Key Takeaways
- Nebraska agency relationships are governed by the Nebraska Real Estate License Act and Article 24 (Agency Relationships)
- Every designated broker must adopt a written policy identifying which agency relationships their firm will offer
- Nebraska allows single agency, limited agency, dual agency, and designated agency relationships
- Effective July 1, 2025, all agents working with buyers must have a Written Buyer Representation Contract
- Agency disclosure must be provided at first substantial contact with any buyer or seller
Nebraska Agency Relationships
Nebraska agency relationships are governed by the Nebraska Real Estate License Act and Article 24 of the statutes, which specifically addresses agency relationships.
Written Policy Requirement
Section 76-2420 requires every designated broker to adopt a written policy that:
- Identifies and describes the agency relationships the firm will offer
- Must offer at least one type of agency relationship
- May offer all or any combination of allowed relationships
Key Point: This written policy must be provided to consumers along with the agency disclosure form.
Types of Agency Relationships in Nebraska
Single Agency
A single agent represents only one party in a transaction:
| Single Agent Role | Represents |
|---|---|
| Seller's agent | Seller only |
| Buyer's agent | Buyer only |
| Landlord's agent | Landlord only |
| Tenant's agent | Tenant only |
Single agent duties include:
- Loyalty to the client
- Confidentiality of client information
- Full disclosure of material facts to client
- Obedience to lawful instructions
- Accounting for all funds
- Reasonable care and diligence
Limited Agency
Nebraska uses limited agency relationships for buyers and tenants:
| Type | Description |
|---|---|
| Buyer limited agency | Working with buyer without written agreement |
| Tenant limited agency | Working with tenant without written agreement |
| Seller limited agency | Requires written agreement or subagency acceptance |
| Landlord limited agency | Requires written agreement or subagency acceptance |
Important: A licensee working with a buyer or tenant is considered a limited agent unless there is a written agreement as an agent or appointment by the designated broker.
Dual Agency
Dual agency occurs when:
- One agent represents both the buyer and seller in the same transaction, OR
- The same brokerage represents both parties
Requirements for Dual Agency
| Requirement | Description |
|---|---|
| Written consent | Both parties must consent in writing |
| Disclosure | Full disclosure of the dual relationship |
| Timing | Consent must be obtained before engaging in activities |
| Confirmation | Must confirm dual agency status and compensation responsibility |
Warning: Dual agency significantly limits what an agent can do for either party. Nebraska allows dual agency but does NOT have designated representatives within dual agency.
Designated Agency
Section 76-2427 authorizes a designated broker to appoint in writing one or more affiliated licensees to act as a limited agent of a client to the exclusion of all other affiliated licensees.
| Feature | Description |
|---|---|
| Appointment | Must be in writing |
| Scope | Appointed agent acts to exclusion of other affiliated licensees |
| Policy | Designated broker may make appointments in written policy |
Written Buyer Representation Contract (Effective July 1, 2025)
Per Legislative Bill 187, effective July 1, 2025:
| Requirement | Description |
|---|---|
| Mandatory | All agents working with buyers must have written contract |
| Timing | Must be in place before showing properties |
| Contents | Terms of representation, compensation, duties |
Exam Tip: This is a significant 2025 change. All buyer agents must have a written buyer representation contract.
Under Nebraska law, what document is required from all agents working with buyers effective July 1, 2025?
What type of agency exists by default when a Nebraska licensee works with a buyer without a written agreement?