Wisconsin Real Estate Sales Practice Exam

What form should a licensee use to notify a secondary buyer of an elevated offer?

1. Notification Form- WB-39

2. Amend Offer- WB-40

3. Notice- WB-41

4. Transfer of Rights- WB-44

The correct answer is: Notice- WB-41

The appropriate form for notifying a secondary buyer of an elevated offer is the Notice (WB-41). This form is specifically designed to communicate important information in real estate transactions, ensuring that all parties are aware of significant developments, such as changes in offers. The use of the Notice form facilitates clear communication and helps maintain transparency between agents and their clients, which is essential in any real estate transaction. In contrast, the Notification Form (WB-39) is typically used for different purposes and doesn't specifically address the scenario of communicating changes to offers. The Amend Offer (WB-40) form would be relevant if the actual terms of a contract needed to be modified, but it is not the correct choice when merely informing a buyer about another offer. The Transfer of Rights (WB-44) pertains to the transfer of certain rights in transactions and is not applicable in this context. Therefore, the Notice (WB-41) is the most suitable choice for notifying a secondary buyer of an elevated offer, ensuring compliance with best practices in real estate communication.