Wisconsin Real Estate Sales Practice Exam

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Prepare for the Wisconsin Real Estate Sales Exam. Utilize flashcards and multiple choice questions with detailed explanations. Achieve success on your test!

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In the WB-1 Residential Listing Contract, how long is the listing period extended for protected buyers?

6 months
1 year
90 days
2 years

The correct answer is: 1 year

In the WB-1 Residential Listing Contract, the listing period is extended for a duration of one year for protected buyers. This provision is in place to ensure that if the property is shown to a potential buyer during the listing period, and that buyer later decides to purchase the property after the listing contract has expired, the seller is still entitled to compensation. This helps to provide protection for the seller, ensuring they are rewarded for marketing efforts and any leads developed during the original listing period, potentially preventing disputes regarding commissions or sales that occur shortly after the listing has ended. Other durations, such as six months or 90 days, do not align with the established protective measures outlined in the contract, which focus on safeguarding the interests of the seller. A two-year extension would be unnecessarily lengthy and not typical in standard real estate practices, as it could lead to complications in future listings and market conditions. The one-year extension strikes a balance between protecting the seller's interests while allowing reasonable time for buyers to complete their decisions.