New Listings
Click on the "New Listings" button to see agent view profiles of today's new listings.
MLS# 1608287 - 19 Halite Way, Fitchburg - 2 bed/2 bath - $199,900 - Jenny Swain
MLS# 1608296 - Lot 5 Course View Dr., Pleasant Springs - Vacant Land - Kerri Campbell
MLS# 1608302 - Lot 6 Course View Dr., Pleasant Springs - Vacant Land - Kerri Campbell
MLS# 1608298 - Lot 7 Course View Dr., Pleasant Springs - Vacant Land - Kerri Campbell
New Accepted Offers
MLS# 1594874 - 6777 Valiant Dr, Windsor - Michela Terrazino
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WRA Legal Hot Tip
Q. A licensed agent in the listing broker’s office wants to submit an offer on a current listing. There already is an offer submitted to the seller from an outside buyer. Can the licensed agent’s offer be submitted before the first offer is either accepted or rejected? Can the listing agent inform the interested licensed agent that they have received another offer?
A. Wis. Admin. Code § RL 24.13(3)(b) states that: “A listing broker or the listing broker's employe may not submit his or her own offer to purchase a property which the broker has listed if the broker or broker's employe has knowledge of the terms of any pending offer, except that a broker may arrange for a guaranteed sale at the time of listing.” § RL 24.13(3)(b) prohibits the listing broker or any of the salespersons working for that listing broker who have knowledge of the terms of a pending offer from submitting their own offer to purchase a property listed by that broker until the pending offer has been rejected by the seller or otherwise eliminated from the seller's consideration. In other words, if the listing agent has received any offers to purchase, even if they have not yet been presented to the seller, in-house licensees with knowledge of the terms of any of the offers must wait before submitting their own personal offers. The purpose of this rule is to protect against agents within the listing broker's office using knowledge of the terms of other offers submitted on a listing for their own personal benefit and gain. This rule effectively prevents the listing broker and any licensee employed by the listing broker from even submitting a secondary offer if they know the terms of any other offer that is accepted, being countered by seller, being considered by seller, awaiting presentation to seller, etc.
Brokers are free to impose more restrictive office policies, for instance, forbidding any offer from any agents within the office if any offer is pending at all – this guards against the perception by consumers that the agents in the listing office may be taking advantage of “insider knowledge.”
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