Steps to get a real estate license in Nevada
The real estate market in Nevada is considered to be evolving in such a way that it will provide plenty of opportunities for both new and existing investors. Becoming a real estate broker in Nevada means you will be able to benefit from the positive trends and opportunities in the residential as well as commercial real estate. The combined value of the U.S. Housing Market is estimated at $33.6 Trillion with Las Vegas, NV contributing a total market value of $209 billion. The big question is how do you fulfill real estate agent license requirements in Nevada and what steps should you take towards real estate business registration in Nevada? Let us look at some of the important aspects to consider.
Choose area of real estate (Commercial/Residential)
If you are planning to become a real estate agent in Nevada then one of the first aspects to consider in choosing is the area of real estate you want to specialize in. The commercial and residential real estate in Nevada have their pros and cons but both the markets have growing opportunities for a real estate broker in Nevada. It is also important to consider the advantages each area may provide. For example, a commercial property may garner a higher rate of return as compared to a residential property although commercial properties require customers to make a huge up-front investment vis-à-vis residential properties. Hence, it is important to make an informed choice.
Register for the 90 hours of required education
One of the primary real estate agent license requirements in Nevada is to provide proof of pre-licensing education in the form of certificates or certified transcripts. This means that you will have to register for and complete 90 hours of required education. According to the Nevada real estate division, you may require 64 semester college credits as follows:
- 45 hours or 3 college credits in Real Estate Principles
- 45 hours or 3 college credits on Real Estate Law and this must include at least 18 hours in Nevada law studied at a Nevada school
- 45 hours or 3 college credits in a Real Estate Appraisal course
- 45 hours or 3 college credits in a Broker Management course if you want to continue as a real estate broker in Nevada
- 15 college credits in any other real estate related courses like economics, business, accounting, management, marketing, and finance
One of the initial real estate agent license requirements Nevada is “Fingerprint Cards”. You will be required to submit one fingerprint card along with a money order or a cashier’s check made payable to the “Department of Public Safety”. Alternatively, you can also use the verification form issued by any Nevada approved Fingerprint Vendor.
Take the Nevada Real Estate Salesperson Licensing Exam
In order to become a licensed real estate broker in Nevada or a real estate salesperson in the state you need to take the Nevada Real Estate Salesperson Licensing Exam. You have to pass the exam as it will confirm that you have achieved the required minimum level of real estate knowledge required to become a real estate agent in Nevada. The knowledge relates to practices, principles, regulations, and statutes pertaining to Nevada real estate. The exam is conducted by PSI Services LLC on behalf of Nevada Real Estate Division, Department of Business and Industry. You can download the Candidate Information Bulletin to get an insight into the examination registration, fees, and scheduling procedures.
Choose a real estate broker
Before you can actually become a real estate agent in Nevada, you will need to work under a real estate broker for a specific period of time. This experience will help you in getting your license as their signature may be required on the licensing application. There are several real estate companies in Nevada to choose from and you can make a checklist of brokers based on the type of real estate market you want to specialize in.
Apply for Your Nevada Real Estate Salesperson License
Once you have cleared the real estate broker in Nevada or salesperson exam, you can apply for a real estate salesperson license. The form 549 is used for applying for this license and contains all necessary information pertaining to real estate agent license requirements in Nevada. Once the form has been duly filled, you will be required to submit it with the Real Estate Division, Department of Business and Industry, at 3300 W. Sahara Ave., Suite 350, Las Vegas, Nevada 89102.
Gather all your forms
It is important to understand that if you are starting your own business then you will not only have to submit an application as mentioned under real estate agent license requirements Nevada but you also have to submit one for starting a new business like the Nevada state business license application. It is important that you have all the necessary applications in place so that the submission process is streamlined and simplified.
Set up your business legally
There are different forms of businesses you can establish in the state of Nevada. You can form a sole proprietorship firm or even a business corporation or limited liability company. The type of business you want to form will depend on your requirements and IncParadise as one of the top registered agents can help you with the process of real estate business registration in Nevada. We are expert incorporation specialists and have helped more than 10,000 new businesses with incorporation or registration in the country. We are well versed with the Nevada state laws, real estate business laws, and real estate agent license requirements in Nevada. Our new business registration process is quick, easy, and will save you time!
Register your real estate business in Nevada today!
Get Nevada state business license
It is mandatory for all Title 7 business entities to file for the Nevada state business license with the Secretary of State pursuant to Chapter 76 – State Business Licenses, 2015 Nevada Revised Statutes. If you are planning to become a real estate agent in Nevada and if your business type includes domestic or foreign corporation, limited partnership, limited liability companies (LLC), limited liability partnership (LLP), limited liability limited partnership (LLLP) and business trusts then your business will be considered as a Title 7 entity. The Nevada Secretary of State (SOS) provides detailed information on real estate business registration in Nevada as well as business licensing through their FAQs and other related sections. The application for Nevada state business license is a mandatory requirement and is offered as a part of our incorporation process. Since a state business license has to be renewed each year by all businesses, we can help you to be compliant with this Nevada requirement.