Becoming a Nevada Real Estate Agent

Embarking on a new career path, especially in the dynamic world of real estate, can undoubtedly be daunting. Transitioning from familiar territory, navigating licensing intricacies, and anticipating what’s next can be a potent mix of excitement and apprehension.

However, rest assured, you’re making a strategic move. Nevada boasts a high pass rate for its real estate exams, reflecting the structured guidance and support available for newcomers. Dedication and the right resources make your journey in Nevada’s real estate industry rewarding and transformative. 

Welcome to the next chapter. Here are the steps, costs, and necessary forms to obtain your Nevada real estate license.

Nevada Real Estate licensing requirements

The Nevada Real Estate Division (NRED) is responsible for licensing, registering, and regulating real estate brokers, salespersons, real estate firms, agents specializing in rental locations, time-share salespersons, and developers.

Additionally, NRED forms the regulations that govern professional behavior and standards within the Pennsylvania real estate industry, including the extensive licensing process.

The Nevada real estate licensing process ensures prospective agents are knowledgeable, trustworthy, and have the skills to assist Nevadans with their most valued investments: Their homes.

Before starting, Nevada has prerequisites all applicants must meet, including:

• Must be 18 years of age
• Possess a Social Security number
• Pass a background check

With the basic requirements met, it’s time to tackle the complicated steps.

Pre-Licensing Education

The first step to selling real estate in Nevada is completing 120 hours of pre-licensing education. Nevada’s education requirements are nearly double that of many US states.

Classes and college credits include:

• 45 hours (or 3 college credits) in Real Estate Principles.
• 45 hours (or 3 college credits) in Real Estate Law (with an 18-hour focus on Nevada law).
• 15 hours (or 1 college credit) on contracts in real estate transactions.
• 15 hours (or 1 college credit) on agency, which delves into the foundation of broker-agent relationships and risk reduction.
• Note: If licensed out-of-state, you can skip the last two courses!

Classes must be through approved educators, and all college credits must be from an accredited school.

Fingerprinting

Understanding real estate principles and ethics is essential in the licensing process. However, it’s equally important to demonstrate that you’ve upheld these standards in life, which requires a criminal background check to confirm.

Authorized fingerprinting vendors use live scans, making for an expedited process, and only a receipt is required in the application. A fingerprint card will be accepted if taken by a law enforcement agency. Additional fees apply.

Fingerprinting can be completed after passing the real estate exam. However, if there are concerns about your background, it’s best to address them early.

The Nevada Real Estate Exam

With a complete pre-licensing education and a clear background, it’s time to apply for the real estate exam with Pearson Vue.

The Nevada real estate exam consists of a State and National exam totaling 120 questions. Applicants have 240 minutes to pass the exams with a 75% minimum score.

Nevada Real Estate Exam details:

• Number of Questions: 120 multiple-choice questions: 80 National and 40 State
• Passing Scores: A minimum score of 75%
• Question Types: multiple-choice, testing your understanding of real estate principles and laws
• Duration: 240 minutes. 150 minutes National and 90 minutes State
• Cost: $100 for one or both exams
• Real Estate Exam Booklet 

Applicants can opt for the at-home exam through Pearson Vue, but extra steps are required.

Find a Sponsor Brokerage

You crushed the big real estate exam. Well done! Now it’s time to secure a new business home and find a brokerage. Your chosen broker must sign the real estate application to acknowledge their intent to employ, so be sure to bring it with you.

Before rushing out to the nearest realty firm, it’s vital to consider your future career goals and path.

Choosing Your Specialty

Real Estate is a field with diverse possibilities. Reflect on whether your passion lies in helping families find their dream homes, assisting businesses in securing the perfect commercial space, or managing properties for investors. 

Each specialty has its own set of demands and skills:

• Residential Real Estate: Focus on individual or family dwellings, selling single-family homes, condominiums, and townhouses.
• Commercial Real Estate: Specialize in business properties, including leasing and selling office spaces, retail locations, and more.
• Property Management: Manage the leasing of residential, commercial, or industrial properties for investors.

Real estate agents have the added decision of becoming a REALTOR®. Agents are not REALTORS® until joining the National Association of REALTORS®, a membership most prevalent in the residential industry that provides access to the Multiple Listing Service (MLS)® and benefits like discounted healthcare and legal support.

Finding the Right Brokerage Fit

Choosing a brokerage can significantly influence your career direction and growth. New agents should interview several realty firms and speak with local brokers for market intel.

Take advantage of platforms like Agent Nook to delve into the cultures and strengths of different brokerages. Finding a brokerage that complements your chosen specialty and supports your career goals and development will provide a better path to success.

Bring your salesperson application along. It requires a signature from the principal brokerage.

Applying For a Nevada Real Estate License

The application process for Nevada takes considerable paperwork and mailing or physically delivering it to NRED. Be sure to double-check your work by using the checklist on the application form.

Be prepared with the following information or documents:

• Education: Proof of completion for pre-licensing education
• Fingerprints: A fingerprint card + payment to the “Department of Public Safety” or verification from an approved Fingerprint Vendor.
• Exam Results: Original state and national exam results from the past 12 months.
• Prior License: Certified history of license history (if applicable)
• Fee: $140.

What’s Next After Passing Your Exams and Applying?

The anticipation begins once you’ve submitted your application and met all the requirements. Here’s a brief rundown of what to expect:

1. Processing Time: The Nevada Real Estate Division typically takes 4-6 weeks to process applications. This might vary depending on the volume of applications received.
2. Status Check: You can always check the status of your application online. Remember, patience is vital, but do reach out if you think there’s been an unusual delay.
3. Receiving Your License: Once approved, you’ll receive your official real estate license in the mail. Keep this document safe – it’s your ticket to starting your new career!
4. Continued Education: Once you have your license, the journey doesn’t end. Remember to stay updated with Nevada’s continued education requirements to keep your license active.

Bonus Permits

Property Management Permit

For managing rental properties.

• Form: Application Form 545
• Education: 24-hour pre-licensing property manager course.
• Exam: Must pass the original property manager exam within the last 12 months.
• Fee: $40.00
• Note: You must have a Nevada Real Estate license to apply for this permit. Applications for this permit will not be accepted alongside the original real estate license application.

Timeshare License

Selling timeshares can be a lucrative and fun profession. Here’s how the timeshare permit works:

• Form: Application Form 519
• Fingerprinting: Submit one fingerprint card with a cashier’s check or money order payable to the “Department of Public Safety” OR a verification form from an approved Fingerprint Vendor.
• Education: Complete a 14-hour pre-licensing timeshare course.
• Exam: You must have the original timeshare passing results.
• Fee: $215
• Background Check: Attach a copy of the background investigative report. This report should be performed by the timeshare project, project broker, broker, Developer, or resale company.

Final Thoughts

Real estate is an exciting and rewarding career. Yes, the hours of studying, stressful exams, and stacks of paperwork can seem daunting, but seeing the joy in the eyes of a first-time homebuyer when you hand over the keys to their new house makes all of it worthwhile. The commission check is nice, too. 

Start your journey today by locking in your pre-licensing education and telling friends and family your plans. Real estate is about constant self-promotion and marketing, no better time to start than now.

Welcome to the real estate world! We’re glad to have you.