Quick Answer: What type of license must an individual planning to open and operate a real estate office in Arkansas hold?

Which individual must hold an active real estate license?

Sales staff must hold active real estate licenses to be paid commission. The sales staff is exempt from licensure if paid strictly on a salaried basis.

What is the purpose of the Arkansas real estate License Act?

Mission Statement and Core Purpose

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.

How do you get your real estate license in Arkansas?

How Do I get my Arkansas Real Estate License?

  1. Step 1: Be at Least 18 Years of Age. …
  2. Step 2: Register for the 60 Hours of Required Education. …
  3. Step 3: Complete Your Fingerprinting and Apply for your Real Estate License Examination. …
  4. Step 4: Take the Arkansas and National Licensing Exam.

Who is exempt from California real estate licensing requirements?

Exemptions to the license requirement include: resident managers of apartment buildings and complexes or their employees; short-term (vacation – only if under 30 days) rental agents; employees of certain lending institutions; employees of real estate brokers for specific, limited functions; certain agricultural …

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What is the salary for real estate agents?

The median annual pay for real estate agents was $48,930 in 2019, according to the most recent data available from the U.S Bureau of Labor Statistics.

How do I know if a real estate agent is legit?

You can verify whether a real estate broker or salesperson is licensed or has been subject to any disciplinary action by visiting California DRE’s Public License Information webpage or by calling the California DRE’s Public Information Line at (877) 373-4542.

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.

Is the Arkansas real estate exam hard?

Remember, the Arkansas real estate exam is hard to pass and over 50% fail the first time. Not only that, but it is expensive to try again. This course has everything you need to pass the first time at a price that is unmatched.

What is the difference between a real estate agent and a real estate broker?

Real estate agents have a professional license to help people buy, sell, and rent real estate. … Brokers are real estate agents who have completed additional training and licensing requirements. They can work independently and hire other real estate agents to work for them.