Malt, Robert C

Respondent(s): Robert C. Malt, Principal Broker (Expired License), Malt Realty, Little Rock, Arkansas, Consent    Order #3428

Violation(s): A.C.A. § 17-42-310(a)(1), § 17-42-310(b), § 17-42-311(a)(5) and Commission Regulations 6.3(b), 7.6(a), 10.7(b)(1), 10.7(b)(3), and 10.16(b)

Sanction(s):  Respondent Malt was required to pay a $1,500.00 penalty to the Arkansas Real Estate Commission within thirty (30) days and voluntarily agree to the surrender and revocation of his Arkansas Real Estate License. 

On November 17, 2005, Respondent Malt registered Arkansas Land and Equipment, LLC with the Arkansas Secretary of State and listed Robert Malt whose address is 196 Silverspur Trail, Hot Springs, Arkansas, as the Registered Agent.

On September 13, 2007, Respondent Malt registered Robert Malt Construction, Inc. with the Arkansas Secretary of State and listed Robert Malt whose address is 196 Silverspur Trail, Hot Springs, Arkansas, as the Registered Agent.

On July 22, 2015, The Arkansas Residential Contractors Committee issued a Cease and Desist Order for Arkansas Land and Equiment, LLC (registered with the Arkansas Secretary of State on November 17, 2005, with Respondent Malt as Registered Agent) for violation of Arkansas Residential Licensing Law Code Annotated § 17-25-505, operating without a license. Respondent’s business, Arkansas Land and Equipment, LLC, not Respondent Malt, was ordered to pay a civil penalty in the amount of $292,000. Respondent Malt did not report the imposition of the civil penalty to the Commission within thirty days.

On September 11, 2015, The Arkansas Contractors Licensing Board revoked the Contractor’s License issued to Robert Malt Construction, Inc. (registered with the Arkansas Secretary of State on September 13, 2007, with Respondent Malt as Registered Agent) for violations of Arkansas Contractor’s Licensing Law Code Annotated § 17-25-308 and Regulation 224-25-8(b). A Cease and Desist Order was issued and a civil penalty assessed to Robert Malt Construction, Inc., not Respondent Malt, in the amount of $31,477. Respondent Malt did not report the imposition of the civil penalty to the Commission within thirty days.

Prior to October 8, 2015, Respondent Malt changed the address of Malt Realty from 111 Apple Blossom Court, Hot Springs, Arkansas to 196 Silverspur Trail, Hot Springs, Arkansas. Respondent Malt verbally informed AREC Supervisor Yvonne Halstead of the new address when she scheduled an office visit. Respondent Malt was asked to complete the address change form located on AREC website and send it to AREC with the required fees within thirty days. Respondent Malt failed to do so.

On November 24, 2015, Investigator Sullentrup prepared an Office Visit Report for an office visit made to Respondent Malt’s office by AREC Supervisor Halstead and Investigator Sullentrup on October 8, 2015. Three closed transaction files were reviewed and it was found they did not contain HUD-1 or closing statements. Respondent Malt stated Attorney Skip Davidson closed the transactions and he would obtain the prepared settlement sheets and forward them to AREC. One of the closed transaction files did not contain a Listing Agreement. The three pending transaction files reviewed did not contain a Listing Agreement. Respondent Malt stated he had a "Mass Listing Agreement", but was not able to locate a copy of that agreement. AREC Supervisor Halstead requested Respondent forward the missing information to AREC within thirty days. Respondent Malt did not supply the HUD-1 statements or Mass Listing Agreement as requested.

On November 25, 2015, Investigator Sullentrup mailed a letter to Respondent Malt and requested he provide the missing Settlement Statements and the "Mass Listing Agreement". Investigator Sullentrup also requested notification of the decisions of the Arkansas Contractor’s Licensing Board on July 22, 2015, and September 11, 2015, and a letter of explanation no later than December 7, 2015. Respondent Malt did not reply as requested.

Respondent Malt’s Broker License expired January 1, 2016. On January 28, 2016, a website, www.maltrealty.info included advertisements for properties listed with Malt Realty. The website listed Executive Broker Kris Tortorice and Salesperson Kathy Bonner as licensed with Malt Realty. Executive Broker Tortorice’s license had previously been transferred to Lake Hamilton Realty on April 6, 2015. Salesperson Bonner’s license had previously been transferred to Sperry Van-Ness Ark Best Realty on April 28, 2015. Upon an internet search July 26, 2016, the website, www.maltrealty.info had been removed from the internet.