terms of this Listing, including the payment of reasonable attorney’s fees in the event of any suit against the Firm or its 205

agents arising out of the use of these materials, forms and information. 206

Owner warrants and represents to the Firm and its agents that: 207

(1) Owner has no notice or knowledge of any of the following conditions affecting the Premises unless indicated at lines 224-226 or 267-272 208

or in an attached addendum per line 273, or disclosed in the documentation Owner has provided to the Firm and its agents: 209

(a) Uncorrected code violations as described in Wis. Stat. § 704.07(2)(bm); 210

(b) A lack of hot or cold running water; 211

(c) Plumbing or sewage disposal facilities that are not in good operating condition; 212

(d) Heating facilities serving any rental unit that are not in safe operating condition, or are not capable of maintaining a 213

temperature, measured in occupied areas at the approximate center of the room, midway between floor and ceiling, of not less 214

than 67° F (19° C) during all seasons of the year that the rental unit is occupied; 215

(e) A lack of electrical service, or electrical wiring, outlets, fixtures or other components of the electrical system that are not in safe 216

operating condition; 217

(f) Any structural or other conditions in the Premises which constitute a substantial hazard to the health or safety of the tenant(s), 218

or create an unreasonable risk of personal injury as a result of any reasonably foreseeable use of the Premises other than 219

negligent use or abuse of the Premises by tenant(s); 220

(2) Other conditions or occurrences which would significantly reduce the value of the rental interest to a reasonable person with knowledge 221

of the nature and scope of the condition or occurrence. 222

(3) Owner has made no rent concessions or other agreements affecting the Rental Unit(s). 223

(4) Owner agrees to make the following repairs and build-outs to the Premises: _______________________________________________ 224

____________________________________________________________________________________________________________225

______________________________________________________________________. STRIKE AND COMPLETE AS APPLICABLE 226

Exceptions to representations stated in lines 208-223: ___________________________________________________________ 227

____________________________________________________________________________________________________________ 228

___________________________________________________________________________________________________________. 229

Owner agrees to promptly inform the Firm, in writing, of any information that would modify the above representations during the term of this 230

Listing. 231

WARNING: IF OWNER REPRESENTATIONS ARE INCORRECT OR INCOMPLETE, OWNER MAY BE LIABLE FOR DAMAGES AND 232

COSTS. 233

TERMINATION OF LISTING Neither Owner nor the Firm has the legal right to unilaterally terminate this Listing absent a material breach of 234

contract by the other party. Owner understands that the parties to the Listing are Owner and the Firm. Agents for the Firm do not have the 235

authority to enter into a mutual agreement to terminate the Listing, amend the commission amount or shorten the term of this Listing, without the 236

written consent of the agent(s)’ supervising broker. Owner and the Firm agree that any termination of this Listing by either party before the date 237

stated on line 281 shall be effective by the Owner only if stated in writing and delivered to the Firm in accordance with lines 243-262 and effective 238

by the Firm only if stated in writing by the supervising broker and delivered to Owner in accordance with lines 243-262. CAUTION: Early 239

termination of this Listing may be a breach of contract, causing the terminating Party to potentially be liable for damages. The Parties 240

agree that this Listing shall terminate upon an effective change in ownership or control of the Rental Unit(s) so affected, but in no event 241

shall this Listing terminate as to the remainder of the Rental Unit(s). 242

DELIVERY OF DOCUMENTS AND WRITTEN NOTICES Unless otherwise stated in this Listing, delivery of documents and written notices to a 243

Party shall be effective only when accomplished by one of the methods specified at lines 245-262. 244

(1) Personal Delivery: giving the document or written notice personally to the Party, or the Party's recipient for delivery if named at line 246 or 247. 245

Owner’s recipient for delivery (optional): ____________________________________________________________________________________ 246

Firm’s recipient for delivery (optional): _____________________________________________________________________________________ 247


Owner: (__________) ______________________________________ Firm: (___________) __________________________________________ 249

(3) Commercial Delivery: depositing the document or written notice fees prepaid or charged to an account with a commercial delivery 250

service, addressed either to the Party, or to the Party's recipient for delivery if named at line 246 or 247, for delivery to the Party's delivery address 251

at line 255 or 256. 252

(4) U.S. Mail: depositing the document or written notice postage prepaid in the U.S. Mail, addressed either to the Party, or to the Party's 253

recipient for delivery if named at line 246 or 247, for delivery to the Party's delivery address at line 255 or 256. 254

Delivery address for Owner: ____________________________________________________________________________________________ 255

Delivery address for Firm: ______________________________________________________________________________________________ 256

(5) E-Mail: electronically transmitting the document or written notice to the Party’s e-mail address, if given below at line 261 or 262. If this is 257

a consumer transaction where the property being rented or the rental proceeds are used primarily for personal, family or household purposes, 258

each consumer providing an e-mail address below has first consented electronically to the use of electronic documents, e-mail delivery and 259

electronic signatures in the transaction, as required by federal law. 260

E-Mail address for Owner: _____________________________________________________________________________________________ 261

