Compliance FREQUENTLY ASKED QUESTIONS
Can a real estate broker have a home office?
Nevada does allow for a home office so long as all the
requirements regarding an office are complied with. These requirements include
having a sign, being accessible to the public and complying with local zoning
Can a board hold a board member removal election based upon
the president’s or a board member placing it on an agenda?
NRS 116.3108 (2) specifically requires that ten per cent
(10%) of the members must request that a board member removal election be held,
therefore the board or board president cannot hold such an election without the
prerequisite member’s request.
Can a real estate licensee with a Property Management Permit
(PMP) manage a residential Common Interest Community?
No. In order to manage a Common Interest Community an
individual must hold a Community Association Manager (CAM) Certificate.
Is there somewhere on your website I can find a list of recommended real estate professionals?
The Division is a
State of Nevada agency, and precluded by law from making any recommendations
regarding the capabilities of one licensee over another. The Nevada Real Estate Division's License Lookup gives you the ability to determine the license status
of anyone. A Request for Records of
Complaints form can be filled out and
submitted to the Las Vegas Division office to find out if a licensee has had
any disciplinary problems in the past.
What is the standard commission charged by a real estate
There is no standard or mandated real estate commission
amount. The commission is a negotiated amount between the seller and listing
If someone dies, either by natural causes, criminal act or
suicide, must that be disclosed to the potential buyer of the property?
The only time a death by any cause must be disclosed is if
something that is a part of the property was a cause of or precipitated that
death. However if asked, one must be honest.
Several years ago I had a flood in my upstairs bathroom as a
result of a sink overflowing. The problem was corrected by a licensed plumber.
Must that be disclosed when I complete the Sellers Real Property Disclosure?
While some problems, such as a broken door, that have been
repaired need not be disclosed, any water damage, no matter how long ago must
be disclosed to a potential buyer.
When I place my home on the market can I insist on a minimum
earnest money deposit and refuse to look at any offer that does not include
that minimum amount?
As a seller you can put requirements on the sale of your
property, so long as those requirements do not violate statutes such as
discriminatory practices. However, to protect your agent, who is normally
required to show you all offers, you should put that requirement in writing.
Your agent should also put that in the multiple listing service notes so that
all agents are aware.
Where can I learn more about the Nevada Residential
View our frequently asked questions about the guide here.