Wisconsin Real Estate Examining Board Updates

By Thomas Richie

   My name is Tom Richie, and I am the Chairperson of the Real Estate Examining Board (REEB). I am also a real estate broker in Wisconsin actively working in the real estate field, just like many of you. The REEB has decided to publish a regularly scheduled newsletter available by free electronic subscription.

The purpose of the newsletter is to:

• On occasion, provide a brief message from the board in the Chair’s Corner.
• Provide better communication to licensees and the general public.
• Provide more awareness to changes and/or changes that are being considered in such areas as: administrative rules, laws, forms, discipline, and any other issues that have the potential to affect the real estate industry.
• Publish the most recent discipline cases against individual Wisconsin licensees and business entities.

   In our first Newsletter, I will review the role and function of the REEB to help licensees better understand the purpose of the board, and how decisions that the board makes could affect them. When I first obtained my real estate license, I was confused and lacked a thorough understanding of the role and purpose of the many different real estate related entities including the Department of Safety and Professional Services (DSPS), the Real Estate Examining Board (REEB), and trade associations, such as the REALTORS® associations.

   It is important to remember that the DSPS and the REEB are affiliated with state government and are the only entities that can issue and regulate salesperson, broker and business entity licenses required by law to provide brokerage services in Wisconsin real estate. 

   The Department of Safety and Professional Services (DSPS) is responsible for ensuring the safe and competent practice of licensed professionals in Wisconsin. The DSPS licenses and regulates more than 200 different types of credentials in the state. The agency also provides centralized administrative services to nearly 100 boards, councils, and advisory committees. The boards, councils, and advisory committees have varying levels of responsibility and professional oversight based on statutory provisions.

   Real Estate Examining Board (REEB): Wis. Stat. § 15.405 (11m) creates the REEB within the Department of Safety and Professional Services. The REEB shall consist of 7 members appointed to staggered 4-year terms. Five of the members shall be real estate brokers or salespersons licensed in this state. Two members shall be public members. No member may serve more than 2 terms. You can learn more about the REEB at:

https://dsps.wi.gov/Pages/BoardsCouncils/RealEstate/Default.aspx.

   The full scope of duties and powers of the (REEB) can be found in Wis. Stat. § 452.05. The following is a partial list of duties and responsibilities of the (REEB):

• Shall advise the secretary on matters relating to real estate practice.
• Grant and issue licenses to individuals and business entities to act as brokers and to individuals to act as salespersons.
• Approve forms for use in real estate practice (better known as WB forms).
• Promulgate rules establishing criteria for the approval of educational programs and training sessions.
• Under statutory authority promulgate rules relating to the practice of real estate.
• Establish criteria for the approval of continuing educational programs and courses in real estate related subjects required for renewal.
• Approve continuing educational programs and courses.
• Approve or deny the renewal licenses of broker's or salesperson's license.
• Authority to revoke licenses, assess forfeitures, and/or assess other disciplinary actions for licensee violations of state laws or administrative rules.