February 18, 2026

Nebraska Wholesaling Laws: LB 892 Compliance Guide

Nebraska is one of the most restrictive states for unlicensed wholesalers. Legislative Bill 892, passed in 2022, amended the Nebraska Real Estate License Act to explicitly classify publicly marketing an equitable interest in a purchase contract as brokerage activity requiring a license. The Nebraska Supreme Court reinforced this position in Choice Homes v. Donner (2022). If you wholesale in Nebraska, here is what the law requires and what your options are.

This guide covers the statutory text, the Nebraska Real Estate Commission's policy interpretation, the vacant lot exemption, penalties, and practical compliance paths. If you are looking for the broader national picture, see our state-by-state wholesaling legal guide.

What LB 892 Actually Says

LB 892 amended Nebraska Revised Statute §81-885.02 to add a specific provision targeting wholesale real estate activity. The key language added to the definition of activities requiring a real estate license:

"Publicly marketing for sale an equitable interest in a contract for the purchase of real property, other than a vacant lot, between a property owner and a prospective purchaser."

— Nebraska Revised Statute §81-885.02(2)

The statute treats this marketing activity as brokerage. Brokerage requires a license. This means that if you hold a purchase contract and publicly advertise the property to find an end buyer, you are engaging in licensed activity under Nebraska law — unless you qualify for a specific exemption.

LB 892 also clarified that an equitable interest in real property is not considered an ownership interest that would exempt someone from the licensing requirements. This closed a potential argument that holding equitable interest through a contract made you an "owner" who could market the property freely.

The full statute is available at nebraskalegislature.gov.

The License Requirement

The core rule: you need a Nebraska real estate license to publicly market an equitable interest in a contract for the purchase of real property (other than a vacant lot). This is not a disclosure requirement — it is a licensing requirement. The distinction is critical.

What counts as "publicly marketing" under Nebraska law:

Email blasts. Sending deal details to your investor database, even if it is a private list you built yourself.
Social media posts. Facebook, Instagram, BiggerPockets, any investor group or marketplace.
Investor platform listings. InvestorLift, Deal Run, Craigslist, any marketplace where you offer assignment deals.
Marketing materials. Flyers, deal packages, PDFs, one-pagers, any document designed to market the property.
Website listings. Posting deals on your own website or any third-party site.
Any public solicitation. Text messages, direct mail to buyers, bandit signs, or any outreach to find an end buyer.

The scope is broad. The Nebraska Supreme Court in Choice Homes v. Donner (2022) ruled that soliciting buyers for property you hold an option on — even if reselling at a profit — constitutes brokerage activity requiring licensure. This judicial ruling reinforces the statutory text and removes ambiguity about the law's reach.

The Vacant Lot Exemption

Nebraska's statute includes one notable exemption: vacant lots. The marketing restriction applies to equitable interests in contracts for real property "other than a vacant lot." If the property under contract is a vacant lot, you may be able to market the assignment without a real estate license.

This exemption is narrow. It applies only to vacant lots — land with no structures. Vacant residential lots, vacant commercial lots, and undeveloped land parcels may qualify. However, if the lot has any improvements (a house, a building, even a mobile home), it is likely not a "vacant lot" under the statute. Verify with a Nebraska attorney before relying on this exemption for any specific transaction.

NREC Policy Interpretation for Licensed Wholesalers

The Nebraska Real Estate Commission issued a policy interpretation that provides detailed guidance for licensed real estate professionals who participate in wholesale transactions. If you hold a Nebraska license and wholesale, these rules apply to you:

Agency relationships: The wholesaler is considered the seller for agency purposes. The licensee assisting the wholesaler in marketing is the seller's agent. The property owner is in a customer-only relationship with the licensee — not a client relationship.
Agency disclosure to the wholesaler: Should identify services as "Limited Seller's Agent."
Agency disclosure to the owner and buyers: Should be marked as "Customer Only."
Substantial contact: Marketing an equitable interest in an owner's property is considered a substantial contact with the owner, which triggers agency disclosure requirements even though the owner is not your client.

The full NREC policy interpretation is available at nrec.nebraska.gov.

Assignment vs Double Close in Nebraska

The transaction structure you choose determines whether the licensing requirement applies. This makes the assignment-versus-double-close question particularly important in Nebraska.

Assignment with public marketing: Requires a Nebraska real estate license. This is the activity LB 892 specifically targets. If you have a property under contract and publicly market it to find an end buyer, you are engaging in brokerage activity. Without a license, this is a violation.

Assignment without public marketing: Technically possible. If you find a buyer through direct personal relationships — no email blasts, no social media, no platforms, no marketing materials — you may be able to assign your contract without triggering the licensing requirement. This is a narrow path with limited scalability and enforcement risk.

Double close: You buy the property, take title, then resell. When you market the property for the second sale, you are the owner. Marketing your own property does not require a real estate license. Nebraska statute NRS 76-2,122 includes provisions for real estate closings that occur within one business day of another closing where one party is principal to both transactions, which describes a compliant same-day double close. For unlicensed wholesalers in Nebraska, the double close is often the only practical path for publicly marketing deals.

Important timing distinction: One advantage of a double close is that your profit margin stays private — the two transactions are separate and the spread is not visible on a single settlement statement. However, this compliance advantage only applies if you market the property after taking title. In a simultaneous close — where you market while still under contract to purchase — you hold equitable interest only, the same legal position as an assignment. Your marketing obligations at the time of advertising may be identical regardless of your intended closing structure. Oklahoma's SB 1075 (effective November 2025) explicitly includes simultaneous double closings in its wholesaling definition, and other states are following suit. Structure your compliance around what you hold at the time you market, not what you plan to hold at closing.

