Nev. Admin. Code § 645.600 - Responsibilities of broker regarding associated licensees, employees and operation of business; agreement to retain licensee as independent contractor
1. Every real estate broker shall teach the licensees associated with him or her the fundamentals of real estate or time-share practice, or both, and the ethics of the profession. The broker shall supervise the activities of those licensees, the activities of his or her employees and the operation of his or her business.
2. The supervision described in subsection 1 includes, without limitation, the establishment of policies, rules, procedures and systems that allow the real estate broker to review, oversee and manage:
(a) The real estate transactions performed by a licensee who is associated with the real estate broker;
(b) Documents that may have a material effect upon the rights or obligations of a party to such a real estate transaction;
(c) The filing, storage and maintenance of such documents;
(d) The handling of money received on behalf of a real estate broker;
(e) The advertising of any service for which a real estate license is required; and
(f) The familiarization by the licensee of the requirements of federal and state law governing real estate transactions, including, without limitation, prohibitions against discrimination.
3. In establishing such policies, rules, procedures and systems, the real estate broker shall consider the number of licensees associated with the real estate broker, the number of employees employed by the real estate broker and the number and location of branch offices operated by the real estate broker.
4. A real estate broker shall establish a system for monitoring compliance with such policies, rules, procedures and systems. The real estate broker may use a real estate broker-salesperson to assist in administering the provisions of this section so long as the real estate broker does not relinquish overall responsibility for the supervision of the acts of the licensees associated with the real estate broker.
5. A real estate broker may enter into a written agreement with each licensee associated with the real estate broker to retain the licensee as an independent contractor. If such an agreement is entered into, it must:
(a) Be signed and dated by the real estate broker and the licensee; and
(b) Include the material aspects of the relationship between the real estate broker and the licensee, including, without limitation, the supervision by the real estate broker of the activities of the licensee for which a real estate license is required.
NRS 645.050, 645.190
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.