E-Mail address for Firm: _______________________________________________________________________________________________ 262

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TERMINATION FEE PER RENTAL UNIT If this Listing is terminated as to one or more of the Rental Unit(s) because of an effective change in 263

ownership or control of the Rental Unit(s), Owner agrees to pay the Firm a termination fee in the amount of _________________________ 264

____________________________________________________________________________________________________________________265

_________________________________________________________________ (insert dollar amount, formula, etc.) per Rental Unit terminated. 266

ADDITIONAL PROVISIONS ____________________________________________________________________________________________ 267

____________________________________________________________________________________________________________________ 268

____________________________________________________________________________________________________________________269

____________________________________________________________________________________________________________________ 270

____________________________________________________________________________________________________________________271

____________________________________________________________________________________________________________________ 272

ADDENDA The attached ______________________________________________________________________ is/are made part of this Listing. 273

CAUTION: IF SIGNED, THIS LISTING CAN CREATE A LEGALLY ENFORCEABLE CONTRACT. THE FIRM AND ITS AGENTS MAY 274

PROVIDE A GENERAL EXPLANATION OF THE PROVISIONS OF THIS LISTING OR OTHER REAL ESTATE CONTRACTS, BUT ARE 275

PROHIBITED BY LAW FROM GIVING ADVICE OR OPINIONS CONCERNING YOUR LEGAL RIGHTS UNDER THIS LISTING OR ANY 276

OTHER REAL ESTATE CONTRACT. AN ATTORNEY SHOULD BE CONSULTED IF LEGAL ADVICE IS NEEDED. OWNER SHOULD 277

CONSULT OTHER EXPERTS AS APPROPRIATE, FOR EXAMPLE, APPRAISERS, TAX ADVISORS, OR INSPECTORS IF SERVICES 278

BEYOND THE FIRM’S MARKETING SERVICES ARE REQUIRED. 279

TERM OF THE CONTRACT From the ___________________ day of _____________________________, ___________, up to the earlier of 280

midnight of the ________________ day of _____________________________, ___________, or the conveyance of all Rental Units. In the event 281

a commission is earned for a Rental Unit, this Listing (shall) (shall not) STRIKE ONE (“shall” if neither is stricken) terminate for that Rental Unit. 282

BY SIGNING BELOW, OWNER ACKNOWLEDGES RECEIPT OF A COPY OF THIS LISTING CONTRACT AND THAT HE/SHE HAS READ 283

ALL 6 PAGES AS WELL AS ANY ADDENDA AND ANY OTHER DOCUMENTS INCORPORATED INTO THE LISTING. 284

All persons signing below on behalf of an Owner Entity represent that they have legal authority to sign for and bind the Entity. 285

NOTE: If signing for an entity use an authorized signature line and print your name and title. 286

______________________________________________________________________________________________ 287

Owner Entity Name (if any) ▲ 288

(x)____________________________________________________________________________ ______________ 289



______________________________________________________________________________________________ 292

Owner Entity Name (if any) ▲ 293

(x)____________________________________________________________________________ ______________ 294



(x)___________________________________ _________________________________ ______________________ 297

Owner’s Signature ▲ Print Name Here: ▲ Date ▲ 298

(x)___________________________________ _________________________________ ______________________ 299


(x)___________________________________ _________________________________ ______________________ 301


(x)___________________________________ _________________________________ ______________________ 303


_______________________________________________________________________________________________ 305

Firm Name ▲ 306

(x)_________________________________________________________________________________________________ _______________ 307


49

Approved by the Wisconsin Department of Regulation and Licensing 12-1-01 (Optional Use Date)4-1-02 (Mandatory Use Date)

WB-8 TIME SHARE LISTING CONTRACT Page 1 of 4

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SELLER GIVES BROKER THE EXCLUSIVE RIGHT TO SELL THE PROPERTY ON THE TERMS SET FORTH IN THIS LISTING.

COMPLETE DESCRIPTION INCLUDING LISTED INTERVAL(S), UNIT(S), BUILDING(S) AND OTHER NECESSARY DETAILS

with the Time Share instrument (including any amendments or supplements) under Wisconsin Time-share Act, Chapter 707, WisconsinStatutes, together with its undivided interests and any special rights and privileges related to the Unit(s) (''Property'').

