Kaplan University School of Professional and Continuing Education Kaplan University School of Professional and Continuing Education

Nevada FAQs

Frequently Asked Questions

An applicant for a Nevada Real Estate Salesperson license must:

· Be at least 18 years old.

· Provide certificates of completions for the following:

a) Proof of pre-licensing education by certified transcripts or certificates. A total of 120 hours is required to include:

b) 45 hours or 3 college credits Real Estate Principles

c) 45 hours or 3 college credits Real Estate Law (must include 18 hours Nevada Law)

d) 15 hours or 1 college credit in contracts in real estate transactions to the extent allowed in the capacity of the licensee

e) 15 hours or 1 college credit in agency, which must include 3 hours of foundation of relationship between broker and agents and 3 hours of risk reduction

· Pre-licensing education from another state may be accepted. Please see reciprocity document

· Two fingerprint cards processed by a government or law enforcement agency within the last year

· Pass the state and national exam within 12 months

Application must be notarized and completed by applicant (form #549).

If you are currently licensed as a salesperson or broker in another state, some of these requirements may be amended. Please contact the Nevada Real Estate Division for details.

· An applicant for a Nevada Broker’s license must:

· Be at least 18 years old

· Complete the required education

· Applicants for a Broker's license (not a Broker/Salesperson license) must have been actively engaged as a full-time licensed real estate broker or salesman for at least two (2) of the four (4) years immediately prior to the issuance of a Nevada Broker license.

· Applicants may apply for a Broker/Salesperson license without meeting the experience requirement.

· An applicant for a Nevada Broker/Salesperson License must complete the following 64 semester units:

a) Proof of pre-licensing education by certified transcripts or certificates— 64 semester college credits required

b) 45 hours or 3 college credits Real Estate Principles or licensed experience.

c) 45 hours or 3 college credits Real Estate Law or licensed experience (must include 18 hours Nevada Law provided by a NV school)

d) 45 hours or 3 college credits Real Estate Appraisal course or licensed experience

e) 45 hours or 3 college credits Broker Management Course (Nevada specific course)

f) 15 college credits in real estate, business, economics or licensed experience

g) 15 hours or 1 college credit in contracts in real estate transaction to the extent allowed in the capacity of the licensee

h) 15 hours or 1 college credit in agency, which must include 3 hours of foundation of relationship between broker and agents and 3 hours of risk reduction

i) 35 college-level units from an accredited college or licensed experience

Experience may be used in place of some education. Contact the Real Estate Division.

First-time licensees issued an initial license as defined in NAC 645.4442 must take the mandatory modules for 30-hours of post-licensing education within the first 12 months immediately after initial licensing. The first time licensee issued an initial license must also take an additional 12 hours of continuing education credits in the mandatory designations of Agency, Nevada Law, Contracts, and Ethics. The total of 42 hours must all be taken through live instruction. The additional 12 hours of designated courses may be taken anytime within the 24 month renewal period.

First time licensees who qualify for 645.4442(2) are required to complete 36 hours of continuing education. The 36 hours must include 3 hours of Agency, 6 hours of Contracts, 3 hours of Ethics, 3 hours of Law & Legislation, 3 hours of Risk Reduction, 6 hours of Broker Management, and 12 hours of general courses (Business Broker permit holders must include the 3 hours of CE for permit renewal; Property Management permit holders must include 9 hours of CE for permit renewal).

Licensing terms are 4-years in length. In each 2-year period of the 4 year term, licensees must complete 36 hours of education every renewal period from the date of issuance, which includes the designated course requirements for the type of license and any permits, and must provide the Division with proof of completion of that education before the end of each 2-year period. Not less than 15 of the hours must be devoted to ethics, professional conduct or the legal aspects of real estate, including: 3 hours in the area of agency relationships, 3 hours in the area of law and legislation, 3 hours in the area of contracts, 3 hours in the area of risk reduction, and 3 hours in the area of ethics. Additionally, at least 18 of the 36 hours must be taken through classroom/live instruction setting.

Licensing terms are 4-years in length. In each 2-year period of the 4 year term, licensees must complete 36 hours of continuing education every renewal period from the date of issuance, which includes the designated course requirements for the type of license and any permits, and must provide the Division with proof of completion of that education before the end of each 2-year period. Not less than 21 of the hours must be devoted to ethics, professional conduct or the legal aspects of real estate, including: 3 hours in the area of agency relationships, 3 hours in the area of Nevada law with an emphasis on recent statutory and regulatory changes, 6 hours in the area of contracts, 3 hours in the area of ethics and 6 hours in the area of broker management.  Additionally, at least 18 of the 36 hours must be taken through classroom/live instruction setting.

