Arkansas principal and executive real estate brokers have important management responsibilities under Arkansas real estate law. This course explains the steps brokers can take to establish a real estate firm that is in compliance with the Arkansas Real Estate Commission rules and regulations. The course reviews advertising requirements, trust fund handling as well as developing an office policy and procedures manual, including contracts, documents and transaction management. The course continues with a review of agency relationships and the duties that principal and executive brokers have in managing sponsored licensees.

This course meets Arkansas' six-hour 2023 Supervising Broker Course requirements for license renewal for principal brokers and executive brokers.

Upon conclusion of this course, you should be able to:

• summarize the decisions that should be considered in opening your own brokerage
• illustrate how a company policy becomes a company procedure.
• outline the content of a good policy and procedures manual and how it is applied in management
• create proper document management practices to reduce liability and minimize risk
• explain agency representation duties owed to a client and the Principal Broker's role in agency
• discuss the various management responsibilities of the Principal and/or Executive Broker in regard to ensuring licensee compliance with AREC rules and regulations
• demonstrate an understanding of the Arkansas license laws and AREC's rules regarding owning and managing a real estate brokerage company in Arkansas

Arkansas principal brokers and executive brokers are required to complete this course as part of their annual CE requirement. Associate brokers can also take this course. Individuals with salespersons cannot take the course whether for credit or not for credit. (Arkansas rules)