Nevada Agency Model Quick Reference

📋 The 1-minute cheat sheet

• Nevada uses written brokerage agreements and a mandatory "Duties Owed by a Nevada Real Estate Licensee" disclosure given to clients.
• Statutory duties owed to all parties include honesty, fairness, good faith, and disclosure of material facts the licensee knows.
• A licensee who represents a client owes added duties such as exercising reasonable skill and care, promoting the client's interests, and protecting confidential information.
• A single licensee may act as an agent for both buyer and seller only with the prior written consent of both parties (assigned/dual-style representation).
• When acting for both sides, the licensee must give a "Consent to Act" disclosure and obtain written consent from each party.
• Disclosures of representation and duties must generally be provided before the parties become bound, at the appropriate point in the transaction.
• Confidential information must be protected unless disclosure is required by law or authorized by the client.
• Material facts about the property and transaction must be disclosed regardless of which party the licensee represents.