How to Become a Licensed Real Estate Agent in Nevada
Nevada License Basic Requirements
Nevada requires the following for those wanting to pursue a career as a real estate salesperson in the state:
- You should be at least 18 years of age
- You should complete 45 hours or three college credits of Real Estate Principles
- You should have 45 hours or three college credits Real Estate Law, including 18 hours of Nevada law
- If you have pre-licensing education from another state, submit proof as given in the reciprocity document
- Submit two government or law enforcement agency-processed fingerprint cards not older than a year
- Pass the state and national exam within a year of completing the course
NV Real Estate License Costs
- Real Estate Agent Education in Nevada: $300 – $700 (approx.)
- Exam Fee: $125
- Real Estate Commission
- You can join an online real estate school such as Real Estate Express to prepare for real estate agent education.
- Real Estate Commission
- Exam Locations: Elko, Las Vegas, Reno
- Additional resources
STEP 1: Sign up For Pre-license Education
For pursuing a career as a real estate salesperson in Nebraska, you need to get a license from the Nevada Real Estate Commission. The commission requires you to be at least 18 years of age and complete 90 hours of pre-licensing education from one of the Commission-approved real estate schools. The courses cover topics you will need an understanding of the work as a salesperson.
Only on completion of the course can you apply for the license. The course has two parts to it, 45 hours or three college credits of Real Estate Principles and 45 hours or three college credits of Real Estate Law, including 18 hours of Nevada law. If you have completed your pre-licensing education from another state, it will be accepted in Nevada.
You can do an online course like the one offered by Real Estate Express or from a vendor who provides online and live classes. The course typically costs anywhere between $350 and $650.
Meanwhile, you need to submit two fingerprint cards that have been processed by a government or law enforcement agency in the previous 12 months.
At the end of the course, you must also pass a state and national exam and apply for the license within a year. Register with Pearson VUE to schedule your test.
If you have a law degree, submit the proof of completion by a certified official transcript from an accredited institution. You will be required to complete only 18 hours of Nevada Law.
STEP 2: Apply Completed Application
Where to Apply
The Nevada Real Estate Commission is the agency to which you must apply to get your license. You can apply online by visiting their site or download the form, filling it duly and delivering by mail or hand along with the necessary supporting documents to:
Nevada Real Estate Division
3300 West Sahara Avenue
#350 Las Vegas, NV 89102
You must pay a fee of $125 with the application and submit proof of completion of the pre-licensing course, the background check report and documents about any disciplinary action taken against you in any of the states or jurisdictions.
If you are not a Nevada resident, then you must submit a form for that. If you currently hold or have held in the past a real estate license from any of the states, include the history certified by the state where you were licensed. It should be dated less than three months from the acceptance date of your Nevada license application. If it’s 10 years since your license expired, you are not required to submit any documentation.
When applying for the Nevada real estate license non-refundable fee, you must pay $125 by check or cashier’s check. You can also send the fee by money order. It should be made payable to Nevada Real Estate Division. If you are handing the form in person, you can pay the exact amount by cash or you can make a credit card with a 2% convenience fee.
For the pre-license exam, you must pay $100 regardless of whether you write for both portions or only one. It must be paid at the time of reservation and can be by credit card, debit card or an electronic check. These fees are also non-refundable and non-transferable and cannot be paid at the venue. The fees for each retake is also the same as the original examination fee.
Proof of Pre-licensing Requirements
The following are required as part of pre-licensing at the time of application:
- A completed and notarized Real Estate License Application Form 549
- A fee of $125 fee
- A fingerprint card from an approved vendor and processed by a government or law enforcement agency in the last year
- A pass scorecard report for state and national examination in the last one year
- Course completion certificate or certified college transcript
- A notarized ‘Consent to Service of Process’ Form 656 for all non-residents
- A certified license history not older than 90 days from the date you submit your application date obtained from the state where you are licensed
- Duly fill the Nevada Department of Public Safety waiver form included with the application
STEP 3: Pass the State License Exam
The Nevada Real Estate Salesperson examination is conducted by Pearson VUE. You must register and schedule an appointment beforehand and be present at the venue at least 30 minutes before time for verification purposes.
The exam consists of two portions of 120 questions to be completed in 240 minutes. The general or national portion contains 80 questions and is for 150 minutes. For the state portion, you will be given 90 minutes to attempt 40 questions. You will get your results at the end of the exam.
To pass in the exam you must score 75% of the questions correctly. If you do not pass, you will be given diagnostic information for each content area that you answered correctly. This will help you prepare for a retake.
If you pass in one part and fail in the other, you can retake the test for the failed part anytime in the next year. After that, if you still haven’t passed in the failed part, you will have to retake both portions of the examination.
You need to wait for 24 hours before scheduling your reexamination and must do it online before paying the fee of $100.
Prepare well and devote at least 45 minutes to an hour every day. Study in groups with your colleagues to discuss and reinforce learnings. Taking notes and highlighting key points will strengthen your understanding of the topics.
