Key Takeaways
- The Wyoming Real Estate Commission (WREC) regulates real estate licensees under Wyoming Statutes Title 33, Chapter 28
- WREC consists of five members appointed by the Governor: four licensed real estate professionals and one public member
- WREC has authority to investigate complaints, conduct audits, and take disciplinary action including license suspension or revocation
- Wyoming requires 54 hours of pre-license education for salesperson applicants
- The Commission administers the Real Estate Recovery Fund to protect consumers
Wyoming Real Estate Commission (WREC)
The Wyoming Real Estate Commission (WREC) is the state agency responsible for licensing, regulating, and overseeing real estate professionals in Wyoming under Wyoming Statutes Title 33, Chapter 28.
Real Estate SalespersonFree exam prep with practice questions & AI tutor
WREC Structure and Authority
Commission Members
WREC consists of five members appointed by the Governor:
| Member Type | Number | Requirements |
|---|---|---|
| Licensed real estate professionals | 4 | Active Wyoming license |
| Public member | 1 | Not licensed in real estate |
Members serve four-year staggered terms with one term expiring each year.
Key WREC Functions
| Function | Description |
|---|---|
| Licensing | Process applications, approve education providers, issue licenses |
| Education | Set education requirements, approve courses and schools |
| Enforcement | Investigate complaints, conduct audits of trust accounts |
| Discipline | Suspend, revoke, or deny licenses; impose fines |
| Recovery Fund | Administer the Real Estate Recovery Fund |
Wyoming Real Estate License Law
The Wyoming Real Estate License Law (W.S. 33-28-101 through 33-28-402) is the primary statute governing real estate licensing in Wyoming. Key provisions include:
- Who must be licensed - Definitions of broker and salesperson activities
- Exemptions - Attorneys, property owners, certain employees
- Prohibited conduct - Actions that violate the law
- Disciplinary actions - Grounds for suspension or revocation
- Trust fund handling - Requirements for client funds
WREC Administrative Rules
WREC adopts administrative rules (Chapter 018-0002) that implement the License Law. These rules cover:
- License application procedures
- Education requirements and course approval
- Advertising standards
- Trust account requirements
- Agency disclosure procedures
Exam Tip: Wyoming does not have direct reciprocity with any other state. Out-of-state licensees must complete the Wyoming Law course and pass the state portion of the exam.
Real Estate Recovery Fund
The Wyoming Real Estate Recovery Fund provides compensation to consumers who suffer financial losses due to the misconduct of a licensed real estate professional.
Fund Details
| Requirement | Details |
|---|---|
| Maximum per transaction | $25,000 |
| Maximum per licensee | $100,000 total |
| Filing requirements | Must obtain court judgment first |
| License consequence | License suspended if claim paid |
How the Fund Works
- Consumer is harmed by licensee misconduct
- Consumer obtains court judgment against licensee
- Consumer cannot collect judgment from licensee
- Consumer applies to WREC for payment from Recovery Fund
- WREC pays from fund (if eligible)
- Licensee's license is suspended until reimbursement plus interest
Key Point: The Recovery Fund covers actual damages only—not punitive damages, attorney fees, or court costs.
WREC Contact Information
| Resource | Information |
|---|---|
| Website | realestate.wyo.gov |
| Main Office | Cheyenne, Wyoming |
| Phone | (307) 777-7141 |
| Online System | WREC online licensing portal |
How many members serve on the Wyoming Real Estate Commission?
What is the maximum amount the Wyoming Real Estate Recovery Fund can pay per transaction?