• Understand the Different Types of Agency Relationships: Recognize the distinctions between single agency, acting for more than one party, and assigned agency, and understand the duties and disclosures required for each.
• Identify the Sources of Licensee Duties: Gain knowledge of the statutory duties defined by NRS and NAC, common law guidance, and contractual agreements that extend a licensee’s responsibilities.
• Recognize the Limitations on Licensee Liability: Understand the areas where a licensee’s liability is limited, such as client misstatements and public record items, and how to navigate these protections.
• Learn the Methods of Terminating an Agency Relationship: Identify the various ways an agency relationship can be terminated, including the fulfillment of the agency’s objective, mutual agreement, and abandonment.
• Comprehend the Evolution of Fiduciary Duties: Understand the transition from common law principles to statutory duties and the key statutory changes impacting real estate practice.
• Implement the Principle of Absolute Fidelity: Prioritize the client’s interests above personal gains and ensure full disclosure of any personal interests in a transaction.
• Adhere to the Duty of Honesty: Avoid deceit, fraud, and dishonesty, and maintain truthfulness and transparency in all professional dealings.
• Exercise Reasonable Skill and Care: Stay informed about current laws and regulations and avoid negligence through competent and diligent practice.
• Fulfill the Duty to Investigate Material Facts: Conduct thorough and reasonable investigations to disclose all material facts impacting the property and transaction.
• Respect Professional Boundaries: Recognize the limits of your expertise and refer clients to qualified professionals when necessary, avoiding unauthorized practice of law and appraisal activities.

This course aims to equip you with the knowledge and skills necessary to uphold the legal and ethical standards of real estate practice in Nevada, ensuring successful and compliant transactions