Title 17, Professions, Occupations, and Businesses

(a) In order to be licensed in Arkansas a nonresident must:(1) Either:(A) Meet the requirements of § 17-42-302; or(B) Show satisfactory proof of current active licensure in the applicant's resident jurisdiction, which must be a jurisdiction that offers Arkansas licensees opportun…

(a) (1) Applications for licensure shall be submitted on forms provided by the Arkansas Real Estate Commission.(2) The commission may require any information and documentation needed to determine if the applicant meets the criteria for licensure as provided in this chapter.(3) Ea…

(a) Every license shall expire on a date established by the Arkansas Real Estate Commission. (b) (1) A broker or salesperson shall complete annually:(A) Not less than six (6) or more than seven (7) classroom hours of continuing education required by the commission with at least o…

(a) (1) A licensee may place his or her license on inactive status.(2) The holder of an inactive license shall not practice as a real estate broker, salesperson, property management associate, or property management broker in this state without first activating the license. (1) A…

(a) Every principal broker shall maintain a place of business and shall display a permanently attached sign bearing the name under which the principal broker conducts his or her real estate business and the words “real estate”, “realty”, or other words approved by the Arkansas Re…

(a) (1) When a licensee changes his or her name, place of business, or address shown on the license, or loses a license or pocket card, he or she shall promptly notify the Arkansas Real Estate Commission of such a change or loss.(2) Upon receipt of the notice and payment of the r…

(a) The following acts, conduct, or practices are prohibited, and any licensee found guilty shall be subject to disciplinary action as provided in § 17-42-312:(1) Obtaining a license by means of fraud, misrepresentation, or concealment;(2) Violating any of the provisions of this …

(a) (1) The Arkansas Real Estate Commission may, on its own motion, and shall, upon the verified complaint in writing of any person, provided that the complaint and any evidence, documentary or otherwise, presented in connection therewith shall make out a prima facie case, invest…

(a) Any person whose complaint against a licensed real estate broker, salesperson, property management associate, or property management broker is dismissed by the Executive Director of the Arkansas Real Estate Commission without a hearing may appeal the dismissal to the Arkansas…

(a) Proceedings under § 17-42-312 and hearings on denials of licenses shall be conducted pursuant to the Arkansas Administrative Procedure Act, § 25-15-201 et seq. (b) Except in cases in which a licensee has obtained a license by false or fraudulent representation, the Arkansas R…

(a) (1) The Arkansas Real Estate Commission may require each original applicant for a license issued by the commission to apply to the Identification Bureau of the Division of Arkansas State Police for a state and federal criminal background check to be conducted by the Identific…

(a) The common law of agency under Arkansas as supplemented by this section applies to the relationship between a licensee and the licensee's client. (b) (1) (A) Except as provided under subdivision (b)(1)(B) of this section, in accepting employment by a client, a licensee pledge…

(a) When representing a seller or lessor in an agency relationship, a licensee shall:(1) (A) Use reasonable efforts to obtain a purchase or lease offer at a price and with terms acceptable to the seller or lessor.(B) Unless requested by the seller or lessor, the licensee is not o…

(a) When representing a buyer or lessee in an agency relationship, a licensee shall:(1) (A) Use reasonable efforts to locate a property at a price and with purchase or lease terms acceptable to the buyer or lessee.(B) Unless requested by the client, the licensee is not obligated …

(a) A licensee shall perform the duties required under § 17-42-317 or § 17-42-318 unless the client agrees to waive these duties and signs a waiver of duties statement that contains:(1) A list of the fiduciary duties required of all licensees under § 17-42-316;(2) A list of the d…

(1) The provisions of this subchapter shall apply only to:(1) Licensees who were licensed at the time of the occurrence of the acts or violations complained of; and(2) Acts or violations which occur after December 31, 1979. (1) Licensees who were licensed at the time of the occur…

Nothing in this subchapter shall be construed to limit or restrict in any manner other civil or criminal remedies which may be available to any person.

There is created and established the “Real Estate Recovery Fund”, which shall be maintained and administered by the Arkansas Real Estate Commission as provided in this subchapter.

(a) The Arkansas Real Estate Commission shall set the fees at such amount as it deems necessary to initially establish the Real Estate Recovery Fund and to reestablish the fund at the beginning of each annual renewal period. However, the fees shall not exceed the limits set forth…

(a) In addition to the other fees provided for in this chapter and rules of the Arkansas Real Estate Commission, each licensed real estate broker and salesperson shall pay to the commission for the benefit of the Real Estate Recovery Fund a fee as the commission may require, not …

(a) (1) In any disciplinary hearing before the Arkansas Real Estate Commission which involves any licensee who has allegedly violated any provision of this chapter or commission rules, the commission shall first determine whether a violation has occurred.(2) If so, the commission…

(a) The Arkansas Real Estate Commission's jurisdiction and authority to award damages to an aggrieved party pursuant to § 17-42-406 is limited to actual, compensatory damages. The commission shall not award punitive or exemplary damages, nor shall it award interest on damages. (b…

(a) An appeal may be taken to the circuit court from a final order of the Arkansas Real Estate Commission in accordance with the Arkansas Administrative Procedure Act, § 25-15-201 et seq. (b) An appeal shall automatically stay that portion of the commission's order which directs …

