Wednesday, September 22, 2010

New Listings
Click on the "New Listings" button to see agent view profiles of all of today's new listings.
MLS# 1606417 - 420 Waterloo Rd, Marshall - 3 bed/2.5 bath - $140,000 - Nicole Charles
MLS# 1606415 - N5936 Huron Rd, Plainfield - 2 bed/1 bath - $209,900 - Josh Lavik
MLS# 1606468 - 1383 Range Trail, Montrose - 3 bed/1 bath - $189,900 - Jerod Bennett
MLS# 1606491 - 2249 Glen Oaks Cir, Sun Prairie - 5 bed/5.5 bath - $699,500 - Shawn Kriewaldt


New Accepted Offers
MLS# 1603306 - 301 Apache Ct - Deforest - Joanna Contorno

Hawthorn Hill Broker Open
My Broker Open House at the NEW Hawthorn Hill Condo Development in DeForest has been rescheduled - Please come and see me NEXT Wed, 9/29 4-6pm. Can't wait to show it off - our model is beautiful! Wine and snacks!


Thanks!
Jenny Swain
219-8989
Confidentiality
Just a reminder to all agents as to your duty of confidentiality. Realize you owe this to all parties involved in a transaction, not just your clients! When you disclose the terms of a pending offer you are breaching that confidentiality and potentially putting the parties to the contract at a disadvantage should that offer never close. If anyone asks the terms of a pending offer all you can say is it is confidential until the price is recorded as a matter of public record.


As Keller Williams agents, we adhere to an even higher standard so please keep your clients and customers in mind in all things you do and say!


WRA Legal Hot Tip
Q. The agent has a friend who was a real estate agent and she took another job a few months ago. Her license is still active; she just is not in the real estate field anymore. She gave the licensee a referral and wants a 25% referral fee. Can the licensee give her that referral fee via the licensee’s broker even though the referring agent is not working under a broker? Do the licensee’s broker and the licensee’s friend sign the referral agreement? Then the licensee’s broker writes out the check to the licensee’s friend? Is this possible?


A. Wis. Stat. § 452.19 permits a broker to pay referral fees and finders fees to other Wisconsin licensees as long as that person's license is active, regardless of the fact that the person holds a salesperson's license (rather than a broker's license). The fact that the person is not currently employed by a broker is not relevant.


Pursuant to Wis. Stat. § 452.14(3)(f), any referral fee received by an employed salesperson (whether licensed as a broker or a salesperson) in connection with a real estate transaction may be received by the salesperson only from the salesperson's employing broker. A non-employed or inactive salesperson, however, can make a referral and receive a fee.
It may be prudent practice to ask for a copy of an agent's license before entering into an agreement for a paid referral. The agent must have a valid, current license - he or she must complete the continuing education requirements and pay the renewal fee each biennium to keep his or her salesperson's license current, or must have an inactive license with the DRL per Wis. Stat. § 452.12(6). It is not necessary that the agent be a local Board or WRA member.