452.09 Application for license, contents.

567 words·~3 min read·/wi/chapter-452/452-09-2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Form of application. Any person desiring to act as a broker or salesperson shall submit to the board an application for a license. The application shall be in such form as the board prescribes and shall include the following:

(a)The kind of license desired.

(b)The name and address of the applicant. If the applicant is a business entity, the application shall also include the name and address of each business representative and the license number of each business representative licensed as a broker under this chapter.

(d)The business or occupation engaged in by the applicant, or if a business entity, by each business representative, for a period of at least 2 years immediately preceding the date of the application.

(e)Any other information that the board may reasonably require to enable it to determine the competency of each applicant, including each business representative of the business entity, to transact the business of a broker or salesperson in a manner that safeguards the interests of the public.

(2)Educational requirements for applicants for licenses.

(a)Except as provided in a reciprocal agreement under s. 452.05

(3), each applicant for a salesperson’s license shall submit to the board evidence satisfactory to the board of successful completion of educational programs approved for this purpose under s. 452.05

(c). The board may waive the requirement under this paragraph upon proof that the applicant has received 10 academic credits in real estate or real estate related law courses from an accredited institution of higher education.

(c)Except as provided in par.

(d)or a reciprocal agreement under s. 452.05

(3), each applicant for a broker’s license to be issued to an individual shall do all of the following:

1. Satisfy or obtain a waiver of the requirement under par.

(a)or submit proof of licensure as a salesperson under this chapter.

2. Submit to the board evidence satisfactory to the board of successful completion of educational programs in business management approved for this purpose under s. 452.05

(c). No educational programs applied to satisfy the requirement under subd. 1. may be applied to satisfy the requirement under this subdivision.

(d)The board may waive the requirements under par.

(c)upon proof that the applicant has received 20 academic credits in real estate or real estate related law courses from an accredited institution of higher education or that the applicant is licensed to practice law in this state.

(3)Competency of applicant.

(a)In determining competency, the board shall require proof that the applicant for a broker’s or salesperson’s license has a fair knowledge of the English language; a fair understanding of the general purposes and general legal effect of deeds, mortgages, land contracts of sale, leases, bills of sale, and conditional sales contracts; and a general and fair understanding of the obligations between principal and agent, as well as of this chapter. The board shall deny a license to an applicant receiving a failing grade, as established by rules of the board, on any examination given under this section, but any applicant may review his or her examination results in a manner established by rules of the board.

(b)The board shall determine competency under par.

(a)by means of only an oral examination for any applicant who is unable to write because of a physical handicap.