The Nevada Real Estate License Renewal Guide
Renewing a real estate license in Nevada is a necessary step for all active realtors wishing to continue their legal and professional practice. The renewal process is designed to ensure that all licensed individuals maintain current knowledge of industry standards, legal requirements, and ethical practices. Having a clear understanding of the renewal process is crucial, as it not only ensures continued compliance with the law, but also upholds the integrity of the real estate profession as a whole. To renew a real estate license in Nevada, realtors must complete continuing education courses, submit required documentation to the Nevada Real Estate Division, and pay the requisite renewal fee. The specific requirements vary based on the type of license held (salesperson or broker), and the particular terms set forth by the Nevada Real Estate Division. The renewal process serves several purposes , foremost of which is to keep realtors informed of the latest developments in real estate law and practice. Additionally, it ensures that reapplying realtors have the necessary skills and knowledge to serve their clients effectively and in accordance with legal standards. Furthermore, it helps protect the values and rights associated with real properties by ensuring all realtors are up-to-date on the latest legal ramifications affecting property sales and management. In short, trading on a reputation for professionalism and expertise is key to positioning yourself as an authority in the real estate industry. Understanding and completing all aspects of the license renewal process, in addition to keeping these prerequisites firmly in mind, provides an essential knowledge base that can help make realtors stand out in a competitive marketplace.
Basic Requirements for Nevada Realtors License Renewal
To maintain your license in the state of Nevada, you must complete 24 hours of continuing education every 2 years. You can find a list of approved providers for continuing education credits on the Nevada Division of Real Estate (DRE) website. Of these 24 hours, 3 must be in agency, 3 must be in Contracts and 3 must be in law, which includes topics such as Fair Housing and Equal Opportunity in Housing (Federal and state laws governing such requirements). There is also a course called Personal Safety and the 3 hours of instruction are in line with the industry best practices and priorities for the Professional Standards Committee of the National Association of Realtors. The 24 hours also includes 12 hours of elective credits. Any license not renewed during the prescribed 2-year period will be canceled! This will require a new license application, fingerprint submission, couple of tests and a $100 late fee. In addition, if you happen to miss the renewal for a period of one year, your license will be automatically placed on "inactive status." Once again, this will require a new application, tests and a $500 late fee. The DRE mails out a license renewal notice about 90 days before the expiration date of your real license. Although, it is not required to actually receive the notice, in practice the license renewal procedure is incomplete until the DRE receives the timely renewal fee together with an approved continuing education certificate for each section required. No late fees are charged for renewals received between the 90-day renewal notice date and license expiration date. After the license is reactivated by timely filing the required materials, fees, and any reinstatement fee, continuing education certificates can be dated to cover the two-year renewal period.
Getting Qualified: Continuing Education and Course Requirements
To qualify for license renewal, every licensed real estate professional in Nevada must complete a minimum of 24 continuing education credits (CE), which includes three required classes. Each of the required classes must be at least three (3) hours long, and at least eighteen (18) of your total CE must be taken in live class settings. Licensees will receive a notification from the Division indicating when their requirements will be due. Failure to meet these requirements by the deadline could result in disciplinary measures being taken, including revocation of license.
The only exceptions to the continuing education requirement are for licensees who are currently serving active duty in the military, or those who have extended their first renewal deadline until six months after passing the examination. The Division must have a copy of your Military orders or Certificate of Eligibility on file by the end of your current license period in order for you to be exempt from the requirement; however, completing the required courses may expedite the renewal process once you are back on duty.
The required classes are as follows:
Law and Agency
This 3-hour class is mandatory for all licenses, and all renewals regardless of number of years in practice. The course must be taught by an NVREC approved instructor, and has an exam. NVREC will announce updates to the Nevada Revised Statutes, the Administrative Code, any new regulations, new case law, and how it all applies to real estate agents and brokers.
Risk Management
This 3-hour course is mandatory for all licenses, all renewals regardless of number of years in practice. The course must be taught by an NVREC approved instructor, and has an exam. This course discusses transactions and scenarios that can create real estate related liability for brokers and salespersons. The course also emphasizes training brokers and managers to avoid the most common types of claims brought against their brokers.
