1.  The license of each real estate broker-salesperson or salesperson must be delivered or mailed to the real estate broker with whom the licensee is associated or to the owner-developer by whom the licensee is employed and must be kept in the custody and control of the broker or owner-developer.

Terms Used In Nevada Revised Statutes 645.530

  • owner-developer: means a person who owns five or more lots within a recorded subdivision, shown on an approved parcel map, or the parceling of which has been approved by the county, on each of which there is a single-family residence not previously sold. See Nevada Revised Statutes 645.018
  • real estate: means every interest or estate in real property including but not limited to freeholds, leaseholds and interests in condominiums, town houses or planned unit developments, whether corporeal or incorporeal, and whether the real property is situated in this State or elsewhere. See Nevada Revised Statutes 645.020

2.  Each real estate broker shall:

(a) Display his or her license conspicuously in the broker’s place of business. If a real estate broker maintains more than one place of business within the State, an additional license must be issued to the broker for each branch office so maintained by the broker, and the additional license must be displayed conspicuously in each branch office.

(b) Maintain in his or her place of business the licenses of all real estate broker-salespersons and salespersons associated with him or her therein or in connection therewith. The licenses must be kept in a secure manner and, upon request, made available for inspection by the public and the Division during usual business hours.

3.  Each owner-developer shall maintain in his or her place of business the license of each real estate broker-salesperson and salesperson employed by him or her. The licenses must be kept in a secure manner and, upon request, made available for inspection by the public and the Division during usual business hours.

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