Out of State License (OSL) Law Changes for Commercial Progresses in Madison

Late in 2016, CARW members cited that the current out-of-state (OSL) law created a situation where a Wisconsin firm (ISL) could be argued as practicing outside of the permitted Wisconsin laws because the law only allows cooperation when the ISL has the property listed. CARW members pointed out that it is common to have OSLs reach out to ISLs who do not have a property listed because the OSLs wish to cooperate with someone other than the listing firm to ensure the OSL’s buyer/tenant clients have assistance of an expert in that specific market area.

Therefore, WRA and CARW collaborated to create a new voluntary commercial option for ISLs who do not have a property listed but wish to cooperate with OSLs working with commercial buyers and tenants. This new option was approved in May by the WRA’s public policy committee.  Formal legislation has been created and is now working its way through the State of Wisconsin legislature to be signed into law.

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