1.     Register for the 90 Hours of Required Education

Choose the Salesperson Licensing Package that is best for you:

Premium OnDemand Licensing Package | $349

Essential Self-Study Licensing Textbook Package | $299

 

2.     Complete Your Fingerprinting and Background Check

For more detailed information, go to:

www.red.state.nv.us/publications/bulletins/ib11-fingerprinting.pdf

 

3.     Complete Your Required Education

Whether you are fresh out of school or have been away for many years,

our organized programs will get you on track and keep you there.

 

4.     Take the Nevada Real Estate Salesperson Licensing Exam

As a Kaplan student, you will be confident that

you are thoroughly prepared for taking the exam.

 

To further prepare yourself and to be confident you are prepared for

the exam, enroll in:

 

Nevada Master Exam Prep with Textbooks | $139

 

5.     Apply for Your Nevada Real Estate Salesperson License

Detailed information for the license application process can be

located on the Nevada Real Estate Division’s Website at:

http://www.red.state.nv.us/forms/501.pdf

 

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All Kaplan Real Estate Education licensing, postlicensing and continuing education courses are submitted and approved by that state's governing body.

Each state handles reciprocity differently. We encourage individuals who are licensed in a state and desire to become licensed in additional states to contact the target state regulator body for details. After obtaining the requirements necessary to be licensed in that state, our customer service team can assist you with matching courses to state reciprocity rules. 

What is the difference between a sales person and a broker? A real estate salesperson or broker is a professional licensed by their state to help consumers with real estate matters.  A salesperson must work under a managing or principal broker, this is the broker who is in charge of the brokerage firm.  Some states only license brokers, in that case, new brokers may be called broker associates and are required to work under a managing or principal broker. Much like a salesperson. 

A managing, principal or employing broker is a licensed broker who is in charge of a brokerage firm and the salespersons or broker associates of the firm. Typically to become a managing broker at least two years of active license experience and further course work and sometimes license exams are required.

No matter if you are a real estate salesperson, broker associate or managing broker the job is the same work with buyers, sellers, tenants and landlords to help them reach an agreement.

An appraiser gives an opinion of the quality, value, or utility of a specific property. An appraisal is usually required whenever real estate is sold, mortgaged, taxed, insured, or developed. A typical appraisal might include physically inspecting the property, measuring the improvements and collecting the associated costs, preparing a site drawing, writing the physical description of the property, researching official records and deeds, finding similar properties to compare, and writing a final appraisal report.

  • Make a list of brokerage firms you want to talk with. If you don't know where to start, browse real estate ads to see if some firms seem more interesting than others.
  • Visit your local Chamber of Commerce or Board of REALTORS® to find out which firms are best represented. Pay attention to television and radio advertising, billboards, and the “For Sale” signs you see in yards.
  • Make appointments with the managing or principle broker of each real estate firm on your list. Larger firms may have recruiting managers.
  • Ask the broker for an itemized list of startup expenses. Are you required to join local, regional, and national professional organizations? Are there recurring monthly or quarterly expenses for membership?
  • Find out if advertising expenses are paid by the agency. How about “For Sale” signs and other signs? Do they provide them to agents free of charge?
  • Who pays for long distance telephone calls to clients? How about photocopies, stamps, and other office-related expenses?
  • Does the firm provide in-office computers and printers for real estate agent use, or are you expected to bring your own?
  • Ask if the firm carries errors and omissions insurance for agents. If so, find out what's covered. Discuss the policy with an insurance carrier to make sure it's adequate.

According to Salary.com, most real estate agents earn on average between $36,566 and $47,610 annually. How much agents make depends on the number of transactions they complete, the commission paid to the brokerage, and their split with the sponsoring broker. If you are talking with a franchised agency, be sure to ask what percentage of each sales commission is deducted and sent to the franchising company. Top producers earn a lot more than the average real estate agent. Each real estate office sets its own standards for top producers, but it's probably safe to say that a top producer would need to sell at least one home a month to qualify. Mega-stars earn $200,000 and up per year. Very few real estate professionals earn a salary versus commission.