Respondent(s): Brian Richards, Principal Broker, Richards Commercial Real Estate, Fort Smith, Arkansas, Consent Order #3438
Violation(s): A.C.A. §17-42-311(a)(2) and Commission Regulations 10.4 (b), 10.5(a), (b), and (c)
Sanction(s): Respondent Richards was required to pay a $500.00 penalty within thirty (30) days and must complete the Arkansas Real Estate Commission 45 classroom hour Broker Pre-license course and 30 classroom hour Broker Post-license course.
February 19, 2014, Salesperson Kevin Minks became licensed with Respondent Richards’ firm, Richards Commercial Real Estate. With Respondent’s knowledge, Salesperson Minks managed property for another person for compensation under the name of Preferred Property Management located at 2026 Dodson, Fort Smith, Arkansas.
On December 17, 2015, Respondent Richards allowed Salesperson Minks to advertise property for rent with Preferred Property Management. The website listed Richards Commercial Real Estate as the Broker. Salesperson Minks was not licensed with Richards Commercial Real Estate at the time of this advertisement.