Arkansas Real Estate License Law
Arkansas real estate practice is administered by the Arkansas Real Estate Commission under the Arkansas real estate license law. This chapter covers the Commission's authority, the principal-broker structure that is distinctive to Arkansas, and the Real Estate Recovery Fund.
The Arkansas Real Estate Commission
The Arkansas Real Estate Commission (AREC) licenses and regulates real estate brokers and salespersons and enforces the state license law and Commission regulations. A license is required for anyone who, for compensation, lists, sells, leases, or negotiates real estate for others unless an exemption applies. The Commission investigates complaints and may deny, suspend, or revoke a license and impose sanctions for violations.
License Classifications and the Principal Broker
Arkansas recognizes distinct license classifications: the salesperson, the executive broker, and the principal broker. Every real estate firm must have a principal broker who is responsible for the firm's operations, its trust account, and the supervision of affiliated executive brokers and salespersons. A salesperson or executive broker conducts licensed activity for, and under the supervision of, the principal broker, and is compensated through that broker.
The Real Estate Recovery Fund
Arkansas maintains a Real Estate Recovery Fund that may reimburse a member of the public who obtains a final court judgment against a licensee for an actual loss caused by fraud, misrepresentation, deceit, or conversion of funds in a licensed transaction and cannot otherwise collect, subject to statutory limits. When the fund pays a claim, the licensee's license is suspended until the fund is repaid. The fund protects consumers but is not an insurance program.
State-specific details
State exam facts
- State regulator
- Arkansas Real Estate Commission (AREC)
- Exam vendor
- PSI
- Prelicensing education
- 60 hours of approved salesperson pre-license education
How many prelicensing hours does Arkansas require to become a real estate agent?
Arkansas requires 60 hours of Commission-approved education (a 60-hour pre-license course) before you sit for the salesperson exam.
Who licenses real estate agents in Arkansas?
The Arkansas Real Estate Commission (AREC) licenses salespersons and brokers. AREC uses PSI to deliver the exam.
How is the Arkansas salesperson exam structured?
The Arkansas salesperson exam is delivered by PSI with a national portion and an Arkansas state portion, scored separately; you must pass both. Confirm the current scored-question counts in the PSI Candidate Information Bulletin.
Sources: https://arec.arkansas.gov/apply-for-a-license/, https://www.psiexams.com/
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