Arkansas Real Estate-Specific Questions and Answers

AREC members 5 total and are appointed by govener 3 have been licensed in arkansas for 5 years 2 never been in real estate to represent consumer, 1 over 60 3 year term starting jan1 executive director of AREC delegates all duties authority and powers except rule making and adjudicative powers arkansas real estate commission job investigates and disciplines real estate licensees who violate real estate laws and regulations responsible for administering real estate license and education law, time share law, and real estate recovery fund anyone who does a real estate deed for a commission in arkansas who must hold a real estate license penalty of practicing without a license up to $5000 and assess hearing cost and require the violator to reimburse any compensation collected exemptions from licensing selling properties of a business as an executive of that business attorney-in-fact lawyers for divorce or an estate client executor of will resident property manager as a leader if resident in same property government officials real estate any interest in real property including a leasehold, timeshare interval or an interest in real property purchased