Real Estate Commission, State, Historical Expenditures

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The Nebraska Real Estate License Act was first passed in 1935, and became effective January 1, 1936. The Act was initially administered and enforced by the Nebraska Secretary of State. In 1943 the Nebraska Real Estate Commission was created by an act of the Legislature (Laws 1943, c. 171 §1-26), the Commission then consisted of four appointed members, one from each Congressional District, and the Secretary of State, who then, as now, served as Chair of the Commission. Each of the appointed members was required to be an active and licensed real estate broker. In 1973 the Act was amended significantly and membership was expanded to the current seven Commissioners. In 1985 continuing education was made mandatory for all licensees, in 1991 errors and omissions insurance was made mandatory, and in 1994 legislation clearly delineating the roles and responsibilities of limited seller's and buyer's agents was passed by the legislature.

Mission Statement: To protect the public interest of Nebraska citizens through the efficient and effective administration of the Nebraska Real Estate License Act and the registration of Time-Share Projects, Subdivided Land Projects, Retirement Subdivisions and Communities, and Membership Campgrounds.

http://www.nrec.ne.gov/