Ark. Code Ann. § 17-42-101 (2020)
Title
This chapter shall be known as the “Real Estate License Law”.
History. Acts 1993, No. 690, § 25.
Research References
U. Ark. Little Rock L.J.
Owen, Survey of Arkansas Law: Property, 2 U. Ark. Little Rock L.J. 275.
Case Notes
Brokers.
Evidence sufficient to find that nonresident engineering partners had acted as real estate brokers under prior similar provisions without complying with licensing provisions of this chapter. Savo v. Miller, 224 Ark. 799, 276 S.W.2d 67 (1955).
One who, for a monetary consideration, gave to another an option to purchase real estate not owned by the one giving the option and afterward obtained, for a monetary consideration, an option to purchase the real estate from the owner thereof was acting as a real estate broker as that term is defined in prior similar provisions. Phillips v. Ark. Real Estate Comm'n, 244 Ark. 577, 426 S.W.2d 412 (1968).
Where sale of real estate did not occur in seller's real estate office and purchaser never met the seller, but purchaser testified that in agreeing to purchase he relied on the fact that seller was a licensed broker, owning the property being sold, and acting as escrow agent, there was sufficient evidence of purchaser's reliance on seller's status as a broker to invoke real estate commission's exercise of jurisdiction. Eckels v. Ark. Real Estate Comm'n, 30 Ark. App. 69, 783 S.W.2d 864 (1990).
Property Owners.
Where the property sold was jointly owned by partners in real estate partnership, they could not be considered agents or brokers within the meaning of prior similar provisions and thus they did not come within the provisions of former subchapters 1-3 of this chapter. Rothgeb v. Safeco Ins. Co. of Am., 259 Ark. 530, 534 S.W.2d 759 (1976).
Cited: Keahey v. Plumlee, 94 Ark. App. 121, 226 S.W.3d 31 (2006).