Does a seller of a residential or commercial property have to have a business brokerage license [See Below] when selling real property with a lease affecting it? No.

Business brokerage is for listing/selling/exchanging –

“the tangible assets and goodwill of an existing enterprise, if the sale or purchase of the tangible assets and goodwill of the enterprise requires the seller and purchaser to file with the Internal Revenue Service a Form 8594, Asset Acquisition Statement, or its equivalent or successor form.”

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WHAT IS A BUSINESS BROKER? NRS 645.0075 defines a business broker as a person who, while acting as a real estate broker, broker-salesman or salesman for another and for compensation or with the intention or expectation of receiving compensation:

(a) Sells, exchanges, options or purchases a business;
(b) Negotiates or offers, attempts or agrees to negotiate the sale, exchange, option or purchase of a business; or
(c) Lists or solicits prospective purchasers of a business.

The Real Estate Commission adopted regulations clarifying “engage in business as a business broker” to mean engaging in the business of:

  • Selling, exchanging, optioning or purchasing;
  • Negotiating or offering, attempting or agreeing to negotiate the sale, exchange, option or purchase of;
  • or

  • Listing or soliciting prospective purchasers of;
    the tangible assets and goodwill of an existing enterprise, if the sale or purchase of the tangible assets and goodwill of the enterprise requires the seller and purchaser to file with the Internal Revenue Service a Form 8594, Asset Acquisition Statement, or its equivalent or successor form.
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