WHAT'S NEW!!
Ben Muraskin Appointed to the Commission
Governor Jim Pillen has announced the appointment of Ben Muraskin as the Congressional District 2 broker member of the Nebraska Real Estate Commission.
Mr. Muraskin is the designated broker for Nebraska Lifestyles, LLC, in Omaha, NE, and has been licensed as a broker since 2019. Mr. Muraskin also has a law degree from the University of Florida College of Law.
Commissioners are appointed to six year terms, Muraskin replaces Joe Gehrki of Omaha.
National Association of Realtors Class Action Lawsuit Update
The operative date for compliance with the settlement in the national class action lawsuit regarding buyer agency agreements and publishing offers of buyer agent compensation was August 17, 2024.
For more information on the lawsuit go to the Nebraska Association of Realtor’s website Newsflash and Forms Update, the National Association of Realtors NAR Settlement Facts, and the Association of Real Estate License Law Officials (ARELLO) NAR Settlement Page, you may also want to consult with your broker on how they are responding to the new requirements.
Licensees who are members of the State Association are subject to the requirements of the settlement, and licensees who are not members have no obligation to comply with the class action settlement requirements.
All licensees are subject to the Nebraska Real Estate License Act. Nebraska License Law and the Nebraska Real Estate License Act and regulations have not changed and are still applicable in all instances.
Please remember:
Provide and agency disclosure to all unrepresented customers and potential clients at first substantial contact.
Provide copies of all disclosures, agency agreements and transaction documents to your client.
If an agent is being compensated by more than one party to a transaction, written disclosure regarding that compensation is required to be signed and dated by all parties prior to entering into a contract for purchase.
Maintain all disclosures, transaction documents, agency and listing agreements in your transaction files for audit.
The nuance of explaining the buyer agency agreement requirement (if applicable to you as a licensee): “I as an agent am required to have the agency agreement signed before I work with you as a buyer’s agent”—as opposed to “you as a buyer are required to sign a buyer’s agency agreement” (implying it is a universal requirement and not a requirement limited to those subject to the requirements of the class action lawsuit. There are of course several ways that this can be expressed, but the explanation needs to go beyond stating the buyer is required (“legally”, “by law”, etc.) to sign such an agreement.
New Commission Policy and Interpretation of Wholesaling Activity
At its August 15, 2024, meeting, The Nebraska Real Estate Commission adopted an amendment to Policy and Interpretation #42, relating to marketing an equitable interest in real property.
The interpretation amends the existing policy to state that the optioning contracts for unimproved lots shall not be considered marketing an equitable interest in real property (wholesaling).
The text of the policy with the amendment can be found at: https://nrec.nebraska.gov/legal/policyinterpretation.html
New Regulations Relating to Advertising Adopted
Amendments to Nebraska Real Estate Commission Regulations. Title 299, Chapter 2, have been adopted and were effective May 5, 2024. The amendment to Title 299, Chapter 2, sec. 004 is clarifying language, the amendment to sec. 005 specifically states that a licensee advertising as a private party for the purchase of real property must disclose their license status in all such advertising.
The new language with the changes highlighted is located at: Nebraska Administrative Code 2024 Update
Errors and Omissions Insurance Renewal Reminder
Reminder, all licensees are required to have a current errors and omissions insurance policy in order to maintain an active real estate license.
Every year we send out hundreds of letters to licensees who are not required to renew their license at the end of the current year, but are required to renew their errors and omissions insurance and who have failed to do so.
If you do not have E & O Insurance extending past January 2, 2024, your license will be placed on inactive status, and you will not be able to conduct any activities requiring a Nebraska real estate license. You can check the status of your E & O insurance by logging in to your licensee portal on the login link on this page: https://nrec.nebraska.gov/licensing-forms/logininfo.html
If you have already renewed your E & O insurance please be aware that Errors and Omissions Insurance Providers typically send verification to the Commission within 48 hours. Please watch your portal and if verification is not received, please contact the provider. Only submit the Certification of Coverage form to the Commission Office, receipts and declaration pages will not be accepted.Connie Burleigh Appointed to the Commission
Governor Jim Pillen has announced the appointment of Connie Burleigh as the Congressional District 1 broker member of the Nebraska Real Estate Commission.
Commissioner Burleigh is the designated broker for CJ Burleigh Real Estate, P.C., in Lincoln, NE, and has been licensed as a broker since 2006. In addition, Burleigh has served President of the Nebraska REALTORS® Assocation.
Commissioners are appointed to six year terms, Burleigh replaces Darlene Starman of Lincoln.
Real Estate Examination Services - New Provider
Effective September 1, 2023, the Nebraska Real Estate license examination service provider will transition from PSI to Pearson VUE.
Applicants will or may already have received an email from Pearson Vue if they have met all requirements to take the examination. The exam scheduling function for exams scheduled with Pearson Vue on or after September 1, 2023, is now up and running.
Go to https://home.pearsonvue.com/ne/realestate for more information.
New Regulations Adopted
Effective August 20 the amendments to Title 299, Chapters 1, 2, 5, and 7, as well as Title 301, Sec. 1, were adopted and went into effect.
