Business Broker Permit

 

/Key is Nevada's SOURCE for Business Broker Education

Click here to access the Business Broker Permit Continuing Education Page

 

Scroll Down to Review the Classroom and Home Study / Online Options

The Nevada Legislator has implemented educational requirements to sell a business. Use this link to define and constitute the sale of a business: http://www.leg.state.nv.us/NRS/NRS-645.html#NRS645Sec0075

Much like the property management permit, the business broker permit will be an attachment to an existing Nevada Real Estate License. Real Estate licensees are not required to have the permit as of yet to sell a business, (real estate licensees without any such permit can still sell a business until January 1 2007) but this permit will be required to sell a business after January 1 2007. Additional legislative changes have been made in early 2007. Please use this link to view these early 2007 changes: 

http://www.red.state.nv.us/Regulations/E645-01.pdf

The Business Broker Permit exam is held at the PSI testing center.

Click here to view the PSI testing information applicable to the Business Broker exam.

The Business Broker Course is offered through  online/ home study course work.

Click here to view the PSI testing information applicable to the Business Broker exam.

Click here to view the course content in detail

ONLINE / HOME STUDY OPTION: The Business Broker Home Study and Online course provides the student with all of the content needed to prep for the Nevada Business Brokerage examination. The course material is presented in a physical copy while the course completion test is taken online. Students must review the course content and curriculum for a minimum of 3 days prior to testing out of the course to receive the course certificate.

The Course tuition of $199 (Tuition special. Normal tuition is $299) includes the student workbook that will be used throughout the duration of the program as well as the online final completion / certificate exam. Course materials are automatically shipped to the student.

Online Enrollment Available:

This enrollment is for the Home Study and Online Business Broker Option

 

Use the following links to view state applications for business broker permit application:

http://www.red.state.nv.us/forms/624.pdf

http://www.red.state.nv.us/forms/624A.pdf

 

Important to note: Prospective Business Broker Permit holders must obtain a new set of finger prints and apply for another back ground check. (This can be completed at the time of testing / applicants completing a finger prints and background check information for the NV Real Estate Division within the last 12 months are exempt from a new finger print and background investigation)

http://www.keyrealtyschool.com/Electronic_Fingerprints.pdf

This Section contains helpful information pertaining to the Statute and Regulation surrounding the Nevada Business Broker permit.

Additional legislative changes have been made in early 2007. Please use this link to view these early 2007 changes: 

http://www.red.state.nv.us/Regulations/E645-01.pdf

NRS 645.0075  “Business broker” defined.  “Business broker” means a person who, while acting as a real estate broker, real estate broker-salesman or real estate salesman for another and for compensation or with the intention or expectation of receiving compensation:

      1.  Sells, exchanges, options or purchases a business;

      2.  Negotiates or offers, attempts or agrees to negotiate the sale, exchange, option or purchase of a business; or

      3.  Lists or solicits prospective purchasers of a business.

      (Added to NRS by 2005, 646)

Use this link to examine the law in context:

http://www.leg.state.nv.us/NRS/NRS-645.html#NRS645Sec0075

NRS 645.863  Permit to engage in business as business broker: Persons eligible; requirements; continuing education; expiration; renewal; regulations.

      1.  A person who is licensed as a real estate broker, real estate broker-salesman or real estate salesman pursuant to this chapter may apply to the Real Estate Division for a permit to engage in business as a business broker.

      2.  An applicant for a permit must:

      (a) Provide proof satisfactory to the Real Estate Division that he has successfully completed at least 24 hours of classroom instruction relating to business brokerage; and

      (b) Comply with any other requirements for the issuance of a permit established by the Commission.

      3.  A permit expires on the same date as the license of the holder of the permit expires. A permit may be renewed at the time that a person licensed pursuant to this chapter applies for renewal of his license.

      4.  An applicant for the renewal of a permit must:

      (a) Provide proof satisfactory to the Real Estate Division that he has successfully completed at least 3 hours of continuing education required for the renewal of his license pursuant to NRS 645.575 in an approved educational course, seminar or conference relating to business brokerage.

      (b) Comply with any other requirements for renewal of a permit established by the Commission.

      5.  The Commission shall adopt such regulations as are necessary to carry out the provisions of this section. The regulations must include, without limitation, provisions that establish:

      (a) Requirements for the issuance or renewal of a permit.

      (b) Fees for:

             (1) The issuance or renewal of a permit;

             (2) The cost of any examination required of an applicant for a permit, including, without limitation, any costs which are necessary for the administration of an examination; and

             (3) The cost of any investigation of an applicant for a permit.

      (c) Standards of education for the approval of a course of instruction to qualify an applicant for the issuance or renewal of a permit.

      (Added to NRS by 2005, 646)

      NRS 645.865  Permit to engage in business as business broker: Requirements for certain organizations.