UNIT DESCRIPTION:

) .Dollars ( $

in

TERMS: Cash or equivalent at closing or

common surplus and reserves of the Time Share and the following additional items:

The Unit includes eligibility for: Exchange program yes ( ) no ( ); Club membership yes ( ) no ( ); other;

COMPLETE AS APPLICABLE, ADDRESS MATERIAL DETAILS OF EXCHANGE PROGRAM, MEMBERSHIPS AND EXPIRATION DATES AT LINES 202-217.ITEMS NOT INCLUDED IN THE LISTING PRICE:

Upon payment of the purchase price, Seller shall convey the Property by warranty deed (or other

(provided none of the foregoing prohibit present use of the Property).

conveyance as provided herein) free and clear of all liens and encumbrances, except: municipal and zoning ordinances and

Listing, Seller has no notice or knowledge of any conditions affecting the Property or transaction (as defined at lines 112-129) other than

Disclosure Statement. Seller (has provided Broker) (will provide Broker withina) a completed Time Share Disclosure Statement, if Seller is not exempt (see Wis. Stat. §707.41);

These other buyers are no longer excluded from this Listing after the specified date unless, on or before the specified date, Seller haseither accepted an offer from the buyer or sold the Property to the buyer.

, whichever is greater. Seller shall pay Broker's commission, which shall be earned if, during theterm of this Listing:

Seller sells or accepts an offer which creates an enforceable contract for the sale of all or any part of the Property;

matters that are or may become liens against the Property and the status of any pending suits that may result in those liens.33

Time Share, in accordance

TERMS OF LISTING: LIST PRICE:

.PROPERTY INCLUDED IN LIST PRICE: The Time Share Estate's interest in any personal property and fixtures, any amenities and any

CONDITION OF TITLE:

agreements entered under them, recorded easements for the distribution of utility and municipal services, recorded building and userestrictions and covenants, general taxes levied in the year of closing and

TITLE EVIDENCE: Seller shall provide evidence of the condition of Seller's title in the form agreed to in the offer to purchase.SELLER REPRESENTATIONS REGARDING PROPERTY CONDITIONS: Seller represents to Broker that as of the date of this

those identified in the attached real estate condition report dated (see lines 93-99 regarding real estate conditionreports) and . WARNING:IF SELLER REPRESENTATIONS ARE INCORRECT, SELLER MAY BE LIABLE FOR DAMAGES AND COSTS.

TIME SHARE DISCLOSURE STATEMENT: Seller warrants that Seller (is) (is not) STRIKE ONE exempt from providing a Time Sharedays) STRIKE ONE :

b) a copy of Time Share Instrument other than any plats or plans;c) a certificate disclosing all of the following information, 1) any other fees payable by Time Share owners, 2) any judgments or other

MARKETING: Broker agrees to use reasonable efforts to procure a purchaser for the Property, including, but not limited to, thefollowing: . Selleragrees that Broker may market other properties during the term of this Listing. SEE LINES 75-79 AND 219-224 REGARDING SELLER'SDUTY TO NOTIFY BROKER OF ANY POTENTIAL PURCHASER OF WHICH SELLER HAS KNOWLEDGE, SELLER'S DUTY TOCOOPERATE WITH BROKER'S MARKETING EFFORTS AND PROVISIONS REGARDING BROKER'S ROLE AS MARKETING AGENT.

OTHER BROKERS: The Parties agree that Broker will work and cooperate with other brokers in marketing the Property.EXCLUSIONS: All persons whose purchase, exchange or exercise of grant of option would earn a prior listing broker a commission under

a prior listing contract are excluded from this Listing to the extent of the prior broker's legal rights, unless otherwise agreed to in writing. Withinone week of this Listing, Seller agrees to deliver to Broker a list of all persons whose procurement as purchaser would earn another brokera commission under a prior listing contract. CAUTION: Contact previous listing broker if the identity of potential protected buyersfrom previous listings is uncertain. The following other buyers are excluded from this Listing until INSERT DATE :

.

COMMISSION: Broker's commission shall be % of the purchase price or

1)2) Seller grants an option to purchase all or any part of the Property which is subsequently exercised;3) Seller exchanges or enters into a binding exchange agreement on all or any part of the Property;4) A transaction occurs which causes an effective change in ownership or control of all or any part of the Property; or

.

.

Phone: Fax:Produced with ZipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com

Wisconsin REALTORS Association

Wisconsin REALTORS Association 4801 Forest Run Rd Ste 201 Madison, WI 53704(608)241-2047 Nichole Mickelson Untitled

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same terms set forth in this Listing and in the standard provisions of the current WB-27 TIME SHARE OFFER TO PURCHASE,even if Seller does not accept this purchaser's offer. (See lines 137-140 regarding procurement.)Once earned, Broker's commission is due and payable in full at the earlier of closing or the date set for closing, unless otherwiseagreed in writing.

acting for such buyer either negotiated to acquire an interest in the Property or submitted a written offer to purchase during the term ofthis Listing (protected buyer). If the extension is based on negotiation, the extension shall be effective only if the buyer's name is deliveredto Seller, in writing, no later than three days after the expiration of the Listing, unless Seller was directly involved in discussions of thepotential terms upon which buyer might acquire an interest in the Property. The requirement of this Listing to deliver the buyer's namein order to make the extension of the Listing term effective also may be fulfilled by identifying prospective buyers in the Listing (One PartyListing). ''Negotiated'' for the purpose of this paragraph means to discuss the potential terms upon which buyer might acquire aninterest in the Property or to attend an individual showing of the Property. ''Submitted'' for the purposes of this paragraph means thata written offer has been delivered to Seller or Broker. Upon receipt of a written request from Seller or a broker who has listed theProperty, Broker agrees to promptly deliver to Seller a written list of those buyers known by Broker to whom the extension period applies.

