Agency
In Nevada, can a licensee representing a buyer also accept compensation from the seller without violating agency duties?
ANever — accepting any payment from the seller automatically makes the agent a dual agent
BYes, if the licensee fully discloses the compensation arrangement to the buyer in writing and the buyer consents✓ Correct
COnly if the compensation is under $1,000
DYes, cooperative commission from the seller's broker is standard and requires no disclosure
Explanation
A buyer's agent commonly receives cooperative commission paid through the seller's broker — this is disclosed in the buyer's agency agreement and does not automatically create dual agency. However, if a buyer's agent receives additional, non-standard compensation directly from the seller (referral fee, bonus), NRS 645 requires full written disclosure to the buyer, who must consent. Nevada follows the principle that undisclosed conflicts of interest violate the duty of loyalty. Post-NAR settlement, buyer compensation arrangements require clear upfront disclosure in the buyer's representation agreement.
Related Nevada Agency Questions
- What is 'fiduciary duty' and why is it central to Nevada real estate agency law?
- What is the duty of 'obedience' that a Nevada agent owes to their principal?
- In Nevada, the required agency disclosure must be provided to a prospective buyer or seller:
- A Nevada licensee who represents both the buyer and seller in the same transaction without proper disclosure is guilty of:
- In Nevada, which document is used to establish a written agency relationship between a buyer and a licensee?
- What is 'puffing' and is it considered misrepresentation in Nevada real estate?
- A buyer's broker agreement in Nevada:
- Which of the following is NOT a fiduciary duty owed by a real estate agent to their client in Nevada?
Practice More Nevada Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nevada Quiz →