Understanding Different Types of Real Estate Licenses

Have you been learning about what it takes to get a Nevada real estate license? As you evaluate what is involved in pursuing this exciting career, take a moment to look at the big picture.

There are three different types of Nevada real estate licenses available: salesperson, broker-salesperson and broker.  Key Realty School offers several pre-licensing and broker courses. Receiving a license is contingent upon meeting requirements such as taking courses and passing the exam. For broker licenses, experience may be used in place of some of the education requirements.

A Nevada real estate license allows agents to perform specific functions:

Agent/Salesperson:  This is the initial requirement for legally representing sellers and buyers for home transactions. Individuals with this license have completed 90 hours of education. These courses cover state and national laws as well as principles related to real estate transactions.  Attaining this license means you have met the state’s requirement and can facilitate property transactions. However, agents must act under a Nevada broker’s authority.

Broker-Salesperson: These individuals fulfill eight years of experience or 64 college credits. They are eligible to take the broker exam prior to completing the two years of licensed experience necessary to become a broker. Individuals wishing to quickly move toward getting a broker license may choose to pursue getting this license first, instead of an agent/salesperson license. While broker-salespersons still work under a broker’s authority, these individuals can manage a branch office once the two years of experience are met.

Broker: These individuals may work independently and have agents working underneath their license. If your goal is to manage a real estate firm, you will need to get this license. Getting this license requires that you completed a 45-hour broker management course and worked for 2 years as a full-time licensed salesperson or broker-salesperson.

Your experience and previous college education can work together to meet pre-requisites for taking exams and eligibility for receiving your license. Each Nevada real estate license must be renewed every 2 years. Because of this, the Broker-Salesperson designation allows individuals to continue education and work toward the goal of becoming a broker.