The amendments:
- Clean up obsolete language and references
- Provide procedures and assign agency roles when marketing an equitable interest in real property (wholesaling)
- Provide for changes to education submissions, eliminating the scheduling requirement for Commission Approved Training, and providing for renewal rather than expiration of such training. The changes eliminate the use of the TRG-2 for when scheduling Commission Approved Training
The amendments, which changes underlined, can be found here: https://nrec.nebraska.gov/legal/2023ruleamend.html
National Real Estate Exam Job Analysis
Pearson VUE is conducting a National Real Estate Job Analysis to update the National Real Estate Licensing Exams and invites real estate licensees to participate in a survey. Your participation in this survey is a simple way to give back to the real estate community and prepare the next generation of real estate licensees for success in the industry. To take the survey, please visit: https://go.pearsonvue.com/realestateJTA2023
Everyone Wants to Buy Your House-Make Sure You Know How Much it is Worth
Homeowners are receiving more and more offers to buy their homes through mailers “We have a cash offer for your home” “We would like to buy your property” or signs posted in neighborhoods “We Buy Houses (phone #)”, or similar email solicitations. These solicitations often come from real estate investors who are commonly known as “wholesalers”. For more information please review the full publication located on our website at: https://nrec.nebraska.gov/pdf/misc/everyonewantstobuyyourhouse.pdf
Home Inspector Registration
Are the Home Inspectors you work with or recommend registered with the Secretary of State? Beginning January 1, 2023, all Home Inspectors active in Nebraska are required to be registered with the Secretary of State and maintain a $250,000 liability insurance policy. Protect yourselves and your clients by working with a registered home inspector. You can check registration status here. Secretary of State Home Inspector List
Notice of Rulemaking Hearing
Amendments to Nebraska Real Estate Commission Regulations Title 299, Chapters 1, 2, 5, and 7, and Title 301, Chapter 1, related to clean up of obsolete language and references, changes related to real estate education and activity reporting and offering equitable interests in real property. https://nrec.nebraska.gov/legal/2023proposedruleamend.html
Commission Adopts Policy and Interpretation on Wholesaling Procedures
LB892, passed by the Legislature in the 2022 regular session, requires a real estate license for “publicly marketing for sale an equitable interest in a contract for the purchase of real property between a property owner and a prospective purchaser”, commonly referred to as “Wholesaling”. Wholesaling involves the acquisition and marketing of an assignable contract for the purchase of real estate for a profit by an investor or other member of the public.
A new Commission Policy and Interpretation lists and summarizes the agency and procedural requirements. Under the new law an agent assisting a wholesaler would be a seller’s agent for the wholesaler. There is a new agency disclosure form for wholesaling situations, the link to the form and instructions can be found below.
Agency roles and responsibilities in wholesaler representation can be found in the Commission Policy and Interpretation and new Agency Disclosure form instruction linked below.
Commission Policy and Interpretation on Wholesaling Activities
New Agency Disclosure Form
New Assignable Contract Addendum Form
New Agency Disclosure Instructions
Rocky Geiser Appointed to the Commission
Governor Pete Ricketts has announced the appointment of Rocky Geiser as the Congressional District 3 broker member of the Nebraska Real Estate Commission.
Commissioner Geiser is the designated broker for RE/MAX Executives, Inc., in Kearney, NE, and has been licensed as a broker since 1980. In addition, Geiser has served President of the Greater Nebraska Board of Realtors as well as various leadership and committee positions with the Nebraska Realtor’s Association.
Commissioners are appointed to six year terms, Geiser replaces Sheri Bourne of North Platte.
Notice of Cancellation of E & O Insurance
Many licensees may have recently received or are about to receive a notice of cancellation of Errors and Omission’s Insurance from Zurich American Insurance Company. Zurich is the Underwriter for Williams Underwriting group, the Commission’s Current provider under the state’s group plan, Williams will no longer be writing policies in Nebraska starting in 2023, but they will continue to honor claims/process claims pending when the insurance expires. You will be able to renew with uninterrupted coverage with Rice Insurance Services Group for your 2023 E & O insurance (or an equivalent coverage provider) prior to the expiration of coverage at the end of the year.
SPAM-Important Profile and Email Validation - (DO NOT OPEN)
Many of you may have received an email with the Nebraska Real Estate Commission Logo and the heading of "Important Profile and Email Validation" . This email is SPAM or Phishing. DO NOT OPEN LINKS. We have contacted our IT department regarding this issue.
Guidelines for Advertising Using Social Media
The Nebraska Real Estate Commission has recently developed guidelines and tips for using social media in real estate advertising. We hope this document will be helpful in answering your advertising questions https://nrec.nebraska.gov/pdf/Social%20Media%20Compliance2021.pdf. Further information regarding advertising regulations can be found in Title 299, Chapter 2, of the Commission’s Regulations
NREC Office Open to the Public
Effective June 1, 2021, the Nebraska Real Estate Commission is open to the public for Commission related business. You can also use our online portal for licensee applications, transfers, and more https://nrec.igovsolution.net/online/Login
Payments for Showings (UPDATED)
The following is supplemental information to the original “What’s New” statement on paying for showings and the article on payments for showings in the Spring, 2021 issue of the Commission Comment. It has come the Commission’s attention that some licensees may be paying other licensees directly for handling showings of properties. While it is acceptable to have another agent show a property for a customer or client, it is not acceptable for a licensee, other than a designated broker, to pay another licensee for such services, unless both licensees work for the same broker and the broker has provided authorization for such payments. The authorization must be in writing, but does not need to be specific to each agent or showing, a blanket authorization on file is adequate to meet the legal requirements.
