How To Become A Real Estate Agent In Arkansas (5 Steps)

If you've ever contemplated joining the ranks of real estate professionals and reaping the rewards of the housing sector, now is the time to act. The future of the real estate market is bright, making today the best time to equip yourself with the knowledge and skills necessary to thrive in one of the most promising industries in the country.

In this guide, we'll unravel why The Natural State is a prime location to kickstart your real estate career and why learning how to become a real estate agent in Arkansas can set you on a path to success. Consider this article your key to unlocking the potential within the Arkansas real estate industry. From eligibility requirements to obtaining your license, we're here to guide you through every aspect of the process.

By the end of this guide, you'll be armed with everything you need to learn how to become a real estate agent in Arkansas, starting with the following:

• Arkansas Real Estate Agent Requirements
• Confirm You Are Eligible To Become A Real Estate Agent
• Complete Your Prelicensing Real Estate Course & Submit To A Background Check
• Apply For & Pass The Arkansas Real Estate Salesperson Exam
• Join An Arkansas Real Estate Broker
• Arkansas Real Estate Broker’s License Renewal
• Pros & Cons Of Becoming A Real Estate Broker In Arkansas
• Arkansas Real Estate Broker FAQ
• Final Thoughts On How To Become A Real Estate Broker In Arkansas

Arkansas Real Estate Agent Requirements

Learning how to become a real estate agent in Arkansas starts and ends with the path orchestrated by the Arkansas Real Estate Commission. If for nothing else, the Arkansas Real Estate Commission has already established a strict set of guidelines aspiring agents must follow to practice real estate within state lines. In doing so, the commission ensures that everyone licensed in their state is competent and well-qualified.

In the following sections, we'll guide you through each crucial step, providing a comprehensive roadmap for anyone aspiring to become a licensed real estate agent in the state of Arkansas:

• Step 1: Confirm You Are Eligible To Become A Real Estate Agent
• Step 2: Complete Your Prelicensing Real Estate Course & Submit To A Background Check
• Step 3: Apply For & Pass The Arkansas Real Estate Salesperson Exam
• Step 4: Join An Arkansas Real Estate Broker
• Step 5: Arkansas Real Estate Broker’s License Renewal

1. Confirm You Are Eligible To Become A Real Estate Agent

The first step before learning how to become a real estate agent in Arkansas is confirming your eligibility. The Arkansas Real Estate Commission has set forth prerequisites that aspiring agents must meet to start on this career path. Here are the eligibility criteria:

• Age Requirement: You must be at least 18 years old to be eligible for a real estate license in Arkansas.
• Education Requirement: A high school diploma or its equivalent is typically a prerequisite, ensuring a foundational level of education.
• Residency Requirement: While U.S. citizenship is not mandatory, applicants must be either legal or U.S. citizens to qualify for a real estate license.
• Background Check Requirement: Applicants are subject to a thorough criminal background check. It's important to note that certain criminal convictions may impact eligibility, emphasizing the importance of a clean legal record.

Ensuring you meet these prerequisites sets the groundwork for a successful journey toward becoming a licensed real estate agent in Arkansas. It's advisable to thoroughly review these criteria and address any potential concerns before proceeding with the next steps in the licensing process. That way, every subsequent step will get you closer to your dream of becoming an Arkansas real estate agent.

2. Complete Your Prelicensing Real Estate Course & Submit To A Background Check

After confirming your eligibility to become a real estate agent in Arkansas, the next step is to immerse yourself in a comprehensive prelicensing real estate course. The Arkansas Real Estate Commission mandates aspiring agents to complete sixty hours of licensing coursework, focusing on fundamental principles and practices. Of the sixty required hours, 30 are explicitly dedicated to the basic principles of real estate. This comprehensive education ensures a solid foundation for your future career. Consequently, courses must be taken at an accredited postsecondary school or an educational institution licensed by the Arkansas Real Estate Commission. This accreditation ensures the quality and relevance of the education you receive. For approved institutions, visit the Arkansas Real Estate Commission’s Education Providers page.

The cost of the pre-licensing coursework will vary, depending on the institution providing it. Colibri Real Estate, for example, offers several packages of its own for students to complete the sixty hours of required education. Depending on the package, taking all the coursework at Colibri can run anywhere from $361 to $642. While there are several choices for exam prep, Colibri is unique in that it will reimburse the original cost of either your pre-licensing package or the exclusive exam prep you purchased if you don’t pass the exam on the first try.

