81-885.02.
Broker, associate broker, real estate salesperson; license required; exemption; activities included.
After September 2, 1973, it shall be unlawful for any person, directly or indirectly, to engage in or conduct, or to advertise or hold himself or herself out as engaging in or conducting the business, or acting in the capacity, of a real estate broker, associate broker, or real estate salesperson within this state without first obtaining a license as such broker, associate broker, or salesperson, as provided in the Nebraska Real Estate License Act, unless he or she is exempted from obtaining a license under section 81-885.04.
For purposes of this section, acting as a real estate broker, associate broker, or real estate salesperson includes publicly marketing for sale an equitable interest in a contract for the purchase of real property between a property owner and a prospective purchaser.
Source:Laws 1973, LB 68, § 2; Laws 1983, LB 182, § 2; Laws 2009, LB30, § 2; Laws 2022, LB892, § 1.
Annotations
A person cannot solicit the sale of another's property in exchange for an option to purchase the property from the owners to resell to the buyers for a higher price without being licensed as a broker or salesperson under the Nebraska Real Estate License Act or meeting one of the exceptions listed in section 81-885.04. Choice Homes v. Donner, 311 Neb. 835, 976 N.W.2d 187 (2022).
A promissory note given by a vendor to a real estate broker in payment for a commission is enforceable even if, at the time of the sale, the broker was not properly licensed. Peterson and Vogt v. Livingston, 206 Neb. 753, 295 N.W.2d 106 (1980).