How To Become A Real Estate Agent In Nevada (5 Steps)

Learning how to become a real estate agent in Nevada opens the door to building wealth through real estate. Perhaps even more importantly, a Nevada real estate license may be your key to leaving a traditional nine-to-five career behind and doing something you can depend on and enjoy.

In this comprehensive guide, we will navigate the steps and insights on obtaining a real estate license in Nevada, laying the foundation for a successful career in the thriving real estate industry:

• Nevada Real Estate Agent Requirements
• Confirm You Are Eligible To Become A Real Estate Agent
• Complete A Background Check & Prelicensing Real Estate Coursework
• Pass The Nevada Real Estate Salesperson Exam & Apply For A License
• Join A Nevada Real Estate Broker
• Nevada Real Estate License Renewal
• Pros & Cons Of Becoming A Real Estate Agent In Nevada
• Nevada Real Estate Agent FAQ
• Final Thoughts On How To Become A Real Estate Agent In Nevada

Acquiring a real estate license in Nevada can propel one's professional life to new heights, offering not only the potential for increased earnings through commissions but also serving as a strategic stepping stone into more lucrative ventures such as real estate investing. The insights gained into market dynamics, property values, and negotiation skills not only enhance success as an agent but also lay a robust foundation for individuals who want to learn how to flip houses or wholesale real estate in Nevada.

Nevada Real Estate Agent Requirements

Accounting for 21.9% of Nevada’s gross state product ($47.3 billion), real estate has an immense impact on the state’s economy, according to the National Association of Realtors (NAR). Due to the weight of the real estate sector, the Nevada Real Estate Division (NRED) has imposed a set of strict requirements on anyone who wants to work in the industry as an agent. Aspiring real estate agents must meet these requirements if they're going to aid in real estate transactions:

• Step 1: Confirm You Are Eligible To Become A Real Estate Agent
• Step 2: Complete A Background Check & Prelicensing Real Estate Coursework
• Step 3: Pass The Nevada Real Estate Salesperson Exam & Apply For A License
• Step 4: Join A Nevada Real Estate Broker
• Step 5: Nevada Real Estate License Renewal

1. Confirm You Are Eligible To Become A Real Estate Agent

Before aspiring real estate agents in Nevada embark on their journey, they must meet essential eligibility requirements. These include being 18 years old, holding U.S. citizenship or permanent residency status, and providing evidence of high school graduation or equivalent.

This step is critical, setting the stage for a seamless transition to the subsequent stages of the licensing process. By ensuring compliance with these prerequisites from the outset, individuals streamline their path to becoming a real estate agent in Nevada, minimizing delays and maximizing efficiency in achieving their career goals.

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2. Complete A Background Check & Prelicensing Real Estate Coursework

Once aspiring real estate agents in Nevada confidently verify that they meet the eligibility requirements, the next step involves completing a background check and the pre-approved pre-license real estate course.

To initiate the background check, individuals must submit a fingerprint verification form provided by an approved Fingerprint Vendor. This step in the licensing process helps ensure the integrity and suitability of potential agents. The associated fee for the background check is approximately $50.

After completing the background check, aspiring agents must enroll in a comprehensive 120-hour pre-licensing education program. This coursework is a pivotal educational component designed to equip individuals with the knowledge and skills essential for success in the real estate profession. Here’s a breakdown of the pre-licensing curriculum:

• Real Estate Principles (45 hours or three college credits): Covering foundational principles crucial for understanding the real estate landscape.
• Real Estate Law (45 hours or three college credits, including 18 hours of Nevada law): Providing insights into legal aspects relevant to real estate transactions.
• Contracts in Real Estate Transaction (15 hours or one college credit): Exploring the intricacies of contracts within the context of real estate transactions.
• Agency (15 hours or one college credit, including three hours of foundation of the relationship between broker and agents and three hours of risk reduction): Focusing on the dynamics and responsibilities within real estate agency relationships.

These courses, certified by transcripts or certificates, lay the groundwork for a comprehensive understanding of the real estate industry and regulatory framework. Aspiring agents must complete this pre-approved pre-license real estate course before taking the salesperson exam.

