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April Lunch and Learn – Out of State License Law – Now in Effect
April 11, 2016 @ 11:30 am - 1:30 pm
Over the past few months, we have received calls from local and out of state brokers regarding the OSL legislation that went into effect January 1, 2015. The intent of the new law is to keep the Wisconsin broker at the helm of the transaction while offering flexibility as to process to the Wisconsin listing broker.
A newly created Wisconsin Statute § 452.137 affords the opportunity for Wisconsin listing companies to either enter into a referral arrangement with the OSL or enter into a cooperative agreement with the OSL.
At the session you will learn:
- Background on how the Out of State License law came to be
- How the OSL may affect your current business transactions
- How the OSL law impacts how you interact with brokers from out of State
- How to communicate the regulations from the Out-of-State license law to current and potential clients
- How Wisconsin’s law differs from other state’s Out-of-State License laws
- What documentation is needed as a Wisconsin broker to ensure that the law is being followed
- Who the governing body that will cite violators of the Out-of-State License law is
- Consequences for brokers who violate the Out-of-State License law
- Who is responsible for paying penalties if found in violation of the Law
About the Speaker: Attorney Michael Tobin is a 1980 graduate of Marquette University Law School. He has a general practice law firm in Wauwatosa with an emphasis on all areas of real estate law. He is affiliated with Fidelity National Title and closes real estate transactions for lenders, buyers, sellers and developers. Mike is also a licensed real estate broker and has taught pre-licensing and continuing education classes for over 25 years. In 2009, he was named the WRA instructor of the year.
Register HERE