No payment for Showings
It has come the Commission’s attention that some licensees may be paying other licensees directly for handling showings of properties. While it is acceptable to have another agent show a property for a customer or client, it is not acceptable for a licensee, other than a designated broker, to pay another licensee for such services.
Nebraska Revised Statute §81-885.01 defines a designated broker as a broker who has full authority to conduct real estate activities requiring a license and employ salespersons or associate broker to conduct such business under the broker’s supervision. The statute also defines Salesperson and Associate Broker as licensees who may only conduct real estate activities requiring a license under the employment and supervision of a broker. Paying another licensee directly if you are not a designated broker is employing someone for real estate services requiring a license and a violation of the License Act.
For more on handling absences and unavailability see the Winter 2012 Commission Comment
Consumer Guide to Buying or Selling a Home
The Nebraska Real Estate Commission has recently published an updated and improved version of our Consumer Guide to Buying or Selling a Home. This guide is available to view and download here https://nrec.nebraska.gov/pdf/forms/cnsm.pdf. Printed copies are also available at no charge from the Commission please call (402) 471-2004 or email realestate.commission@nebraska.gov to request your copies.
No Continuing Education Deadline Extension Due to Covid-19
The Commission has received a number of questions regarding whether continuing education deadlines will be extended due to Covid-19 concerns. There is no extension of deadlines or waiver of requirements for licensees whose continuing education is due at the end of this year (2020). The Commission has relaxed traditional classroom continuing education, and is allowing those classes to be offered over real time interactive platforms such as Zoom, WebEx, Microsoft Teams, etc. to limit public exposure in the classroom.
As always, we advise that you avoid late fees and missed deadlines by signing up for and completing classes early rather the last few days before renewal.
Changes to Trust Account Regulations Adopted
Amendments to Nebraska Administrative Code Title 299, Chapter 3 have been adopted, the new rules provide for a waiver application, subject to Commission approval, for broker’s who do not have a high volume of transactions and do not currently use, or anticipate using their trust account. There are also amendments to the Trust Account Manual and broker audit procedures to accommodate these changes. Lastly, the trust account manual is incorporated as an appendix to Title 299, Chapter 3.
Governor Moves Up Operative Date of The Online Notary Public Act
Governor Ricketts has changed the operative date of the Online Notary Public Act from July 1, 2020, to April 2, 2020, by executive order. The new law allows notarial acts to be performed remotely by notaries after proper registration with the Secretary of State. Registration information can be found here. The executive order was issued to promote compliance with social distancing recommendations by allowing the use of remote notary services in real estate and other legal transactions .
Governor Ricketts suspends evictions for those affected by the Coronavirus -
Gov. Ricketts issued an executive order to prevent evictions of Nebraskans significantly impacted by COVID-19. The order prevents the eviction of renters unable to pay rent due on or after March 13th because of the COVID-19 pandemic. The Governor indicated that the relief is intended for those who have become ill, lost income due to job loss or wage reductions, or missed work to care for a loved one (e.g., a child who cannot attend school or a sick family member) due to the pandemic. At the same time, he called on tenants to work to fulfill their contractual obligations. The executive order does not cancel any rent payments; it simply defers a landlord’s right to a trial in an eviction action—for unpaid rent—until May 31, 2020.
COVID-19 Update, Health and Safety in Your Real Estate Practice
The Commission does not have the authority or inclination to regulate what types of real estate activities should or should not occur in in light of the COVID-19 outbreak, nor are we health experts, but we urge all licensees to be cognizant of the situation and exercise common sense in their practice
--Familiarize yourself and follow CDC guidelines regarding personal hygiene, group gatherings and personal contact, a good summary can be found here: https://tinyurl.com/CDC-Workplace-School-and-Home as well as more detailed information and updates here: http://dhhs.ne.gov/pages/Coronavirus.aspx
--If you are exhibiting symptoms consistent with those associated with the virus and/or have been exposed self-quarantine and get tested as soon as possible
--If you know or have reason to believe a client, member of the public, or property, is infected or has been exposed to the virus take reasonable steps within your power to limit further exposure to the public
--Stay informed--updates and recommendations from federal, state and local authorities are changing daily
--Talk to your clients about how they want to deal with showings, open houses, and other meetings and interactions with both yourself and other parties
--Make sure that hand sanitizer and wipes are available for use at showings and open houses
--Technology is your friend, explore the options of virtual showings and walk-throughs, pictures of _______ on request, etc.
