When you are exploring how to become a real estate agent in Arkansas, it is important to have a plan for your journey. This will help to ensure that you can make the proper plans, as well as know if you meet the minimum requirements. From here, how to become a real estate agent in Arkansas becomes relatively easy.
Before you become a real estate agent in Arkansas, it is a good idea to learn more about career growth and average salary in this state. The median salary for real estate agents in this state is $38,903. There is an average range of $38,005 to $49,484 per year. The projected growth for real estate agent jobs in Arkansas is three percent.
In this state, you can become a real estate agent to sell residential or commercial properties. Before you are eligible to work in this field, there are some requirements and training that you have to complete successfully. When you know the steps to take, you are sure to find how to become a real estate agent in Arkansas far easier.
There are some general requirements that you must achieve to work toward becoming an Arkansas real estate agent. These include:
- The state requires that you show proof of a GED or high school diploma
- You will have to be a US citizen, or you must be a permanent resident alien
- 18 years of age is the minimum to begin a prelicensing program
- Moral turpitude felonies may disqualify you from becoming a real estate agent
- In at least one state, you have to be able to prove that you are a resident
- Any real estate license or license application revocations or rejections in the last two years may disqualify you
If you have a real estate license in another state, or you completed a pre-licensing course of at least 60 hours in certain other states, you may not need to take another course before moving on with the process. Arkansas shares reciprocity with a variety of other US states when it comes to training to become a real estate agent. These states include:
- New York
- South Dakota
- West Virginia
Step One: The Prelicensure Program
The first step in working toward your real estate agent license is to complete the needed coursework to learn the industry and pass your licensure examination. In Arkansas, you must complete a total of 60 hours of coursework to complete this part of the process.
It is imperative that your chosen program is approved by the state of Arkansas. This will ensure that the coursework that you complete is adequate to help you to pass the licensure examination when you are ready to take it.
You can look on the school’s website to determine if it is state approved. There are online schools, such as Real Estate Express, and physical locations that offer this coursework throughout Arkansas. No matter which type of school you choose, there are various classes that you will take.
Your coursework generally starts off with the principles and practices related to the real estate market. From here, you will learn about the finances and related materials associated with real estate. These courses also delve into the laws and guidelines. When you are taking your classes, you will learn about local and national principles and laws, as both of these are tested for when you take your examination for your license.
Approved schools will give you a certificate of completion once you finish all of the coursework successfully. It is important to keep this in a safe place because you will need to provide it when you are applying to take your licensure examination. Make sure that you also have a copy of your transcripts available. These will prove that you completed all of the coursework that the state requires, as well as the necessary hours so that you can sit for your examination.
Step Two: Complete Your Final Course Examination
Once you get to a point in your pre-licensing coursework where you meet the minimum of 60 hours, finish all of the materials associated with the course and successfully pass the program’s practice examination, it is time to take the final exam for your course.
All of the state-approved pre-licensing courses in Arkansas will give you a final examination that consists of 110 questions. This test will cover everything that you learned throughout your pre-licensing course and can give you a good idea regarding how you will fare when you take your licensure test.
You are allowed to take this test as many times as you need to in order to pass it. However, the fewer times the better because the more often you need to take it, the longer it will take to get your license and start working in the field of real estate.
To successfully pass this test, you must achieve at least 70 percent. It is best to take it as soon as possible after you finish the course so that you can remember the material that you covered throughout your course. How long it takes to get your score will depend on the program that you took your pre-licensing courses through.
Step Three: Submit Your Paperwork
Once you get through this exam and pass it, you will have to get your fees and paperwork submitted to the Real Estate Commission in Arkansas. You should do this as soon as you pass because the state only gives you 90 days to submit all of this information.
As part of this process, you will be subject to federal and state criminal background checks. This will include giving your fingerprints so that you can be put into the database. You will need to complete this part of the process whether you are a nonresident or resident of the state.
All background checks are performed by the Arkansas State Police. The federal check is done by the FBI. Once all of this is completed, the fingerprints and information about your background checks will be sent to the Commission in Arkansas.
Make sure that all of the information that you provide on your application is completely accurate and thorough. In addition to the application that you will submit, the following should be included with your packet:
- State background check fee of $22
- Application fee of $50
- FBI criminal background check fee of $14.25
- Your completed fingerprint card
Step Four: The Real Estate License Examination
Pearson VUE proctors the examination for your real estate license. You will go through their website (pearsonvue.com) to schedule it and make your payment. As of March 2020, the fee to take this examination in Arkansas is $75. You will need to provide the certificate of completion from your pre-licensing program and two forms of ID when you are registering to take this test.
As part of the test, there are two sections that you need to complete. You must achieve a 70 percent to pass the examination.
There are 80 questions that are part of the national portion of the test. For the state-specific portion you will have 30 questions to answer. When you are taking the test, you are given a total of four hours to pass.
Due to the time limits, it is best to do some practice tests before taking the real test. This will help you to get a feel for the questions and to create a strategy regarding how long you can take to answer each question.
Step Five: License Application
Once you pass your licensure examination, you are eligible to get your real estate agent license. To get this, you will need to submit proof that you passed your examination. With this, you must also pay a $25 recovery fund fee and a $50 license fee. As part of this packet of information, you also need to provide a post-license requirement notice that is signed.
Keep track of the date that you take the test because all of this information must be sent in within 90 days of that date. If you do not take care of this within 90 days, you must retake the examination and reapply to get your real estate agent license in the state of Arkansas.
Now you know what it takes to become a real estate agent in Arkansas. It is important to double check all of the minimum requirements so that you can ensure that you check all of the boxes. From here, make sure that the prelicensing course that you choose is approved by the state.
Go step by step so that you do not forget to attend to any of the important details. It is ideal to keep this guide handy so that you can quickly refer back to it when you are working through the process. This helps to ensure that you get everything done in order and in a timely manner so that you can start your career as quickly as possible.