Nebraska Real Estate Commission
Items Needed to Issue Real Estate Licenses
NOTE: The application must be complete
A. Active Salespersons or Associate Brokers
Applicants who will be performing licensed activities as a salesperson or associate broker (broker licensee working for an employing broker) in Nebraska need to submit the following:
1. Remit the appropriate license fee Any check returned by your financial institution will be subject to a $30.00 processing fee.
2. Submit your original score report to the Commission, with the picture intact. Photocopies will not be accepted. Score reports are issued by the examination administrator immediately following the examination. Applicants must complete the licensing process within thirty (30) days of being notified that a passing grade has been received.
3. Submit the License Issuance Form , signed by the employing broker, agreeing to employ the applicant as a salesperson or associate broker.
4. Submit the License Issuance Form or a letter, signed by the applicant, agreeing to be employed by the broker.
5. Errors & Omission insurance coverage:
a. If you obtain Errors & Omission insurance through a plan other than the Commission-offered plan, you must submit a Certification of Equivalent Coverage form completed by the insurer.
b. If you enroll in the Commission-offered plan, the insurer will provide verification of coverage to the Real Estate Commission after your application and premium have been processed. Verification of the insurance coverage must be received by the Real Estate Commission office before the active license will be issued. Please allow at least 7-10 days for verification from Insurer.
B. Inactive Salespersons or Inactive Brokers
Applicants who want their initial Nebraska license issued on inactive status until an employing broker can be found need to submit the following:
1. Remit the appropriate license fee. Any check returned by your financial institution will be subject to a $30.00 processing fee.
2. Submit your original score report to the Commission, with the picture intact. Photocopies will not be accepted. Score reports are issued by the examination administrator immediately following the examination. Applicants must complete the licensing process within thirty (30) days of being notified that a passing grade has been received.
3. Submit a letter, signed by the applicant, requesting that the license be issued on inactive status.
C. Active Brokers (other than Associate Brokers)
1. Remit the appropriate license fee. Any check returned by your financial institution will be subject to a $30.00 processing fee
2. Submit your original score report to the Commission, with the picture intact. Photocopies will not be accepted. Score reports are issued by the examination administrator immediately following the examination. Applicants must complete the licensing process within thirty (30) days of being notified that a passing grade has been received.
3. Submit the License Issuance Form.
4. Errors & Omission insurance coverage:
a. If you obtain Errors & Omission insurance through a plan other than the Commission-offered plan, you must submit a Certification of Equivalent Coverage form completed by the insurer.
b. If you enroll in the Commission-offered plan, the insurer will provide verification of coverage to the Real Estate Commission after your application and premium have been processed. Verification of the insurance coverage must be received by the Real Estate Commission office before the active license will be issued. Please allow at least 7-10 days for verification from Insurer.
5. If you will be supervising other licensees, you must complete the 12 hours of postlicensure education for designated brokers - course#6000. See requirement information
6. Determine how s/he will be doing business as a broker, and submit the License Issuance Form. An individual broker may operate in his/her name (John Jones, Broker or John Jones, Real Estate Broker), under a trade name, as a corporation, as a partnership, or as a limited liability company.
a. Trust Account Information -
1) Open and maintain a Real Estate Trust Account(s) in an authorized financial institution located in Nebraska in the same name as the applicant will be doing business in Nebraska. The Trust Account Consent To Examine form, which was included in the application packet, must be completed for each trust account and submitted to the Commission. OR
2) Complete and submit the Commission Approved Trust Account Waiver Form (if applicable)
b. If the applicant will be operating under a trade name in Nebraska, the applicant must:
1) Make a proper filing with the Nebraska Secretary of State. An Application for Registration of Trade Name form was included in the application packet.
2) Submit a copy of the certified trade name registration and a copy of proof of publication in any Nebraska newspaper prior to licensure with the Nebraska Real Estate Commission.
3) The trust account(s) would be in the trade name.
c. If the applicant will be operating as a partnership in Nebraska, the applicant must:
1) Make a proper filing with the Nebraska Secretary of State.
2) Submit a copy of the certified filing and a copy of proof of publication in any Nebraska newspaper prior to licensure with the Nebraska Real Estate Commission.
3) Submit the name(s) of the partner(s) and their residence addresses.
4) If the partner(s) other than the designated broker, either individually or together, own controlling interest, then the partner(s) must subordinate to the designated broker full authority to operate the real estate business without interference. The Partnership Subordination Resolution form, which was included in the application packet, must be completed and submitted to the Commission.
5) The trust account(s) would be in the partnership name.
d. If the applicant will be operating as a corporation in Nebraska, the applicant must:
1) Make a proper filing with the Nebraska Secretary of State.
a) If a Nebraska corporation, file the Articles of Incorporation with the Nebraska Secretary of State. Submit a copy of the Articles of Incorporation, as filed with the Secretary of State, along with a list of all stockholders of the corporation, including the percentage of interest in the corporation held by each shareholder and each shareholder's address; and a list of the officers of the corporation, including each officer's address.
b) If a foreign corporation, register the Certificate of Authority to Transact Business in the State of Nebraska form, which was included in the application packet, with the Nebraska Secretary of State. Submit a copy of the certified Certificate of Authority to the Commission, along with a copy of the Articles of Incorporation, as filed with the Secretary of State; a list of all stockholders of the corporation, including the percentage of interest in the corporation held by each shareholder and each shareholder's address; and a list of the officers of the corporation, including each officer's address.
2) If the designated broker is not the majority shareholder in the corporation, the Subordination Resolution form, which was included in the application packet, must be completed and submitted to the Commission.
3) If the corporation will be operating under a trade name, then a trade name filing must also be made in accordance with #4b above.
4) The trust account(s) must be in the name of the corporation, unless the corporation also has a trade name and will be operating under the trade name. In this case, the trust account(s) would be in the trade name.
e. If the applicant will be operating as a Limited Liability Company (LLC), the applicant must:
1) Make a proper filing with the Nebraska Secretary of State.
a) If the LLC will be operated as a resident LLC, the Certificate of Registration application form, which was included in the application packet, must be completed and submitted to the Commission, along with the $25 fee. The Certificate of Registration and the LLC application and attendant documents must then be filed with the Secretary of State. Submit a copy of the Articles of Organization, as filed with the Secretary of State, and a copy of proof of publication in any Nebraska newspaper to the Commission with the application.
b) If the LLC will be operated as a non-resident LLC, the Foreign Application for Certificate of Authority Limited Liability Company form, which was included in the application packet, must be filed with the Nebraska Secretary of State. Submit a copy of the certified Certificate of Authority along with a copy of the Articles of Organization, as filed with the Secretary of State, to the Commission with the application.
2) The Limited Liability Company Subordination Resolution form, which was included in the application packet, must be completed and submitted to the Commission.
3) If the LLC will be operating under a trade name, then a trade name filing must also be made in accordance with #4b above.
4) The trust account(s) must be in the name of the LLC, except if the LLC also has a trade name and will be operating under the trade name. In this case, the trust account(s) would be in the trade name.
6. If your principle business will be in something other than real estate and you wish to supervise affiliated licensees you will be required to overcome the presumption cited below:
"It shall be presumed that a duly licensed broker whose principal business is other than that of a real estate broker is unable to supervise licensed employees and said broker shall not be allowed to employ a real estate salesperson or an associate broker until such presumption is overcome by satisfactory evidence to the contrary."
You will be required to submit the Survey to Address the Presumption cited above.
If you have any questions, or if you need any of the forms mentioned above, please contact the Applications and Licensing Secretary at the Nebraska Real Estate Commission Office at (402) 471-2004.
