Statutory Requirements Governing the Activities of Licensees
Area III is the largest block on the Nebraska broker state exam, published as 17 to 18 scored items. It gathers advertising, the designated broker relationship, supervision and teams, compensation, funds of others and the 72-hour rule, inducements, unauthorized practice of law, illegal acts, trust accounts, and record keeping.
Advertising, Relationships, and Supervision
Rule 299 NAC 2-004 puts all advertising under the broker's direct supervision and requires the recorded business name to appear prominently; section 81-885.24(33) makes omitting it an unfair trade practice, and 81-885.24(34) forbids team advertising that suggests the team is an independent brokerage. Team names must contain the word 'team' or 'group' and may not carry corporate designations. A licensee advertising his or her own property must disclose the licensed status, and blind advertisements showing only a box number, telephone number, or address are prohibited. The designated broker, defined in section 81-885.01(6), holds full authority over the firm's real estate activities and is responsible for supervising associate brokers and salespersons; rule 299 NAC 5-003.21 makes failure to supervise an independent ground for discipline. Under section 81-885.56 a team leader supervises the team subject to the designated broker's overall supervision.
Compensation, Funds of Others, and the 72-Hour Rule
Section 81-885.24(8) bars a salesperson or associate broker from taking compensation from anyone but the employing broker without consent, which rule 299 NAC 2-010 requires be in writing and given in advance. Section 81-885.24(35) forbids charging or collecting any part of the earnest money as compensation until the transaction is consummated or terminated. Rule 299 NAC 5-003.14 requires earnest money to be deposited within 72 hours or before the end of the next banking day after an offer is accepted in writing, unless the purchase agreement provides otherwise, and requires the deposit be returned forthwith where the offer is not accepted; rule 299 NAC 3-007 applies the same deadline to the selling broker in a cooperative sale, who then transfers the money to the listing broker by trust account check. A salesperson who receives funds must place them with the employing broker as soon after receipt as practicable under section 81-885.24(24).
Trust Accounts, Illegal Acts, and Records
Section 81-885.21 requires each active broker to keep a separate insured trust account in this state, to tell the Commission where it is held, and to let the Commission examine it annually. Rule 299 NAC 3-005 makes clear that money which will ultimately be the broker's may sit in the account without constituting commingling, provided it is separately identified and paid out by trust account check. Where entitlement to earnest money is disputed, rule 299 NAC 3-008 requires the broker to hold it until a written release from all parties or until a civil action is filed, at which point it may be paid into court. Records of a consummated transaction are preserved five years. Among the illegal acts in section 81-885.24 are offering free lots or lotteries to influence a purchaser, placing a sign without the owner's written consent, blockbusting, and offering or entering into a right-to-list home sale agreement. Rule 299 NAC 5-003.01 treats preparing a land contract or trust deed for closing without an attorney's approval as unworthiness, and 5-003.16 forbids advising against the use of an attorney.
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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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