EXTENSION OF LISTING:

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5) A purchaser is procured for the Property by Broker, by Seller, or by any other person, at the price and on substantially the

The Listing term is extended for a period of one year as to any buyer who personally or through any person

TERMINATION OF LISTING: Neither Seller nor Broker have the legal right to unilaterally terminate this listing absent a materialbreach of contract by the other Party. Seller understands that the Parties to the listing are Seller and the Broker (firm). Agents(salespersons) for Broker (firm) do not have the authority to enter into a mutual agreement to terminate the Listing, amend thecommission amount or shorten the term of this Listing, without the written consent of the agent's supervising broker.

SELLER COOPERATION WITH MARKETING EFFORTS: Seller agrees to cooperate with Broker in Broker's marketing efforts andto provide Broker with all records, documents and other material in Seller's possession or control which are required in connection with thesale. Seller authorizes Broker to do those acts reasonably necessary to effect a sale and Seller agrees to cooperate fully with these effortswhich may include use of a multiple listing service. Seller shall promptly notify Broker in writing of any potential purchasers with whomSeller negotiates during the term of this Listing and shall promptly refer all persons making inquiries concerning the Property to Broker.

ATTORNEY FEES:PREVAILING PARTY SHALL HAVE THE RIGHT TO RECOVER REASONABLE ATTORNEY FEES.

SHOULD LITIGATION ARISE BETWEEN THE PARTIES IN CONNECTION WITH THIS LISTING, THE

FAIR HOUSING: SELLER AND BROKER AGREE THAT THEY WILL NOT DISCRIMINATE AGAINST ANY PROSPECTIVEPURCHASER ON ACCOUNT OF RACE, COLOR, SEX, SEXUAL ORIENTATION AS DEFINED IN WISCONSIN STATUTES, SECTION111.32 (13M), DISABILITY, RELIGION, NATIONAL ORIGIN, MARITAL STATUS, LAWFUL SOURCE OF INCOME, AGE, ANCESTRY,FAMILIAL STATUS, OR IN ANY OTHER UNLAWFUL MANNER.

EARNEST MONEY: If Broker holds trust funds in connection with the transaction, they shall be retained by Broker in Broker'strust account. Broker may refuse to hold earnest money or other trust funds. Should Broker hold the earnest money, Sellerauthorizes Broker to disburse the earnest money pursuant to the terms of the offer to purchase, option or exchange agreement usedin the transaction. If the transaction fails to close and the earnest money is disbursed to Seller, then upon disbursement to Sellerthe earnest money shall be paid first to reimburse Broker for cash advances made by Broker on behalf of Seller and one half of thebalance, but not in excess of the agreed commission, shall be paid to Broker as Broker's full commission in connection with saidpurchase transaction and the balance shall belong to Seller. This payment to Broker shall not terminate this Listing.

REAL ESTATE CONDITION REPORT: Seller agrees to complete the real estate condition report provided by Broker to the bestof Seller's ability. Seller acknowledges that failure to deliver a complete and accurate report to Buyer within ten days after acceptanceof an offer to purchase may provide Buyer with rights to rescind that offer to purchase under Wis. Stat. Chapter 709. Wis. Stat.§709.035 requires Seller to deliver an amended report to buyers should Seller learn of any defects after completion of the report butbefore acceptance of the buyer's offer to purchase. Seller agrees to promptly amend the report to include any defects (as definedin the report) which Seller learns of after completion of the report. Seller authorizes Broker to distribute the report to all interestedparties and their agents and to disclose all adverse material facts as required by law.

DEFINITIONS:ADVERSE FACT: An ''adverse fact'' means any of the following:

(a) A condition or occurrence that is generally recognized by a competent licensee as doing any of the following:1. Significantly and adversely affecting the value of the Property.2. Significantly reducing the structural integrity of improvements to real estate.3. Presenting a significant health risk to occupants of the Property.

(b) Information that indicates that a party to a transaction is not able to or does not intend to meet his or her obligations under acontract or agreement made concerning the transaction.MATERIAL ADVERSE FACT: generally recognized by a competent licensee as being of such significance to a reasonable party, that it affects or would affect the

terms of such a contract or agreement.

