How To Get Real Estate License In Arkansas Becoming a real estate agent in Arkansas offers a competitive and fulfilling career path without the need for a formal four-year education. The requirements for pursuing a real estate agent career can vary by state, including Arkansas. If you’re interested in becoming a real estate agent in Arkansas, understanding the profession and its prerequisites is crucial to your journey. This article outlines the steps to becoming a real estate agent in Arkansas and provides answers to frequently asked questions about the process and profession.
Basic Requirements to Become a Real Estate Agent in Arkansas
To embark on a career as a real estate agent in Arkansas, you should meet the following basic requirements:
- Age: You must be at least 18 years old to practice as a real estate agent in Arkansas.
- Education: Arkansas mandates both pre-licensing and post-licensing education requirements for aspiring agents.
- Passing Exam Scores: Prospective agents must pass required exams to demonstrate their proficiency in the real estate field.
- Payments: Various fees are associated with the application process and licensing.
- Sponsorship: Arkansas state regulations necessitate official sponsorship from a licensed brokerage.
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Steps to Become a Real Estate Agent in Arkansas
Here are the five steps to becoming a licensed real estate agent in Arkansas:
- Complete Pre-Licensing Coursework: Begin by fulfilling the pre-licensing coursework requirement, which entails 60 hours of education before applying. Accredited post-secondary schools or organizations licensed by the Arkansas State Board of Private Career Education offer these courses. Half of these hours focus on real estate principles, while the remainder cover topics like documentation, taxation, and client relationships.
- Submit the Application: It is mandatory to submit an application to the state, which includes providing essential contact information and proof of age. Additionally, you will need to submit an identity verification form, undergo fingerprint testing, and consent to a background check to ensure a clean record before practicing. Proof of completing the 60 hours of education should also be included with your application.
- Pass the Exam: Once your application is approved by the Arkansas Real Estate Commission (AREC), you can schedule and complete the real estate examination at one of the five state locations. While you have up to three years after finishing your education to take the exam, it is advisable to do so sooner to retain key principles. A passing score of 70 is required to pass the exam.
- Select a Broker: Similar to requirements in many states, prospective real estate agents in Arkansas need to choose a sponsoring broker. The brokerage firm will hang and activate your license, signifying your legal ability to practice in Arkansas. Activation within three months of passing the exam is mandatory. It’s important to research different brokers to ensure alignment with your values as an agent.
- Continue Your Education: To continue practicing as a real estate agent in Arkansas, you must complete additional education hours after license activation. This involves completing specific modules as defined by AREC to meet the 18-hour education requirement within your first year. Additionally, registered real estate agents in Arkansas are required to complete seven hours of continuing education annually to maintain their licenses.
- Consider Membership in NAR: You can also explore joining the National Association of Realtors (NAR). By becoming a member of NAR and the Arkansas Realtors Association, you may gain access to the Multiple Listings Service (MLS), which facilitates cooperation with other real estate brokers.
Embarking on a career as a licensed real estate agent in Arkansas involves fulfilling education requirements, passing exams, and securing sponsorship from a brokerage firm. Continuing education is also essential for maintaining your license and staying current in the field. With dedication and commitment, you can thrive in this competitive and rewarding profession in Arkansas.