Nebraska Real Estate Salesperson Exam — All Questions

In Nebraska, a licensee may act as a limited dual agent representing both the buyer and the seller in the same transaction only when:

• a.The transaction is a new-construction sale
• b.The licensee first obtains a separate broker license
• c.Both parties give informed written consent✓
• d.The purchase price exceeds a set amount

Nebraska allows a licensee to act as a limited dual agent representing both parties in the same transaction only with the informed written consent of both the buyer and the seller. A dual agent must treat both fairly and may not reveal one party's confidential information to the other without permission.

A Nebraska licensee who represents the seller as the seller's agent owes the other party (the buyer) at least a duty of:

• a.Honesty and fair dealing, including disclosure of known material defects✓
• b.Confidentiality about the seller's lowest acceptable price
• c.Full fiduciary loyalty
• d.No duty of any kind

A seller's agent owes full statutory duties, including loyalty and confidentiality, to the seller who is the client. To the buyer, who is not the client, the licensee still owes honesty and fair dealing and must disclose known material defects in the property.

Under Nebraska's brokerage relationship statutes, a licensee who has signed no written agency agreement is treated as:

• a.a seller's limited agent by default
• b.a transaction broker owing no duties
• c.a dual agent until the parties choose
• d.a buyer's or tenant's limited agent✓

Nebraska's default runs to the buyer side. A licensee is considered a buyer's or tenant's limited agent unless the designated broker has entered a written seller or landlord agency agreement, a subagency agreement, a written dual agency agreement, or an expanded written agency agreement. Cite: Neb. Rev. Stat. 76-2416(2).

At the earliest practicable opportunity during or after first substantial contact, a Nebraska licensee must hand the consumer:

• a.the brokerage disclosure pamphlet the commission approves✓
• b.a written estimate of the consumer's own closing costs
• c.the seller property condition disclosure statement form
• d.a printed copy of the Nebraska Real Estate License Act and rules

Nebraska requires the licensee to give a written copy of the current brokerage disclosure pamphlet prepared and approved by the commission, plus a written disclosure of the relationships offered or of which party the licensee represents. Cite: Neb. Rev. Stat. 76-2421(1).

A Nebraska customer refuses to sign the written agency disclosure. The licensee must:

• a.stop working with that customer altogether
• b.obtain a witnessing signature from another licensee
• c.note the refusal on the copy retained✓
• d.file the unsigned disclosure with the commission

The disclosure carries a signature block for acknowledgment, and acknowledging receipt is not a contract. If the customer fails or refuses to sign, the licensee notes that fact on a copy of the disclosure and retains the copy. Cite: Neb. Rev. Stat. 76-2421(5).

Written agreements for brokerage services in Nebraska are entered into by:

• a.the client's attorney of record in the transaction
• b.any affiliated licensee, on that licensee's own behalf
• c.the commission-approved closing agent for the deal
• d.the designated broker, or a licensee so authorized✓

All Nebraska written brokerage agreements are entered into by the designated broker on behalf of that broker and the affiliated licensees, except that the designated broker may authorize affiliated licensees in writing to sign them. A copy goes to the client. Cite: Neb. Rev. Stat. 76-2422(1).

Before acting as a single agent for the buyer of a one- to four-unit Nebraska home, a designated broker must:

• a.register that buyer with the property's listing broker
• b.obtain the seller's written permission to represent
• c.collect a retainer of at least $500 from the buyer
• d.enter a written agency agreement with the buyer✓

Nebraska now requires the written buyer agency agreement up front for residential property of one to four dwelling units; for other property types the agreement may be entered before or while the licensee acts. The agreement must state duties, compensation, a fixed expiration date, and whether subagency may be offered. Cite: Neb. Rev. Stat. 76-2422(3) (as amended by 2025 Neb. Laws LB187, operative July 1, 2025).

A Nebraska written seller agency agreement must state the licensee's duties, the terms of compensation, and:

• a.the name of the broker's E&O insurance carrier
• b.the date the agreement expires✓
• c.the property's current assessed valuation
• d.the lowest price the seller would accept

Nebraska's seller or landlord agency agreement must set out the duties in 76-2417, the terms of compensation, a fixed date of expiration, and whether an offer of subagency may be made to another designated broker. Cite: Neb. Rev. Stat. 76-2422(2).

A Nebraska buyer's agent must disclose in writing to an unrepresented seller:

• a.the buyer's personal reasons for relocating now
• b.the commission the buyer's agent expects to earn
• c.the highest price this buyer is prepared to offer
• d.known adverse facts about the buyer's ability to pay✓

A Nebraska buyer's or tenant's agent owes the seller or landlord no duty except written disclosure of all adverse material facts actually known, which may include facts about the client's financial ability to perform. The agent need not independently investigate the client's finances. Cite: Neb. Rev. Stat. 76-2418(3).

After a Nebraska brokerage relationship ends, the licensee still owes:

• a.loyalty in that former client's next transaction
• b.continued marketing until the listing has expired
• c.accounting for money and property, and confidentiality✓
• d.obedience to the client's last written instructions on the sale

Unless the parties agree otherwise in writing, a Nebraska licensee owes no further duty after termination, expiration, or completion except accounting for money and property related to the relationship and keeping confidential the information made confidential by statute, client instruction, or broker policy. Cite: Neb. Rev. Stat. 76-2423(2).

A Nebraska licensee need not give the written brokerage disclosures to a corporation buying:

• a.property zoned or assessed commercial✓
• b.a single-family house held as a rental
• c.a residential duplex held for investment
• d.a vacant lot in a residential subdivision

Nebraska exempts corporations, LLCs, partnerships and similar entities from the written disclosures when the property has five or more residential dwelling units, is subdivided for five or more, or is zoned or assessed by the county assessor as commercial or industrial. Cite: Neb. Rev. Stat. 76-2421(6).

When a Nebraska designated broker acts as a dual agent on a specific property, the parties must confirm in writing the dual agency status and:

• a.the date the listing was first entered in the MLS
• b.the identity of the closing agent for the deal
• c.who will pay the compensation✓
• d.the broker's license number and the bond amount

Nebraska requires written consent to dual agency before the licensee acts, and then, for a specific property, written confirmation by the parties of the dual agency status and of who pays compensation, given before or at the time the purchase contract or lease is entered. Cite: Neb. Rev. Stat. 76-2422(4).

A Nebraska licensee working as the seller's agent with an unrepresented buyer must give that buyer a written disclosure stating:

• a.that the licensee is the seller's agent, not the buyer's✓
• b.the commission split with any cooperating brokerage
• c.the lowest price the seller has said is acceptable now
• d.that the buyer should retain separate legal counsel

Before engaging in licensed activity with an unrepresented customer, the seller's agent or subagent must give the customer a written disclosure saying the licensee is an agent for the seller and not for the customer, plus a list of the tasks the licensee may perform with the customer. Cite: Neb. Rev. Stat. 76-2421(3).