A ''condition affecting the Property or transaction'' is defined as follows:planned or commenced public improvements which may result in special assessments or otherwise materially affect the Property

A ''material adverse fact'' means an adverse fact that a party indicates is of such significance, or that is

CONDITIONS AFFECTING THE PROPERTY OR TRANSACTION:

(a)or the present use of the Property;

(b) completed or pending reassessment of the Property for property tax purposes;(c) government agency or court order requiring repair, alteration or correction of any existing condition;(d) violation of applicable state or local smoke detector laws; NOTE: State law requires operating smoke detectors on all levels

of all residential properties.

party's decision to enter into a contract or agreement concerning a transaction or affects or would affect the party's decision about the

(e) any portion of the Property being in a 100 year floodplain, a wetland or a shoreland zoning area under local, state or federal laws;(f) structural inadequacies which if not repaired will significantly shorten the expected normal life of the Property;(g) mechanical systems inadequate for the present use of the Property;(h) conditions constituting a significant health or safety hazard for occupants of Property; NOTE: Specific federal lead paint

disclosure requirements must be complied with in the sale of most residential properties built before 1978.Produced with ZipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com Untitled

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AGENCY DISCLOSURE PROVISIONS:

regarding identification of confidential and non-confidential information at lines 198-201. If a multiple representation relationship isconsented to and does occur, both parties will be Broker's clients.

(i) underground or aboveground storage tanks on the Property for storage of flammable or combustible liquids including but not limitedto gasoline and heating oil which are currently or which were previously located on the Property; NOTE: Wis. Adm. Code, ChapterComm 10 contains registration and operation rules for such underground and aboveground storage tanks.

(j) other conditions or occurrences which would significantly reduce the value of the Property to a reasonable person with knowledgeof the nature and scope of the condition or occurrence.

A ''Fixture" is defined as an item of property which is physically attached to or so closely associated with land andimprovements as to be treated as part of the real estate, including, without limitation, physically attached items not easily removablewithout damage to the premises, items specifically adapted to the premises, and items customarily treated as fixtures.

Unless otherwise stated, delivery of documents or written notices related to this Listing may be accomplished by: 1) givingthe document or written notice personally to the Party; 2) depositing the document or written notice postage or fees prepaid or charged

FIXTURES:

DELIVERY:

to an account in the U.S. Mail or a commercial delivery system, addressed to the Party, at the Party's address (See lines 235, 239.);3) electronically transmitting the document or written notice to the Party's fax number (See lines 235, 239.).PROCURE: A purchaser is procured when a valid and binding contract of sale is entered into between the Seller and the purchaseror when a ready, willing and able purchaser submits a written offer at the price and on substantially the terms specified in this Listing.A purchaser is ready, willing and able when the purchaser submitting the written offer has the ability to complete the purchaser'sobligations under the written offer. (See lines 56-60.)

AGENCY DISCLOSURE AND CONSENT TO MULTIPLE REPRESENTATION: Wisconsin Statute § 452.135(2) requires Broker todisclose that Seller is Broker's client. Broker's duties to Seller can be found at lines 164-173. Broker's duties to all parties can befound at lines 147-163. The confidentiality rights of all parties can be found at lines 187-193. See lines 194-197 for information

DUTIES OWED TO ALL PARTIES: Wisconsin Statute § 452.133(1) states that in providing brokerage services to a party to atransaction (including both clients and customers), a broker shall do all of the following:(a) Provide brokerage services to all parties to the transaction honestly, fairly and in good faith.(b) Diligently exercise reasonable skill and care in providing brokerage services to all parties.(c) Disclose to each party all material adverse facts that the broker knows and that the party does not know or cannot discover

through reasonably vigilant observation, unless the disclosure of a material adverse fact is prohibited by law.(d) Keep confidential any information given to the broker in confidence, or any information obtained by the broker that he or she

knows a reasonable party would want to be kept confidential, unless the information must be disclosed under par. (c) or Wis.Stat. § 452.23 (information contradicting third party inspection or investigation reports), or is otherwise required by law to bedisclosed or the party whose interests may be adversely affected by the disclosure specifically authorizes the disclosure ofparticular confidential information. A broker shall continue to keep the information confidential after the transaction is completeand after the broker is no longer providing brokerage services to the party.

(e) Provide accurate information about market conditions that affect a transaction, to any party who requests the information, withina reasonable time of the party's request, unless disclosure of the information is prohibited by law.

(f) Account for all property of the parties coming into the possession of a broker within a reasonable time of receipt.(g) When negotiating on behalf of a party, present contract proposals in an objective and unbiased manner and disclose the

advantages and disadvantages of the proposals.DUTIES OWED TO CLIENTS ONLY:

Wisconsin Statute § 452.133(2) states that in addition to his or her duties under lines 147-163, a broker providing brokerage servicesto his or her client shall do all of the following:(a) Loyally represent the client's interests by placing the client's interests ahead of the interests of any other party, unless loyalty to a client

violates the broker's duties under lines 147-163 or Wis. Stat. § 452.137(2) (duties to all clients in multiple representation situations).(b) Disclose to the client all information known by the broker that is material to the transaction and that is not known by the client or

discoverable by the client through reasonably vigilant observation, except for confidential information (see lines 153-158) andother information, the disclosure of which is prohibited by law.

