What ACA code created the Arkansas real estate Commission?

How are changes made to the Arkansas real estate code and the Arkansas Real Estate Commission rules?

How are changes made to the Arkansas real estate code and the Arkansas Real Estate Commission rules? The code is changed by a vote of the legislature and the rules by decision of the Arkansas Real Estate Commissioners.

What agency regulates real estate practice and brokerage in Arkansas?

Arkansas State Licensing

The Arkansas Real Estate Commission (AREC) licenses, registers, and regulates real estate salespersons (sales agents) and brokers and has its real estate licensing exam administered by Pearson VUE.

Can a felon be a real estate agent in Arkansas?

Background check information:

Arkansas Real Estate Commission is charged with the duty of protecting the public’s health, safety and welfare. Prior to January 1, 2020, Arkansas law has prohibited AREC from issuing a license to anyone convicted of a felony or other certain crimes considered a danger to the public.

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What is the maximum amount the Arkansas real estate Commission is obligated to pay out of the real estate Recovery Fund to the aggrieved party or parties?

The maximum compensation that will be paid from the Arkansas Real Estate Recovery Fund under such circumstances is $50,000.

How hard is the Arkansas real estate exam?

This is by no means a simple test. As noted by the Arkansas Real Estate Commission (AREC), you need a score of (70) to pass this exam. Nearly half of all applicants fail the test. … With our real estate test guides, students pass official licensure exams more than 95 percent of the time.

What percent of real estate licensees in Arkansas are Realtors?

The data: We surveyed local agents and found that the average real estate commission in Arkansas is 5.91%, which is higher than the national average of 5.50%.

The current state of the Arkansas real estate market.

Factor Trends Indication
Home values Home values have risen 11.4% year over year Seller’s market

How much does it cost to get a real estate license in Arkansas?

Applicants for a real estate salesperson license pay a license fee of $50.00 and a Recovery Fund Fee of $25.00. The fees need to be paid within 90 days after passing the real estate exams. Applicants for a real estate broker license pay a license fee of $70 and a Recovery Fund Fee of $25.00.

Who shall request the earnest money be released in good funds to the closing clerk prior to closing?

Who shall request the earnest money to be released, in good funds to the closing clerk, prior to closing? Listing agent generally requests it from the broker at least 24 hours before closing.

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Is Arkansas a good place to live?

Arkansas is a good place to live especially if you prefer to live close to the vast American wilderness. Given the natural beauty of the state and that the cost of living is low across most of the state; there are scores of great areas to live in Arkansas.

What is a real estate board?

The largest association of property professionals in NSW

With a track record and reputation for delivering valued products and services, REINSW promotes and responds to the changing needs of members and boasts over 100 years of experience.