Hanging my Real Estate License in Nevada

By
Education & Training with JC Melvin - KW Southwest 11681

     I worked hard for my real estate license and I don't want to just let it go....

     As a real estate Broker in Nevada and licensed for 35 years, I've heard this more times than you can imagine. I agree, life changes sometimes put our real estate career "on Hold" for one reason or another. I hate to see a person that's worked hard to obtain their license just let it go.

     I always recommend that they hang their license  with one of several licensing hanging companies available in the market.

     The truth is that they put in a fair amount of time including the 90 hours required for the pre-licensing course, then the exam, then the money for the startup license. It's ashamed to just let all that hard work and money go down the drain.

 Real Estate

     From time to time the real estate business hits a slump or you may have to move out of the area for work or to take care of a loved one. What we know about Las Vegas is this: It's a very hard city to move away from and then stay away.

     This is why I always suggest to those with a real estate license who are, for one reason or another, looking to eliminate the fees associated with being a member of the local MLS service or being a member of the Association of Realtors, to "hang" their license with one of the Referral companies. In Nevada, I will usually direct them to Referral Real Estate for the minimal cost of $99.00 per year.  

     Now they still have an active license as far as the state is concerned and Referral Real Estate allows them to sell new homes and be paid referral fees for other buyers and listings.  In fact, they can refer throughout North America and earn referral fees at the highest split possible.

     Even for those moving out of state, I suggest that they leave their license active for a couple of years and, if they know after say two years, that they're NEVER coming back, then okay "you may want to let your license go inactive".

     Again, I have seen people move out of state and believe they were never coming back only to find themselves back in Las Vegas or Reno without a real estate license...

     Bottom line in my book, "Keep it active for a couple of years before you just let it go". 

Comments (6)

Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

      It is so easy to keep a license active, compared to getting a license. 

       A friend recently told me that she had, "let her license go".  For a lousy 14 hour online course, and $70 fee?  What a shame.

Apr 20, 2016 02:23 AM
Lynaae Zoe Forbes
Forbes Realty Group - Las Vegas, NV
Finding a winning solution for your RE needs.

My office sees this need and just opened "Hanging with the Forbes", just for this purpose!  Here to help - please feel free to contact me.

Nov 02, 2016 11:38 AM
Anonymous
Irene Kent

I'm Lic RE Broker, I work for myself , by myself, just need to hang my Lic somewhere, I do belong to mls

Mar 29, 2018 08:43 PM
#3
Anonymous
mark

in Nevada,
I'm will become a Lic RE Broker, I work for myself , by myself, just need to hang my Lic somewhere, I do not belong to mls.
Looking for a virtual office location where i can have a listing for my name somewhere and hang my license and locate my records in DRE inspection.

Apr 02, 2018 09:49 PM
#4
Anonymous
Mark

yes, thankyou for you input. As a broker in Ca, I am familiar with DRE and now have to think for Nevada in terms of RED.

For starters, I need to establish a location with signage and a place for files-though I am not sure what RED thinks about all files now being housed in the cloud. Hanging was the wrong word to use. Establish a brokerage would be a better choice.

I don't know what excutive suite company handles the requirements of RED for broker-signage and record keeping.
Thank you, M

Apr 03, 2018 08:02 AM
#6