Arkansas Real Estate



Cobb, Scott

Cobb, Scott

Respondent(s): Roma Isom Salesperson, and Scott Cobb Principal Broker, First National Realty, Realtors FH: 3765
Violations: 17-42-316(b)(1), 17-42-316(b)(2)(A) and (B), 17-42-311(a)(2), Rule 8.5(a) and Rule 10.4(b)
Sanctions: Scott Cobb - $500 fine and 30 hours broker post-license education
Roma Isom - $2,000 fine and 30 hours of continuing education
Synopsis: The Complainant Buyer attended a first-time home buyers class taught by Respondent Isom and decided to use Isom as her Buying Agent. The contract included the requirement that the Buyer be allowed to choose the contractor for fencing to be replaced on the property. There were additional repairs requested and the Seller agreed to make repairs. Respondent Isom coordinated some of the repairs and the fence project, hiring his business partner’s contracting firm for the work. The Complainant Buyer was not given the opportunity to choose the contractor. After closing, and without confirming the work was completed, Respondent Isom authorized the release of $10,000 held in escrow for repairs. These funds were paid to Isom’s business partner’s firm. The Complainant later received $8,000 back from the contractor.
Recovery Fund Order: As a direct result of these proven violations, the Commission ordered Respondents Isom and Cobb to pay $1,382.76, jointly and severally to the Complainant.

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