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In the United States, real estate agents are at a key point in time. With more and more people moving into urban environments that have been neglected for decades, there is an increasing demand for licensed professionals to help them buy or sell their property. Real estate agent jobs offer flexibility and allow you to work from home, so it’s no wonder why many people want to become one.
Completing 60 hours of Arkansas Real Estate Commission (AREC)-approved education, a background check, passing the Arkansas real estate test, affiliating with a sponsoring agency, and applying are all steps in the process of becoming a real estate agent in Arkansas. While it may seem to be a massive task, it is really rather straightforward if you know what steps to follow. Follow our step-by-step instructions to get your Arkansas real estate license and begin your professional career in the Land of Opportunity.
1. Comply with Arkansas’ legal requirements for becoming a real estate agent.
The state of Arkansas has straightforward standards for licensing. To begin, you must be at least 18 years old and a legally admitted U.S. resident. As part of the Arkansas state criteria for becoming an agent, you must receive a background check and fill out an application to see whether you have any past legal issues or convictions that would prevent you from becoming licensed.
If the applicant has an Arkansas real estate license, the AREC determines whether the crime committed would be harmful to the public. Because each situation is unique, the AREC reviews each application and considers it on a case-by-case basis.
What if I told you that License reciprocity exists between Arkansas and 16 other states you must get fingerprint clearance, pass the state component of the test, and submit the licensing application, fee, and Client Waiver Form to become licensed. Check out the AREC website’s Reciprocal States section for a complete list of criteria.
In terms of mobility, Arkansas is also a physical state. Agents and brokers from other states are welcome to do business in Arkansas, but they are not permitted to enter the state for the purpose of executing real estate transactions. They must do it remotely, and they are not permitted to enter the state for any purpose, including showings, closings, or any other cause.
2. Complete all pre-licensing courses that are required.
After you’ve decided that you fulfill the state’s license standards, the next step is to complete the 60 hours of study necessary to become an Arkansas real estate agent. The AREC requires you to complete lessons in person or at a recognized online real estate school, which typically costs between $325 and $450. The following are some of the themes covered:
- Ownership, transfer, and documentation of title
- Appraisal and property value
- Contracts and agency in real estate
- Practicing real estate
- Environmental concerns and property disclosures
- Settlement and financing
- Calculations in real estate math
- The real estate commission’s responsibilities and powers
- Requirements for obtaining a license
- Licensees’ actions
- Other legal duties
- Relationships between agencies and disclosures
In as little as two months, you may complete the needed pre-licensing courses at the National School of Real Estate. Choose from in-person or livestream classes on their site, as well as self-paced courses via The CE Shop, an affiliate partner. To accommodate your busy schedule, Livestream classes are offered on weekdays and weekends. Additionally, as part of their course bundles, they will file your fingerprints and paperwork.
3. Obtain an Arkansas real estate license.
Unlike other jurisdictions where passing the state real estate test is required before applying for a license, Arkansas requires you to submit and process your application first. To do so, send a cashier’s check or money order for $86.25 to the AREC, which includes the $50 application charge, $22 state criminal background check fee, and $14.25 FBI criminal background check fee.
Application processing typically takes five to ten business days, following which candidates get a Certificate of Examination Eligibility. Furthermore, the application form must be submitted by the AREC at least 30 days before the examination, and it is only valid for one year following the application date.
4. Get Fingerprinted & Complete the Background Check
The AREC will send you a Background Payment Confirmation Form with a Transaction Control Number via email or mail when your application and CBC form have been completed. It’s critical to get started on this procedure as soon as possible since the AREC may take up to three weeks to obtain your background check once your fingerprints have been submitted.
To have your fingerprints collected, take a copy of the Background Payment Confirmation Form to a fingerprint harvester or a Live Scan operator. See the location possibilities here to select a harvester or operator, and choose the one that is most convenient for you. The transaction number will be used to ensure that your fingerprints are returned to the AREC.
The harvester or operator should complete the “Fingerprint Harvester/Live Scan Operator Information” section of the Background Payment Confirmation Form and return it to you after you’ve been fingerprinted. The Background Payment Confirmation Form must then be returned to the AREC through email, fax, or mail. The background check should be conducted within six months of the AREC receiving the Application for Real Estate License Examination.
5. Take the Real Estate Exam in Arkansas
You must pass both the national and state portions of the test, which is taken on a computer and given online. The results are presented in a pass/fail format immediately after the testing. If you pass, you’ll be given instructions on how to submit your application to become an Arkansas real estate agent. If you fail, you’ll get a diagnostic report outlining your strengths and shortcomings, which you can use to prepare for your next try.
You have 24 hours after your first try to reschedule the licensure test. Fortunately, if you fail any component of the Arkansas real estate test, whether national or state, you will have unlimited chances to retake that section of the exam within a six-month period.
Exam Specifics
How to Plan for Your Exam
You’ll get your Certificate of Examination Eligibility after you’ve provided the essential information for the application, fingerprints, and background check, and you’ll be able to schedule your exam. The official administrator of the Arkansas real estate exam is Pearson VUE, a multinational testing corporation.
You may schedule the test directly on the Pearson VUE website, and you’ll get a copy of the Candidate Fact Sheet with further details. Pay the $75 test cost with a credit card, debit card, electronic check, or voucher on the Pearson website.
Nearly half of those who take the Arkansas real estate test fail, so being well-prepared with high-quality prelicensing education and exam prep is your best shot of passing.
PrepAgent’s products, like flashcards, vocabulary sheets, live online webinars, and more, help you reinforce your prelicensing knowledge. To start your career and be successful in real estate, choose from a variety of tiered packages that meet your learning style.
6. Decide which brokerage firm you want to work for.
You must locate a sponsoring brokerage with which to join in order to become a real estate agent in Arkansas with an active license. To activate your license, you and your brokerage must fill out the Real Estate License Activation Form and pay a $30 fee.
Cities in Arkansas with the Highest Median Real Estate Sales Price
In order to decide where you’d want to conduct company, you’ll need to have current market information about Arkansas communities.
7. Begin Your Professional Career
You’re ready to begin your career as a real estate agent in Arkansas now that you’ve learned how to do so. On our website, you’ll discover a number of articles with real estate marketing and lead-generating suggestions.
Frequently Asked Questions
How long does it take to get a real estate license in the state of Arkansas?
It takes about a year to acquire an Arkansas real estate license.
How hard is the Arkansas real estate exam?
The real estate exam in Arkansas is relatively easy. It consists of a multiple choice test that has 250 questions and 6 hours to complete.
How much does a real estate license cost in Arkansas?
In Arkansas, it can cost anywhere from $5,000 to over $100,000 depending on the size of your property.
