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Steve’s Blog
Can a Buyer Waive Their Rights to Remedies Under NRS 113 – Seller’s Real Property Disclosure Form (“SRPD”) ?
THIS ARTICLE FROM APRIL 2013 IS RE-POSTED BY PERMISSION OF THE AUTHOR. Attorney Darren Welsh, Esq. April 24, 2013 Darren Welsh Blog – Berkshire Hathaway HomeServices, Nevada Properties Waiving Your Rights in a Residential Sale in Nevada The Nevada Seller’s Real...
What’s the Difference Between NRED Advisory Opinions, Informational Bulletins, & Position Statements?
Advisory Opinions Generated in response to a petition filed with the Division Administrator. Advisory opinions are intended to provide information concerning the applicability and to clarify potential confusion regarding specific statutory provisions, agency...
NEW Continuing Education (CE) Requirements
The Nevada Real Estate Division recently published INFORMATIONAL BULLETIN #36. This Informational Bulletin outlines the NEW Continuing Education (CE) Requirements for Licensees whose license expires ON or AFTER October 31st, 2021. 36 hrs. CE Salesperson renewal: 3...
Can a Nevada Real Estate Licensee Be Paid Their Commission Directly From Escrow?
Let's examine NRS 645.280(2) "A real estate broker-salesperson or salesperson shall not be associated with or accept compensation from any person other than the broker or owner-developer under whom he or she is licensed at the time of the real estate transaction." ...
Dangers of the Double Escrow – Part 1
By Scott A. Marquis, Esq. Scott A. Marquis is a shareholder with of the law firm, Marquis Aurbach Coffing. He is recognized on the Mountain States Super Lawyers list, and has an AV Rating from Martindale-Hubbell. Scott can be reached at (702) 382-0711 or by visiting...
Industry Update w/ Steven Kitnick
Recently I was a guest on the Wandering But Not Lost Podcast with Jan O’Brien. We had a conversation on the current market conditions and discussed what has been trending over the past month and where things may be headed.
Nevada Real Estate Division Licensing Guidance
License Renewals Due in May 2020 and Beyond To Licensees: All licenses, certificates, permits, and registrations due in May 2020 and beyond must be renewed in the month they are due. There are no additional extensions. Processing of renewals and all other licensing...
Steve’s News Bulletin – Education, License & Permit Renewals, NRED Announcements
Live instruction now includes method(s) of course delivery where the instructor and the students interact in real-time, either at the same physical location (classroom instruction is where the instructor is alive and the student is alive and both instructor and...
Real Estate Division FAQ re: CE class extension, license renewal extension, new license applications, transferring brokerages, etc.
I have been receiving numerous emails, texts, and phone calls regarding the recent Nevada Real Estate Division announcements. Here's some answers to your questions. 1. Licensees renewing in March and April must still pay their renewal fees online in the month it is...
Can I be paid my commission from my previous broker after I move to a new broker?
I asked Chief Compliance/Audit Investigator at the Nevada Real Estate Division Jan Holle to offer his opinion on whether a licensee may be paid commission owed to them by either their previous broker or their new broker. I also asked him to comment on brokers who have...
House Flipping in Las Vegas
https://youtu.be/x1SX39KMECE There are more cases of consumers going after these Real Estate Agents who are either part of the LLC or some type of the arrangement worked out with them. What the consumer needs to know is that it might be a buried on them because these...
Should I Use a Licensed Contractor?
https://youtu.be/BPqY-zjadtg
Fiduciary Duty (Segment 1) Personal Property (Segment 2)
https://youtu.be/bvBc1q8qStY
Do I need 36 CE hours or 24 to renew my license in January 2020?
24! SB230 was effective July 1, 2019, however, “the Division anticipates the Commission will adopt regulations that prescribe the standards for the continuing education by December 2019.” “If the Commission adopts regulations in December 2019, then by...
What happens if I misplace my CE Certificate?
If you misplace your CE certificate you must contact the school, the course sponsor, or the instructor who presented the course and request a duplicate certificate. The Division does not maintain copies of CE certificates. We recommend you scan and save a copy of your...
Is my education history as reflected on “My Account” on the Division’s website proof of completion of my education requirements?
NO! The education history reflected on your My Account on the Division's website is not proof of completion and should be used for reference ONLY! You are required to submit copies of your Continuing Education (CE) certificates to the Division upon renewal, regardless...
Is a broker required to submit an annual Nevada Real Estate Division Form 546A even if the broker does not provide property management services AND does not maintain a property management permit?
According to Jan Holle, Chief Compliance/Audit Investigator for the Nevada Real Estate Division, "Yes. Every broker has to fill out either Form 546 or 546A. Technically, neither form has anything to do with property management or whether a broker has a permit or not....
I’m a Nevada real estate salesperson. Does the Nevada Real Estate Division require me to maintain any real estate transaction documents or is that solely the responsibility of the broker?
According to Jan Holle, Chief Compliance/Audit Investigator for the Nevada Real Estate Division, salespeople and broker salespeople are required to submit transaction documents within the required time frame to their broker that will ultimately make up the broker's...
Which documents does the Nevada Real Estate Division require a broker to maintain in every residential transaction files?
You'll find your answer on page 20 of 54 in the reference manual published by the Education Section of the Nevada Real Estate Division. Click on: TRUST FUND ACCOUNTING AND RECORD KEEPING FOR NEVADA BROKERS.
Avoiding Fixtures & Personal Property Disputes
A primary responsibility of a real estate licensee is to prepare a Residential Purchase Agreement (“RPA”) that reflects “a meeting of the minds.” In today’s vernacular that means having everyone “on the same page.” The listing agent sets the ball in motion...
Is a Broker Required to Have a “hard copy” of NRS 645 & NAC 645 in their Office?
I was recently asked whether I was aware of any legal authority that required a real estate broker to have a "hard copy" of NRS 645 and/or NAC 645, along with any other pertinent and relevant NRS / NAC chapters in their real estate office. I contacted Mr. Jan R....
Can an agent send out holiday cards to past clients offering money to them if they refer a prospect to the agent?
According to Nevada Real Estate Division Chief Compliance/Audit Investigator Jan Holle, "As long as payment is not contingent on the referral closing a transaction, then it would be okay. Agents pay for leads all the time... Zillow, etc." Note: Paying an unlicensed...
Is a Licensee Who is Solely a Referring Agent Required to Complete a Duties Owed Form
Old habits are hard to break. Education may help. Let's examine the issue. Some property managers continue to do things the same old way. Uninformed property managers are still requesting and requiring a licensee, who is simply acting as a referring agent, to...
Does the Broker Need a Property Management Permit for the Brokerage to Conduct Property Management Activities?
NO! According to colleague Forrest Barbee, "the broker may hire a qualified person who maintains an active property management permit to either act as broker of the property management activities or appoint a qualified person as the designated property manager (see: ...
What is Considered to be a Completed Loan Application?
Let's examine the Greater Las Vegas Association of REALTORS ("GLVAR") Residential Purchase Agreement ("RPA") (Rev. 06/17). On page 1 of 11 paragraph 2: Additional Financial Terms & Contingencies: A. New Loan Application and continuing onto page 2 of 11 it asks...