BrokerageIndustry News

Realtors propose rules for flat-fee brokerage

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A Wisconsin real estate task force wants to clarify the responsibilities of limited-service brokerage models while preserving their right to exist. The Wisconsin Realtors Association License Law Task Force, which has met for the past three years, this month issued a set of recommendations that focus on three key areas: fill in the gaps in license law; address agency issues of concern to licensees and consumers; and minimize unnecessary complexity. The association will push for changes to real estate licensing law that support the task force's recommendations. Realtor groups in several states have supported policy changes to better define minimum service requirements for limited-service real estate companies. According to an overview of the task force's recommendations, available at the Wisconsin Realtors Association Web site, "Limited-service brokerage models have raised concerns in the industry because the industry has not developed effective cooperation practices on either side ...