Under Wisconsin Administrative Code REEB 24, which of the following information is a Wisconsin licensee required to disclose to ALL parties in a transaction — regardless of whether the party is a client or a customer?
Correct Answer
A) Any agency relationship the licensee has with other parties in the transaction
Under Wisconsin Administrative Code REEB 24, a licensee must disclose their agency relationships to all parties in a transaction, regardless of whether those parties are clients or customers. This transparency requirement ensures that all parties understand who the licensee represents. This duty applies universally and is separate from the confidentiality duties owed to clients.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
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.
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