Under Arkansas Real Estate License Law (Ark. Code Ann. § 17-42-101 et seq.), which of the following activities does NOT require a person to hold an active Arkansas real estate license?
Correct Answer
D) An owner selling their own property without the assistance of a licensed agent
Under Arkansas Real Estate License Law, a property owner selling their own property is explicitly exempt from the licensing requirement. The law requires a license when a person acts on behalf of another for compensation. An owner selling their own real estate is acting on their own behalf and therefore does not need a real estate license to do so.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Brokers in Florida have strict responsibilities for managing escrow accounts, including monthly reconciliation and proper handling of trust funds.
FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.
A group boycott is an illegal antitrust practice in which two or more competing real estate businesses agree to refuse to work with a specific person, company, or entity in order to harm that party's ability to compete.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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A Wyoming licensee is reviewing an out-of-state salesperson applicant prepares for testing. What is the best answer?
In Wyoming real estate practice, a salesperson applicant age is reviewed. What should the licensee remember?
A responsible broker in Wyoming asks about a nonresident applicant provides home-state evidence. Which answer follows Wyoming law?
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