For years, our board has worked hand-in-hand with the Arkansas REALTORS® Association and the Arkansas Real Estate Commission to educate our members. We pride ourselves in protecting our clients and all members of the public in real estate transactions. For many, the purchase of a home is the single largest investment made during a lifetime. Our members ensure that our clients are well-informed regarding real estate and make sure that all safeguards are followed. HB 1165 will allow individuals to market and sell homes with no licensing, no training, and no safeguards whatsoever.
If our members violate rules or laws, they may be held accountable to this Board, the Arkansas REALTORS® Association, and the Arkansas Real Estate Commission. Members who make mistakes or mislead the public are either educated through mandatory programs or quickly lose their license. In this way, our Board and other Boards across the state ensure that the public is protected. HB 1165 exempts individuals from these safeguards. If HB 1165 becomes law, no Board or Commission will have authority or jurisdiction to monitor or sanction non-licensed persons. Further, these persons will be exempt from the ethical and educational requirements required of licensed real estate agents.
As Realtors, we believe the protection of the public is our highest obligation. HB 1165 effectively removes the protections and safeguards we have worked to enforce for many years.
We oppose HB 1165 because the bill attempts to remove statutory protections for home buyers and the general public.