--Be flexible and prepared, consider allowing more time for closings. Loan approvals and inspections, appraisals, etc. may experience delays, work with your clients to make sure these are simply delays, and not roadblocks to the transaction
NREC OFFICE TEMPORARILY CLOSED TO THE PUBLIC - See information located at: https://nrec.nebraska.gov/licensing-forms/tempclosed.html
Lisa Ritter Appointed to the Commission
Governor Pete Ricketts has announced the appointment of Lisa Ritter as the broker member at large of the Nebraska Real Estate Commission.
Ms. Ritter is the designated broker for Ritter Enterprises, Inc., RE/MAX Results in Omaha, NE, and has been licensed as a broker since 2011. In addition, Ritter served as the President of the Omaha Area Board of Realtors in 2012 and the Nebraska Realtor’s Association in 2015.
Commissioners are appointed to six year terms, Ritter replaces Andy Alloway of Omaha.
The Trust Account Manual has been updated to allow for automated withdrawal of trust account funds in property management accounts under certain circumstances. Please review the update available on our website at: https://nrec.nebraska.gov/legal/trustaccountmanualupdates.html
License Fee Exemption for Active Military
The Nebraska Legislature recent passed LB12 which went into effect upon being signed by the Governor on March 6, 2019. The bill provides a waiver of the license fee for active military members and their spouses who are licensed in another state and assigned to Nebraska, and also active military licensed in Nebraska in the last three years. Further information on the fee waiver process can be found here: https://nrec.nebraska.gov/licensing-forms/veterans.html
Changes to Broker-Approved Training Procedures
Effective immediately Broker Approved Training will be known as Commission-Approved Training pursuant to a change in Title 299 Chapter 7 of the Commission’s regulations. The amendment to the regulations eliminates the broker approval step and allows all licensees who take training activities approved by the Commission to get credit for those classes. Please note that the change does not completely do away with the TRG2 Form, that form will still need to be completed to show when courses are being offered—but will only need to be filled out by the course provider, and will not have to be signed by each individual broker whose affiliated licensees attend the training.
Full text of the regulations with the changes highlighted can be found here:
https://nrec.nebraska.gov/pdf/education/7-299CH1redlineposthearing.pdf
https://nrec.nebraska.gov/pdf/education/299CH7redline.pdf
Real Estate Commission Welcomes New Chairperson – Robert B. Evnen
On January 10th, 2019, Robert B. Evnen was sworn in as Nebraska’s 27th Secretary of State replacing retiring Secretary of State John Gale. In his capacity as Secretary of State, Secretary Evnen serves as Chairperson of the Real Estate Commission.
Evnen was born in Sioux City, Iowa and then raised in Lincoln, Nebraska, he graduated from Michigan State University with a bachelor's degree in social science and from the University of Southern California's Gould School of Law with a Juris Doctor. Evnen began his career in California, but moved to Lincoln to raise his family, he has been a private practice attorney in Lincoln for over 30 years, and has a long history of public service in the community. He served for eight years on the Nebraska State Board of Education Evnen also served for many years as a board member of Nebraska Continuing Legal Education, Inc., the education arm of the Nebraska State Bar Association and in numerous leadership roles in the Nebraska Republican Party.
Joe Gehrki Appointed to the Commission
Governor Pete Ricketts has announced the appointment of Joe Gehrki as the second district broker member of the Nebraska Real Estate Commission.
Mr. Gehrki is an associate broker for Berkshire Hathaway HomeServices, Ambassador Real Estate in Omaha, NE, and has been licensed as a broker since 2008. In addition, Gehrki has been the President of the Omaha Area Board of Realtors in 2008 and the Nebraska Realtor’s Association in 2012, and also served many non-profit committees and boards in the Omaha area.
Commissioners are appointed to six year terms, Gehrki replaces Herb Freeman of Omaha.
Darlene Starman Appointed to the Commission
Governor Pete Ricketts has announced the appointment of Darlene Starman as the first district broker member of the Nebraska Real Estate Commission.
Ms. Starman is an associate broker for Woods Brothers Realty in Lincoln, NE, and has been licensed as a broker since 1998. In addition Starman has been active with the both the National and the Nebraska Realtor’s Associations and also served on the Nebraska Educational Television Commission and the Nebraska Judicial Nominating and Resources Commissions.
Commissioners are appointed to six year terms, Starman replaces Drew Stange of Lincoln.
Important Notice: Billing Scams
Licensee have reported receiving text messages from the Nebraska Real Estate Commission regarding payments. THESE TEXTS ARE SCAMS AND SHOULD BE IGNORED, DO NOT CLICK ON THE LINK. As with any electronic message regarding payments, passwords, or account access, call and talk to someone from the office purporting to be the sender of the message or otherwise verify validity before taking any action.
New Information Required on Agency Disclosure Form Effective July 1, 2017 (updated 5/31/17, Please Read)
There have been slight revisions to the new agency disclosure form as it was originally posted here a couple weeks ago. The new form is mandated for all agency disclosures made on or after July 1, 2017. Detailed instructions have also been added, to access the final version of the new form and instructions for its use please click here:
https://nrec.nebraska.gov/legal/AGENCYDISCLOSURES2017.html
New Team and Advertising Regulations Adopted, Effective July 1, 2017
The Attorney General and Governor have reviewed and approved the amendments to Title 299, Chapters 1, 2 and 7, further clarifying advertising requirements for real estate teams and affiliated licensees. The new regulations also establish continuing education requirements for team members, team leaders, and brokers who supervise teams.
