Arkansas Real Estate

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CLOSING EARLY So often AREC staff are asked whether licensed agents must secure a written agreement signed by all parties every time a buyer and seller decide to close earlier than the date specified in the sales contract. AREC will not routinely consider it a violation if a licensee does not secure a signed statement by both …

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RETENTION RATES FOR NEW LICENSEES by Gary Isom, Executive Director, Arkansas Real Estate CommissionDecember 2014 A broker once said to me that real estate was one of the last professions whereby a person of limited means with no specialized training or college degree could establish a highly successful career through intelligence and hard work. There …

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A NEW ERA FOR ARKANSAS REAL ESTATE EDUCATION by Gary Isom, AREC Executive DirectorApril 8, 2014 This article originally appeared on www.arkansasrealtors.com. With the support of the Arkansas REALTORS Association® (ARA), the 2013 Legislative Session brought changes that will improve real estate education for years to come. The Commission expresses its appreciation once again to the ARA …

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FRANCHISE NAMES NOT SUFFICIENT FOR YARD SIGNS By Gary Isom, Executive Director of the Arkansas Real Estate Commission Commission Regulation 10.5 states :(a) A licensee may not advertise any property, including the licensee’s own property, for sale or rent, or display a real estate sign without including in that advertisement or sign the name of the …

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BROKERS DISAGREE OVER BROKER FEE DISCLOSURE By Gary Isom, Executive Director of the Arkansas Real Estate Commission So, the day before closing, the seller’s broker discovered that his seller would be paying a fee to the buyer’s broker for professional services rendered. The buyer had agreed to pay this fee to his buyer broker through …

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EXPECTATIONS GROW GREATER FOR BROKER FEE DISCLOSURE From the Arkansas Real Estate Commission A case heard by the Commission on Monday, June 8, 2015, will likely increase expectations for brokers representing buyers to disclose fees the buyer’s broker will receive through seller concessions. Following the hearing, the Commissioners were concerned that their decision not to …

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AGENTS & BROKERS REQUIRED TO PRESENT ALL OFFERS TO SELLER By Gary Isom, Executive Director of the Arkansas Real Estate Commission     One of the more frequent complaints filed with the Arkansas Real Estate Commission concerns the presentation of offers for real estate.    It’s fairly common for buyers whose offer was not accepted …

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ABSOLUTE ACTION By Gary Isom, Executive Director of the Arkansas Real Estate Commission The Arkansas Real Estate Commission began working with the Arkansas Auctioneers Association in 2011 to address some problematic issues involving real estate auctions. The Association’s members noticed that auctions were all too often being advertised as “absolute auctions” only to be converted …

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WHAT DOES THE TERM “TEAM” REALLY MEAN TO BUYERS AND SELLERS? By Gary Isom, Executive Director of the Arkansas Real Estate Commission A few years ago, a new trend developed in the real estate business. Salespersons in real estate firms began referring to themselves and select associates who may or may not hold real estate …

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