How to Become a Real Estate Agent in Nebraska

To become a real estate agent in Nebraska, you must first be licensed by the Nebraska Real Estate Commission. You must first complete the required education at an approved real estate school.


Here's what you need to know to become a real estate agent in Nebraska:
1) Licensing Requirements
2) License Renewal and Continuing Education Requirements
3) What is a REALTOR®?
4) Income Potential
5) Real Estate Schools


How to Become a Real Estate Agent in Nebraska

1) Real Estate Agent Licensing Requirements in Nebraska
You MUST be licensed by the Nebraska Real Estate Commission  in order to be a real estate agent in Nebraska.

To obtain your Nebraska real estate agent's license so that you can practice as a real estate agent in Nebraska, you must:

i) Satisfy the minimum requirements requirements to apply to sit for the real estate exam:

ii) Submit 2 fingerprint cards to the Nebraska State Patrol at least 6 weeks prior to submitting the license application. There is a $33 fee.

 

ii) Submit a completed Nebraska Real Estate Salesperson Application along with:

iii) Upon receiving notification of your eligibility, Register, Take and pass the Nebraska salesperson exam. The exam is 3.5 hours long with 100 questions for the national portion and 32 questions on the state portion. To pass, you'll need to answer at least 75% correctly on both portions.

iv) Complete and submit application for real estate license to the Nebraska Real Estate Commission along with:

 

2) License Renewal and Continuing Education Requirements

The New Hampshire real estate salesperson license is valid for 2 years. To continue practicing as a real estate agent in New Hampshire, you must complete the required continuing education and pay the appropriate license renewal fees.

The continuing education requirement is 3 hours of core course and 6 hours of electives. There is a renewal fee of $70.

 

3) What is a REALTOR®?

A real estate agent is a REALTOR® when he or she pays an annual fee to be a member of the National Association of REALTORS® and subscribe to its Code of Ethics.

The agent generally join through the local board or association.

For example, in Omaha, NE once you have obtain your real estate license, you may pay a fee to join the OMAHA AREA BOARD OF REALTORS®.

Joining the local board makes you a member of the NEBRASKA ASSOCIATION OF REALTORS® and the National Association of REALTORS®.

All REALTORS® are real estate agents but not all real estate agents are REALTORS®.

 


4) Income Potential
Real estate agents are generally paid based on a percentage of the sales price. The seller may pay 4 to 7% of the sales price as the fee and that will usually be split 50/50 between the seller and buyer's broker.

In Lincoln, NE, the 2004 median home price is approximately $134,000. Assume that the fee is 6%, the buyer's and seller's broker is each paid 3% or $4020.

This fee is then split further between the broker and agent. Generally, for starting agents, the split is 50/50. So in this case, the agent will end up receiving $2010 for the transaction.

There is no limit as to how much an agent can make in a year - the sky's the limit.

Based on Lincoln's median home price and the above example, a real estate agent in Nebraska can make about $20,100/year by selling 10 houses a year. By selling one house per week, the real estate agent in Nebraska will have a salary of $104,520.


5) Real Estate Schools

The first step to becoming a real estate agent in Nebraska is to take the required classes at an approved real estate school. School status may change so it is best to call the Nebraska Real Estate Commission at 402.471.2004 prior to signing up for a class.

Below are some real estate schools in Nebraska that are currently approved by the Nebraska Real Estate Commission.

Real Estate Schools in Omaha, NE:

Creighton University, College of Business Admin.
2500 California
Omaha, NE 68178
Phone (402) 280-5513

Great Plains School of Real Estate
12008 Pacific St.
Omaha, NE 68154
Phone (402) 938-5100

McMahon School of Real Estate
1205 N. 95th St.
Omaha, NE 68114
Phone (402) 391-1494

Real Estate Schools in Lincoln, NE:

Larabee School of Real Estate & Insurance
3355 Orwell St, Ste 102
Lincoln, NE 68516
Phone (402) 436-3308
Phone (800) 755-1108

REALTORS Association of Lincoln
8231 Beechwood Dr.
Lincoln, NE 68510
Phone (402) 441-3620

University of Nebraska - CBA
12th & R St.
Lincoln, NE 68588
Phone (402) 472-2330