Real Estate Practice in Nevada
Nevada practice includes handling client money through broker trust accounts and delivering a statutory seller's real property disclosure. This chapter covers trust funds and the seller disclosure form.
Trust Accounts and Client Money
Client money such as earnest money must be handled through the broker's trust account and kept separate from the broker's own funds; NRS 645 prohibits commingling. A salesperson who receives client money must deliver it to the supervising broker for handling under the broker's direction. Misusing or converting trust money is among the most serious violations of Nevada license law.
Seller's Real Property Disclosure Form
Under NRS Chapter 113, a seller of residential real property in Nevada must complete and deliver to the buyer a Seller's Real Property Disclosure Form describing known conditions and defects of the property. The disclosure reflects the seller's actual knowledge and is not a warranty or an inspection. Licensees must not assist a seller in concealing known material defects.
Advertising and Honest Dealing
Advertising must be truthful and must be conducted under the supervising broker; a salesperson may not advertise property independently of the broker. Licensees must avoid misrepresentation and disclose material facts. Accurate, broker-supervised advertising protects consumers and reduces the licensee's exposure to discipline under NRS 645.
State-specific details
State exam facts
- State regulator
- Nevada Real Estate Division (NRED)
- Exam vendor
- Pearson VUE
- Prelicensing education
- 120 hours (45 principles + 45 law + 15 contracts + 15 agency)
How many prelicensing hours does Nevada require to become a real estate agent?
Since October 1, 2021, Nevada requires 120 hours of approved pre-licensing education for a salesperson license: 45 hours of Real Estate Principles, 45 hours of Real Estate Law (including at least 18 hours of Nevada law), 15 hours of Contracts, and 15 hours of Agency.
Who licenses real estate agents in Nevada?
The Nevada Real Estate Division (NRED), within the Department of Business and Industry, licenses real estate salespersons and brokers. NRED uses Pearson VUE to deliver the licensing exams.
How is the Nevada salesperson exam structured?
The Nevada salesperson exam is delivered by Pearson VUE with a national portion and a Nevada state portion, scored separately; you must pass both. Confirm the current scored-question counts in the Pearson VUE Candidate Handbook.
Sources: https://red.nv.gov/content/real_estate/salesperson/initial_license_requirements/, https://home.pearsonvue.com/nv/realestate
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