Commercial Real Estate Brokerage Laws and Customs: Nebraska

by Martin P. Pelster and Richard Anderson, Croker, Huck, Kasher, DeWitt, Anderson & Gonderinger, L.L.C., with Practical Law Real Estate

A Q&A guide to state laws and customs on brokerage laws relating to commercial real estate transactions in Nebraska. This Q&A addresses the state-specific guidance on several questions relating to brokerage laws and customs, including licensing requirements, legal restrictions on a broker’s role in a real estate transaction, brokerage agreements, commission payments, and brokers’ lien rights. This Q&A guide also provides guidance on any licensing requirements for managing commercial real estate. Answers to questions can be compared across a number of jurisdictions (see Commercial Real Estate Brokerage Laws and Customs: State Q&A Tool).

Licensing Laws and Requirements

1. Does your state regulate real estate brokers? If so:

• What statutes or laws regulate licensing requirements for brokers?
• What department oversees the licensing and regulations of brokers?
• Are different types of brokers or other roles recognized by the regulations? If so, specify the scope of responsibilities of these different roles.

Licensing Laws
The Nebraska Real Estate License Act (NRELA) (Neb. Rev. Stat. §§ 81-885 to 81-885.56) regulates licensing requirements for real estate brokers, associate brokers, and real estate salespersons. A person who collects a fee or commission on the sale of real estate must be licensed as a real estate broker or salesperson unless an exemption applies (In re Estate of Ronan, 763 N.W.2d 704, 707-08 (Neb. 2009)).

Regulator
The Nebraska Real Estate Commission (NREC) has full power to regulate the issuance of licenses and activities of licenses. NREC may:

• Revoke or suspend licenses issued under NRELA.
• Censure licenses
• Enter into consent decrees.
• Issue cease and desist orders to violators.

(Neb. Rev. Stat. § 81-885.10.)

Regulations adopted by NREC can be found at 299 Neb. Admin. Code §§ 1-001 to 9-003.

Click here to Read More

The content of this article is for informational purposes only. It is not legal advice, nor is it intended to create, and your receipt of it does not constitute, an attorney-client relationship. This article may only be reproduced in its entirety (without modification) for the individual reader’s personal and/or educational use and must include this notice. The content of this article is intended to be up-to-date, but may or may not reflect the most current legal developments. Croker Huck Law Firm assumes no liability or responsibility for any errors or omissions contained within this article. You should not act or refrain from acting based upon this article without seeking professional legal counsel. This article only provides a brief overview and an attorney should be consulted if you have questions regarding this topic in relation to your specific situation. To learn more contact a Croker Huck attorney at 402-391-6777 or through our website contact page.