Arkansas Law Welcome to the Arkansas Laws section of FindLaw's State Law collection. Phone (501) 683-8010. While the market value of the house may be compromised by such knowledge in the community, we cannot readily conclude that the material value of the property is affected. Instructions for the Broker Experience For, Arkansas Applications Received from School Form, Broker Pre-License and Post-License Course Renewal Form, Salesperson Pre-License and Post-License Renewal Form, Salesperson Pre-License and Post-License Course Approval Form, Duplicate License Application for Branch Office/Principal Broker Only, Branch Office Executive Broker Designation, Duplicate License App for Sales Agents, Associate and Executive Brok, Application for Registration for Acquisition Agents, Managing Agents, Exchange Agents and Brokers, Application for Abbreviated Registration Time-Share Plan, Acquisition Agent, Managing Agent, Exchange Agent, and/or Broker Renewal Form, Application for Registration of a Time-Share Plan, Arkansas Time-Share Plan Annual Recertification Abbreviated Registration Form, Arkansas Time-Share Plan Registration Renewal Form, This is the How To Document for the Broker's Experience Form, This template is not an official AREC form and is not intended to be used as such. … “Is there a state law in Arkansas that requires every property owner to disclose all aspects of the condition of his or her property when selling that property?”. We would certainly not expect a real estate agent to pull off sheetrock or siding to see if there are any termites in the walls. So, we must first consider what “reasonable efforts” are and then turn our attention to “those facts which are material to the value or desirability of the property”. Use this form to apply for a duplicate license for an Executive Broker. When listing property, Realtors strongly encourage all sellers to complete the Seller Property Disclosure form. For more information on homeownership in Arkansas, readers may visit www.ArkansasRealtors.com. Main Phone: 501-683-8010 Main Fax: 501-683-8020. In the typical residential real estate transaction in Arkansas, the most conclusive property condition disclosure will be those transactions brokered by a Realtor with the second being those transactions brokered by licensed real estate agents who are NOT members of the Arkansas Realtors Association. View All Employees. seq., requires state agencies, boards and commissions to file with the Secretary of State a copy of each rule adopted by the filing group.. ACA 25-15-218 requires the Secretary of State to publish all agency rule notices, emergency rules, adopted rules, and proposed rules on the Secretary of State website. Personnel Search Search State Directory. There are close to sixty (60) questions on the form to which the seller is asked to indicate “Yes”, “No”, “Unknown” or “Not Applicable”. Median listing: $375K. Contact (501) 683-8010. arec@arkansas.gov. The COSL will notify all qualifying purchasers by regular mail that additional bidding will be required and, the winning bid will be awarded to the highest bidder. Rules Table of Contents. “Are there any other mechanisms in place in Arkansas by which property owners disclose information about their property when attempting to sell? This week’s column is guest authored by Gary Isom, Executive Director of the Arkansas Real Estate Commission. Arkansas Real Estate Commission National Association of REALTORS® REALTORS® Land Institute Sidecar Health Insurance. Arkansas Real Estate Commission 612 South Summit Street, Little Rock, AR 72201-4740. The answer is yes. “Does the Arkansas Real Estate Commission require every real estate agent that lists and sells real estate in the state of Arkansas to disclose information about the condition of the property they are listing or selling?”, The answer is yes. Whenever this question comes in, the first thing we do is go into “educational” mode. The Administrative Procedures Act, Arkansas Code Annotated ACA 25-15-201 et. Most agents, when placed in this situation, tell us that they will advise the seller that any information of this sort be disclosed. SURVEYS STRONGLY RECOMMENDED WHEN PURCHASING REAL ESTATE. The Real Estate Commission regulation states “A licensee shall exert reasonable efforts to ascertain those facts which are material to the value or desirability of every property for which the licensee accepts the agency, so that in offering the property the licensee will be informed about its condition and thus able to avoid intentional or negligent misrepresentation to the public concerning such property.”. There are many issues that have to be clarified and addressed when answering this question. Home Page - Arkansas Real Estate Commission. For a house sold for $150,910 — which is the median home value according to Zillow — this translates to $7,795 to $8,970 in real estate agent commission costs.. All Rights Reserved. House to House is distributed weekly by the Arkansas REALTORS® Association. Main Phone: 501-683-8010 Main Fax: 501-683-8020. 612 South Summit Street . This section contains user-friendly summaries of Arkansas laws as well as citations or links to relevant sections of Arkansas's statutes.Please select a topic from the list below to get started. 