California Brokers Need a Cooperating Nevada Broker

Once in a while I run into an out-of-state broker, most often one from California, who wants to get paid in a real estate transaction and they find that they can't get paid from a Nevada real estate broker as a California broker.

If you want to get paid from a real estate transaction in Nevada and you are a license broker in California you need to work with a cooperating broker in Nevada and fill out and submit a Nevada Out-of-State Cooperative Certificate (Form 542) and submit it to the Nevada Real Estate Division.  When filed with the Division together with a $ 150 fee, license attached, license history, two (2) fingerprint cards and a 2" X 2" photograph a single trasaction approval may be issued.

Most brokerage firms will of course also require some kind of cooperative agreement that spells out who gets paid what in the transaction.

It's not unusual for states to require unlicensed out-of-state brokers to work through a Nevada state licensed broker on a single transaxtion and require documentation in an attempt to identify who the out-of-state broker is.

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