When it comes to success in Nevada real estate, there are three important things to consider: Location, location and location. That is because real estate is the only thing you can invest in that is so very dependent on what is going on around it. If the city is digging up a street, that is going to affect your property value. If there is suddenly a sharp hike in the crime rate, that will affect it as well. So it’s best to keep up with the local news, which includes any laws that might be taking shape. If you are planning to do business in Nevada, whether buying or selling personal property or trying to turn a profit on commercial real estate in your chosen area, the Nevada Real Estate Division at http://www.red.state.nv.us is the place to visit, and enhance your real estate education.
Here, in their own words, is what this group sets out to do: “The mission of the Nevada Real Estate Division is to safeguard and promote public interest in real estate transactions by developing an informed public and a professional real estate industry.” To that end, they offer information on where to take courses in just about every aspect of real estate imaginable, a list of real estate education calendars and requirements. They seek to be your one-stop source for Nevada real estate information.
For instance, a person who had a real estate license was once automatically allowed to act as a business broker without further permits, until that law changed. Then persons who had obtained their reminiscence by Oct. 1, 2005 was permitted to act as a business broker until Jan. 1, 2007, at which time they were required to have a permit, which “requires a background investigation, an application and a fee.” Only after fulfilling those requirements were they permitted to act as a broker for private or commercial real estate in Nevada.
Anyone to whom this information is relevant may also learn exactly what the legal definition of “business broker” is, the hoops through which one must jump in order to obtain the permit, the real estate education requirements thereof, and even a copy of a completed application on this organization’s website.
This organization’s website seems to be well-maintained and highly usable, as it is a source of industry news for the state, including options in expanding your real estate education. Announcements run all the way up to December 2006, and deal with such topics as the change in appraiser education requirements, which will take place in 2008, and a note on the extension of a period for public comment on a particular issue. You will also find news there, with such headlines as “Sham Insurers Shut Down and Ordered to Pay Fines,” which happened in March 2006. (http://www.red.state.nv.us/alerts.htm)
For one thing, laws governing commercial real estate in a particular area have a way of changing. One law that changed in Nevada simply involved knowing the difference between a real estate agent and a real estate broker. Generally a broker is a little more involved in the nuts and bolts of the business, often has more in the way of real estate education, and actually employs real estate agents as sales agents. At one point in time, anyone with a real estate license could act as a broker. But things changed, and the state of Nevada began requiring a special permit for anyone who wished to perform the duties of a broker. Anyone affected by that law could use the site to follow developments as well as learn how to comply with the new rules.
Silver State real estate investors and others in the industry are very lucky to have a place like the Nevada Real Estate Division to turn to when they need info on conducting business in their state. Their website is well-organized and user-friendly, and just full of useful, updated information. If you need to contact them by phone or set up an appointment to meet with someone in person, you may call their Las Vegas office at (702) 486-4033 or their Carson City office at (775) 687-4280. You may also e-mail them at [email protected].
