Section 16.06. How to use approved forms.

 

(1)  When a licensee reproduces or arranges for printing a contractual form prepared and approved by the board pursuant to s. 452.05 (1) (b) , Stats., the licensee shall comply with all of the following:

(a) Assure that the numbering of lines, line contents, and the lines appearing on each page are identical to those on the board-approved forms.

(b) Not reproduce the form in such a manner that optional provisions are omitted and blank lines are filled in without any indication of where the optional provisions and blank lines occur on the board-approved form.

(c) Shall indicate that the form is reproduced by the licensee's firm, stating its address and telephone number at an appropriate place on the form.

(d) May not add additional blank lines or add additional lines containing textual content, or alter the format of the form in any other manner. "Alter the format" does not include modifying margins or font size consistent with par. (a) . To add textual content or additional provisions, a licensee shall only fill in blank lines provided for that purpose on a form or add addenda containing additional or altered provisions as provided in subs. (4) and (5) .

(e) Retain the board's approval statement and date in the upper left corner exactly as these appear on the board-approved form.

(f) Assure that the formatting of the form is substantially identical to that on the board-approved form.

(2)  A licensee who reproduces or arranges for printing a form under s. REEB 16.03 (1) (a) or (b) may not modify the form in any way.

(3)  A licensee may cross out provisions on approved forms to reflect the agreement of a party to a transaction, provided that the deleted provisions remain legible.

(4)  Except as provided in sub. (5) , a licensee may use a pre-prepared addendum form and attach it to an approved form under all of the following circumstances:

(a) The addendum has been prepared by the broker or an attorney who is identified on the addendum.

(b) The addendum is incorporated by reference into the approved form and the approved form and the addendum are properly related to one another.

(c) The addendum relates to the blanks on an approved form; or alters or supplants optional provisions within an approved form.

(5)  A licensee may use a pre-prepared addendum which supplants or alters the printed provisions of an approved form only if the following conditions are met:

(a) The addendum has been drafted by an attorney who is identified on the addendum.

(b) There are no optional or multiple choice provisions in the addendum.

(c) There are no blank lines or fill-in provisions in the addendum except for spaces for the signatures of the parties and those items required under par. (d) .

(d) The addendum is incorporated by reference into the approved form and the approved form and the addendum are properly related to one another.

(6)  A licensee may alter an approved exclusive right to sell listing contract to create an exclusive agency listing, an open listing, or a one-party listing.

(7)  A licensee shall use the latest approved version of a board-approved form.

(8)  A licensee shall use approved forms and prepare addenda in such a manner as to adequately accomplish the contractual intent of the person for whom the licensee uses the forms and prepares the addenda.

(9)  A licensee may alter an approved buyer agency/tenant representation agreement in order to create an exclusive right to negotiate, exclusive right to locate, or an exclusive right to locate and negotiate buyer agency/tenant representation agreement.

History: Cr. Register, March, 1986, No. 363 , eff. 4-1-86; am. (4), Register, June, 1988, No. 390 , eff. 7-1-88; am. (4), Register, July, 1993, No. 451 , eff. 8-1-93; cr. (1) (f), Register, August, 1994, No. 464 , eff. 9-1-94; r. and recr. (4), Register, July, 1998, No. 511 , eff. 8-1-98; EmR0811 : emerg. am. (1) (a), (b) and (d), eff. 4-16-08; CR 08-040 : am. (1) (a), (b) and (d) Register October 2008 No. 634 , eff. 11-1-08; correction in (1) (intro.), (2) made under s. 13.92 (4) (b) 6. , 7. , Stats., Register November 2011 No. 671 ; CR 13-073 : am. (1) (intro.), (a), (b), (e), (f), (4) (intro.), (a), (b), (5) (intro.), (a) to (c), (6), (7), cr. (9) Register May 2014 No. 701 , eff. 7-1-14; EmR1503 : emerg. am. (1) (b), eff. 1-22-15; CR 15-006 : am. (1) (b) Register July 2015 No. 715 , eff. 8-1-15.