Penalties for Non-Compliance

Nebraska has a structured enforcement framework for unlicensed real estate activity. The Nebraska Real Estate Commission has escalating tools available.

Cease-and-desist orders. Under §81-885.03, the NREC director can issue a cease-and-desist order against anyone performing brokerage activity without a license. The order becomes final after ten days unless a hearing is requested. This immediately halts your ability to market deals in Nebraska.
Fines up to $1,000 per day. If someone violates a cease-and-desist order, the commission may impose fines of up to $1,000 per day of continued unlicensed activity following the order, or the total amount of all commissions earned through the unlicensed activity — whichever is greater. These fines are enforceable through district court judgments in any Nebraska county.
Disciplinary action for licensees. Under §81-885.24, NREC can investigate and sanction licensed individuals who violate the License Act, including censure, license suspension or revocation, consent orders, and civil fines up to $5,000 per complaint or total commission earned. Using unlicensed persons to perform brokerage activity is itself an unfair trade practice under §81-885.24(18).
Even a single act triggers liability. Under §81-885.03, performing "any single act" of unlicensed brokerage violates Nebraska law. You do not need a pattern of behavior to be in violation. One publicly marketed wholesale deal is sufficient.
Contract enforceability challenges. Contracts facilitated through unlicensed activity may be challenged in court. Buyers and sellers may seek to void contracts or recover damages if the transaction was marketed illegally.

Practical Options for Wholesalers in Nebraska

If you wholesale in Nebraska or plan to, you have four realistic compliance paths. Each has tradeoffs in cost, scalability, and flexibility.

Get your Nebraska real estate license. The most sustainable option if Nebraska is a regular market for you. Nebraska requires pre-licensing education, passing the state exam, and affiliating with a licensed broker. The license eliminates ambiguity — you can market deals through any channel. Follow NREC's policy interpretation on agency relationships.
Partner with a licensed agent or broker. Work with a Nebraska-licensed professional who handles the marketing side. You handle acquisition; the licensed partner handles disposition. This adds a cost (commission or fee split) but keeps you compliant and gives you access to full marketing channels.
Double close every deal. Take title first, then sell as the property owner. No license required to market your own property. The added costs include transactional lending fees, two sets of closing costs, transfer taxes, and carrying risk. For deals with healthy margins, this is manageable. For thin deals, the extra expenses can eliminate your profit.
Limit to vacant lots and private deal sharing. The vacant lot exemption may allow unlicensed marketing for land deals. For improved properties, restrict yourself to private conversations with known buyers — no public marketing of any kind. This is the most limited approach and not viable as a primary business strategy.

Frequently Asked Questions

Can I wholesale in Nebraska without a license?

You can assign a contract, but you cannot publicly market a property you do not own without a Nebraska real estate license. LB 892 and the Nebraska Supreme Court's Choice Homes ruling are explicit. Your practical options without a license are double closing (where you take title before marketing), limiting yourself to vacant lots (which are exempt), or finding buyers through strictly private, non-public channels. For most wholesalers operating at any volume, getting licensed or partnering with a licensed agent is the more viable path.

What about the vacant lot exemption?

The statute specifically excludes "vacant lots" from the marketing restriction. If the property under contract is a vacant lot with no structures, you may be able to market the assignment without a license. This exemption is narrow — it covers only vacant land, not properties with improvements. If there is any question about whether a property qualifies as a vacant lot, consult a Nebraska real estate attorney before marketing.

Does NREC enforce this actively?

Yes. The Nebraska Real Estate Commission issued a specific policy interpretation addressing wholesaling, which signals active attention to the issue. NREC accepts complaints from consumers, title companies, and licensees. The Choice Homes v. Donner case reached the Nebraska Supreme Court, demonstrating that enforcement extends to the highest levels of the state's judicial system. This is not a rule that exists only on paper.

Is double closing a good workaround?

Double closing is the most common approach for unlicensed wholesalers in Nebraska, and it is fully compliant. When you own the property, you are selling real estate you hold title to — standard sale rules apply. Nebraska statute NRS 76-2,122 includes provisions for same-day closings where one party is principal to both transactions. The tradeoff is cost: transactional lending fees, two sets of closing costs, and carrying risk. For deals with $10,000 or more in margin, the extra costs are usually manageable.

What if I have a real estate license in another state?

A license from another state does not authorize brokerage activity in Nebraska. You need a Nebraska-specific license. Nebraska may have reciprocity agreements that reduce education requirements if you hold an active license elsewhere, but you still must apply for and receive a Nebraska license. Check with NREC for current reciprocity details.

Does LB 892 apply to commercial properties?

Yes, with the exception of vacant lots. The statute covers equitable interests in contracts for the purchase of "real property, other than a vacant lot." This includes residential, commercial, multi-family, agricultural with structures, and any other improved real property. The vacant lot exemption is the only property-type carve-out.

Disclaimer

This guide is for informational purposes only and does not constitute legal advice. Laws and regulations change, and the application of any statute depends on the specific facts of your situation. Consult a licensed Nebraska real estate attorney before relying on this information for any particular transaction. Deal Run provides tools and information to help wholesalers operate more effectively — we are not a law firm and do not provide legal services.