Under Wisconsin Administrative Code REEB 24, which of the following is NOT a recognized type of agency relationship for Wisconsin real estate licensees?
Correct Answer
C) Non-agency transactional brokerage
Non-agency transactional brokerage is NOT a recognized agency relationship type under Wisconsin Administrative Code REEB 24. Wisconsin's agency framework recognizes seller agency, buyer agency, and multiple representation (with or without designated agency). Wisconsin does not have a statutory 'transactional brokerage' or 'non-agency' category like some other states. Licensees in Wisconsin must operate within one of the recognized agency structures or treat a party as a customer with the associated limited duties.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
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