It is important to note that aspiring agents can’t take a real estate course just anywhere; they need to take classes that the Nevada Real Estate Division has approved. The NRED has provided a list of Approved Real Estate Pre-Licensing Courses for your convenience. There are 19 pre-approved licensing courses, all taught by different institutions, with varying costs and packages. The CE Shop, for example, offers four unique packages, all of which meet the state’s requirements. The packages range from $315 to $569, depending on the services requested.

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3. Pass The Nevada Real Estate Salesperson Exam & Apply For A License

The next milestone in obtaining a real estate license in Nevada is applying for and completing the Nevada Real Estate Sales Exam. Aspiring agents must visit and apply through Pearson VUE, a third-party vendor facilitating the examination process to initiate this stage. The exam fee is $100, and the test encompasses two critical sections: the national and state portions. Test-takers are allocated a total of 240 minutes to navigate the whole test.

You must correctly answer at least 75% of the questions to pass the Nevada Real Estate Salesperson Exam. Once the exam is passed, the next step involves applying for a Nevada real estate license. This application requires the submission of credentials from the pre-licensing coursework and the completed exam. Accompanying the application is a licensing fee of $125, marking the final step toward officially becoming a licensed real estate agent in Nevada.

4. Join A Nevada Real Estate Broker

The next phase in becoming a Nevada real estate agent requires joining forces with a licensed broker. Newly licensed agents are mandated to refrain from independent practice and, instead, align themselves with a brokerage to kickstart their careers in real estate. This requirement reflects the state's commitment to providing emerging professionals with practical experience, mentorship, and supervision.

By affiliating with a brokerage, newly licensed agents gain invaluable insights from seasoned professionals who navigate real estate transactions, client interactions, and market dynamics. Working under a broker allows agents to seamlessly apply the theoretical knowledge acquired during pre-license coursework in a real-world context. This hands-on experience equips them with practical insights into negotiations, contract execution, and ethical considerations specific to Nevada’s real estate market.

Moreover, this mentorship-driven approach fosters a comprehensive understanding of virtually every facet of the industry. A broker's guidance ensures adherence to state regulations and is pivotal in developing essential skills for success in the Nevada real estate market.

5. Nevada Real Estate License Renewal

Upon obtaining a real estate license in Nevada, agents must renew it within one year by completing 36 hours of post-licensing real estate courses and submitting a $195 fee. The renewal process requires agents to furnish proof of course completion to the Nevada Real Estate Division. The breakdown of these continued education hours is as follows:

• 3 hours in Agency
• 6 hours in Contracts
• 3 hours in Ethics
• 3 hours in Law & Legislation
• 3 hours in Risk Reduction
• 18 hours in General topics.

This structured curriculum ensures that licensed agents are familiar with industry updates, ethical considerations, and legal nuances.

Following the initial renewal, subsequent renewals extend to a two-year validity period, maintaining the prerequisite of 36 hours of continued education courses. This ongoing commitment to education aligns with regulatory requirements and is a strategic investment in staying current with industry best practices.

By engaging in these post-licensing courses, real estate agents in Nevada demonstrate a commitment to professional growth and proficiency, contributing to the continued elevation of standards within the state.

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Pros & Cons Of Becoming A Real Estate Agent In Nevada

Before learning how to become a real estate agent in Nevada, it is pivotal to assess the advantages and disadvantages of this profession. Evaluating the pros and cons of pursuing a career as a real estate agent in Nevada will shape many opinions on the industry and determine whether or not the path is worth heading down.

Benefits Of Becoming A Real Estate Agent In Nevada

Learning how to become a real estate agent in Nevada coincides with many benefits, including:

