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Arkansas Real Estate Commission
|Arkansas Real Estate Commission came into being with the amendments of the Act 148 of 1929 to safeguard the public interest. The core purpose of the commission is to regulate and issue real estate license to the brokers and salesperson. All the functions performed by the AR Real Estate Commission are according to the real estate law.
It is five member agency who are appointed by the Governor for the period of three years. These members are from the following category:
To discharge the responsibilities of the commission there is a staff consist of fifteen members and an Executive Director who is appointed by the Commission. For the proper functioning of the commission there are different laws. Four Laws of real estate are administered by the Arkansas Real Estate Commission, which are:
- Three from the real estate profession
- One from the Consumer representative
- One as an elderly representative
- Real Estate Licensing Law
- Real Estate Recovery Fund
- Continuing Education Program
- Time Share Law
Arkansas Real Estate Commission: Functions
Thus the main functions of Arkansas Real Estate Commission are:
- Licensing Real Estate Brokers and Salespersons
- Investigating Complaints
- Continuing Educational
- Time Share Programs
Investigation of the complaints is according to the AR Administrative Procedure Act. During the probe, each complaint against the violation of Real Estate License Law or Time Share Law is reviewed by the Executive Director and then tackled by the Commissioner for the disciplinary action. The Arkansas Real Estate Commission is also responsible for collecting the funds for the people who have suffered a monetary loss because of the default practices of real estate brokers or salesperson. Most of this recovery fund is used as real estate educational purposes.
Real Estate License needs renewal and for this each year the Arkansas Real Estate Commission select the topic for six classroom hours, which are then cleared by the applicants.
Along with this seminars for continuing education are also conducted by the Real Estate Commission in AR. The official website of the real estate commission can be searched for the licensed Real Estate Agent. Along with this AREC forms, directions to AREC, fee, exam locations etc can also be checked online in the official website.
Realestatezing.com has also given the contact address of Real Estate Commission in AR that can be contacted for further information or to file any complaint.
Arkansas Real Estate Commission (AREC)
612 Summit Street