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(g)(1) No later than three (3) days following the execution of a real estate contract by both seller and buyer, all trust funds delivered to the principal broker, shall be either deposited in the trust account, delivered to an escrow agent, or deposited pursuant to a written agreement by the seller and buyer.
How to File a Complaint. Complaint forms can be obtained from the Arkansas Real Estate Commission or on the Forms & Publications page for download in PDF format. The complaint form will need to be filled out, signed in the presence of a notary public, and the original should be returned to the Commission office.
One of the most common complaints filed against real estate agents revolves around the concept of breach of duty. In this blog, we'll delve into what breach of duty entails, provide examples of actions that could lead to such breaches, and emphasize the potential legal ramifications agents may face.
Any person, including the Director of the Board, may file a written complaint alleging violation of the statues and/or the Rules of the Board Article 15. Such charges shall be in writing, signed by the person or persons making them, and filed with the Board.
When real estate agents (brokers and salespeople alike) first get licensed in Arkansas, they pay a fee of up to $25 to help support the fund. Once they're licensed, they need to renew their licenses yearly, and each time they do, they may have to pay another fee to help support the fund.
How to File a Complaint. Complaint forms can be obtained from the Arkansas Real Estate Commission or on the Forms & Publications page for download in PDF format. The complaint form will need to be filled out, signed in the presence of a notary public, and the original should be returned to the Commission office.
Arkansas's Real Estate Recovery Fund is administered by the Arkansas Real Estate Commission. The fund's primary purpose is repaying members of the public money that they lost due to real estate agents not acting on the up and up.