Agency Responsibilities in Nevada
Real estate professionals must adhere to legal and ethical responsibilities when they represent their clients. In Agency Responsibilities in Nevada, we identify and explain the duties and responsibilities when licensees represent the buyer, the seller, or both parties. We review how an agency relationship is formed, the types of agency agreements licensees may have with their clients, and the required Nevada waivers and disclosures that help support and define agency role.
Students review of the agency relationships allowed in Nevada and their corresponding disclosure requirements. Scenario-based activities allow students to apply the legal guidelines in context.
Course highlights include:
- A description of how agency is formed, the types of agency relationships possible in Nevada, and the supporting documents used in agency relationships
- A description of the role, duties and responsibilities of an agent when representing the buyer, seller, multiple parties in a single transaction, or when acting as a principal
- An overview of Nevada’s disclosure requirements and the disclosure forms most commonly used in agency relationships
- A description of recordkeeping and document retention requirements for real estate transactions