(c) Fulfill any obligation required by the agency agreement, and any order of the client that is within the scope of the agencyagreement, that are not inconsistent with another duty that the broker has under Wis. Stat. Chapter 452 or any other law.

MULTIPLE REPRESENTATION (DUAL AGENCY): Wisconsin Statute § 452.137 states that Broker may represent both parties in thesame transaction only with the written consent of both parties. A multiple representation relationship would exist if Broker was the buyer'sagent for a buyer seeking to acquire an interest in the Property. In a multiple representation relationship, Broker will provide the marketingand other services agreed upon in this Listing. Broker will continue to provide information and advice to both parties, but is not allowedto place the interests of either party ahead of the other in negotiations. During negotiations, Broker will prepare approved forms toaccomplish the intent of the party making the proposal. Broker will present the proposal in an objective and unbiased manner, disclosingthe proposal's advantages and disadvantages. Broker shall not disclose confidential information of either party unless required by law.(NOTE: Wisconsin Administrative Code section RL 24.07 requires disclosure of adverse material facts to all interestedparties). If Seller consents to the multiple representation relationship, Seller is indicating that Seller understands Broker's duties to allparties to a transaction (see lines 147-163) and Broker's duties to a client (see lines 164-173) and that if a multiple representationrelationship arises, Broker will owe the same duties to buyer that Broker owes to Seller. (See lines 164-173.)

Produced with ZipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com Untitled

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SELLER (DOES) (DOES NOT)

ANY FACTS KNOWN BY THE BROKER THAT CONTRADICT ANY INFORMATION INCLUDED IN A WRITTEN INSPECTIONREPORT ON THE PROPERTY OR REAL ESTATE THAT IS THE SUBJECT OF THE TRANSACTION.

MATERIAL ADVERSE FACTS AS DEFINED IN § 452.01(5g) OF THE WISCONSIN STATUTES. (See lines 108-111)

.TO ENSURE THAT THE BROKER IS AWARE OF WHAT SPECIFIC INFORMATION YOU CONSIDER CONFIDENTIAL, YOU MAY LIST THATINFORMATION AT LINES 198-199. AT A LATER TIME, YOU ALSO MAY PROVIDE THE BROKER WITH OTHER WRITTEN NOTIFICATIONOF WHAT INFORMATION YOU CONSIDER TO BE CONFIDENTIAL. YOU MAY IDENTIFY INFORMATION WHICH MIGHT OTHERWISEBE CONSIDERED CONFIDENTIAL (SUCH AS SELLER'S MOTIVATION TO SELL) AS NON-CONFIDENTIAL AT LINES 200-201.

ADDENDA: The attached is/are made part of this Listing.CAUTION: IF SIGNED, THIS LISTING CAN CREATE A LEGALLY ENFORCEABLE CONTRACT. BROKERS MAY PROVIDE AGENERAL EXPLANATION OF THE PROVISIONS OF THIS LISTING OR OTHER REAL ESTATE CONTRACTS, BUT AREPROHIBITED BY LAW FROM GIVING ADVICE OR OPINIONS CONCERNING YOUR LEGAL RIGHTS UNDER THIS LISTING OR

Dated this .

(X)231Seller's Signature Print Name Here: Social Security No. or FEIN (optional) Date232

(X)233234 Seller's Signature Print Name Here: Social Security No. or FEIN (optional) Date

STRIKE ONE CONSENT TO A MULTIPLE REPRESENTATION RELATIONSHIP (DUAL AGENCY).CONFIDENTIALITY NOTICE:

A BROKER IS REQUIRED TO MAINTAIN THE CONFIDENTIALITY OF ALL INFORMATION GIVEN TO THE BROKER IN CONFIDENCE

1)

AND OF ALL INFORMATION OBTAINED BY THE BROKER THAT HE OR SHE KNOWS A REASONABLE PARTY WOULD WANT TOBE KEPT CONFIDENTIAL, UNLESS THE INFORMATION IS REQUIRED TO BE DISCLOSED BY LAW. THE FOLLOWINGINFORMATION IS REQUIRED TO BE DISCLOSED BY LAW:

2)

CONFIDENTIAL INFORMATION:

NON-CONFIDENTIAL INFORMATION:

ADDITIONAL PROVISIONS:

ANY OTHER REAL ESTATE CONTRACT. AN ATTORNEY SHOULD BE CONSULTED IF LEGAL ADVICE IS NEEDED. SELLERSHOULD CONSULT OTHER EXPERTS AS APPROPRIATE, FOR EXAMPLE, APPRAISERS, TAX ADVISORS, OR HOMEINSPECTORS IF SERVICES BEYOND BROKER'S MARKETING SERVICES ARE REQUIRED.224

TERM OF THE CONTRACT: FROM THE225 DAY OF , , UP TO ANDINCLUDING MIDNIGHT OF THE226 DAY OF , .NOTE: A SALE, OPTION, EXCHANGE OR PROCUREMENT OF A PURCHASER FOR A PORTION OF THE PROPERTY DOES NOT227

TERMINATE THE LISTING AS TO ANY REMAINING PROPERTY INCLUDED IN THE LIST PRICE, INCLUDING PERSONAL228

PROPERTY. SEE LINES 11-16 AND 225-226.229

day of ,

235Seller's Address Phone # Fax #236

(X)237238 Agent for Broker (Print Name) Broker/Firm Name

239Broker/Firm Address Phone # Fax #240

Produced with ZipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com

The Agency Disclosure Provisions at lines 141-201 have been replaced by the Broker Disclosure to Clients formand are deleted.