Fair Housing
This 3-hour CLASS is mandatory for all licenses, all renewals regardless of number of years in practice. All licensees may attend the course regardless of the type of license they hold. The course is taught by an NVREC approved instructor. The course discusses the historical background and fosters awareness through discussions of present-day laws and regulations related to housing discrimination and housing for persons with disabilities.
Important Dates and Renewal Deadlines
It is essential to be aware of the renewal process and required timeline. The NV Real Estate Division sends a renewal notice only to licensees that provide it with an email address. You are responsible for making sure the Division has your most current email address, and for obtaining and completing any renewals you may have missed. Keep in mind that mail can be slow, especially considering the additional time for routing as well as processing related to licensing. Your license will expire if you do not complete the renewal process by the due date.
In the 60+ days leading up to your license expiration date, the renewal website is open with the current licensing period as well as the upcoming licensing period. Do not worry, even if your license expired yesterday, you will be able to jump into the current renewal period and renew. You must complete the continuing education hours required for the current licensing period before you are able to complete the renewal process in the system.
If the Nevada Real Estate Division posits that you are lapsing in your requirements, the onus is on you to perform the research and to catch up on your requirements. It is always good to wait until you receive your renewal notice before starting on the process, so you can be certain of what you are completing.
Your license is multi-year and has a two year renewal period. A broker’s license expires on the 15th day of the licensee’s birth month, while a salesperson’s license expires on the last day of their birth month. For example, if your birth month is September and you are a broker, your license will lapse on 09/15/XX. The online renewal period will run from 07/13/XX through 08/31/XX. If your license expired on 01/01/XX, the renewal period would have run from 07/13/XX through 08/31/XX. If your birth month is September and you are a salesperson, your license will lapse on 09/30/XX. The online renewal period will run from 07/13/XX through 08/31/XX. If your license expired on 01/01/XX, the renewal period would have run from 07/13/XX through 08/31/XX.
The fee is $400 for a five-year license and $500 if you missed the deadline. Follow the instructions on the website portal to complete the process for your renewal or reinstatement. Once completed, you should print out a copy for your records that shows the line item with the fee paid and that the payment was successful. It takes approximately 10 business days for the Real Estate Division staff to process your application. Confirm with your broker or other responsible parties that they have an updated copy of your pocket card available in case of an audit.
The Renewal Process: A Step-By-Step Guide
Step 1: Verify Eligibility
Before you can start the renewal process, ensure that you meet all eligibility requirements. You must have completed the necessary continuing education credits within the specified period, including the Mandatory Course, and your license must not be in a delinquent state.
Step 2: Log into the NRED System
Visit the official Nevada Division of Real Estate website and log into your personal account using your license information. Find the "Renew License" option.
Step 3: Pay Renewal Fees
After confirming that all details are correct, proceed to submit the renewal fee as indicated on your screen . This is typically in the form of a credit or debit card payment.
Step 4: Review Confirmation
Upon successful completion of the transaction, review the confirmation page for accuracy. Make a note of your order ID and keep the confirmation for your records.
Step 5: Update Personal Information (if needed)
If there are any changes to your personal information, such as your name, address, or contact details, update these promptly on the NRED system.
Step 6: Confirm Active Status
Check your license status again after a week or so to confirm that it remains in an active status. If everything appears in order, your license is now renewed.
Common Problems when Renewing your Nevada Real Estate License, and How to Fix Them
Common issues we’ve experienced with the Nevada real estate license renewal process, include renewal application errors such as incorrect personal information about your hotline number and address or missing documentation for continuing education credits, or failure to submit fingerprint report and continuing education credits to the Nevada Real Estate Division on time.
To overcome these common challenges, we recommend meeting with a real estate professional who can assist in accurately completing the renewal application and providing guidance for any additional steps that may be required, including credit reporting and fingerprinting.
Useful Resources for Nevada Realtors
The Nevada Real Estate Division offers an online portal for all information regarding real estate licenses. If you have any questions regarding the renewal process or need to update your information or check your license status this is the best resource. In addition to up-to-date official information , the Real Estate Division gives you access to all of the regulatory statutes and regulations in one place for quick review. In addition to the information above, the Real Estate Express online classes are a great choices for brokers who need to complete their 24 hours of continuing education or want to brush up on anything specific before their license renewal.