Wyo. Code R. 018-0002-6
Real Estate Commission
Chapter 6: Regulatory Enforcement Grounds
Effective Date: 04/16/2018 to Current
Rule Type: Current Rules & Regulations
Reference Number: 018.0002.6.04162018
Section 1. Regulatory enforcement grounds. The Commission may take disciplinary action, which includes an administrative fine, censure, probation, suspension, or revocation, including a combination thereof, with respect to a licensee, for any of the following acts or conduct:
(xii) Failing to notify sub-agents, multiple listing service or other interested parties when agency or non-agency has been terminated. Notice to multiple listing services shall constitute notice to all members thereof;
(xiii) Failing to remove signs and/or lock boxes after termination of a listing; continuing to advertise real estate which is no longer listed;
(xiv) Advertising and promoting another real estate company's or Responsible Broker's listings without written permission and in compliance with Section 4 of this chapter;
(xv) Failing to pay a fine imposed or comply with all requirements of a Commission settlement agreement, stipulation and order;
(xvi) Compensating any unlicensed person for performing the services of a licensee for any real estate activity except anyone arranging non-consecutive short-term rentals.
(xvii) Failing to obtain and maintain errors and omissions insurance and provide proof of insurance to the Commission.
(xviii) Falsifying attendance and/or completion of required and elective education for licensure;
(xix) Failing to disclose the names of all real estate companies within all real estate transactions if the Responsible Broker holds a license for more than one (1) real estate company, per W.S. 33-28-111(a)(xxix)(D);
(xx) Procuring a license to practice pursuant to the Wyoming Real Estate Act by knowingly making a false statement, submitting false information, refusing to provide complete information in response to a question in an application for a license or through any form of fraud or misrepresentation;
(xxi) Participating, engaging, or assisting in a real estate transaction wherein all parties to the transaction are customers and no written agency or intermediary relationship is established.
(b) Unless approved by the Commission, the voluntary surrender, expiration or lapse of a license by a licensee does not prevent the Commission from proceeding with its investigation of a complaint and taking appropriate disciplinary action against a licensee.
(a) When a Responsible Broker's license is suspended or revoked, he shall return his license, all real estate company licenses, and the licenses of his Associate Brokers and Salespersons to the office of the Commission. Licensees affiliated with a Responsible Broker who have had their license suspended or revoked may not perform any real estate activity until they have transferred to a new Responsible Broker.
(b) When an Associate Brokers or Salesperson license has been suspended or revoked, the licensee shall return his license to the Responsible Broker who shall return the license to the Commission.
(a) The Commission shall not entertain complaints between licensees regarding disputes concerning matters of compensation, the earning, splitting or the non-payment thereof.
(b) A Responsible Broker may compensate a licensed, unlicensed or inactive person for real estate activity performed if the person was actively licensed and under the Responsible Broker's supervision at the time the real estate activity was performed.
(c) W.S. 33-28-110 (a) does not apply to incentives offered or paid to persons, who on their own behalf, engage the services of a licensee to assist them with the sale or purchase of real estate, provided those persons do not perform any real estate activity. Advertising and/or paying such incentives does not violate any provision of the act or rule or regulation of the Commission.
(d) A licensee may pay their personal assistant a salary directly. The Responsible Broker shall pay a licensed personal assistant if that personal assistant is to receive a percentage of any compensation.
(e) A Responsible Broker's payment of earned real estate compensation to a corporation or LLC which is solely owned by a licensee or licensees working under the Responsible Broker shall not be considered a violation of W.S. 33-28-111(a)(xxiii), 'compensating any unlicensed person.' Any agreement between the Responsible Broker and the corporation or LLC does not relieve the Responsible Broker of the obligation to supervise the licensee or any other requirement of the act or Commission rules.
The following advertising criteria shall be enforced by the Commission and met by real estate companies, Responsible Brokers, Associate Brokers, and Salespersons in all advertisements, displayed digitally or in print, in which the company or licensee is conducting real estate activity:
(a) When a real estate licensee or real estate company advertises with the use of a registered trade name, group name, or team name, the advertisement shall display the name of the real estate company as licensed by the Commission concurrently with the registered trade name, team name, or group name in a conspicuous manner that the general public may easily identify;
(i) A group or team consists of one or more real estate licensees conducting real estate activity representing the same real estate company in which they are all licensed by the Commission;
(b) When real estate Responsible Broker, Associate Broker, or Salesperson uses their individual name in an advertisement, he shall use the legal name in which he is licensed, as registered with and verified by the Commission.