Untitled

53

WISCONSIN REALTORS® ASSOCIATION

4801 Forest Run RoadMadison, Wisconsin 53704

BROKER DISCLOSURE TO CLIENTS

Page 1 of 2

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NOTE: THE DISCLOSURES CONCERNING AGENCY RELATIONSHIPS THAT A BROKER MUST GIVE TO A CLIENT WERE RE-VISED BY 2005 WIS. ACT 87. THIS DISCLOSURE DOCUMENT REFLECTS THE LAW IN EFFECT BEGINNING 7-1-06.UNDER WISCONSIN LAW, A BROKER OWES CERTAIN DUTIES TO ALL PARTIES TO A TRANSACTION:

The duty to provide brokerage services to you fairly and honestly.

The duty to exercise reasonable skill and care in providing brokerage services to you.

The duty to provide you with accurate information about market conditions within a reasonable time if you request it, unless

disclosure of the information is prohibited by law.

The duty to disclose to you in writing certain material adverse facts about a property, unless disclosure of the information is

prohibited by law. (See Lines 28-37)

The duty to protect your confidentiality. Unless the law requires it, the broker will not disclose your confidential information or the

confidential information of other parties. (See Lines 71-89)

The duty to safeguard trust funds and other property the broker holds.

The duty, when negotiating, to present contract proposals in an objective and unbiased manner and disclose the advantages and

disadvantages of the proposals.

BECAUSE YOU HAVE ENTERED INTO AN AGENCY AGREEMENT WITH A BROKER, YOU ARE THE BROKER'S CLIENT. A

BROKER OWES ADDITIONAL DUTIES TO A CLIENT.

The broker will provide, at your request, information and advice on real estate matters that affect your transaction, unless you

release the broker from this duty.

The broker must provide you with all material facts affecting the transaction, not just adverse facts.

The broker will fulfill the broker's obligations under the agency agreement and fulfill your lawful requests that are within the scope

of the agency agreement.

The broker will negotiate for you, unless you release the broker from this duty.

The broker will not place the broker's interests ahead of your interests. The broker will not, unless required by law, give

information or advice to other parties who are not the broker's clients, if giving the information or advice is contrary to your

interests.

If you become involved in a transaction in which another party is also the broker's client (a "multiple representation relationship"),

different duties may apply.

DEFINITION OF MATERIAL ADVERSE FACTS

A "material adverse fact" is defined in Wis. Stat. § 452.01(5g) as an adverse fact that a party indicates is of such significance, or

that is generally recognized by a competent licensee as being of such significance to a reasonable party, that it affects or would

affect the party's decision to enter into a contract or agreement concerning a transaction or affects or would affect the party's

decision about the terms of such a contract or agreement.

An "adverse fact" is defined in Wis. Stat. § 452.01(1e) as a condition or occurrence that a competent licensee generally

recognizes will significantly and adversely affect the value of the property, significantly reduce the structural integrity of

improvements to real estate, or present a significant health risk to occupants of the property; or information that indicates that a party

to a transaction is not able to or does not intend to meet his or her obligations under a contract or agreement made concerning the

transaction.

MULTIPLE REPRESENTATION RELATIONSHIPS AND DESIGNATED AGENCY

A multiple representation relationship exists if a broker has an agency agreement with more than one client who is a party in the

same transaction. In a multiple representation relationship, if all of the broker's clients in the transaction consent, the broker may

provide services to the clients through designated agency.

Designated agency means that different salespersons employed by the broker will negotiate on behalf of you and the other

client or clients in the transaction, and the broker's duties will remain the same. Each salesperson will provide information, opinions,

and advice to the client for whom the salesperson is negotiating, to assist the client in the negotiations. Each client will be able to

receive information, opinions, and advice that will assist the client, even if the information, opinions, or advice gives the client

advantages in the negotiations over the broker's other clients. A salesperson will not reveal any of your confidential information to

another party unless required to do so by law.

If a designated agency relationship is not in effect you may authorize or reject a multiple representation relationship. If you

authorize a multiple representation relationship the broker may provide brokerage services to more than one client in a transaction

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but neither the broker nor any of the broker's salespersons may assist any client with information, opinions, and advice which may

favor the interests of one client over any other client. If you do not consent to a multiple representation relationship the broker will not

be allowed to provide brokerage services to more than one client in the transaction.

