Current Nebraska Real Estate Income, Sales, and Trends

Real estate is a field that attracts many questions, especially when it’s about the money you can make as a real estate agent. Some of the questions are:

• Is real estate a good career?
• Can you do real estate part-time and make money from it?
• Should I become a real estate agent?

One thing to remember is that real estate is a profitable career, and you can make a good amount of money whether you are working full-time or part-time. Leading job recruiters and outlets report that real estate agents in Nebraska can make an average salary of $100,490 per year.

While this sounds like a good salary to work for, it’s quite below the national average salary for real estate agents, which is about $106,227 per year. On the other hand, some top real estate companies in the US pay their agents as high as $148,000 per year.¹

The good news is that most real estate agents receive commissions for every project they successfully sell. Therefore, the average salary may vary depending on how many sales they make in a year.

Refreshing Your Real Estate License and Cross-State Acknowledgment in Nebraska

Once you hold a real estate license in Nebraska, the state expects you to renew your license every two years. For a real estate agent, the license renewal fee is $140.

If you hold a real estate license in another state, you can easily practice your real estate activities in Nebraska without any hindrance. Nebraska doesn’t rely so much on Reciprocal Agreements to recognize licenses from different jurisdictions.²

Instead, Nebraska has a License-by-Recognition policy that allows people from other jurisdictions to be recognized in the state.

To get a license through License by Recognition, you must do the following:

1. Make an application to NREC and pay the required fee.
2. Complete a fingerprint-based background check.
3. Arrange to have a Certification of License History sent to the Nebraska Commission office from the resident state verifying possession of a real estate license.
4. Complete a 3-hour course on Nebraska’s Agency Statutes and License Laws to familiarize yourself with all the laws governing the real estate space in Nebraska before you start working.²
5. Get Errors and Omissions Insurance that covers you for acts under your Nebraska Real Estate License.
6. If you choose to remain a non-resident of Nebraska, ensure that you run your activities in the state using the same name you use in your resident state. For example, if your real estate firm is an ABC corporation, you must operate in Nebraska with the same firm name.

While Nebraska does not require business entities to have a real estate license, they must be registered with the Secretary of State’s Office to conduct business in the state.

The process of acquiring a real estate license in Nebraska requires that you meet all the qualifications to be a real estate agent, enroll in a real estate program, and meet all the real estate agent education requirements. After getting licensed, you can practice as a part-time real estate agent or pursue the full value of a real estate agent by working full-time.

If you have a misdemeanor on your criminal record, you may still qualify for a real estate license in Nebraska once you’ve fulfilled the ordered sentence, while the Nebraska Realty Commission may restrict licensure for certain felony offenses based on the crime’s severity.