Important Changes to Record Keeping Requirements - Please click on the link for information relating to record keeping requirements - Updates to Trust Accuont Manual are available at: https://nrec.nebraska.gov/legal/trustaccountmanualupdates.html
On January 19, 2017, the Commission will be holding public hearing on changes to Nebraska Administrative Code, Title 299, Chapter 1, 2, and 7, relating to real estate teams and team and affilaite licensee advertising rules. You may review the specific language of the amendments and comment on the changes by visiting our website.
The Nebraska Real Estate Commission has adopted amendments to the Seller Property Condition Disclosure Statement (“SPCD”), a question has been added about carbon monoxide alarms, an additional question has also been added about noxious weeds. Although the form is not much different, it is important that the new form be provided for all transactions entered into on or after January 1, 2017. LB34 specifically provides that the requirement is effective for all existing property “offered for sale” on or after January 1, 2017. A property under contract is no longer offered for sale, so pending contracts entered into prior to 2017 would not require the new form. The new form can be found here: https://nrec.nebraska.gov/pdf/forms/SPCD117.pdf
November 17, 2016 - Proposed Rule AmendmentsÑTitle 299, Chapter 3 On November 17, 2016, the Commission will be holding public hearing on changes to Nebraska Administrative Code, Title 299, Chapter 3, relating to records retention requirements for designated brokers. You may review the specific language of the amendments and comment on the changes by visiting our website.
LB678 “Teams Bill,” Advertising Changes, Effective October 1, 2016
Effective October 1, 2016, real estate teams will be officially recognized under the Nebraska Real Estate License Act for the first time. There are a number of things that designated brokers specifically and licensees and real estate team members in general, should be aware of relating to compliance with the new act.
1. Definition of Team: “Two or more persons licensed by the commission who (a) work under the supervision of the same broker, (b) work together on real estate transactions to provide real estate brokerage services, (c) represent themselves to the public as being part of a team, and (d) are designated by a team name”
Please note that this is an “and” definition, all of the prerequisites above must be met in order for two or more affiliated licensees to qualify as a team under the new law. For example, a married couple who does co-listings, even on a regular basis, would not be considered a team unless they adopt and use a team name, holding themselves out to the public and clients as a team.
2. All teams must appoint a team leader, who will have supervisory responsibility (under supervision of the designated broker) over the team members. The team leader may be subject to disciplinary action for violations of the License Act by team members under his or her supervision, depending on the facts and circumstances of the complaint.
3. Effective October 1, 2016, team leaders must provide, and designated brokers must maintain, a current list of all team members and the name of the team leader. This list is to be made available to the Commission upon request.
All designated brokers should have their list including team name, team members and team leaders on an internal file on or before October 1, 2016. The records should note the dates team members are added or dropped from the team and enable the broker or Commission to determine team membership at any point in time.
4. Effective October 1, 2016, all advertising (team or otherwise) must “prominently” display the name under which the designated broker does business. While we anticipate further definition of prominence through Commission interpretation or regulation in the near future, a review of all current and proposed advertising by designated brokers would be prudent to determine if the brokerage name is readily apparent from a quick review of the advertisement.
5. Effective October 1, 2016, Team names or team advertising must not suggest that the team is an independent real estate brokerage. Further guidelines are expected to follow, but once again, designated brokers should review all current and proposed team advertising for compliance with the law. In order to avoid potential confusion or violation of the new team advertising laws just remember the “Two Ps”: the name the designated broker does business under should be both “prominent” (plainly visible) and in “proximity to” (near) the team name.
Sharon "Sheri" Kay Bourne Appointed to the Commission
Governor Pete Ricketts has announced the appointment of Sharon "Sheri" Kay Bourne as the third district broker member of the Nebraska Real Estate Commission.
Ms. Bourne is the designated broker for Gateway Realty of North Platte, Inc., and has been licensed as a broker since 1978. In addition Bourne has been active with the Nebraska Realtor’s Association and Served on the Board of Directors of the North Platte Chamber of Commerce.
She will serve a six year term and replaces Al Avery of Grand Island.
June 2016 - Commission Prevails in Unlicensed Practice Appeal
The Nebraska Real Estate Commission has received a favorable opinion regarding the enforceability and constitutionality of its unlicensed practice statutes. The United States Court of Appeals affirmed the trial court’s opinion dismissing the Leslie Rae Young v. The Nebraska Real Estate Commission case. In 2010 the Commission issued a cease and desist order against Young after discovering Nebraska properties listed by Young on Realtor.com and other websites. Young challenged the order by filing suit in federal court, challenging the validity and enforceability of the order on various constitutional claims. The complete opinion can be found here: https://nrec.nebraska.gov/pdf/misc/LRYAppealOp.pdf
May 19, 2016 - Proposed Rule Amendments—Title 299, Chapter 1, Title 299, Chapter 7, Title 302 Chapter 1
On May 19, 2016, the Commission will be holding public hearings on changes to Nebraska Administrative Code, Title 299, Chapter 1, allowing the Commission to certify pre-license real estate education offered in correspondence format; Title 299, Chapter 7, requiring a 3 hour continuing education class in property management for licensees engaged in that activity; and, Title 302, Chapter 1, adding questions about carbon monoxide alarms and noxious weeds to the Seller Property Conditions Disclosure Statement.
