Real Estate Broker

Exam

State + third-party exam

Education

Specific course

Experience

Experience

Background check

Required

Real Estate Brokers represent clients who want to buy, sell, lease real estate or have their rental property managed by a broker. Brokers can be involved with many aspects of the sale and rental of all types of real property including but not limited to residential, commercial, industrial, agricultural, farm or recreational properties. Each real estate firm must have a Principal Broker, or Designated Executive Broker responsible for supervision of the persons licensed with the firm. Some offices have Executive Brokers who assist the Principal Broker in the supervision of the licensees associated with the firm. Requirements: 1) Must be at least 18 years old. 2) Must successfully complete 60 classroom hours of real estate education, 45 hours of which must be the commission developed Broker Pre-License Education course from an accredited postsecondary school or a school or organization licensed by the Arkansas Real Estate Commission, within 36 months immediately preceding the date of application to take the broker's exam. 3) Must have been licensed as an active real estate salesperson or broker for a period of not less than 24 months within the previous 48 month period immediately preceding the date of application. (Other experience may be acceptable.) 4) Must pass the licensure examination. 5) Must complete federal and state criminal background checks. 6) Must submit the proper application forms and fees to the Arkansas Real Estate Commission no later than ninety days after passing the examination. Examination: $75.00, Application fee: $50.00, Original License: $70.00, Annual license fee: $80.00, Recovery fund fee: $25.00 (if not previously paid when the Broker obtained a Salesperson's license), State criminal background check: $22.00, Federal criminal background check: $14.25