INFORMATION ABOUT BROKERAGE SERVICES
The information contained herein has been given to us by the owner of the property or other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be veried prior to purchase or lease. Site plan subject to change without prior notice
.
NewMarket Advisors
5245 South Durango Drive • Las Vegas, Nevada 89113 • newmarketadvisors.com
June 13, 2024
TYPES OF REAL ESTATE LICENSE HOLDERS:
• A BROKER is responsible for all brokerage activities, including acts performed by sales
agents sponsored by the broker.
• A SALES AGENT must be sponsored by a broker and works with clients on behalf
of the broker.
In Nevada, a real estate licensee is required to provide a form setting forth the duties owed by
the licensee to:
a) Each party for whom the licensee is acting as an agent in the real estate transaction, and
b) Each unrepresented party to the real estate transaction, if any.
LICENSEE’S DUTIES OWED TO ALL PARTIES:
A Nevada real estate licensee shall:
1. Not deal with any party to a real estate transaction in a manner which is deceitful,
fraudulent or dishonest.
2. Exercise reasonable skill and care with respect to all parties to the real estate transaction.
3. Disclose to each party to the real estate transaction as soon as practicable:
a. Any material and relevant facts, data or information which licensee knows, or with
reasonable care and diligence the licensee should know, about the property.
b. Each source from which licensee will receive compensation.
4. Abide by all other duties, responsibilities and obligations required of the licensee in law
or regulations.
LICENSEE’S DUTIES OWED TO THE CLIENT:
A Nevada real estate licensee shall:
1. Exercise reasonable skill and care to carry out the terms of the brokerage agreement
and the licensee’s duties in the brokerage agreement;
2. Not disclose, except to the licensee’s broker, condential information relating to a
client for 1 year after the revocation or termination of the brokerage agreement, unless
licensee is required to do so by court order or the client gives written permission;
3. Seek a sale, purchase, option, rental or lease of real property at the price and terms
stated in the brokerage agreement or at a price acceptable to the client;
4. Present all offers made to, or by the client as soon as practicable, unless the client
chooses to waive the duty of the licensee to present all offers and signs a waiver of the
duty on a form prescribed by the Division;
5. Disclose to the client material facts of which the licensee has knowledge concerning the
real estate transaction;
6. Advise the client to obtain advice from an expert relating to matters which are beyond
the expertise of the licensee; and
7. Account to the client for all money and property the licensee receives in which the client
may have an interest.
Duties Owed By a broker who assigns different licensees afliated with
the brokerage to separate parties.
Each licensee shall not disclose, except to the real estate broker, condential
information relating to client.
CONFLICT OF INTEREST:
A licensee in a real estate transaction may legally act for two or more parties
who have interests adverse to each other. In acting for these parties, the
licensee has a conict of interest.
DISCLOSURE OF CONFIDENTIAL INFORMATION:
Licensee will not disclose any condential information for 1 year after the
revocation or termination of any brokerage agreement entered into with a
party to this transaction, unless Licensee is required to do so by a court of
competent jurisdiction or is given written permission to do so by that party.
Condential information includes, but is not limited to, the client’s motivation
to purchase, trade or sell, which if
disclosed, could harm one party’s bargaining position or benet the other.
DUTIES OF LICENSEE:
Licensee shall provide you with a “Duties Owed by a Nevada Real Estate
Licensee” disclosure form which lists the duties a licensee owes to all parties
of a real estate transaction, and those owed to the licensee’s client. When
representing both parties, the licensee owes the same duties to both seller
and buyer. Licensee shall disclose to both Seller and Buyer all known defects
in the property, any matter that must be disclosed by law, and any information
the licensee believes may be material or might affect Seller’s/Landlord’s or
Buyer’s/Tenant’s decisions with respect to this transaction.
NO REQUIREMENT TO CONSENT:
You are not required to consent to this licensee acting on your behalf.
You may
• Reject this consent and obtain your own agent,
• Represent yourself,
• Request that the licensee’s broker assign you your own licensee.
This information was taken from form 504 and 503
with the Nevada Real Estate Division.
When you choose to do business with us the proper form will be presented
for signature. To see these forms please visit NVRED.com.