Is a Broker Required to Have a “hard copy” of NRS 645 & NAC 645 in their Office?

by Steven Kitnick | Dec 2, 2017 | Broker Management, Nevada Real Estate Law, Opening a Brokerage, Real Estate Office Management, Risk Management

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....

Can an agent send out holiday cards to past clients offering money to them if they refer a prospect to the agent?

by Steven Kitnick | Sep 23, 2017 | Lead Generation, Nevada Real Estate Law, Real Estate Office Management

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...

Current Issues Under Investigation by the NRED

by Steven Kitnick | Jul 8, 2017 | Current Issues Under Investigation by NRED, Nevada Real Estate Law

Some of the current issues under investigation by the Nevada Real state  Division (“NRED”) include the following: 1)  Licensees not submitting their mid-term education or submitting mid-term education late. 2)  Brokers failing to submit their annual Trust...

New State Law Catches Up to Real Estate Practice – Delivery of Cancellation Upon Review of Resale Docs

by Steven Kitnick | Jul 3, 2017 | Nevada Real Estate Law, NRS 116 - CIC ("HOA")

SB255 amended NRS 116.4109 and now allows for the rescission (“cancellation”) of a real estate contract via electronic means after the Common-Interest Community (“CIC”) aka, “HOA” resale package has been reviewed by a Buyer.  Most...

Can an Owner of a Real Estate Co. Provide the Required Financial Statement On Behalf of the Broker?

by Steven Kitnick | Jul 3, 2017 | Licensing, Nevada Real Estate Law

Oftentimes, the broker of a real estate company is not the owner.  Nevertheless, the broker must show financial responsibility in order to be licensed as the company’s broker. In some cases, a prospective broker is unable to meet the NRED’s broker...

Can a Corporate Broker of One Company be a Broker Salesman at Another Company?

by Steven Kitnick | Jul 3, 2017 | Licensing, Nevada Real Estate Law

No. According to the NRED, a broker cannot be active as a corporate broker for one company and be issued a broker salesperson license for another company.  They must resign as the corporate broker and submit Form 504 with Section 3 completed for a status change from...