- Q What
amount of education does the state of Nevada require
before an individual can become licensed?
- A The
state of Nevada requires a person to complete
ninety hours of education before he or she can
become licensed in real estate. By no means does
this requirement state that the student must attend
90 hours of class time. This requirement means
that a student must understand the principles
and practices (including Nevada law) of real estate
before they can become licensed.
- Q How does
the state measure a students knowledge of the
principles and practices of real estate?
- A The states
testing company administers one final exam comprised
of 120 multiple choice questions. This test contains
80 questions pertaining to National real estate
principles and 40 questions pertaining to the
state of Nevada's real estate laws. The prospective
licensee must score a 75% or better on both of
these portions.
- Q
How can a student meet the ninety hour requirement
deemed necessary by the state of Nevada?
- A Key Realty
School has a number of different ways in which
the student can meet the state of Nevada's requirements,
whether it be by classroom, home study, or the
combination of both the classroom and the home
study. (See the pre licensing page for descriptions)
Whatever method of education is chosen by the
student, it is imperative that the student understands
all of the subject material before taking the
examination.
- Q Does
a licensee have to be a resident of the state
of Nevada or a citizen of the country to become
licensed?
- A No, the
licensee has to be legally capable of working
in the United States.
- Q
Can out of state licensees wave some of the Nevada
real estate educational requirement?
- A Yes,
depending on how many hours of pre licensing education
the prospective licensee took in another state.
(See
the out of state licensee page) Though the
student can wave portions of the education, they
must still take and pass both portions of Nevada's
exam. Both portions of the exam must be taken
unless the national exam has been taken in any
other state in the union with in the last year.
- Q
Where is the Nevada real estate exam administered
and how often is it given?
- A
Any PSI testing center. Psychological Services
Incorporated is the state of Nevada's chosen testing
company. There are four locations in Nevada (two
in Las Vegas) and many more across the United
States. The test is administered two times a day
6 days a week. (Just call to schedule about 3
days in advance) This availability of testing
is possible because PSI administers most state
licensing exams, therefore exams for management,
appraisal or other licensing might be given
at the same time a real estate exam is administered.
- Q Must
a prospective licensee find a broker to work under
before getting licensed?
- A NO, It
is strongly recommended that students chose a
broker that best suits there independent needs
after attending the pre licensing education program.
Key Realty School has several school counselors
who assist in finding the right brokerage company. The
licensee must chose a brokerage before they begin
the practice of real estate. Nevada allows one
year from the date that the student passes the
licensing exam to make the decision of which brokerage
to conduct business under.
- Q What
are the costs of the examination and the license?
- A The exam
is $100 (for both portions) payable to the PSI
testing company. The license is a total of $125
payable to the state of Nevada Real Estate Division. (Broker
or Broker Salesperson is $145)
- Q Are
there additional fees that I have to pay outside
of my education, test and licensing fee?
- A NO. Many
licensees elect to join memberships or brokerage
marketing plans which can better the licensees
success ratio. These memberships and marketing
plans may have fees, but no additional fees are
required by law to begin your practice as a real
estate licensee. All additional fees are paid
for at the sole discretion of the licensee.
- Q Do I
have to join the GLVAR?
- A NO, but
many licensees elect to join the local Association
of Realtors to obtain access to the MLS and other
systems which may make the licensee more marketable.
-
Click here to examine the fees associated with
membership to the local Association.
- Q How competitive
is the Nevada real estate market compared to other
states?
- A Many
successful licensees in other states have sought
refuge in the savvy Nevada real estate marketplace.
A senior member of the NAR was quoted when speaking
about the Nevada real estate market with the following
statement: "If a real estate licensee can
not succeed in Nevada, they wouldn't be successful
in real estate anywhere in the United States.
From a licensees prospective, its the easiest
real estate market in the country."
- Q What
are the differences between all of the pre licensing
courses offered?
- A Key Realty
School's pre licensing course has many benefits.
The instructors chosen to teach the pre licensing
courses are among the best in the country. (Evaluations
taken from students with out of state licenses)
The materials used to help students better retain
the information are all designed by Key Realty
School. The books and materials are always the
most current laws and practice of real estate
because Key Realty School publishes all of its
own teaching material. All workbooks and study
aids are specifically designed for Nevada testing
and licensing. Key Realty School is proud to say
that over 15,000 students have received their
Nevada real estate education through its superior
instruction.
- Q How many
Nevada Real Estate licensees are there currently
in Nevada? and how large is this figure in relation
to other states?
- A There
are 19,384 licensees as of January 1 2006 (This
figure was taken from the NRED database) California
has 298,178 licenses as of January 1 2006 (This
figure was taken from the CDRE database) Per population,
Nevada has less licensees that most neighboring
states including California and Arizona.
- Q What
can a real estate licensee expect to make in income
the first year of practice?
- A Most
positions in real estate are paid via commission
only. The average income reported for the first
year of practice in Nevada is approximately $48,000.
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