Beyond Bending Tell You How
Obtaining a real estate license in Arkansas can be a great way to start a new career or to expand your existing one. As a licensed professional, you will have the opportunity to help buyers and sellers navigate the complex world of real estate transactions, and earn a good income while doing so. However, before you can start working as a real estate agent in Arkansas, you need to obtain a license from the Arkansas Real Estate Commission (AREC). In this guide, we will walk you through the steps you need to take to become a licensed real estate agent in the state of Arkansas.
Before we dive into the details of how to get a real estate license in Arkansas, let’s take a closer look at what real estate agents do and why becoming one might be a good career choice for you.
What Does a Real Estate Agent Do?
A real estate agent is a licensed professional who helps buyers and sellers with real estate transactions. Some of the typical duties of a real estate agent include:
- Listing properties for sale or rent
- Showing properties to prospective buyers or renters
- Negotiating sales contracts and lease agreements
- Facilitating property inspections and appraisals
- Providing advice and guidance to clients on real estate matters
Real estate agents may work for themselves or for a brokerage firm. They typically earn a commission on the sale of a property, which is a percentage of the sale price.
Why Become a Real Estate Agent?
There are many reasons why becoming a real estate agent might be a good career choice for you. Some of the benefits of working in this field include:
- Flexible work schedule: Real estate agents have the freedom to set their own schedules and work as much or as little as they want.
- High earning potential: Real estate agents can earn a good income, particularly if they are successful in closing deals.
- Opportunities for growth: Real estate agents can advance in their careers by building a strong client base and developing their skills and expertise.
- Helping people: Real estate agents have the opportunity to help people find their dream homes or sell their properties quickly and for a good price.
If you are interested in pursuing a career in real estate, the first step is to obtain a license from the Arkansas Real Estate Commission.
Step 1: Meet the Basic Requirements
Before you can apply for a real estate license in Arkansas, you need to meet some basic requirements. These include:
- Be at least 18 years old
- Have a high school diploma or GED
- Be a legal resident of the United States
- Not have any felony convictions
If you meet these requirements, you can move on to the next step.
Step 2: Complete the Required Education
In Arkansas, you are required to complete 60 hours of pre-licensing education before you can apply for a real estate license. The education must be completed through an approved provider and cover topics such as:
- Real estate principles and practices
- Real estate contracts
- Property ownership and transfer
- Real estate finance
- Real estate appraisal
You can find a list of approved education providers on the AREC website. Once you have completed the required education, you will receive a certificate of completion.
Step 3: Pass the Licensing Exam
After you have completed the required education, you need to pass the Arkansas real estate licensing exam. The exam is administered by Pearson VUE and consists of 140 multiple-choice questions. You must score at least 70% to pass the exam.
You can schedule your exam through the Pearson VUE website. The fee for the exam is $75.
Step 4: Apply for Your License
Once you have passed the exam, you can apply for your Arkansas real estate license. You will need to submit the following documents to the AREC:
- Completed application form
- Certificate of completion from an approved education provider
- Proof of passing the licensing exam
- Criminal background check
- Fee of $75
The AREC will review your application and, if everything is in order, issue your license.
Step 5: Find a Brokerage Firm to Work With
After you receive your real estate license, you need to find a brokerage firm to work with. In Arkansas, you cannot work as a real estate agent on your own; you must work under the supervision of a licensed broker.
You can find a list of licensed brokerage firms on the AREC website. Contact the firms that interest you and ask about their policies and commission structures. Once you have found a firm you are interested in working with, you can apply for a position.
Step 6: Build Your Client Base
Once you have joined a brokerage firm, it’s time to start building your client base. You can do this by:
- Networking with other professionals in the industry
- Marketing yourself through social media, advertising, and other channels
- Attending real estate events and conferences
- Providing excellent service to your clients to generate referrals
Building a strong client base takes time and effort, but it’s essential to your success as a real estate agent.
Conclusion
Obtaining a real estate license in Arkansas is a straightforward process that requires completing the required education, passing the licensing exam, and submitting an application to the Arkansas Real Estate Commission. Once you have your license, you can start working with a licensed brokerage firm and building your client base. If you are interested in pursuing a career in real estate, take the first step by meeting the basic requirements and enrolling in a pre-licensing education program today.
People Also Ask
How long does it take to get a real estate license in Arkansas?
The amount of time it takes to get a real estate license in Arkansas depends on how quickly you can complete the required education and pass the licensing exam. Typically, the process takes several weeks to a few months.
How much does it cost to get a real estate license in Arkansas?
The cost of obtaining a real estate license in Arkansas includes the fees for the pre-licensing education, the licensing exam, and the application fee. In total, you can expect to spend around $500 to $700 to obtain your license.
Do I need to be sponsored by a broker to get a real estate license in Arkansas?
No, you do not need to be sponsored by a broker to get a real estate license in Arkansas. However, you cannot work as a real estate agent on your own; you must work under the supervision of a licensed broker.
How often do I need to renew my real estate license in Arkansas?
In Arkansas, real estate licenses are valid for two years. To renew your license, you must complete 18 hours of continuing education, including six hours of core courses, before your license expires.