February- 2016 - TRID the TILA-RESPA Integrated Disclosure Rule "TRID" and License Number Disclosure - UPDATE
In order to make compliance with the new TRID requirements regarding agent license numbers on the new financial disclosure forms easier, the Commission is now including license numbers on the information provided on our website for individual licensee searches. Click on the “Licensee & Applicant Information Search” on the left side of the Commission homepage to access the licensee search function. The license numbers are displayed on the lower right of on the individual licensee information pages.
The TRID requirements from the Consumer Finance Protection Bureau regarding the paperwork required for closing most consumer credit transactions secured by real property, such as a traditional residential mortgage require real estate licensees acting as agents in the transaction to provide their individual salesperson’s or broker’s license number. In the past we have generally advised licensees to keep their license numbers private, however, they will need to provide them to the lending institutions under the new law. The forms also ask for a “State License ID”. This has been interpreted or referred to shorthand as a company ID or broker ID or license number. The Commission does not issue a “State License ID” to brokerage companies, and some lenders do not ask for it on the form. However some lenders do request a company or broker ID, in those instances the designated broker’s individual license number should be provided. The designated broker’s license number is also available on our website through the individual licensee search function.
September - 2015 - Jim Titus Appointed to the Commission
Governor Ricketts has announced the appointment of Lincoln attorney Jim R. Titus to the as the public member of the Nebraska Real Estate Commission. Mr. Titus’s experience includes serving as a prehearing conference officer as well as providing general legal counsel services for the Commission in the past. Titus has been appointed to a six year term and replaces public member David Ptak.
September - 2015 - TILA-RESPA Changes Effective October 3rd
Effective October 3, 2015, the new Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act of 1974 (RESPA) Integrated Disclosure Rule goes into effect. The TILA/RESPA rules changes, which apply to applies to most closed-end consumer credit transactions secured by real property (such as a traditional mortgage) change the requirements and terminology for the financial disclosure estimates that lenders must provide to the buyer/borrower. The rules, primarily aimed at lenders, will have a significant effect on real estate lending and closings. Information on how this will impact real estate licensees can be found at: https://www.consumerfinance.gov/policy-compliance/guidance/tila-respa-disclosure-rule/
September - 2015 - New Commission Policy and Interpretation on Coming Soon Listings
At the September 17th, 2015, meeting of the Nebraska Real Estate Commission a new policy was adopted on the use of “coming soon” advertising for real estate listings, the full text of the policy can be found at: https://nrec.nebraska.gov/legal/policyinterpretation.html
August - 2015 - 2015 Legislative Changes
The Nebraska legislature passed a number of bills in 2015 that may affect your licensed practice:
LB34 Carbon Monoxide Safety Act Requires working carbon monoxide alarms in residential property “that has a fuel-fired heater or appliance, a fireplace, or an attached garage” Also requires information about compliance with the Carbon Monoxide Safety Act on the Seller Property Condition Disclosure Statement. Effective Date: January 1, 2017
LB253 Acknowledgment of Purchase Agreements Eliminates the requirement that the signature of both spouses on purchase agreement for homestead properties acknowledged before a notary. Effective Date: August 30, 2015
LB375 BPOs and CMAs for Property Tax Appeals Expands the allowable use of broker price opinions and comparative market analyses to include such opinions rendered for property tax valuation appeal purposes. Such opinions, if performed for a fee, would require the statutory disclosure language found in §81-885-16(2). Effective Date: August 30, 2015
LB324 Require Acknowledgements from Purchasers of Property in Sanitary Improvement Districts Requires the salesperson or broker in listed properties or the owners where there is no agent involved, to get an acknowledgment from the purchaser of property located within a sanitary improvement district that they understand that the property is located in the sanitary improvement district; sanitary and improvement districts are located outside the corporate limits of any municipality; residents of sanitary and improvement districts are not eligible to vote in municipal elections; and owners of property located within sanitary and improvement districts have limited access to services provided by nearby municipalities. The Commission has developed a SID Acknowledgment form which may be used for the acknowledgement, the acknowledgment may also be incorporated into the purchase agreement. Effective Date: August 30, 2015
Full text of the above legislation can be found on the Legislature’s website: https://www.nebraskalegislature.gov/ simply search on the bill number in the upper left hand corner.
June - 2015 - The Nebraska Real Estate Commission Office is Moving
The Nebraska Real Estate Commission Office will be moving from the
current location in The Atrium in Downtown Lincoln to the State Office
Building at 301 Centennial Mall South. The move is anticipated to be completed by mid-June 2015. The specific date of the move will be posted here when it becomes available.
May - 2015 - New Agency Disclosure Forms Approved
The Nebraska Real Estate Commission has approved new agency disclosure forms for use effective May 1, 2015.
