(OnlineEd) – On July 1, 2011 Nevada increased their licensing period for real estate licenses from 2 years to 4 years. As a result of this increase, the Nevada Real Estate Commission is now requiring 48 hours of continuing education for real estate license renewal. Prior to the doubling of the licensing period, Nevada required just 24 hours of continuing education.
Here’s how the new rules will affect licensees:
If you renewed your license on or before June 30, 2011, you have a two-year license. A two-year license requires only 24 hours of continuing education, including 3 hours each of Law, Agency, Contracts, and Ethics. When you renew your license, you will receive your first 4-year license.
If you renewed your license on or after July 1, 2011, you were issued a four-year license. A four-year license requires 48 hours of continuing education for license renewal. Of the 48 hours, 24 hours has to be during the first two years of your license, including 3 hours each of Law, Agency, Contracts, and Ethics. During the second 2 years of your license you are required to complete another 24 hours of continuing education, including 3 hours each of Law, Agency, Contracts, and Ethics. In addition, at least 50% of the hours are required to be in live lecture format. If you fail to meet the education requirements for any 2 year period, your real estate license is subject to immediate revocation and you can be fined up to $100.
If you are a new licensee and receive your license on or after July 1, 2011 you have to complete the 30-hour pre-licensing course, and complete an additional 12 hours of education, including 3 hours each of Law, Agency, Contracts, and Ethics in a live format. An exception to this live-lecture requirement is if you live in a remote area you can apply to the Nevada Real Estate Division to take some or all of the second year courses through an interactive teleconference medium, which requires interaction with an instructor.
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