Upon completing the prelicensing real estate course, aspiring agents must submit a salesperson application to the Arkansas Real Estate Commission. This application includes essential information for both State and Federal Background Checks. That said, applicants must undergo a rigorous State and Federal Background Check at this time.

Applicants must submit a $50 application fee, payable through a cashier's check or money order, directly to the Arkansas Real Estate Commission (AREC) to process their application. Simultaneously, candidates will handle the criminal background check fee by making an online payment directly to the Arkansas State Police.

After you have completed the coursework and submitted to a background check, you're poised to progress to the next stage: applying for and ultimately passing the real estate salesperson exam. This exam is the gateway to officially launching your career as a licensed real estate agent in Arkansas.

Read Also: Colibri Real Estate Review

3. Apply For & Pass The Arkansas Real Estate Salesperson Exam

Upon completing the mandatory sixty-hour prelicensing real estate course, the next step in becoming a licensed real estate agent in Arkansas involves applying for and passing the salesperson exam. Aspiring agents must submit a comprehensive salesperson application and $50 to the Arkansas Real Estate Commission. Once the application receives approval, candidates receive authorization to proceed with the exam. Those taking the exam should expect to pay an additional $75 to take the exam.

Anyone looking to take the exam is advised to prepare accordingly. Utilizing study materials and practice exams and reviewing principles and practices covered in the prelicensing course ensures a solid foundation. The exam typically consists of multiple-choice questions to assess candidates' understanding of the real estate principles they learned in the pre-licensing coursework. This examination demonstrates proficiency and readiness to embark on a real estate career.

Post-exam, aspiring agents must promptly submit all required forms and another $50 to the Arkansas Real Estate Commission. It's imperative to note that these documents must reach the Commission no later than ninety days after passing the examination. Adhering to this timeline ensures a seamless transition toward obtaining the official real estate license, marking a significant milestone in becoming a licensed real estate professional in Arkansas.

4. Join An Arkansas Real Estate Broker

Upon securing an official real estate license in Arkansas, the next step is to work with a licensed real estate broker. Working under a broker is not just a requirement by the state’s real estate commission; it's a strategic move that facilitates professional development for new agents.

Finding the right broker is pivotal in shaping a successful career for new real estate agents in Arkansas. Here's a detailed guide on navigating this decision and what to consider when selecting the ideal broker:

• Research & Networking: Begin by researching local real estate brokerages. Attend industry events, network with fellow professionals, and seek recommendations from seasoned agents. Online platforms and professional associations can also provide valuable insights.
• Evaluate Reputation & Track Record: Assess potential brokers' reputation and track record. Look for brokers with a solid reputation for ethical business practices, successful transactions, and positive relationships with their agents.
• Evaluate Company Culture & Values: Consider the company culture and values of the brokerages you are exploring. Choose a brokerage whose values align with yours and foster a collaborative and supportive environment.
• Research Training & Mentorship Programs: New agents benefit significantly from brokerage training and mentorship programs. Inquire about the availability and structure of these programs, as they play a crucial role in your professional development.
• Commission Structure: Evaluate the commission structure and fees of potential brokers. While competitive commission splits are attractive, consider the value you receive in training, support, and resources.
• Technology & Support: Technology and marketing are paramount in the modern real estate landscape. Choose a broker that provides robust technological tools, marketing support, and a solid online presence to enhance your visibility in the market.
• Expertise: Opt for a broker with a deep understanding of the local market. A broker's knowledge of the area, market trends, and property values is invaluable for new agents navigating their first transactions.

Choosing the right broker is pivotal for new agents, setting the tone for professional growth and success in the real estate industry. Considering these factors, you can make an informed decision aligning with your career goals and aspirations. Remember, the right broker will support your journey and help you become the best real estate agent possible.

Read Also: 11 Best Platforms For Your Real Estate Social Network

5. Arkansas Real Estate Broker’s License Renewal

Once you've obtained your real estate license in Arkansas, the journey doesn't end—it evolves. Real estate agents must renew their licenses annually to ensure they know the most up-to-date information and industry changes. To accomplish this, licensees must actively engage in seven hours of continuing education each year, fulfilling renewal requirements put in place by the Arkansas Real Estate Commission.

Continuing education is not just a renewal prerequisite; it's an investment in professional growth. Staying informed about the industry positions real estate agents to navigate the market confidently, demonstrating a commitment to excellence in their field.

Much like the pre-licensing coursework, continued education can be taken at several educational institutions. Colibri, for example, offers the seven-hour course for $89.

*For in-depth training on how to become a real estate agent in Arkansas, Real Estate Skills offers extensive courses to get you ready to make your first investment! Attend our FREE training and gain insider knowledge, expert strategies, and essential skills to make the most of every real estate opportunity that comes your way!

