Wisconsin License Discipline, Penalties & Recovery Fund

📋 The 1-minute cheat sheet

• The Real Estate Examining Board within DSPS investigates complaints and disciplines licensees.
• Discipline can include reprimand, limitation, suspension, or revocation of a license.
• The Board may also impose forfeitures (civil penalties) for violations of license law.
• Grounds include fraud, misrepresentation, mishandling trust funds, and untrustworthy or incompetent conduct.
• Wisconsin operates a real estate recovery (guaranty) fund to reimburse consumers harmed by licensee misconduct.
• Recovery-fund payment requires an unsatisfied court judgment against the licensee for covered conduct.
• Per-transaction and per-licensee payout caps apply; a paid claim can trigger license suspension until repaid.
• Criminal acts may also be referred for separate prosecution beyond Board discipline.