NAC645.437. Approval of course in broker management required to obtain original license as broker or broker-salesperson.

     1. A course of instruction in broker management that is designed to fulfill the educational requirements for issuance of an original license which are described in paragraph (d) of subsection 2 of NRS 645.343 must be approved by the Commission.

     2. To be approved by the Commission, a course in broker management must include, without limitation:

     (a) Six hours of instruction relating to office policy and procedure, risk management, errors and omissions, controlled business arrangements, compensation, employee-employer relationships and the status of independent contractors;

     (b) Three hours of instruction relating to creating business plans;

     (c) Three hours of instruction on forms used by real estate brokerages for real estate transactions;

     (d) Six hours of instruction that provides an overview of programs for financing real estate transactions, including, without limitation, terminology relating to such programs, the cost of transactions, customary transaction closing costs, and transaction cost and net sheets;

     (e) Six hours of instruction in state and local laws;

     (f) Six hours of instruction on federal laws governing real estate transactions;

     (g) Six hours of instruction on professional relationships between agents and their clients;

     (h) Three hours of instruction on valuation of real estate and general principles of economics; and

     (i) Six hours of instruction on emerging trends and practices.

     (Added to NAC by Real Estate Comm’n by R092-00, 8-29-2000, eff. 1-1-2001; A by R031-04, 11-30-2004)