[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-284096-105":53,"doc-detail-284096-en":127},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":120,"head_meta":122,"extra_data":124,"updated_unix":126},105,"en","wisconsin-realtors-association-commercial-letter-of-intent-form-proposal","Wisconsin REALTORS Association - Commercial Letter of Intent Form Proposal","","This document outlines the proposal by the Wisconsin REALTORS Association (WRA) to develop a standardized Commercial Letter of Intent (LOI) form for real estate practitioners. It defines a LOI as a non-enforceable agreement used during preliminary negotiations in commercial real estate transactions. The text emphasizes the legal limitations faced by real estate licensees, who must avoid providing legal advice while facilitating negotiations. By drafting an attorney-prepared form, the WRA aims to mitigate risks associated with custom-drafted documents. The proposed form would be an optional WRA resource, distinct from state-mandated WB forms, and specifically restricted to commercial use to ensure professional boundaries. The WRA actively solicits member feedback to determine the necessity and utility of this resource, inviting direct correspondence with their representative to gauge industry support and potential implementation strategies for the suggested form in upcoming professional practice.",{"@graph":63,"@context":119},[64,80,102],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":41,"@type":70,"position":76},"https://docshare.wps.com/template/letters/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/wisconsin-realtors-association-commercial-letter-of-intent-form-proposal/284096/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/wisconsin-realtors-association-commercial-letter-of-intent-form-proposal/284096.png","ImageObject",442,249,{"name":88,"@type":89},"Aria Callaghan","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-22","2026-09-17",true,{"@type":98,"interactionType":99,"userInteractionCount":101},"InteractionCounter",{"@type":100},"ViewAction",9,{"@type":103,"mainEntity":104},"FAQPage",[105,111,115],{"name":106,"@type":107,"acceptedAnswer":108},"What is a Letter of Intent (LOI) in the context of real estate?","Question",{"text":109,"@type":110},"A LOI is a document used during preliminary negotiations that functions as an agreement to agree in the future; it is not considered an enforceable contract.","Answer",{"name":112,"@type":107,"acceptedAnswer":113},"Why does the WRA consider creating a custom LOI form?",{"text":114,"@type":110},"The WRA is considering this to provide members with a reliable, attorney-drafted resource for commercial transactions, thereby reducing the risks associated with licensees drafting their own documents or using non-vetted forms.",{"name":116,"@type":107,"acceptedAnswer":117},"Would the new commercial LOI form be mandatory for licensees?",{"text":118,"@type":110},"No, the proposed form would be optional. Licensees could choose to continue using their preferred LOI forms, and it would not replace the state-mandated WB forms.","https://schema.org",{"og:url":78,"og:type":121,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":123,"canonical":78},"index,follow",{"doc_id":125,"site_id":56},284096,1790434523,{"code":4,"msg":5,"data":128},{"doc_id":125,"user_id":129,"nickname":88,"user_avatar":130,"doc_module":9,"category_id":40,"category_name":41,"doc_title":59,"doc_description":61,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":101,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":9,"language":136,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":61,"update_tm":140,"read_time":4},962084926284,"https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0","On and off over the last few years, WRA has been asked to create a Letter of Intent (LOI) .  \nA LOI is an agreement to agree in the future and is not an enforceable contract. In commercial transactions, it is commonplace for real estate agents to assist parties during the preliminary negotiation process by way of a LOI.  \nWhile real estate licensees can handle negotiations, which could potentially include a LOI, they also cannot provide legal advice. Since a LOI is not an enforceable contract, real estate licensees have to be cautious when working with LOIs because they must walk a fine line of avoiding providing any information, advice or representation of a legal nature.  \nCurrently, Wisconsin law does not prohibit real estate licensees from utilizing LOIs on behalf of their party. The law does allow licensees the ability to utilize forms drafted by attorneys when a state-approved (WB) form is unavailable. Arguably, a licensee is in a better position to use a LOI form created by an attorney rather than drafting one on their own.  \nIn the past the WRA has been hesitant to create a LOI because the LOI is fraught with potential risk for real estate licensees. However, due to the fact that LOIs are so commonly used in commercial transactions the WRA is considering creating a LOI form to assist members.  \nIf the WRA created a LOI that would mean:  \nThe form would be a WRA form, not a WB form. A WB form must be used by real estate licensees, WRA forms do not.  \nThe form would be optional. Therefore, agents can continue to use their preferred LOI form rather than WRA’s.  \nThe form would be drafted by WRA attorneys.  \nThe form would be titled “Commercial Letter of Intent.” This is intended to limit the use by residential practitioners.  \nDo you think WRA should create a Commercial LOI form? Please provide your comments to Kevin King at [kevin@wisre.com](kevin@wisre.com).  \nThank you!","cbCaidM9tn2PtSo3","https://ap.wps.com/l/cbCaidM9tn2PtSo3","pdf",64463,"English","# Background and Purpose of LOIs\n## Legal Risks and Practitioner Responsibilities\n# Proposed WRA Commercial LOI Form\n## Key Characteristics of the Proposed Form\n# Call for Member Feedback","[{\"question\":\"What is a Letter of Intent (LOI) in the context of real estate?\",\"answer\":\"A LOI is a document used during preliminary negotiations that functions as an agreement to agree in the future; it is not considered an enforceable contract.\"},{\"question\":\"Why does the WRA consider creating a custom LOI form?\",\"answer\":\"The WRA is considering this to provide members with a reliable, attorney-drafted resource for commercial transactions, thereby reducing the risks associated with licensees drafting their own documents or using non-vetted forms.\"},{\"question\":\"Would the new commercial LOI form be mandatory for licensees?\",\"answer\":\"No, the proposed form would be optional. Licensees could choose to continue using their preferred LOI forms, and it would not replace the state-mandated WB forms.\"}]","Wisconsin REALTORS Association - Commercial Letter of Intent Form Proposal | PDF",1789628190]