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Wisconsin REALTORS Association 4801 Forest Run Rd Ste 201 Madison, WI 53704(608)241-2047 Nichole Mickelson Untitled

Wisconsin REALTORS Association

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INITIAL ONLY ONE OF THE THREE LINES BELOW:

SUBAGENCY

I consent to multiple representation relationships with designated agency.

I consent to multiple representation relationships, but I do not consent to designated agency.

I reject multiple representation relationships.

NOTE: YOU MAY WITHDRAW YOUR CONSENT TO DESIGNATED AGENCY OR TO MULTIPLE REPRESENTATION

RELATIONSHIPS BY WRITTEN NOTICE TO THE BROKER AT ANY TIME. YOUR BROKER IS REQUIRED TO DISCLOSE TO

YOU IN YOUR AGENCY AGREEMENT THE COMMISSION OR FEES THAT YOU MAY OWE TO YOUR BROKER. IF YOU HAVE

ANY QUESTIONS ABOUT THE COMMISSION OR FEES THAT YOU MAY OWE BASED UPON THE TYPE OF AGENCY

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RELATIONSHIP YOU SELECT WITH YOUR BROKER YOU SHOULD ASK YOUR BROKER BEFORE SIGNING THE AGENCY

AGREEMENT.

The broker may, with your authorization in the agency agreement, engage other brokers who assist your broker by providing

brokerage services for your benefit. A subagent will not put the subagent's own interests ahead of your interests.

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66 A subagent will not, unless required by law, provide advice or opinions to other parties if doing so is contrary to your interests.

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Please review this information carefully. A broker or salesperson can answer your questions about brokerage services, but if you

need legal advice, tax advice, or a professional home inspection, contact an attorney, tax advisor, or home inspector.

This disclosure is required by section 452.135 of the Wisconsin statutes and is for information only. It is a plain-language

summary of a broker's duties to you under section 452.133 of the Wisconsin statutes.

71 CONFIDENTIALITY NOTICE TO CLIENTS

72 BROKER WILL KEEP CONFIDENTIAL ANY INFORMATION GIVEN TO BROKER IN CONFIDENCE, OR ANY INFORMATION

73 OBTAINED BY BROKER THAT HE OR SHE KNOWS A REASONABLE PERSON WOULD WANT TO BE KEPT CONFIDENTIAL,

74 UNLESS THE INFORMATION MUST BE DISCLOSED BY LAW OR YOU AUTHORIZE THE BROKER TO DISCLOSE PARTICULAR

75 INFORMATION. A BROKER SHALL CONTINUE TO KEEP THE INFORMATION CONFIDENTIAL AFTER THE BROKER IS NO

76 LONGER PROVIDING BROKERAGE SERVICES TO YOU.

77 THE FOLLOWING INFORMATION IS REQUIRED TO BE DISCLOSED BY LAW:

78 1. MATERIAL ADVERSE FACTS, AS DEFINED IN SECTION 452.01 (5g) OF THE WISCONSIN STATUTES (SEE LINES 28-37).

79 2. ANY FACTS KNOWN BY THE BROKER THAT CONTRADICT ANY INFORMATION INCLUDED IN A WRITTEN INSPECTION

80 REPORT ON THE PROPERTY OR REAL ESTATE THAT IS THE SUBJECT OF THE TRANSACTION.

81 TO ENSURE THAT THE BROKER IS AWARE OF WHAT SPECIFIC INFORMATION YOU CONSIDER CONFIDENTIAL, YOU MAY

82 LIST THAT INFORMATION BELOW (SEE LINES 84-86). AT A LATER TIME, YOU MAY ALSO PROVIDE THE BROKER WITH

83 OTHER INFORMATION YOU CONSIDER TO BE CONFIDENTIAL.

84 CONFIDENTIAL INFORMATION:

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87 NON-CONFIDENTIAL INFORMATION (The following may be disclosed by Broker):

90 CONSENT TO TELEPHONE SOLICITATION

91 I/We agree that the Broker and any affiliated settlement service providers (for example, a mortgage company or title company) may

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92 call our/my home or cell phone numbers regarding issues, goods and services related to the real estate transaction until I/we

93 withdraw this consent in writing.

94 List Home/Cell Numbers:

95 READING/UNDERSTANDING: If Client's agency agreement is for brokerage services related to real estate primarily intended

96 for use as a residential property containing one to 4 dwelling units, Wisconsin law requires broker to request the client's

97 signed acknowledgment that the client has received a copy of the written disclosure statement.

98 (X)

Client Signature Date99

(X)

Client Signature Date

100 No representation is made as to the legality, appropriateness or adequacy of any provision in a specific transaction. The italicized

101 words on line 54 have been added to the statutory language for clarification.

Copyright 2007 by Wisconsin REALTORS® Association Drafted by Attorney Debra Peterson Conrad

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WITHOUT NOTICE. - Wisconsin · 16 REB 111 – Keith E. Garot MOTION: Jerry Lyons moved, seconded by...

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