Robert holds a Nevada broker-salesperson license and has been working under Broker Chen at Desert Sun Realty. Robert has decided to open his own independent brokerage. Under Nevada law, what must Robert do before he can operate as an independent broker?
Correct Answer
C) Robert must obtain a broker license and register his brokerage with NRED, at which point he will serve as his own principal broker.
A broker-salesperson license does not authorize independent operation of a brokerage. To open and operate an independent brokerage in Nevada, Robert must upgrade his license to a full broker license and register the brokerage with NRED. As the sole broker of his own firm, Robert would serve as the principal broker of his brokerage. The broker license — not the broker-salesperson license — is the credential that authorizes independent brokerage operation under NRS 645.230.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
In Wyoming real estate practice, a first-time salesperson applicant completes coursework. What should the licensee remember?
A Wyoming licensee is reviewing an out-of-state salesperson applicant prepares for testing. What is the best answer?
In Wyoming real estate practice, a salesperson applicant age is reviewed. What should the licensee remember?
A responsible broker in Wyoming asks about a nonresident applicant provides home-state evidence. Which answer follows Wyoming law?
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