Nebraska Real Estate Already Graded A+
What is the function of the Nebraska Real Estate Commission?
️️The Nebraska Real Estate Commission regulates the licensing and practice of real estate
professionals to ensure ethical practices and protect consumer interests.
What is the minimum age...
Nebraska Real Estate Already Graded A+
What is the function of the Nebraska Real Estate Commission?
✔️✔️The Nebraska Real Estate Commission regulates the licensing and practice of real estate
professionals to ensure ethical practices and protect consumer interests.
What is the minimum age requirement to obtain a real estate license in Nebraska?
✔️✔️An individual must be at least 19 years old to apply for a real estate license in Nebraska.
How many hours of continuing education are required for real estate license renewal in Nebraska?
✔️✔️Nebraska requires 18 hours of continuing education every two years for license renewal.
What must a real estate salesperson do before showing a property in Nebraska?
✔️✔️A real estate salesperson must obtain the seller's consent and ensure that all relevant disclosures
are made to potential buyers.
Is a written agreement required for all real estate agency relationships in Nebraska?
✔️✔️Yes, all agency relationships must be established through a written agreement outlining the terms
of the relationship.
What disclosures are required when selling a property in Nebraska?
✔️✔️Sellers must disclose any known material defects, environmental hazards, and other significant
issues affecting the property’s value.
What happens if a real estate licensee in Nebraska fails to disclose a known defect?
✔️✔️Failure to disclose a known defect can lead to disciplinary action by the Nebraska Real Estate
Commission and potential legal liability for the licensee.
Can a Nebraska real estate broker operate without a supervising broker?
✔️✔️No, a real estate broker must operate under a supervising broker to ensure compliance with state
laws and regulations.
, What are the requirements for a property management license in Nebraska?
✔️✔️A property management license is not required in Nebraska; however, property managers must
adhere to real estate laws and ethical practices.
What is the role of a title company in Nebraska real estate transactions?
✔️✔️A title company conducts title searches, provides title insurance, and facilitates the closing
process to ensure a smooth transaction.
How long does a seller have to provide a disclosure statement in Nebraska?
✔️✔️A seller must provide the disclosure statement to potential buyers before the buyer signs a
purchase agreement.
What is a "listing agreement" in Nebraska real estate?
✔️✔️A listing agreement is a contract between a property owner and a real estate broker, authorizing
the broker to sell the property on behalf of the owner.
What does "fiduciary duty" mean for real estate agents in Nebraska?
✔️✔️Fiduciary duty refers to the legal obligation of agents to act in the best interest of their clients,
maintaining loyalty, confidentiality, and full disclosure.
Can a real estate agent in Nebraska receive compensation from multiple parties in a transaction?
✔️✔️Yes, but only with full disclosure and consent from all parties involved in the transaction.
What is the significance of an "earnest money" deposit?
✔️✔️An earnest money deposit demonstrates a buyer's good faith and intent to proceed with the
transaction and may be applied to the purchase price at closing.
What steps must be taken if a buyer wants to back out of a contract in Nebraska?
✔️✔️A buyer must review the terms of the contract and may need to provide written notice or fulfill
any contingencies specified in the agreement.
Law - Statue ✔️✔️Passed by unicameral
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