Las Vegas Real Estate Transaction Guide: : From First Client to Payday — Everything New Agents Need to Know
So, you’re about to become—or have just become—a real estate agent in Las Vegas. Congratulations!
But let’s be real: it’s overwhelming.
Maybe you’re still waiting for your Nevada license number. Or you’re brand new and sitting in your office wondering:
How do I get inside a house for a showing?
What’s a title company even do?
How does money move from buyer to seller—and how do I get paid?
If you’ve been afraid to ask “basic” questions… this post is for you.
At Magenta Real Estate, we’re passionate about helping new agents launch with confidence. This is your ultimate, step-by-step guide to how a Las Vegas real estate transaction works, from finding your first client to cashing your commission check.
We’ll also answer those “embarrassing” questions you might hesitate to ask. And we’ll reference Nevada law (NRS and NAC) so you know your guidance is compliant.
Let’s get started!
The Step-by-Step Las Vegas Real Estate Process
1. Getting Your First Client
How Do You Find Clients?
Your first client might come from:
Friends and family
Social media
Open houses
Floor time at your brokerage
Leads provided by your broker or team
Community networking events
A good broker or team leader will focus on teaching you about lead pillars so you can get new clients, know what to say to them, and feel empowered to represent them professionally.
Pro Tip: Learn How New Real Estate Agents Can Build a Powerful Database with our guide.
Important: Nevada law prohibits licensed agents from offering compensation or gifts to unlicensed individuals for referrals unless they’re clients in a transaction (NRS 645.280).
2. Setting Up Searches & Access
How Do You Search Listings?
Las Vegas uses the Las Vegas REALTORS® MLS.
You’ll need:
A valid Nevada license number
MLS access credentials issued via your brokerage
NAC 645.600 requires you to act competently and diligently for clients. That means knowing how to operate MLS tools. Take a few of the MLS trainings available in your spare time and get educated.
How Do You Access Properties?
Las Vegas agents predominantly use SentriLock electronic lockboxes. SentriLock is the official lockbox solution for the National Association of REALTORS® and is widely adopted throughout the Las Vegas market.
Here’s how it works:
Download the SentriKey Real Estate app (available for iOS and Android)
Your brokerage or Las Vegas REALTORS® (LVR) will help activate your account
SentriKey allows you to:
Open lockboxes directly via Bluetooth
Generate temporary access codes for one-time property access (e.g., inspectors, appraisers)
Manage showing schedules
Track lockbox activity logs
Monthly fees or access fees are included in your dues
Important: Always confirm showing instructions in the MLS or with the listing agent before attempting entry!
3. Showing Properties
Key Etiquette
Confirm appointments
Never enter a home unannounced
Keep clients together in the property
Leave the home as you found it
Ensure all doors and windows are locked unless informed otherwise
Return the key to the lockbox
Safety tip: Trust your instincts and protect yourself and your clients. NAC 645.650 requires agents to exercise reasonable skill and care—this includes personal safety.
4. Writing and Submitting an Offer
What’s the RPA?
In Nevada, offers are typically written using the Residential Purchase Agreement (RPA), often the form provided by the Las Vegas REALTORS® (LVR).
Key parts of the RPA:
Purchase price
Earnest money deposit
Financing terms
Contingencies (e.g. inspections, appraisal, loan)
Closing costs
Closing date
NAC 645.630 prohibits misrepresentation or misleading statements in offers or contracts.
How Do You Submit the Offer?
Complete the RPA in your brokerage’s transaction system (TransactionDesk, SkySlope, etc.)
Send the signed offer to the listing agent via email or however prompted in the MLS listing
Keep copies for your records, including rejected offers (NRS 645.630(2) requires retaining transaction records for 5 years)
5. Negotiations
Verbal vs. Written
Verbal negotiations are common—but nothing is binding until in writing and signed by all parties (NRS 111.205).
Always document agreements—big and small—in writing to avoid disputes.
6. Opening Escrow
What’s Escrow?
In Nevada, escrow and title are usually handled by the same company, but they perform different functions:
Escrow handles the money and paperwork. They’re a neutral third party who:
Holds the buyer’s earnest money deposit
Collects signed documents
Coordinates between all parties to ensure contract terms are met
Prepares the final settlement statement and disburses funds
Title performs a different function within the same company:
Researches the property’s ownership history
Searches for liens or clouds on title
Issues title insurance to protect the buyer and lender
In short:
Escrow = Handles the deal’s money and paperwork.
Title = Protects ownership rights.
Both services are often under one roof at the same company, but they’re distinct departments. This is very common in Nevada and simplifies the closing process.
How Do You Open Escrow?
As a buyer’s agent in Las Vegas, you typically open escrow after your buyer’s offer is accepted. Here’s how:
Contact the title & escrow company named in the purchase contract.
Many listing agents specify a preferred title company in the MLS.
If not, you or your client can choose one.
We prefer Chicago Title with either Kathe Stevens, Kelly Marsh, or Courtney Duke as escrow officers
Email the contract to the escrow officer. Include:
Fully executed Residential Purchase Agreement
Contact info for all parties
Commission instructions for your brokerage (can be done later on in escrow)
Deliver the earnest money deposit.
Your buyer can wire funds (preferred) or drop off a check.
Never handle funds nor provide banking information—let the escrow company work with your buyer directly.
Must be deposited within the time agreed upon in the RPA.
Escrow will issue a receipt for the earnest money deposit.
Escrow assigns an escrow number.
This becomes your transaction’s reference number.
Share this number with lenders, and anyone else involved.
