Real Estate Practice in Arkansas
Arkansas practice emphasizes proper handling of trust funds by the principal broker, honest disclosure of property condition, and truthful advertising. This chapter covers trust accounts, disclosure, and advertising.
Trust Accounts and Earnest Money
Earnest money and other trust funds are handled through the firm's trust account, for which the principal broker is responsible. A salesperson who receives trust money must deliver it promptly to the principal broker for deposit, and trust funds must be kept separate from the broker's personal and operating money. Commingling or converting trust funds is a serious violation of Arkansas license law.
Disclosure of Property Condition
A licensee must not help a seller conceal known material defects and must disclose known material facts that affect the value or desirability of the property. Sellers commonly provide a written property condition disclosure to the buyer. Accurate, honest disclosure protects the consumer and limits the licensee's exposure to misrepresentation claims.
Advertising Under the Firm
Advertising must be truthful and must be conducted in the name of the firm and under the supervision of the principal broker rather than by a salesperson acting independently. Licensees may not use false or misleading statements to induce a transaction. The principal broker is accountable for the advertising of affiliated licensees.
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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