How To Become A Real Estate Agent In Arkansas
Let’s take a look at the steps required to become a real estate agent within the State of Arkansas, some of the costs involved, and roughly how long the entire process will take.
How To Get Your Real Estate License in the State of Arkansas
There are several key criteria you have to pass before you can become a real estate agent in the State of Arkansas. These criteria were put in place by the Arkansas Real Estate Commission (AREC), the government agency in charge of licensing and regulating real estate agents within the state. In a nutshell, they include:
- You must be at least 18 years old
- You must have a high school diploma or its equivalent
- Complete all 60 hours of Real Estate pre-licensing classes
- Pass the final exams in your pre-licensing real estate courses
- Complete the Licensing Application
- Schedule your Real Estate Sales Associate Examination
- Pass the Arkansas Real Estate Salesperson Examination
- Apply for a license and find a broker to sponsor you
While all these may seem pretty simple, there are some important aspects that I would like to highlight to make the process as smooth as possible.
Meet the Minimum Age, Education, and Citizenship Requirements
The first part is quite straightforward and applies to most states in the country. Any individual interested in applying for a real estate license within the State of Arkansas must provide proof that they are at least 18 years of age and have a GED, high school diploma, or its equivalent. The individual must also be a U.S. citizen with a valid Social Security Number or a lawfully documented resident within the country. You must also have not been convicted of certain felonies within a particular period.
Complete 60 Hours of Real Estate Pre-Licensing Courses
The next step is to complete 60 hours of AREC-approved real estate pre-licensing courses of which forty-five (45) hours must be the commission-developed Broker Pre-License Education course. This course covers the basic theories and practical concepts that you will need to know as a practicing real estate agent in Arkansas.
These classes are a combination of physical classes and online resources. These classes will be held by experienced real estate professionals at AREC-approved centers.
These courses may seem a bit confusing initially since you are learning an entirely new set of languages and concepts. However, with time and dedication, you’ll easily adapt and find yourself gaining a deeper understanding of the real estate industry.
Click here for our recommended state approved real estate pre-license class: Real Estate Express
Pass the Final Exams in Real Estate Courses
Once you have completed the courses you have to pass the pre-licensing course final examination which focuses on the key areas concerned within the course. Once you have passed this you will be presented with a Salesperson Education Certificate for the course. When applying for your licensing exam you must submit a copy of this certificate to be eligible. This certificate will be valid for 2 years after the course completion date.
Most people rush to finish the material and take the final exams. However, this is not the best way to approach the course. Take your time to ensure that you understand the course material fully and avoid overwhelming yourself with information.
If you fail the exam, you may sit for it again once within a year of the original examination. If you fail again, you will be required to retake the entire course before being eligible to retake the course final exam.
Apply for the Arkansas Real Estate Salesperson Licensing Exam
When applying for the Arkansas real estate salesperson licensing exam several things are required.
- A completed AREC real estate salesperson application form
- Proof of age of majority (i.e.18 years of age) – valid ID, driver’s license, birth certificate, and so on.
- A Criminal Background Check Identity Verification Form
- Proof of completion of 60 hours Pre-Licensing education (i.e. Salesperson Education Certificate)
- The $86.25 application fee which must be a money order or cashier’s check
The first step is filling out the AREC salesperson application form with valid information and attaching the required items such as documents showing proof of age of majority, proof of educational certification (original transcripts only), your Criminal Background Check Identity Verification Form, as well as the required fees (the $50 licensure application fee, $22 Arkansas criminal background check fee and $14.25 FBI criminal background check fee) as a cashier’s check or money order payable to “AREC” in the total amount of $86.25.
Note that you can send your application before completing your licensing education but you will not be issued a Certificate of Eligibility for the licensing exam until proof of completion of the pre-licensing education is provided.
The criminal background check involves providing the AREC with a completed Criminal Background Check Identity Verification Form and the required fees before or while applying for your real estate license. It takes about 3 weeks for the Arkansas State Police Criminal Background Check System to process your fingerprint and draft your criminal history and the service generally costs $22 for the Arkansas criminal background check fee and $14.25 for the FBI criminal background check fee ($36.25 total).
After submitting all this information you will be notified by AREC when your application has been processed. The next step is to proceed to a certified fingerprint harvester for the collection of fingerprints. You will be required to bring 2 forms of identification to the electronic fingerprinting site on the day of scheduled fingerprinting. One of the two types of identification should clearly show your picture and signature such as a driver’s license, state identification card, or passport.
Schedule Your Exam
Once you have applied for your licensing exam, completed the background check and thumbprinting, and received your Certificate of Eligibility from AREC, your next task is scheduling your Arkansas Real Estate Licensure Exams. The exams are handled by Pearson VUE, a national testing company that has been contracted by the state to handle AREC licensing exams.
Once you process your application and pay the examination fee of $75, they will send you an Examination Authorization Form which entitles you to take the exam only one time. You can also obtain more information about the process by reading the Pearson VUE candidate handbook.
There are also dozens of study material and updated preparatory questions that candidates can easily download or purchase from various sources online. These study tools as well which include interactive quizzes and short video content covering key areas which usually appear in the exam.
Pass the Arkansas Real Estate Licensing Exam
You can take the exam at any of the licensed Pearson VUE testing centers in Arkansas. The Arkansas state salesperson exam is divided into two sections of multiple-choice questions, a national section that has 80 questions, and a state section that has 30 questions. The total number of questions is 110 questions which are to be answered in 4 hours. A passing score of 70 percent is required in both sections.
Your score will be displayed immediately after completion of the exams and an official score report with your score and any other diagnostic information will be provided to you. The exam report will also be reported to the Arkansas Real Estate Commission.
You must pass both portions of the exam before moving on to the next steps with your license. If you passed one section of the exam and failed the other you can retake only the section you failed. However, you must pass the section you failed within six months or you’ll have to rewrite both sections of the exam.
Apply for an Arkansas Real Estate License
After passing your licensing exam, it’s finally time to apply for your license. You must submit your application to the AREC within 90 days of passing the real estate salesperson licensing exam. This includes submitting the required documentation and the $75 licensing fee as well.
Find An Arkansas Brokerage To Sponsor You
The last step is to apply for sponsorship with a licensed broker. This involves completing a sponsorship request which may take several months. There are several important things to keep in mind when choosing a broker. They include factors such as:
- Broker reputation
- Mentorship culture
- Commission splits
- Commission caps
- On-going monthly fees, and so on.
Note also that all new salespersons are required to take 18 hours of additional post-licensing education within 6 months of your licensing date. You must take your course hours with an AREC-approved course provider.
If you are interested in learning more about partnering with me at eXp realty brokerage click here to schedule a 30 min zoom call.
In Conclusion
Getting your real estate license in Arkansas is quite easy if you follow all the required steps. The entire process can take 2-3 months and may cost you between $500-$1500 depending on the pre-licensing education center chosen and other factors. However, with hard work and dedication, you’ll be a licensed Arkansas real estate agent in no time.
Does Arkansas have reciprocity with any other states regarding a real estate license?
Arkansas has reciprocity agreements with states that include:
- Alabama
- Colorado
- Georgia
- Louisiana
- Ohio
- Oklahoma
- South Dakota
- Pennsylvania
- Florida
- Iowa
- Mississippi
- Kansas
- New York