Pros & Cons Of Becoming A Real Estate Broker In Arkansas

Understanding the pros and cons of being a real estate agent in Arkansas is crucial for aspiring professionals to make informed decisions about their career path. By delving into the advantages and potential challenges, individuals can weigh the rewards against the demands of the industry. In the next couple of sections, this guide will explore the pros and cons, offering valuable insights to make the best decision for your future.

Benefits Of Becoming A Real Estate Agent In Arkansas

Learning how to become a real estate agent in Arkansas has become synonymous with the following benefits:

• Lucrative Opportunities: Becoming a real estate agent in Arkansas opens the door to lucrative opportunities in a thriving market, providing the potential for substantial income through property transactions and their respective commissions.
• Flexibility & Independence: Real estate agents in Arkansas enjoy flexibility and independence, fostering a work-life balance tailored to individual preferences.
• Continuous Learning: The profession demands continuous learning through annual continuing education, ensuring agents stay updated on industry trends, legalities, and market dynamics, enhancing their expertise.
• Networking & Growth: Affiliation with a reputable real estate broker facilitates networking opportunities, fostering professional growth as agents connect with industry experts, potential clients, and fellow professionals in Arkansas.

Drawbacks Of Becoming A Real Estate Agent In Arkansas

Learning how to become a real estate agent in Arkansas has become synonymous with the following drawbacks:

• Income Variability: The income of a real estate agent in Arkansas can be variable, dependent on market conditions, property sales, and economic factors, leading to financial uncertainty.
• Self-Employment Costs: While enjoying independence, real estate agents bear the costs of being self-employed, covering expenses like marketing, transportation, and technology, impacting their overall income.
• Competitive Market: Arkansas has a competitive real estate market, requiring agents to navigate fierce competition, stand out, and continuously adapt to changing dynamics to secure clients and transactions.
• Workload & Time Commitment: Real estate agents often face a demanding workload and time commitment, with irregular hours, weekend work, and the need to be available for client needs, potentially impacting work-life balance.

Arkansas Real Estate Broker FAQ

Learning how to become a real estate agent in Arkansas often sparks many questions. This FAQ section addresses aspiring professionals' most frequently asked queries about the process. Explore these insights to simplify the complexities of the real estate industry and gain the confidence to kickstart your career.

How Much Does An Arkansas Real Estate Salesperson License Cost?

Becoming a licensed real estate agent in Arkansas involves several costs, including pre-licensing coursework ranging from $361 to $642. Additionally, applicants must cover a $50 background check fee, a $50 exam application fee, and a $75 exam fee. Upon completing the exams, there is a $50 license application fee.

It's important to note that acquiring an Arkansas real estate license is an ongoing investment, with an annual continued education cost of $89/year to stay updated on industry trends and maintain licensure. When tallied, these costs add up to anywhere from $586 to $867 in the first year. After that, consider the annual renewal fees for each year you are licensed.

How Long Does It Take To Get A Real Estate Salesperson License In Arkansas?

Getting your real estate license in Arkansas usually takes a few months. You'll need to dedicate some time to complete a 60-hour prelicensing course, and then there's the prep for the exams, application processing, and background checks—it all adds up. So, plan for a timeframe that spans a few months to a year (or more) to kickstart your real estate career in Arkansas.

How Much Do Real Estate Agents In Arkansas Make?

According to data from Indeed, the average salary for real estate agents in Arkansas falls within a wide range, typically from $49,842 to $168,616. However, the median or average salary for a real estate agent in the state is reported to be around $91,674. It's important to note that individual earnings can vary based on factors such as experience, location, and the current state of the real estate market.

Final Thoughts On How To Become A Real Estate Broker In Arkansas

Learning how to become a real estate agent in Arkansas involves several crucial steps, from confirming eligibility and completing prelicensing coursework to applying for exams, joining a broker, and embracing continuous education. While the process may not be a walk in the park, the potential rewards are substantial. The average salary for real estate agents in Arkansas underscores the lucrative possibilities in this dynamic field. As agents navigate the challenges and seize the opportunities, the prospect of a fulfilling and financially rewarding career awaits those who stay committed to the path.

Ready to take your real estate career to the next level? Contact Real Estate Skills today and unlock the full potential of your real estate ventures. Our experts are here to provide guidance, resources, and strategies to help you thrive in the real estate investing industry. Don't miss out on this opportunity to enhance your skills and boost your success. Get in touch with us now and elevate your career in real estate.