Arkansas Administrative Code › Agency 076 - Real Estate Commission › Rule 076.00.14-001 - Real Estate Commission Regualtion 4.1 - Applications, Education, Experience

Current through Register Vol. 49, No. 6, June, 2024
SECTION 4.
APPLICATION AND EXAMINATION; EDUCATION AND EXPERIENCE
		  REQUIREMENTS.
Regualtion 4.1
Applications; education; experience.
Applicants for original licensure as a broker or salesperson must
			 apply on forms provided by the Commission, pay the application fee established
			 by these regulations, and meet the following requirements:
(a) Broker applicants must provide proof of
		  the following:
(1) Attainment of the age of
		  majority, which proof may consist of a birth certificate or copy thereof,
		  driver's license, or other document or proof of age which is satisfactory to
		  the Commission;
(2) Successful
		  completion within thirty six (36) months immediately preceding the date of the
		  application of a course or courses of instruction in real estate by actual
		  classroom attendance of which at least forty-five (45) hours are in a course
		  developed by the Commission, for a total of not less than sixty (60) classroom
		  hours. Proof of completion of such education requirement shall consist of the
		  original certificate(s), or certified copies thereof, from the school or
		  organization or other documentation satisfactory to the Commission;
(3)
(A)
		  Service by the applicant of an active bona fide apprenticeship by holding a
		  valid real estate salesperson's license issued by the Commission, or by holding
		  a valid real estate salesperson's license or broker's license issued by the
		  appropriate licensing agency of another state, for a period of not less than
		  twenty four (24) months within the previous forty eight (48) month period
		  immediately preceding the date of application, which proof may consist of the
		  official license records of the Commission or certified copies of licensure
		  records of the appropriate licensing agency of another state, plus such other
		  documentation as the Commission deems satisfactory to demonstrate that the
		  applicant has gained experience in the real estate business equal to that which
		  would be gained by a person engaged in the real estate business on a full time
		  basis during a minimum two year period of time; Listings, sales or other
		  licensed activities may be considered by the commission in determining whether
		  the applicant meets this qualification; Consideration shall be given to the
		  broker applicant's local real estate market and/or specialized area of real
		  estate practice. Any person whose application for broker license is denied by
		  the executive director may appeal such denial to the Commission provided the
		  request is in writing and received in the office of the Commission not later
		  than sixty (60) days following the date of denial by the executive
		  director.
(B) However, pursuant to
		  Section §
											17-42-303(b)(2)
		  the Commission may waive such experience requirement for a real estate broker
		  applicant who has held an active real estate broker's license for a period of
		  not less than eighteen (18) months or who has experience acceptable to the
		  commission in a field considered real estate related for a period of not less
		  than twenty-four months within the previous forty-eight-month period
		  immediately preceding the date of application. Each request for such waiver
		  shall be in writing and shall include such proof as necessary to establish the
		  applicant's eligibility for the waiver. Such proof may consist of the official
		  license records of the Commission, certified copies of license records of the
		  appropriate licensing agency of another state, or such other documentation as
		  the Commission deems satisfactory;
(4) The applicant's affidavit that he/she has
		  no record of unprofessional conduct;
(5) Any other information or documents
		  related to professional licenses held by the applicant; formal disciplinary
		  actions by regulatory agencies; or, pending lawsuits filed or judgments entered
		  against the applicant for fraud, deceit, dishonesty, misrepresentation, or
		  conversion of property including money belonging to another.