Wisconsin Real Estate Exam Prep 2026 | Real Estate Practice Questions

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A licensee lists a property. The seller informs the licensee that the basement leaks during heavy rains, but they do not want this disclosed to potential buyers. What is the licensee's duty according to Wis. Admin. Code § REEB 24.07?

Follow the seller's instructions and not disclose the leak, as the duty of obedience to the client is paramount. Disclose the leak only if a buyer specifically asks about the basement's condition. Disclose the leak to all parties in writing, as it is a material adverse fact. Advise the seller to fix the leak before showing the property to avoid disclosure issues.

Correct Answer:

Disclose the leak to all parties in writing, as it is a material adverse fact.

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