2501 E. Sahara Avenue, Suite 102 * Las Vegas, Nevada 89104-4137 * Telephone (702) 486-4033 * Fax (702) 486-4275
BUSINESS BROKERS
What is a Business Broker?
According to the legislative history of Senate Bill 315 from the 73rd Session of the
Nevada Legislature, the proposed business broker permit was intended for real estate
licensees in conjunction with the sale, lease, exchange, purchase, or option of real
estate. Senate Bill 315 did not create a new licensing requirement for individuals who
broker businesses which do not have a real estate component to the transaction.
“Business broker” means a person who, while acting for another and for compensation
or with the intention or expectation of receiving compensation: 1. Sells, exchanges,
options, purchases, rents or leases a business that is sold, exchanged, optioned,
purchased, rented or leased as part of an interest or estate in real property; 2. Negotiates
or offers, attempts or agrees to negotiate the sale, exchange, option, purchase, rental or
lease of a business that is or is intended to be sold, exchanged, optioned, purchased,
rented or leased as part of an interest or estate in real property; or 3. Lists or solicits
prospective purchasers of a business if a component of the listing or solicitation is an
interest or estate in real property. NRS 645.0075.
Whereas, a Real Estate Broker means a person who, for another and for compensation
or with the intention or expectation of receiving compensation: (a) Sells, exchanges,
options, purchases, rents or leases, or negotiates or offers, attempts or agrees to
negotiate the sale, exchange, option, purchase, rental or lease of, or lists or solicits
prospective purchasers, lessees or renters of, any real estate or the improvements
thereon or any modular homes, used manufactured homes, used mobile homes or other
housing offered or conveyed with any interest in real estate; (b) Engages in or offers
to engage in the business of claiming, demanding, charging, receiving, collecting or
contracting for the collection of an advance fee in connection with any employment
undertaken to promote the sale or lease of business opportunities or real estate by
advance fee listing advertising or other offerings to sell, lease, exchange or rent
property; (c) Engages in or offers to engage in the business of property management;
or (d) Engages in or offers to engage in the business of business brokerage.
What activities may a licensed real estate agent perform?
A real estate licensee need not obtain a Business Broker Permit to represent a party to a
purchase or sale of a business within the State of Nevada if there is not a real estate
component involved in the sale or purchase. A real estate component includes, but is
not limited to, a building, land or a leasehold interest.
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2501 E. Sahara Avenue, Suite 102 * Las Vegas, Nevada 89104-4137 * Telephone (702) 486-4033 * Fax (702) 486-4275
What activities must be performed by one who holds a Business Broker
Permit?
If a part of the sale of a business requires the assumption of an existing lease or the
purchase of a building, then that transaction requires a Real Estate License and
Business Broker Permit in the State of Nevada. An example of a business sale that
would not require Nevada Real Estate Licensure would be a dental practice including
only dental equipment, patient files and a patient list.
What actions may be taken if unlicensed business broker activities are
conducted which require a license?
It is unlawful for any person, limited-liability company, partnership, association or
corporation to engage in the business of, act in the capacity of, advertise or assume to
act as, a (a) Real estate broker, real estate broker-salesman or real estate salesman
within the State of Nevada without first obtaining the appropriate license from the Real
Estate Division as provided for in this chapter; and (d) Business broker within the State
of Nevada without first obtaining from the Real Estate Division as provided for in this
chapter a license as a real estate broker, real estate broker-salesman or real estate
salesman and a permit to engage in business as a business broker. NRS 645.230.
The Real Estate Commission may impose an administrative fine against any person
who knowingly: (a) Engages or offers to engage in any activity for which a license,
permit, certificate or registration or any type of authorization or any regulation if the
person does not hold the required license, permit, certificate or registration or has not
been given the required authorization; or (b) Assists or offers to assist another person
to commit the above described violation. The Commission may impose an
administrative fine in the amount of any gain or economic benefit that the person
derived from the violation or $5,000, whichever amount is greater. NRS 645.235.
To view the applicable statutes and regulations in their entirety, visit our website at
www.red.state.nv.us.
12/05/08 (Revised 03/03/15)