Topics Covered in the Course
- Real Property Characteristics, Legal Descriptions and Property Use
- Forms of Ownership, Transfer and Recording of Title
- Property Value and Appraisal
- Real Estate Contracts and Agency
- Real Estate Practice
- Property Disclosures and Environmental Issues
- Financing and Settlement
- Real Estate Math Calculations
- Understanding and Recasting Financial Statements
- Business Valuation: Determination of Most Probable Selling Price
- Structuring Listing and Purchase Offer Agreements
- Additional Terms/Conditions of Business Acquisition Transactions
- Ethical Issues Specific to Business Brokerage
- Nevada Laws and Regulations
Time Given to Take the Test
If you are taking both portions of the test you will be given 240 minutes or 4 hours to attempt 120 questions. In case you are writing only the general or national portions, you will have to complete 80 questions in 150 minutes. For the state portion, you can take up to 90 minutes for 40 questions.
Report to the test center at least 30 minutes early so that the administrator there can review your identification and other documentation. Once inside, you will be given time to get familiar with the examination through a tutorial on the PC, which will not be counted as the time taken for the exam. You will attempt 5-10 questions per section as part of the practice. The scores will not be counted with the final score.
Only after you become familiar with the PC and begin the exam will your time start. It will expire at the end of the specified time. You will get your scorecard at the venue immediately after the exam.
What to Bring to the Exam
When you go for your exam on the scheduled day at the scheduled time, you must take with you two types of signature identification. One of them must have been issued by the government and should have your photo. This could be your driver’s license or learner’s permit and the like. The secondary identification must contain a valid and visible signature and can be a credit or debit card or a US Social Security card.
Both should be active and current. If it has expired and is in the grace period granted by the state to allow the person to renew the ID, Pearson VUE will consider it invalid. If you do not present these identification proofs at the venue, you will not be permitted to write the exam and will forfeit the examination fee as well.
STEP 4: Applying and Obtaining Your License
On completing the two portions of the Nevada Real Estate Examination successfully, you must submit application form 549, duly filled within one year. You must enclose one fingerprint card with the fee or a verification form issued by an approved fingerprint vendor. Attach the original state and national passing exam results, a fee of $125 and proof of completing pre-licensing education such as certified transcripts or certificates.
You can apply online or mail or hand deliver the printouts.
You will be given a number and you can track the status of your license online.
STEP 5: Finding a Brokerage
In Nevada, though you are required to have a broker supervising your education, the broker is not mandated to employ you once you get your license. On receiving your license, based on mutual understanding and convenience, you may be employed by that broker or you may have to find an employer.
Going Solo or Not
At this point, you may be tempted to become an independent agent. Real estate business has the potential to generate good income but it is a cyclical business and needs much perseverance to succeed in. Also, lead generation needs years of practice and networking. Unless you already come with some background in this aspect, it will take you a few years to be able to build such a contact base.
By being associated with a brokerage firm, you can establish yourself faster while you can practice all that you learned in the classroom.
For this, you must find the right kind of employer. Some of the factors you must consider are:
- Their reputation
- Compensation model
- The training and support they provide
Scout around different neighborhoods and talk to other salespeople to get an idea about the reputation and performance of the different real estate firms. This will give you an idea of who is doing well, their approach and standing in the market. Interview the firms and get their policies on compensation, training and lead generation in writing so that you can compare and choose the one that is ideal for you. Working with a well-reputed firm will enhance your standing in the market apart from giving you other advantages.
A Franchise or Independent Brokerage
Here it may be worthwhile looking at the pros and cons of the size of operations of the real estate firm too. A franchise of a national player will have a wider reach across the country and have better access to other support systems such as technology, administration and training.
However, they may not have an equal reach in all states. So you must find out if they are just as popular in Nevada as well. You may find them a little impersonal and also their process orientation may be constricting of creativity.
A boutique firm may be smaller but may be doing very well in the local market. They may give you greater freedom and an informal environment that nurtures you. However, they may not be able to provide you with access to technology and training like a franchise can.
The Commission Split
Commissions are the lifeline for real estate agents. Knowing how the brokerage firm splits the commission is an important factor in deciding on which one to work for.
Find out also if they charge you desk fees. Desk fees refer to the rent they charge you for the space and support they provide you. Remember, you may not be earning a commission every month and sometimes for months together. So if you have to pay a high desk fee, then you may have to dip into your savings.
Rarely, you may be offered a salary with benefits too. This may require you to work as per the responsibilities assigned to you by your employer and restrict your independence.
Read the terms of employment closely and ask questions to make sure you are not ending up paying the brokers more than you are earning.
STEP 6: Post-learning Requirements
To renew your license, Nevada Real Estate Commission requires you to complete 24 hours of continuing education, of which you have to do 12 hours of core credits and 12 elective credits. This should be done within two years of getting your license.
At least 12 hours should be live instruction. If you’re looking for an authoritative source to teach you the course material, you should take a look at The CE Shop—they offer in-depth packages that help you grasp the finest details of the course material or even individual courses that help you understand specific aspects of the course material you may need help with. Individual courses start at $29 and the full-fledged packages start at $89.