(1) Upon the payment by the Arkansas Real Estate Commission of any amount of money under the provisions of § 17-42-406:(1) The recipients of the payment, to the extent of the payment, shall assign to the commission all rights and claims that they may have against the licensee inv…

(a) The Arkansas Real Estate Commission shall establish an education program for real estate brokers, salespersons, and property management licensees to ensure that education is available and accessible to an applicant or a licensee. (b) The education program is intended to fulfi…

(1) As used in this subchapter:(1) “Accredited college or university” means a state-supported institution of higher education or a nonpublic, not-for-profit college or university currently incorporated and recognized by the Arkansas Higher Education Coordinating Board as an Arkan…

(a) The licensing requirements of this subchapter do not apply to:(1) The National Association of Realtors, the National Association of Real Estate Brokers, or other associated entities if each association identifies an administrator;(2) An accredited college or university; or(3)…

(a) A person shall not practice as a provider of real estate education for real estate licensure unless the person holds a real estate license under this subchapter. (b) A person or school shall not represent that an offered real estate course satisfies the education requirements…

(a) If after notice and a hearing under this subchapter and the Arkansas Administrative Procedure Act, § 25-15-201 et seq., the Arkansas Real Estate Commission finds that a person has offered a nonqualified offering, the commission may impose a civil penalty of no more than five …

(a) The Arkansas Real Estate Commission may adopt rules as necessary to implement this subchapter. (b) The commission shall license, approve, and regulate schools, associations, principal instructors, and associate instructors offering commission-approved prelicense, postlicense,…

Except as otherwise provided in this subchapter, the fees, charges, fines, and penalties collected by the Arkansas Real Estate Commission under this subchapter are to be to be deposited into the Arkansas Real Estate Commission Fund and spent under § 17-42-204.

The Arkansas Real Estate Commission may issue subpoenas and subpoenas duces tecum with both its investigations and hearings of persons, entities, and courses under § 17-42-205.

(a) The Arkansas Real Estate Commission shall issue a license to an applicant instructor of real estate education who:(1) Is twenty-one (21) years of age or older;(2) Has successfully completed the real estate education requirements under this subchapter;(3) Has sufficient experi…

(a) The Arkansas Real Estate Commission may charge and collect the following fees annually:(1) An original license fee for each main school not to exceed five hundred dollars ($500);(2) An original license fee for each branch school not to exceed three hundred dollars ($300);(3) …

(a) Applications for licensure are submitted on forms provided by the Arkansas Real Estate Commission. (b) An applicant for licensure shall pay the fees required under this subchapter. (c) An applicant for licensure or course approval shall furnish contact information on forms pr…

(a) A license is issued for a term of one (1) year. (b) (1) The Arkansas Real Estate Commission shall issue approval for renewal of a license in the absence of a reason or condition that may warrant the refusal of the renewal on receipt of a renewal request thirty (30) days befor…

(a) Except for courses exempted in § 17-42-503(b), a real estate or property management course that is intended to satisfy the education requirements for a real estate or property management license issued by the Arkansas Real Estate Commission shall first be approved by the comm…

(a) The Arkansas Real Estate Commission may:(1) Require continuing education for licensees under § 17-42-307;(2) Identify subject matter topics for continuing education courses;(3) Identify a specific topic of not more than three (3) classroom hours to be included in the annual c…

(1) An applicant for a license or a licensee under this chapter is subject to disciplinary action under this subchapter if the applicant for a license or a licensee pleads guilty or nolo contendere to or is found guilty of any of the following:(1) Obtaining an instructor license,…

(a) (1) The Arkansas Real Estate Commission may on its own motion and shall on the complaint in writing of a person, if the complaint and evidence presented make a prima facie case, investigate the action of a person or entity engaged in the business or acting in the capacity of …

(a) A person whose complaint against a licensed school, administrator, or instructor is dismissed by the Executive Director of the Arkansas Real Estate Commission without a hearing may appeal the dismissal to the Arkansas Real Estate Commission subject to the following:(1) The re…

(a) Proceedings under this subchapter are conducted under the Arkansas Administrative Procedure Act, § 25-15-201 et seq. (b) Except in the case of a person or entity obtaining a license or course approval by false or fraudulent representation, the Arkansas Real Estate Commission …

(a) The Arkansas Real Estate Commission is hereby authorized and empowered, subject to the following restrictions and limitations, to establish a program authorizing and permitting the collection of interest on real estate brokers' trust accounts and the disbursement of the inter…

(a) All real estate brokers participating in the interest on real estate brokers' trust accounts program shall post a notice at least four inches by seven inches (4″ x 7″) stating that they participate in the interest on real estate brokers' trust accounts program. (b) The notice…

(a) (1) The recipient of the funds generated by the interest on real estate brokers' trust account program shall be such Arkansas nonprofit corporation as the Arkansas Real Estate Commission shall designate.(2) The corporation shall be governed by a board of directors consisting …

(1) As used in this subchapter:(1) “Actual introduction” means the referral of a principal to a licensee by the person or entity seeking the referral fee before the principal and licensee have engaged in material discussions regarding a specific real estate transaction;(2) (A) “I…