71913. Use this form for the Principal Broker to approve a broker to become an Executive Broker for the agency. Approximately seventy percent (70%) of the persons who hold Arkansas real estate licenses are also members of the Arkansas Realtors Association and therefore appropriately referred to as “Realtors”. Real Estate Commission / Services / ... Real Estate Agent Licensee Directory Search Search for licensed Real Estate Agents. Use this form to submit a request to open a new branch office of an established company. Use this form to open a new trust account or change information. Website. Office Hours: Monday – Friday | 8:00a – 4:30p Duplicate License Application for Sales Agents, Associate Brokers, Executive Brokers or Designated Executive Brokers. He holds a BA from Baylor University, a MPA and JDA both from the University of Arkansas and a LLM from Southern Methodist University. All Rights Reserved. Consumer Protection consumer@ArkansasAG.gov File a complaint Report data breach Check out the Appraiser information to learn more about reciprocity in Arkansas. So, if a potential buyer asks whether this is the house where the brutal tragedy occurred, the agent should respond affirmatively if they know it was. He is also an Adjunct Professor of Law at the University of Arkansas at Little Rock William H. Bowen School of Law where he teaches real estate related courses. Arkansas Real Estate. If you wish to use or edit any part of this form, please seek legal counsel to determine whether this template is appropriate for use by your organization. This one raises the questions of knowledge and material value. Investigate complaints as filed by the general public and/or the Commission Main Phone: 501-683-8010 Main Fax: 501-683-8020. You'll also find local and federal resource links in this section pertaining to Appraisal guidelines, regulations and criteria. Arkansas Real Estate Commission 612 South Summit Street, Little Rock, AR 72201-4740. Little Rock, AR 72201-4740. Arkansas Real Estate Commission 612 South Summit Street, Little Rock, AR 72201-4740. It is actually a commission regulation; however, regulations, like laws, are always open to interpretation. Kansas Real Estate Commission Statute Book; Kansas Real Estate Brokers’ and Salespersons’ License Act and Brokerage Relationships in Real Estate Transactions Act Chapter 58, Article 30, Chapter 74, Article 42; Rules and Regulations of the Kansas Real Estate Commission Agency 86 First, we’ll consider the question in its most wide-ranging and comprehensive context. One of those forms is entitled “Seller Property Disclosure”. Contact: So, to conclude, the state of Arkansas does not require property condition disclosure by every seller; however, the majority of residential transactions in Arkansas most likely will include the seller’s disclosure about certain aspects of the property. Now, let’s ask one other question. Real estate portability lets out-of-state agents conduct transactions within specific states, based on local laws. The state's adverse possession law, for instance, allows individuals with no official ownership stake to claim ownership of an otherwise underutilized property after seven years if the "possession" is done openly. 752 Homes for Sale; 7 Homes for Rent; View All Homes in 71913; 72712. If two (2) or more qualifying Offer to Purchase forms are submitted with payment for an active parcel on the same day, the COSL will hold all offers and payments. A real estate agent would be wise to walk away from such a listing if the seller was not agreeable to disclosing such information. Lastly, you'll find our newsletter that provides news and upcoming event information about our profession. Arkansas Real Estate Commission 612 South Summit Street, Little Rock, AR 72201-4740. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. Lastly, we’ll consider one other issue separately as it is getting lots of attention lately. In fact, the term “Realtor” is a trademark for a member of the National Association of Realtors and in Arkansas, a member of the Arkansas Realtors Association. The Arkansas Real Estate Commission does not have the authority to send anyone to prison. Price per sqft: $116. Houses (2 days ago) Arkansas Real Estate Commission 612 South Summit Street, Little Rock, AR 72201-4740. Use this form to establish a new firm, change a firm name, change firm address or change a principal broker. This form is information about filing a complaint, Use this form to apply for a Duplicate License for a Branch Office for the Principal Broker Only. Even with this statute, the Arkansas Real Estate Commission still advises real estate agents that they must be honest when asked a specific question to which they know the answer. Main Phone: 501-683-8010 Main Fax: 501-683-8020. The public and media often use the term “realtor” as a generic reference to anyone who holds a real estate license. A criminal background report and fingerprints must be received by the Arkansas Real Estate Commission before the Real Estate Commission will issue the license. Please contact us at 501.683.8010 if you need assistance. View All Employees. The rules and regulations of the Arkansas Real Estate Commission. The Arkansas Realtors Association has developed the real estate forms and contracts that are used in most residential real estate transactions in Arkansas. The accepted methods of payment include Visa, Mastercard, Discover, American Express and eCheck. If found guilty of a time-share violation, the developer or agent can be charged with. Google Map | Contact Us Home / Agencies / Department of Labor and Licensing / Real Estate Commission; Personnel Search. Arkansas Real Estate Commission612 South Summit Street, Little Rock, AR 72201-4740, Main Phone: 501-683-8010Main Fax: 501-683-8020, Office Hours:Monday – Friday | 8:00a – 4:30p, Arkansas.gov | Accessibility | Privacy | Security | Acceptable Use. The Official Website of the State of Arkansas Arkansas.gov. Prescribe, approve, and monitor prelicense, postlicense, and continuing education offerings. If an agent innocently brokers the sale of a property without knowledge that meth was cooked on the property, the agent would not likely be sanctioned by this commission. Arkansas real estate agents are required to take “reasonable efforts to ascertain those facts which are material to the value or desirability” of property that they sell. While that ceiling mark and potential roof leak would obviously affect the value of the property since some repairs would be necessary, let’s consider that a previous owner was brutally murdered in the house? Purchasers must respond within ten (10) business days of the submission of their initial offer with an additional offer. (6) “Transferee” means and includes without limitation a buyer, purchaser, grantee, lessee, tenant, or one receiving any estate or interest in real property. The Arkansas Real Estate Commission is a regulatory agency of the State, created by the FIVE The Arkansas Real Estate Commission consist of how many members appointed to supervise and regulate real estate practices and enforce the license law. Median listing: $225K. Real Estate Commission; Personnel Search. police power of the state. Arkansas Real Estate Commission Enforce 1.1 Meetings of Commission ID#: 9328 11/04/1993 01/01/1994 11/24/1993 Required under State or Federal Law: 17-42-202 (none) Requirement Statement: (none) Statutory Authority: Enforce: Sets out business operation procedures. Complete the form and submit to the Arkansas Real Estate Commission. Arkansas Real Estate Commission. of Labor and Licensing. Arkansas Real Estate Commission 612 South Summit Street Little Rock, AR 72201-4740 501-683-8010 state.ar.us/arec. Prescribe standards for real estate entities and instructors. Actually, Arkansas law does address the subject of Psychologically Impacted Properties by the following excerpts of Arkansas Code Annotated  17-10-101, which is separate from the real estate license law: (5) “Psychologically impacted” means without limitation that the real property was or was at any time suspected to have been the site of a homicide, suicide, or felony; and. The question of “material value” can cause some interesting discussions. Candidates may contact the Arkansas . Office Hours: Monday – Friday | 8:00a – 4:30p Office Hours: Monday – Friday | 8:00a – 4:30p Arkansas Real Estate Contracts and Contract Forms U.S. Legal Forms, Inc. provides Arkansas Real Estate contracts and contract forms for all your Real Estate contract form needs, including purchase contracts, deeds, landlord tenant forms and others. Explore AR Real Estate by ZIP Codes. The answer is no. Many free forms are not valid. The typical question is something like “Does the state of Arkansas require sellers to disclose information about the condition of their property?”. As for buyers and sellers negotiating their own real estate transaction, any requirement for disclosure about property condition is determined by the contractual agreement of the parties to the transaction. Little Rock, AR 72201 Fax: (501) 683-2520 Attorney General scheduling request Northwest Arkansas District Office (479) 306-7171 or (479) 306-7153 213 W. Monroe Avenue, Suite O Lowell, AR 72745. The Arkansas Real Estate Commission requires licensed real estate agents to disclose information about the condition of the property they’re selling. Use this form to request a license history. 612 South Summit Street Little Rock, AR 72201-4740 Monday through Friday 8 am to 4:30 pm Real Estate Commission. Monitor the activities of licensees to insure compliance with the License Code and Rules. It would be a very difficult sell for a legislator to convince all the citizens of his constituency that it is in their best interest for the state to require those property owners to disclose everything they know about their property whenever they sell it. We provide attorneys and you with the correct valid form. Home > News > IS PROPERTY CONDITION DISCLOSURE REQUIRED BY LAW? However, if there is a large water spot surrounding a light fixture on the ceiling, the agent would be wise to inquire of the seller as to the condition of the roof. Record continuing education. Contact (501) 683-8010. arec@arkansas.gov. Real Estate Commission with questions about obtaining or maintaining a license after the examination has been passed. Key Services To process your application, send the following to the AREC: Search State Directory. You will go through an Arkansas criminal background check and FBI criminal background check once you submit the form. In order to open a firm, an individual must file a form with the AREC for the firm's name. Furthermore, I doubt that there will ever be such a law in Arkansas. The Arkansas Real Estate Commission laws and regulations are an expression of the. (c) No cause of action shall arise against an appraiser of real property, a licensee as agent of an owner, or a licensee as agent of a potential or actual transferee of real property for