Wisconsin Timeshare and Real Estate Licensing Bill Enacted (AB 456)
Existing Wisconsin law required a broker or salesperson to
obtain a license for the act of “physically” selling real property in the
state. However, timeshare and membership campground salespersons were required
to register with the Department of Regulation and Licensing’s Real Estate
Examining Board (REEB) instead.
The Wisconsin timeshare and real estate licensing bill AB 456, sponsored by the state
Association of Realtors, was proposed to eliminate this registration requirement
for timeshare salespeople in the state.
The enactment of AB
456 would greatly streamline the timeshare sales process. It would
eliminate the need for registration of timeshare salespersons by the REEB at
the end of the current biennial registration period.
Position/Call to Action
ARDA supports AB 456
and has advocated for the bill’s enacted to streamline the sales process. ARDA
will continue to support bills that modernize the timeshare sales process and
provides an enhanced experience for consumers.
AB 456 was signed
by the governor on March 2nd as a larger part of Wisconsin Act 258,
with most provisions set to take effect on July 1, 2016. Specifically, the
repeal of the provisions related to timeshare salespersons take effect on
December 14, 2016.