7. The Role of the Title Company
What Does Title Do?
Within the same company handling escrow, the title department:
Researches the property’s ownership history (a title search)
Checks for:
Liens
Unpaid taxes
HOA violations
Other issues that could prevent a clear transfer of ownership
Clears any title defects
Issues title insurance:
Protects the buyer and lender against unknown title issues
Mandatory for most financed transactions
Title insurance is regulated under NRS 692A.
8. Home Inspections & Appraisals
Inspections
Nevada does not require inspections—but buyers are strongly advised to have them.
Common Las Vegas inspections:
General home inspection
Roof inspection
HVAC inspection
Septic pump & inspection
Pool/spa inspection
Many agents start with a general home inspection, and then seek further inspections if deemed necessary. Repairs are negotiated via the Request for Repairs addendum.
Appraisals
If the buyer is financing, the lender orders the appraisal. The appraisal must support the purchase price. If it comes in low, the deal may need to be renegotiated.
9. Transaction Timeline & Checklists
Typical Las Vegas timeline (for financed deals) are below, but remember everything is negotiable:
Earnest Money Deposit: 1-2 business days
Inspection Period: ~10 days
Appraisal Contingency: ~21 days
Loan Approval Deadline: ~28 days
Signing Docs: 1–3 days before closing
Closing: ~30 days after acceptance
Keep everything on a calendar and alert your clients of these deadlines in writing!
10. Clear to Close & Final Walk-Through
Clear to Close
This means:
Loan is fully approved
Title is clear
Escrow prepares closing paperwork
Final Walk-Through
Usually 1–3 days before closing. You confirm:
The property is in agreed condition
Repairs are complete
No new damage
11. Closing Day
How Does Closing Happen?
In Nevada:
Signings often happen at the title company (or a mobile notary is sent to the signers)
Both buyer and seller sign closing documents
Escrow receives funds from the buyer and lender (if applicable) and disburses to the various parties
Once docs record with the county, the transaction is officially closed (NRS 247 governs recording)
12. Getting Paid
Your commission check:
Is paid by your broker from escrow proceeds
Usually disbursed 1–3 business days after recording
Must comply with NRS 645.251 (commissions paid only through your broker)
Remember: Nevada requires all commission splits and agreements to be in writing.
20 FAQs New Las Vegas Real Estate Agents Are Afraid to Ask (But Should)
1. How do I get access to SentriLock lockboxes?
Once you become a member, contact the LVR to set up your SentriLock account. You’ll download the SentriKey Real Estate app to access lockboxes.
2. Do I have to be present at inspections?
Not legally required, but smart for client service. You’ll learn what issues arise and help guide your client through repair requests.
3. What’s the difference between escrow and title?
Title = researching ownership and insuring title.
Escrow = managing documents and funds between buyer and seller.
4. How do I handle a client wanting to write a super-low offer?
Counsel them on market data, days on market, and potential consequences (offending seller, rejected offers). Your job: advise, not decide.
5. When do I get my commission check?
Usually 1–3 business days after recording. Must be paid through your broker. (NRS 645.251)
6. What’s a CLUE report?
It’s a claims history for insurance. Some buyers order one to see past property damage claims.
7. Do I pay taxes on my commission immediately?
Commissions are income. You’ll file federal taxes quarterly as self-employed. Nevada has no state income tax. Contact a CPA before you get your first check so you can get educated on tax strategies.
8. What if my buyer changes their mind during escrow?
Check contingency periods. If they cancel outside contingencies, they may lose their earnest money.
9. How do I submit an offer in the MLS?
You don’t “submit” via MLS. You typically email the signed offer to the listing agent directly, unless otherwise directed.
10. What’s an earnest money deposit in Las Vegas?
Usually 1–3% of purchase price. Held in escrow. Shows good faith.
11. Who orders the appraisal—the agent, lender, or buyer?
The lender orders it, though the buyer pays the fee. Agents help facilitate access to the property for the appraiser.
12. How do I find out if a property has an HOA?
Check MLS remarks, or ask title for an HOA resale package.
13. When should I recommend a home warranty?
When buyers want peace of mind for older systems. Discuss options, but don’t “sell” products.
14. What if the seller refuses repairs after inspection?
Negotiate. Buyers can:
Accept the home as-is
Request price reduction or closing cost credit
Cancel under inspection contingency
15. How do I learn the correct Las Vegas contracts?
Attend brokerage training. Review LVR forms. NRS 645.630 requires you to be competent in forms you use.
16. How do I handle dual agency in Nevada?
Nevada allows dual agency if disclosed in writing (NRS 645.252) and allowed at your brokerage. Both parties must consent.
17. Do I attend the closing appointment?
Not required—but it’s great service. Buyers often have questions during signing.
18. What happens if escrow falls through?
Escrow refunds earnest money if the cancellation is within contingencies. Outside contingencies, the seller may keep the deposit.
19. Is there a standard commission rate in Las Vegas?
No. Commissions are negotiable under NRS 645.8707. Never say there’s a “standard” rate.
20. How do I avoid getting sued?
Disclose, disclose, disclose
Keep everything in writing
Never practice outside of your scope (law, accounting, home inspection, construction, et al)
Stay within your license authority (NAC 645.690)
When in doubt, ask a professional for help
Final Thoughts
Launching your real estate career in Las Vegas is thrilling—but it’s also a lot to learn. At Magenta Real Estate, we’re committed to supporting new agents with training, mentorship, and the tools you need to thrive.
Ready to take the next step?
👉 Contact us today to learn how Magenta can help you launch a successful real estate career in Las Vegas.