The new forms can be found here:
Buyer/Seller Form
Landlord/Tenant Form
Common Law Agency Addendum
Instructions for filling out the Agency Disclosure forms - including option broker information on reverse side of form.
Please note that the laws regarding agency disclosure have not changed, and the agency disclosure form should still be presented at first substantial contact.
January - 2015 - Unlicensed Practice Challenge Dismissed
The Nebraska Real Estate Commission prevailed in its motion to dismiss the federal lawsuit challenging the Commission’s authority to regulate unlicensed brokerage practices. In 2010 the Nebraska Real Estate Commission sent a cease and desist order to Leslie Rae Young, a California Licensed Broker listing Nebraska Real Estate on Realtor.com. Young challenged the constitutionality of the unlicensed practice enforcement statutes, including newly adopted provisions allowing the Commission to impose a civil penalty of up to $1000 per day for unlicensed practice, in Federal District Court. On January 29, 2015, the court issued an opinion upholding the statutes and granting the Commission’s motion to dismiss the lawsuit. The case is still subject to appeal.
The full opinion can be found here: https://nrec.nebraska.gov/pdf/misc/LRY%20Memorandum%20and%20Order.pdf
August 2014 - Ann Dover Appointed as New Commissioner
Governor Dave Heineman has announced the appointment of Ann Dover as the Salesperson Member at Large representative on the Nebraska Real Estate Commission.
Dover lives in Norfolk where she works for Coldwell Banker Dover Realtors, she has had over 25 years experience as a salesperson.
Dover has served as a Commissioner on the Nebraska Equal Opportunity Commission and has worked with the Realtors Association at the national, state and local levels.
Dover’s six year appointment is effective on August 29th, 2014. She replaces Kathryn Rouch, whose term expires this year.
New License Application Procedure
Review the "Directions for Efficiently Proceeding Through the Application Process" located on our website at: https://nrec.nebraska.gov/pdf/applicationprocess.pdf
Proposed Rule Amendments
The Commission will be holding a public hearing on changes to the Title 299, Chapters 7 & 9 on September 27, 2013. The proposed amendments will provide that both the broker-approved training recognition and time-share exchange agent filings expire after 3 years.
Late renewal option expires July 1, 2013. Please review the late renewal procedures on our website at: https://nrec.nebraska.gov/licensing-forms/laterenewalprocedures.html
The Nebraska Real Estate Commission Meeting originally scheduled for Thursday February 21, 2013 has been cancelled due to weather conditions. The Agenda items for the February Meeting will be taken up at the March Meeting.
First Substantial Contact Policy and Interpretation- Adopted January 17, 2013
The Policy is available on our website under Policies and Interpretations or directly by clicking HERE.
RENEWAL UPDATE
PLEASE REMEMBER THAT ALL LICENSEES SHOULD CHECK THE EXPIRATION DATE OF THEIR ERRORS AND OMISSIONS INSURANCE WHETHER OR NOT THEIR REAL ESTATE LICENSE EXPIRES THIS YEAR. LICENSES MAY NOT BE HELD ON ACTIVE STATUS WITHOUT PROOF OF CURRENT INSURANCE COVERAGE IN THE COMMISSION OFFICE.
- Information relative to the Commission-offered Errors and Omissions Insurance from RISC is available at: https://www.risceo.com/states/nebraska/.
BRANCH OFFICE LICENSES EXPIRE EVERY YEAR
- Designated Brokers: If you received a blue renewal postcard but you are not due to renew your broker license this year, it was sent to remind you to renew your branch office. Unfortunately, it did not contain any mention of branch renewal, all branches you intend to use in 2013 need to be renewed by December 31st, 2012, whether your license renewal is due this year or not.
Follow us on Facebook and Twitter
The Nebraska Real Estate Commission is pleased to announce that we now have accounts on both Facebook and Twitter, follow us for all the latest NREC news, Nebraskarealestatecommission on Facebook, and Nerealestatecom on Twitter, click on the icons here to get started.
June 2012 -Seller Property Condition Disclosure Statement Effective July 1
The newly adopted Seller Property Condition Disclosure Statement (“SPCD”) has been approved by the Commission and adopted through the rule and regulation process. It goes into effect on July 1, 2012.
The form is of course to be filled out by the Seller, but licensees frequently provide the form so they need to be aware of the changes.
Seller’s filling out the form on or before June 30, 2012 should use the old form, seller’s filling out the form on or after July 1, 2012 should use the new form. If the seller becomes aware that information contained on the old form is no longer accurate after July 1, 2012, and they need to amend the statement, they should be advised to use the new form and fill it out so that it is complete and accurate to the best of the seller’s knowledge. A seller may provide the old form on a closing after July 1, as long as the form was filled out before July 1, and the information is still complete and accurate at the time of closing.
A copy of the new form is available by clicking here.
June 2012 - No BPOs and CMAs for Property Tax Appeals
Licensees are often asked to do Broker Price Opinions (“BPOs”) or Comparative Market Analysis (“CMAs”) for property tax assessment appeal purposes. BPOs and CMAs are for the assistance of buyers and sellers in marketing properties, and licensees should not complete them for tax protest purposes. The exemptions in the Real Property Appraiser Act for valuations for real estate tax purposes does not apply to real estate licensees.
