Agency
Area IV carries 15 of the 50 scored items — 30 percent of the Nebraska broker state exam and its largest single published block. Nebraska agency law sits in sections 76-2401 to 76-2430 of the Revised Statutes, not in the License Act, and it supersedes the common law.
Limited Agency and the Default Relationship
Every brokerage relationship in Nebraska is a limited agency. Under section 76-2416 a licensee may act as a single agent, subagent, or dual agent, and a licensee is treated as the buyer's or tenant's limited agent unless the designated broker enters a written seller's or landlord's agency agreement, a subagency agreement with another designated broker, a written dual agency agreement, or the expanded written agreement allowed by section 76-2422(6). Section 76-2429 provides that these sections supersede the common law, including an agent's fiduciary duties, except under that expanded agreement. Sections 76-2417 and 76-2418 set the duties a seller's and a buyer's agent owe: performing the written agreement, reasonable skill and care, good faith and loyalty, presenting all written offers in a timely manner even while the property is under contract, disclosing adverse material facts in writing, accounting for money and property, and advising the client to get expert advice. Toward a customer, the agent owes written disclosure of known adverse material facts, but no duty to inspect independently or verify the client's statements.
Disclosure, Dual Agency, and Conflicts
Section 76-2421 requires the licensee, at the earliest practicable opportunity during or following first substantial contact, to give a written copy of the current Commission-approved brokerage disclosure pamphlet and to disclose in writing the relationships offered or which party the licensee represents. A dual agent may act only with the informed consent of all parties, evidenced by a written agreement under section 76-2422. Section 76-2419(4) protects four items absent informed written consent: that a buyer will pay more than offered, that a seller will take less than asked, the parties' motivating factors, and willingness to accept other financing terms. A designated broker who appoints affiliated licensees as limited agents of one client under section 76-2427 does not thereby become a dual agent. Section 81-885.24(9) makes acting as agent and undisclosed principal an unfair trade practice, and rule 299 NAC 5-003.04 requires the licensee's interest be disclosed in writing before the other party becomes obligated.
Property Disclosures, Listings, and Closings
Section 76-2,120 requires the seller of residential real property of one to four dwelling units to complete a written condition disclosure statement and deliver it to the purchaser on or before the effective date of the binding contract, with the purchaser acknowledging receipt in writing. Newly constructed property never occupied, foreclosure and trustee's sales, and transfers between co-owners or to relatives are among the exemptions. A failure to comply does not invalidate the transfer; the purchaser's remedy is an action for actual damages, court costs, and attorney's fees, brought within one year of possession or conveyance, whichever comes first. Section 81-885.24(19) requires a fixed expiration date in any written listing and a copy left with the principal, and section 76-2422(2) adds the licensee's duties, the compensation terms, and whether subagency may be offered. A broker closing a transaction purely as an independent party must disclose in writing before closing that he or she acts as agent for neither side.
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State-specific details
State exam facts
- State regulator
- Nebraska Real Estate Commission (NREC)
- Exam vendor
- Pearson VUE
- Prelicensing education
- 60 class hours beyond the 90-hour salesperson requirement
- Passing score
- 75%
- Scored questions
- 130
- Time limit
- 240 minutes
Who regulates real estate brokers in Nebraska?
The Nebraska Real Estate Commission (NREC) licenses and disciplines brokers, associate brokers, and salespersons under the Nebraska Real Estate License Act (Neb. Rev. Stat. sections 81-885 to 81-885.56). NREC contracts with Pearson VUE to deliver the licensing exams, at Pearson Professional Centers in Lincoln, Omaha, and North Platte and at community college sites including Columbus, Grand Island, Hastings, Lexington, McCook, Norfolk, and Scottsbluff.
What experience do I need before the Nebraska broker exam?
Under Neb. Rev. Stat. section 81-885.13(3), broker applicants must have served actively for two years as a licensed salesperson or broker and complete 60 class hours of commission-approved education beyond the salesperson requirement, or qualify under the hardship provision. Rule 299 NAC 1-004.01 reads 'served actively for two years' as full-time experience, or the equivalent period if less than full time. Applicants must be at least 19 years old, and a new broker may not act as a designated broker until completing postlicensure courses in real estate trust accounting, brokerage finance, business ethics, and risk management.
How is the Nebraska broker exam structured?
The Nebraska broker exam is entirely multiple choice, in two portions taken in one 4-hour appointment: an 80-item national portion (2.5 hours) and a 50-item Nebraska state portion (1.5 hours), for 130 scored items, plus 5 to 10 unscored pretest items. A score of 75% is required. A salesperson candidate who passes one portion may retake only the portion failed; a broker candidate who fails either portion must retake both parts of the examination.
What does the Nebraska state portion of the broker exam cover?
Pearson VUE publishes a separate broker state outline (effective September 1, 2023) with five areas across the 50 scored items: Duties and Powers of the Real Estate Commission (5), Licensing (7-8), Statutory Requirements Governing the Activities of Licensees (17-18), Agency (15), and Additional Topics (5). Agency alone is 30% of the state portion. The broker outline is not the salesperson outline: the two carry identical areas and subtopics but swap the item counts for Statutory Requirements and Agency.
Sources: https://nrec.nebraska.gov/licensing-forms/licenseinformation.html, https://www.pearsonvue.com/content/dam/VUE/vue/en/documents/publications/092800.pdf, https://nebraskalegislature.gov/laws/statutes.php?statute=81-885.13
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