Wisconsin Real Estate Sales Practice Exam

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How many days does a broker have to deliver the list of protected buyers to the seller after the expiration of the listing?

10 days
5 days
3 days
1 day

The correct answer is: 3 days

The correct answer is based on the regulations set forth in Wisconsin real estate law regarding the responsibilities of brokers after a listing agreement expires. When a listing expires, a broker must take certain actions concerning any protected buyers who may have been introduced to the property during the listing period. Specifically, Wisconsin law states that a broker has three days to provide the seller with a list of these protected buyers. This requirement ensures that the seller is aware of potential buyers who might still be interested in the property, allowing them to follow up or consider future negotiations. The timeline is deliberately short to maintain the momentum of any interested parties and facilitate timely communication regarding the sale of the property.