May 2012 - Herbert Freeman Appointed as New Commissioner
Governor Dave Heineman has announced the appointment of Herbert Freeman as the Second Congressional District Broker Representative on the Nebraska Real Estate Commission. Mr. Freeman worked as an English instructor both at the high school and college levels before receiving his salesperson’s license in 1972 and his broker’s license in 1973. Mr. Freeman has his Masters degree in business administration from the University of Nebraska and currently works as Chief Operations Officer for NP Dodge Real Estate Sales, Inc., and he is Director of Builder Services and the designated broker for NP Dodge VII, L.L.C. in Omaha.
Freeman’s six year appointment is effective on August 29th, 2012. He replaces Vince Leisey, whose term expires this year.
February 2012 - Proposed Amendments to the Nebraska Real Estate Commission Rules and Regulations
Information on the proposed amendments and notice of Rule and Regulation Hearing is located on our website at: https://nrec.nebraska.gov/legal/2012proposedruleamend.html
January 2012 - Broker-Approved Training
Please see information for all licensees as well as information for those considering becoming Providers of broker-approved training activities on our website at: https://nrec.nebraska.gov/licensing-forms/educationinfo.html
Don't miss the questions most frequently asked on this subject and their answers, also found on the website at: https://nrec.nebraska.gov/additional-links/faqbrokertraining.html
August 26 - Asset Management Changes Effective August 27
LB25 changes provisions regarding obligations of licensees when dealing with asset management companies effective August 27, 2011. For more information see the last page of the Summer 2011 Commission Comment.
August 25, 2011 - Commissioner Rita Griess Retires
Commissioner Rita Griess has completed her six year term on the Nebraska Real Estate Commission. Commissioner Griess was the broker representative from the First Congressional District, and put her 25 years of real estate experience to good use on the Commission. Griess will continue her practice of real estate in Lincoln.
August 4, 2011 - Drew Stange Appointed as New Commissioner
Governor Dave Heineman has announced the appointment of Drew Stange as the First Congressional District Broker Representative on the Nebraska Real Estate Commission. Mr. Stange received his salesperson’s license in 1992 and his broker’s license in 1996. He is the designated broker for NAI FMA Realty in Lincoln. Mr. Stange is a lifelong Lincoln resident, where he lives with his wife Holly and has two children, he is also active in many charitable and philanthropic organizations in the community.
His six year appointment is effective on August 29th, he replaces Rita Griess, whose term expires this year.
June 2011 - Proposed Amendments to the Nebraska Real Estate Commission Rules and Regulations
Information on the proposed amendments and notice of Rule and Regulation Hearing is located on our website at: https://nrec.nebraska.gov/legal/2011proposedruleamend.html
May 2011 -
CLICK HERE FOR IMPORTANT CHANGES STARTING WITH THE 2011-2012 CONTINUING EDUCATION PERIOD!
January 2011 -
Commission Legislation 2011
LB23 - Change renewal and fee provisions of the Nebraska Real Estate License Act
LB24 - Provide training requirements under the Nebraska Real Estate License Act
LB25 - Provide exemptions relating to real property for asset management companies
September 29, 2010 -
FORGOT YOUR PASSWORD?
Many filings with the Commission can be filed online using the licensee's username and password. If you lost your password or want to change your password, please review the Password and Username Information .
September 15, 2010 -
License Manual Update - A paper copy has been sent to all designated brokers and branch managers. Affiliated licensees have been notified via postcard that the updates are available on the website at: https://nrec.nebraska.gov/legal/licensemanualupdates.html
or they may request a paper copy, free of charge, by contacting our office either by phone at (402) 471-2004 or E-mail your request to realestate.commission@nebraska.gov
Please provide your Name, Address, City, State, and Zip code.
August 27, 2010 -
Governor Heineman has appointed Alvin A. Avery to be the broker representative from the Third Congressional District on the Nebraska Real Estate Commission. Avery is a branch manager for Woods Brothers Realty in Grand Island, and has had his real estate license since 1987. Avery has been appointed to a six year term on the seven member Commission, and will be sworn in and offcially begin his duties at the September 30th Commission meeting.
August 25, 2010 -
Commissioner Wes Grady has completed his six year term on the Nebraska Real Estate Commission. Commissioner Grady was the broker representative from the Third Congressional District, and put his 40 years of real estate experience to good use on the Commission. Grady will continue his practice of real estate as a broker in North Platte.
August 2, 2010 -
The Commission's new website design was revealed. Please note that the new website address is www.nrec.ne.gov
Please let us know what you think either by e-mail or on the comments form.
August 2, 2010 -
The Commission began taking Discover credit card payments in addition to the Visa and MasterCard payments already accepted.
Help Stop Mortgage Fraud:
Please review the information located at: https://www.justice.gov/archives/stopfraud-archive
Electronic Notification Service:
You can sign up for the latest news and alerts from the Commission by clicking here. The Electronic Notification Service will provide notices of statutory changes and regulatory hearings, scam alerts and other information of importance to the Commission, licensees and public.
