(a) The Arkansas Real Estate Commission shall establish education requirements for licensure, including the standards and procedures for approval of education programs, subject to the following conditions:(1) The education hours required of an applicant for a real estate brokers license shall not exceed one hundred twenty (120) hours within the thirty-six (36) months immediately preceding the date of application and shall include at least forty-five (45) hours in a course developed by the commission;(2) The education hours required of an applicant for a salespersons license shall not exceed ninety (90) hours, at least thirty (30) hours of which shall be in the basic principles of real estate;(3) The education hours required of an applicant for a property management brokers license shall not exceed sixty (60) hours and shall include property management principles and practices, including without limitation:(A) Thirty (30) hours consisting of the following topics:(i) Landlord-tenant law;(ii) Federal and state fair housing laws;(iii) The Americans with Disabilities Act of 1990, 42 U.S.C. § 12101 et seq.;(iv) State licensing law and rules;(v) Trust accounts;(vi) Accounting procedures and recordkeeping;(vii) Contract law; and(viii) Agency and disclosure; and(B) Thirty (30) hours of commission property management supervision best practices; and(4) The education hours required of an applicant for a property management associates license shall not exceed thirty (30) hours and shall include property management principles and practices, including without limitation:(A) Landlord-tenant law;(B) Federal and state fair housing laws;(C) The Americans with Disabilities Act of 1990, 42 U.S.C. § 12101 et seq.;(D) State licensing law and rules;(E) Trust accounts;(F) Accounting procedures and recordkeeping;(G) Contract law; and(H) Agency and disclosure.
(1) The education hours required of an applicant for a real estate brokers license shall not exceed one hundred twenty (120) hours within the thirty-six (36) months immediately preceding the date of application and shall include at least forty-five (45) hours in a course developed by the commission;
(2) The education hours required of an applicant for a salespersons license shall not exceed ninety (90) hours, at least thirty (30) hours of which shall be in the basic principles of real estate;
(3) The education hours required of an applicant for a property management brokers license shall not exceed sixty (60) hours and shall include property management principles and practices, including without limitation:(A) Thirty (30) hours consisting of the following topics:(i) Landlord-tenant law;(ii) Federal and state fair housing laws;(iii) The Americans with Disabilities Act of 1990, 42 U.S.C. § 12101 et seq.;(iv) State licensing law and rules;(v) Trust accounts;(vi) Accounting procedures and recordkeeping;(vii) Contract law; and(viii) Agency and disclosure; and(B) Thirty (30) hours of commission property management supervision best practices; and
(A) Thirty (30) hours consisting of the following topics:(i) Landlord-tenant law;(ii) Federal and state fair housing laws;(iii) The Americans with Disabilities Act of 1990, 42 U.S.C. § 12101 et seq.;(iv) State licensing law and rules;(v) Trust accounts;(vi) Accounting procedures and recordkeeping;(vii) Contract law; and(viii) Agency and disclosure; and
(i) Landlord-tenant law;
(ii) Federal and state fair housing laws;
(iii) The Americans with Disabilities Act of 1990, 42 U.S.C. § 12101 et seq.;
(iv) State licensing law and rules;
(v) Trust accounts;
(vi) Accounting procedures and recordkeeping;
(vii) Contract law; and
(viii) Agency and disclosure; and
(B) Thirty (30) hours of commission property management supervision best practices; and
(4) The education hours required of an applicant for a property management associates license shall not exceed thirty (30) hours and shall include property management principles and practices, including without limitation:(A) Landlord-tenant law;(B) Federal and state fair housing laws;(C) The Americans with Disabilities Act of 1990, 42 U.S.C. § 12101 et seq.;(D) State licensing law and rules;(E) Trust accounts;(F) Accounting procedures and recordkeeping;(G) Contract law; and(H) Agency and disclosure.
(A) Landlord-tenant law;
(B) Federal and state fair housing laws;
(C) The Americans with Disabilities Act of 1990, 42 U.S.C. § 12101 et seq.;
(D) State licensing law and rules;
(E) Trust accounts;
(F) Accounting procedures and recordkeeping;
(G) Contract law; and
(H) Agency and disclosure.
(b) (1) The commission shall establish the experience requirement for licensure for an applicant for a real estate brokers license subject to the condition of serving an active, bona fide apprenticeship by holding a valid salespersons license issued by the commission or by holding a valid salespersons license or real estate brokers license issued by the appropriate licensing agency of another state for a period of not less than twenty-four (24) months within the previous forty-eight-month period immediately preceding the date of application.(2) However, the commission may waive the experience requirement for a real estate broker applicant who has held an active real estate brokers license for a period of not less than eighteen (18) months or who has experience acceptable to the commission in a field considered real estate-related for a period of not less than twenty-four (24) months within the previous forty-eight-month period immediately preceding the date of application.(3) The experience requirement for licensure for an applicant for a property management broker license shall be any combination of:(A) Two (2) years of experience as a licensed property management associate;(B) Two (2) years of experience managing not less than seven (7) residential or commercial units; or(C) A total of two (2) years of a combination of the experience in subdivisions (b)(3)(A) and (b)(3)(B) of this section.
(1) The commission shall establish the experience requirement for licensure for an applicant for a real estate brokers license subject to the condition of serving an active, bona fide apprenticeship by holding a valid salespersons license issued by the commission or by holding a valid salespersons license or real estate brokers license issued by the appropriate licensing agency of another state for a period of not less than twenty-four (24) months within the previous forty-eight-month period immediately preceding the date of application.
(2) However, the commission may waive the experience requirement for a real estate broker applicant who has held an active real estate brokers license for a period of not less than eighteen (18) months or who has experience acceptable to the commission in a field considered real estate-related for a period of not less than twenty-four (24) months within the previous forty-eight-month period immediately preceding the date of application.
(3) The experience requirement for licensure for an applicant for a property management broker license shall be any combination of:(A) Two (2) years of experience as a licensed property management associate;(B) Two (2) years of experience managing not less than seven (7) residential or commercial units; or(C) A total of two (2) years of a combination of the experience in subdivisions (b)(3)(A) and (b)(3)(B) of this section.
(A) Two (2) years of experience as a licensed property management associate;
(B) Two (2) years of experience managing not less than seven (7) residential or commercial units; or
(C) A total of two (2) years of a combination of the experience in subdivisions (b)(3)(A) and (b)(3)(B) of this section.
(c) (1) The commission shall establish a post-licensure education requirement for individuals in their first six (6) months of licensure as salespersons, property management associates, property management brokers, or real estate brokers.(2) The commission shall not require more than thirty (30) classroom hours of post-licensure education hours under subdivision (c)(1) of this section.
(1) The commission shall establish a post-licensure education requirement for individuals in their first six (6) months of licensure as salespersons, property management associates, property management brokers, or real estate brokers.
(2) The commission shall not require more than thirty (30) classroom hours of post-licensure education hours under subdivision (c)(1) of this section.