• Lucrative Profit Potential: Real estate agent commissions can reach as high as 3% (or more) of the sale price of a home. As a result, agents with a steady flow of clients can make a very lucrative living, especially when home values have appreciated for several years in a row.
• Fulfilling Role In Realizing Dreams: Learning how to become a real estate agent in Nevada benefits more than industry professionals. Those who hire and work with real estate agents, in particular, benefit immensely from their experience and expertise. A good agent can save buyers money, make sellers more money, and help people find their dream homes.
• Flexibility & Independence: While new agents will work under a broker, they are granted a fair amount of flexibility and independence with their schedules. That’s not to say agents don’t work long or odd hours, but their schedules tend to be more flexible than traditional nine-to-five careers.
• Networking Opportunities: The real estate profession boasts plenty of networking opportunities, allowing agents to connect with professionals ranging from mortgage brokers to fellow real estate agents. Building these connections fosters valuable relationships that contribute to career growth and success.
• Gateway To Wholesaling & Flipping Opportunities: Learning how to become a real estate agent in Nevada is a great way to familiarize yourself with the housing sector. The knowledge new agents gain can easily translate to investment opportunities. Whether you want to learn how to wholesale real estate in Nevada or how to flip houses in Nevada, becoming a licensed professional in the state is a great foundation to build on.

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Drawbacks Of Becoming A Real Estate Agent In Nevada

Learning how to become a real estate agent in Nevada comes with many drawbacks, including:

• Income Uncertainty: Nevada real estate agents have the potential to make a very lucrative living, but they do not make predictable paychecks. Agents get paid commissions on the deals they help facilitate, which can sometimes be unpredictable.
• Intense Competition: The income potential of becoming a Nevada real estate agent has attracted many professionals to the field. As a result, agents will find their local markets very competitive, with many counterparts viewing for business.
• Lack Of Employee Benefits: While exceptions exist, most real estate agents in Nevada do not receive employee benefits. That means most agents aren’t receiving health benefits or retirement plans.
• Irregular Work Hours: Real estate agents are usually expected to work around others’ schedules when closing deals and working with clients.
• Upfront Costs & Fees: Learning how to become a real estate agent in Nevada requires many upfront costs and fees. From pre-licensing coursework to the application process, getting a license can be expensive for some.

Nevada Real Estate Agent FAQ

The path to learning how to become a real estate agent in Nevada is multifaceted, so much so, in fact, that the journey is bound to lead to many questions. Instead of searching every corner of the internet for the answers you seek, we have curated a list of the most frequently asked questions about Nevada real estate licenses. Below, you’ll find answers to the questions you didn’t know you wanted to ask.

How Much Does A Nevada Real Estate Salesperson License Cost?

Obtaining a real estate license in Nevada comes with a financial commitment, with costs exceeding $1,000 in the first year. These expenses include fees for fingerprinting and background checks, pre-license coursework, the real estate sales exam, license application, renewal fees, and continued education courses. These financial investments cover essential components of the licensing process, ensuring aspiring agents meet eligibility requirements, complete examinations, and stay current with post-licensing education.

How Long Does It Take To Get A Real Estate Salesperson License In Nevada?

How long it takes to get a Nevada real estate license will vary depending on the time invested each week. According to The CE Shop, however, aspiring agents willing to spend at least 20 hours a week on the coursework can get licensed in as little as three to four weeks.

How Much Do Real Estate Agents In Nevada Make?

The earnings of real estate agents in Nevada can vary based on several factors, including experience, location, and market dynamics. On average, agents earn commissions ranging from 2.5% to 3% of the property's sale price per transaction. To put this into perspective, considering the average home value in Nevada is $418,366 (as per Zillow), this equates to approximately $12,551 per deal for the state's average real estate agent.

Successful agents with established clientele and robust networks often enjoy higher incomes. However, it's important to note that those starting out may encounter variability in their earnings during the initial stages of their careers. While this serves as a simplified illustration, it highlights the potential income for those who learn how to become a real estate agent in Nevada.

Final Thoughts On How To Become A Real Estate Agent In Nevada

Learning how to become a real estate agent in Nevada is one of the best ways to break into the housing sector. With no need for prior experience or deep pockets, anyone can take the step to get a real estate license. While the process can be intimidating, it’s far from impossible. In fact, with the help of this guide, aspiring agents are only five steps away from building wealth in the real estate market.

Ready to take your real estate career to the next level? Contact Real Estate Skills today and unlock the full potential of your real estate ventures. Our experts are here to provide guidance, resources, and strategies to help you thrive in the real estate investing industry. Don't miss out on this opportunity to enhance your skills and boost your success. Get in touch with us now and elevate your career in real estate.