Business Broker Commonly asked Q & A

Q Does a business broker permit applicant have to hold an active real estate license?

A Yes, persons who wish to obtain a Nevada Business Broker Permit must hold an active Nevada Salesperson, Broker Salesperson or Broker license to apply for and activate the Nevada Business Broker permit.

 

Q What type of business can a real estate licensee sell without the business broker permit?

A Nevada Real Estate licensees without a Business Broker permit can sell businesses that are designed to generate income based on the real property itself. Specifically, the entity that is to be sold must report at least half of all profit / loss ratios based on performance of the real property. Examples of this include: Hotels, Ranches, Apartment Complexes and other businesses that involve the real property as its source of revenue.

 

Q Can any licensee acquire the permit or does the licensee have to be a broker?

A Any licensee can acquire the business broker permit so long as the licensee completes the education and exam requirements. The licensee must also be affiliated with a brokerage the permits business sales or the licensee must be a broker themselves.

 

Q Do other states have a business sales license?

A Most states in the United States do not require a business broker permit. Nevada is one of a select few that require business brokers to be licensed and monitored.

 

Q Is the curriculum of the course similar to real estate?

A No. The Business Broker course curriculum is more accounting based than real estate based as real property is rarely involved in the sale of businesses.