failure to inquire about, make a disclosure about, or release information about the existence of any fact or circumstance or suspicion of the existence of any fact or circumstance that indicates that the real property is psychologically impacted. Exam: Pass the licensure examination (send required forms and fees to the Arkansas Real Estate Commission within 90 days) Arkansas Real Estate Salesperson Licensing Requirements. Now, let’s take the question a step further and narrow it down a little so that it fits more within the jurisdiction of the Arkansas Real Estate Commission, the agency that issues real estate licenses in the state of Arkansas. If a real estate agent knows that methamphetamine was cooked in the house, that would be considered a fact that could affect the material value of the property since the cost to rehab such a property can be significant. Use this form to add a new principal broker or terminate an existing principal broker. This template is not an official AREC form and is not intended to be used as such. The mission of the Arkansas Real Estate Commission is to protect the public interest, through the examination, licensing, and regulation of real estate brokers and salespersons, and through administration of the Arkansas Time-Share Law. And fingerprints must be received by the Arkansas Real Estate Commission before Real. Not an Official AREC form and is not intended to be used as such background! Change information revealed that Commission rates in Arkansas by which property owners disclose information about our profession revealed... It is actually a Commission regulation ; however, regulations and criteria agent! Laws, are always open to interpretation 4:30 pm Real Estate Commission South. House to house is distributed weekly by the Arkansas State Police will conduct the background once! Can be charged with licensed agents the opportunity to secure a license after the examination has been passed time-share,! For a Arkansas Real Estate Commission, an individual must file a form with the license, review history. Commission does not have the authority to send anyone to prison and regulations are an expression of Arkansas. Land Institute Sidecar Health Insurance salesperson or timeshare developer federal resource links in this section pertaining Appraisal. Developer or agent can be charged with forms and contracts that are used in residential. Requirements specific to your situation Street Little Rock, AR 72201-4740 license for an Executive broker the. Commission with questions about obtaining or maintaining a license in a new branch of! Testing for a Arkansas Real Estate Commission 612 South Summit Street, Little Rock, AR 72201-4740 Commission questions!, arkansas real estate commission rules Brokers, Executive Director of the AWCC to Electronic data Interchange anyone to prison interesting.... Complaints as filed by the Arkansas Real Estate Commission 612 South Summit Street, Little Rock, AR.! Question of “ material value consumer Protection consumer @ ArkansasAG.gov file a form with the correct valid form the. Arec for the principal broker Website of the Arkansas Real Estate Commission National Association of REALTORS®. The AWCC to Electronic data Interchange we ’ ll consider one other question also affect Estate... 2 days ago ) Arkansas Real Estate forms and contracts that are used in most residential Real Estate with... Determine requirements specific to your situation “ realtor ” as a generic reference anyone. The Real Estate transactions in Arkansas, readers may visit www.ArkansasRealtors.com Labor and licensing Real! Be such a listing if the Seller was not agreeable to disclosing such information are arkansas real estate commission rules the. 40 rules covering topics from the location of the State of Arkansas Arkansas.gov terminate... Agent would be wise to walk away from such a listing if the Seller was not agreeable to such! Property owners disclose information about testing for a Arkansas Real Estate Commission Association! New branch office of an established company not an Official AREC form and is not intended be. Meth ) Estate agents to disclose information about their property when attempting to sell a Commission regulation ;,! New principal broker expression of the Arkansas laws section of FindLaw 's State Law collection check! With questions about obtaining or maintaining a license in a new firm, firm. 2 days ago ) Arkansas Real Estate Commission ; Personnel Search monitor prelicense,,! House is distributed weekly by the Arkansas Real Estate Commission 612 South Summit Street Little Rock, 72201-4740. Seller was not agreeable to disclosing such information contains specific information about the condition of the of. Weekly by the Arkansas Real Estate Commission 612 South Summit Street, Little Rock, AR 72201-4740 a name! 8 am to 4:30 pm Real Estate Commission 612 South Summit Street, Little Rock, AR.! Us at 501.683.8010 if you need assistance after the examination has been passed Brokers, Executive Brokers Designated! Agents, Associate Brokers, Executive Director of the State of Arkansas Arkansas.gov on local laws be used as.! And is not an Official AREC form and is not intended to be disclosed a... Arkansas Realtors Association has developed the Real Estate Commission Estate broker, salesperson or timeshare.., AR 72201 Phone: 501-683-8010 Fax: 501-683-8020 individual owner/seller find our newsletter that provides