      1.  To engage in business as a business broker in this State:

      (a) A partnership shall designate one of its members;

      (b) A corporation shall designate one of its officers or employees;

      (c) A limited-liability company shall designate its manager; and

      (d) A real estate broker who conducts business as a sole proprietor shall designate himself or a person who is licensed under the real estate broker,

╩ to submit an application for a permit pursuant to NRS 645.863. The partnership, corporation, limited-liability company or sole proprietor shall not engage in business as a business broker unless the person so designated has been issued such a permit.

      2.  If the person designated to apply for a permit meets the qualifications for a permit set forth in NRS 645.863, the Real Estate Division shall issue to that person a permit to engage in business as a business broker on behalf of the partnership, corporation, limited-liability company or sole proprietor.

      3.  A person to whom such a permit has been issued may act as a business broker pursuant to the permit only on behalf of the partnership, corporation, limited-liability company or sole proprietor, and not on his own behalf. If that person ceases to be connected or associated with the partnership, corporation, limited-liability company or sole proprietor, the partnership, corporation, limited-liability company or sole proprietor shall designate another person who meets the qualifications for a permit set forth in NRS 645.863 to hold the permit on behalf of the partnership, corporation, limited-liability company or sole proprietor.

      4.  Any member, officer or employee of a partnership, corporation, limited-liability company or sole proprietor, other than the person designated as the business broker pursuant to subsection 1, who wishes to engage in business as a business broker must apply in his own name for a permit. Pursuant to such a permit, the member, officer or employee of a partnership, corporation, limited-liability company or sole proprietor may act as a business broker only as an officer, agent or employee of the partnership, corporation, limited-liability company or sole proprietor, and not on his own behalf.

      (Added to NRS by 2005, 647)

      NRS 645.867  Designated business brokers: Requirements; qualifications; duties.

      1.  If a real estate broker does not hold a permit to engage in business as a business broker but intends to have the activities of a business broker conducted at an office, the real estate broker must:

      (a) Appoint a person, who has the qualifications required by this section, as the designated business broker for the office to supervise the activities of a business broker conducted at the office; and

      (b) Submit notice of the appointment to the Division.

      2.  The designated business broker for an office must be a natural person who:

      (a) Holds a license as a real estate broker or real estate broker-salesman;

      (b) Holds a permit to engage in business as a business broker; and

      (c) Has 2 years active experience, within the 4 years immediately preceding the date of the appointment, in conducting the activities of a business broker in the United States as a licensed real estate broker, real estate broker-salesman or real estate salesman.

      3.  While acting as the designated business broker for an office, the person:

      (a) Must comply with all applicable provisions of this chapter; and

      (b) Is subject to all the remedies and penalties provided for in this chapter.

      (Added to NRS by 2005, 647)

Use this link to examine the laws in context:

http://www.leg.state.nv.us/NRS/NRS-645.html#NRS645Sec863

 

Feel free to contact the school admissions office with additional questions.

Nevada Office: 800 472 3893

 

The following list notes all texts recommended to study in better preparation for the Nevada Business Broker Permit exam:

 

Nevada Administrative Code, Chapter 645 (2006)
 
Nevada Revised Statutes, Chapter 645 (2006)
 
Pratt, S.P., Reilly, R.F., & Schweis, R.P. (1998). Valuing Small 
Businesses
and Professional Practices, 3rd Ed. New York: McGraw Hill.
 
Tatum, Toby (2002). Making a Small Business Purchase Offer. Niantic, 
CT: RDS
Associates, Inc./Business Book Press.
 
West, Thomas L. (2002). The Complete Guide to Business Brokerage, 3rd 
Ed.
Business Brokerage Press.
 
West, Thomas L. and Jones, J.D. (1999).  Handbook of Business 
Valuation, 2nd
Ed. New York: John Wiley & Sons, Inc.
 
West, Tom (2006).  2006 Business Reference Guide: The Essential Guide
To Pricing a Business, 16th Ed.  Business Brokerage Press.

 

Online Enrollment Available 

If you have any questions or would like more information, please contact
Key Realty School at 702-313-7000 or 800-472-3893. The school is located on East Flamingo Road, between Pecos and Sandhill, 3650 E. Flamingo Road.

Enroll in Our Nevada Business Broker Course to Get Your Permit

 

To become a business broker, you must meet the various requirements of your state. Key Realty School provides the business broker training students need to obtain their licenses and find success in their chosen career paths. Through a combination of interactive classroom settings and top-notch instructors, we create a learning environment that enables our students to retain the information taught to them and apply it to their jobs.

 

Key Realty's business broker training comes with our guaranteed pass policy. Under this policy, students are allowed to continue with a course until they have reached the educational goals they made when enrolling in the class, whether it be to renew a license or to pass a first exam.

 

At Key Realty, we offer all our students the tools and resources they need to find their footing as a business broker. Our FAQ page, for instance, answers some of the most common questions that brokers ask. We keep all the information up-to-date with the latest laws and regulations in the state, so you can always trust the information we provide.

 

To learn more about the different opportunities and courses offered through Key Realty, you can contact us at 800-472-3893. One of our knowledgeable staff members can discuss the different steps necessary to become a broker and can help get your enrollment process started. You can also email any information requests to us at

email@keyrealtyschool.com.

 

 

 


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