Wisconsin Real Estate Sales Practice Exam

According to Wisconsin administrative rules, which of the following is NOT required to be disclosed by a licensee?

1. Presence of sex offenders

2. Community based homes

3. Written report by qualified third party

4. Stigmatized property

The correct answer is: Written report by qualified third party

In the context of Wisconsin administrative rules, the requirement for a licensee to disclose certain property-related information is guided by specific statutes. Among the options presented, the presence of a written report by a qualified third party is not mandated to be disclosed by a licensee. While licensees are expected to convey information that materially affects the value of the property or the buyer's decision, there is no explicit requirement for them to disclose findings or opinions from third-party reports. The presence of sex offenders, community-based homes, and stigmatized properties relate to disclosures that can influence the perception of a property and its value in the eyes of potential buyers. For instance, the knowledge about sex offenders is crucial for potential homeowners concerned about safety, while information about community-based homes and stigmatized properties could directly relate to the living conditions and future marketability of the property. Therefore, the absence of a requirement to disclose a written report by a qualified third party aligns with the navigation of privacy and the non-disclosure of certain personal opinions or assessments. This understanding helps ensure that the licensee fulfills their duty to inform without overstepping boundaries that aren't required by law.