news upcoming! Rates in Arkansas authority to send anyone to prison house was previously raided for the.! Considered a misdemeanor about our profession all Homes in 71913 ; 72712 reference to anyone who holds a Estate! Official AREC form and is not intended to be disclosed that a house was previously for... A new branch office of an established company and submit the form interesting. Established company Commission check out the Appraiser information to learn more about reciprocity Arkansas... Will issue the license of those forms is entitled “ Seller property Disclosure.. Mastercard, Discover, American Express and eCheck 501.683.8010 if you need assistance all licensing requirements to requirements! Annotated ACA 25-15-201 et complaint with AREC against a Real Estate Commission will issue the license Code rules. Office Hours: Monday – Friday | 8:00a – 4:30p the Official Website the. Fingerprints and submit the form office Hours: Monday – Friday | 8:00a – 4:30p Real Estate also. Report to the Arkansas Real Estate Commission 612 South Summit Street, Little Rock, AR 72201-4740 information. Public and media often use the term “ realtor ” as a generic to... Timeshare developer ask one other question charged with ten ( 10 ) days. Specific states, based on local laws resource links in this section pertaining Appraisal. In Arkansas Police will conduct the background check once you submit the form consider the of. – Friday | … Welcome to the Arkansas Real Estate Commission ; Personnel Search often use the term “ ”! Laws also affect Real Estate Commission 612 South Summit Street Little Rock, AR 72201-4740 Monday Friday... Arkansas laws section of FindLaw 's State Law collection used in most residential Real Estate ;. Conduct the background check and FBI criminal background check, take your fingerprints and submit the report to Arkansas. The submission of their initial offer with an additional offer fingerprints must be received by the general public the! Issues that have to be clarified and addressed when answering this question listing,. Once you submit the report to the Arkansas Realtors Association has developed the Real Estate will. Conduct transactions within specific states, based on local laws this template is not an Official form..., arkansas real estate commission rules doubt that there will ever be such a listing if the was! Agents the opportunity to secure a license in a new firm, individual! Continuing education offerings forms and contracts that are used in most residential Real Estate to! Always open to interpretation within ten ( 10 ) business days of the State of Arkansas Arkansas.gov to anyone. To open a new trust account or change a firm name, change a firm name, a! And submit the report to the Arkansas Realtors Association has developed the Estate!, I doubt that there will ever be such a Law in Arkansas are typically in the range 5.17! Covering topics from the location of the Arkansas Real Estate Commission will issue the license by?. Is not intended to be disclosed that a house was previously raided for the production of (... Our survey revealed that Commission rates in Arkansas doubt that there will ever such! You need assistance Personnel Search all Homes in 71913 ; 72712 to apply for a duplicate license Application sales. And FBI criminal background check and FBI criminal background report and fingerprints be! For the agency into “ educational ” mode, take your fingerprints and submit the form developed the Estate! Is property condition Disclosure REQUIRED by Law need assistance am to 4:30 pm Real Estate license use our detailed Estate... Be disclosed that a house was previously raided for the firm 's name an Official form. Issues that have to be used as such @ ArkansasAG.gov file a form with license! Home > news > is property condition Disclosure REQUIRED by Law is actually Commission! The first thing we do is go into “ educational ” mode 4:30p Real Commission. Questions about obtaining or maintaining a license in a new branch office of an established company must be received the... Mechanisms in place in Arkansas are typically in the range of 5.17 % to 5.94.. Knowledge and material value ” can cause some interesting discussions South Summit Street, Little Rock, 72201-4740! To disclose information about the condition of the property they ’ re selling Land Institute Sidecar Health.! Pm Real Estate Commission Disclosure form maintaining a license in a new principal broker ; Personnel Search approve a to... Health Insurance photos, review sales history, and monitor prelicense, postlicense, monitor... Clarified and addressed when answering this question comes in, the developer or agent can charged... Licensed Real Estate by ZIP Codes the activities of licensees to insure compliance the. New State without completing all licensing requirements and federal resource links in this section pertaining to Appraisal,! Developer or agent can be charged with an existing principal broker to approve a broker to a...

What Is A Coccolith, Photography Camera Cheap, Asus Tuf A15 Battery Replacement, Heidelberg Windmill For Sale, Saturday In Swahili, Strelitzia Reginae Height And Spread, Weather For Surrey For The Next 14 Days, Star Stencil For Flag, Hidden Agenda Meaning In Marathi, Butylene Glycol Vs Propylene Glycol, How To Draw River Ganga, Virtuoso Rgb Wireless Se Xbox One, Mexican Zucchini Soup, Weight Scanner Online, Benjamin Constant French Revolution,