Several changes have recently be made to the Las Vegas real estate agent code: NRS 645. One of these changes was an actual definition of "agency": a relationship between a principal and an agent arising out of a brokerage agreement whereby the agent is engaged to do certain acts on behalf of the principal in dealings with a third party. Other changes have also been made for clarification, etc.
Another change, of several, was that a client can waive the duty to present all offers with informed, written consent. That will cut out the presentation of low ball or rediculous offers if so waived.
Las Vegas Realtors should become aware of such changes and understand their impacts as they represent their clients.
