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Property management can be a rewarding career with great advancement opportunities. If you are thinking to become a property manager in Arkansas, this is the perfect guide for you!
To become a property manager in Arkansas, an applicant must have a real estate license. The individual can be a “Real Estate Broker” or a “Salesperson” who works under the supervision of a broker. An applicant must be at least 18 years old, complete 60 hours of pre-licensing education, pass the salesperson exam, submit an application, fingerprint card and fees to the Arkansas Real Estate Commission (AREC).
But before you decide to pursue further in this profession, it’s important to know what the role of a property manager is. As a property manager, your duties may include finding and screening prospective tenants for a property, negotiating the lease terms. You could also be responsible for rent collection, property inspection, maintenance, repair, providing updates, and communicating with the property owner.
In this guide, I will focus on the steps on getting a “real estate salesperson” license, which is the entry license level. So you may begin your property management career by joining a licensed brokerage firm. I will also cover the income updates and other FAQs about being a property manager in Arkansas.
But before we start, I want to give a brief disclaimer. This post is not intended as legal advice or state/federal real estate training. It is for general information only. Please always follow your State laws and best practices.
When choosing a real estate school, I prefer one where you could take the courses online. This way, you could study at your own pace whenever and wherever. RealEstateExpress is a trustworthy real estate education provider. You may click here to see whether they offer pre-licensing course in your state. (**)
A Table Summary of Becoming a Property Manager in Arkansas
At least 18 years of age
Have a valid Social Security Number
|60 hours of pre-licensing courses|
18 hours of post-licensing course for first-time licensee
7 hours of CE for subsequent renewals
4 hours of writing time
Consists of General Portion and State Portion
Required passing score is 70 or higher
|Pre-licensing courses – $230 to $380 (approximately)|
AREC fee (including application fee, criminal background check fees) – $86.25
Exam fee- $75
7 Steps to Become a Property Manager in Arkansas
Step 1: Meet the eligibility requirement
- At least 18 years old
- Have a social security number
Step 2: Complete the pre-licensing education
You are required to take 60 hours of pre-licensing course from an approved education provider. The curriculum must include 30 hours in basic principle of real estate.
I just checked with an education provider and the course fee is around $230 to $380.
Step 3: Submit an application to Arkansas Real Estate Commission
To register with the Arkansas Real Estate Commission, you must submit a notarized Salesperson Application within 36 months of completing the pre-license courses and at least 30 days before the exam.
In there, it will ask for your personal details, and some background questions. You also need to provide a pre-licensing course completion certificate, and a document that can prove your age. (i.e. Copy of driver license or birth certificate.)
Since Arkansas Real Estate Commission has the responsibility to protect the public interest, all real estate licensees must go through a criminal history background check. As part of the application process, you will submit a fingerprint card.
There is a $86.25 fee. ($50 application fee, $22 Arkansas criminal background check fee, $14.25 FBI criminal background check fee). You may pay it with a check or money order made payable to AREC.
Once all the required documents are in good order, you may mail them to:
Arkansas Real Estate Commission (AREC)
612 South Summit Street
Little Rock, AR 72201-4740
Once your application is approved, you’ll be provided with a “Certificate of Examination Eligibility”.
Step 4: Pass the Arkansas Real Estate Salesperson Exam
The Arkansas Real Estate Salesperson Exam has 110 questions with 4 hours of writing time. It consists of the General Portion and the State Portion. The required passing score is 70 or higher. It is administered by Pearson Vue and the exam fee is $75.
Here’s an Arkansas Real Estate Salesperson Exam Guide covering a lot more in-depth about this test. Be sure to check it out.
Step 5: Join a licensed property management firm
To activate your salesperson license In Arkansas, you must be affiliate with a principal broker. This is the firm who would sponsor your real estate license.
Keep in mind that not all brokerage provide property management services to their clients. Most brokerages focus only on the buy-sell side of the business. So make sure you find one that specializes in property management.
There are many property companies out there, but not all are suitable for you. As you start in this industry, it will help if you work for a company that could provide you with proper training and mentorship. And you would likely start out working as an assistant to a property manager.
Rather than having you reinvent the wheels, an established property management company can show you a standard procedure in working with clients effectively.
At the time that I’m writing this guide, I can see online job postings looking for property managers.
Here’s a page with a job search engine. You may check whether there is any opening position in your area.
Step 6: Maintain the real estate license
All Arkansas real estate licensee must renew their license every year.
For initial licensee, within 6 months of receiving the Arkansas real estate licensee, you must complete 18 hours of post-licensing courses. The post-license education has a specific set of modules and learning objectives. It is different from the CE requirement.
For subsequent renewals, you need to complete 7 hours of real estate continuing education during each license term.
You may renew the license through the AREC online portal. The renewal fee is $60 which can be paid by a credit card. (i.e., Visa, Mastercard, Discover, American Express)
The Commission may conduct random audits to verify the CE credit. Therefore, it’s better to maintain the CE records and proof of completion documents.
So know your deadlines and don’t wait until the last minute to complete CE and renew your license. Failure to renew on time not only result in late renewal fee, but it can cause interruption to your business.
Step 7: Keep up with the Arkansas real estate laws
In order to be remain competitive in the property management industry, it’s important to keep up with the latest laws and best practices. You may read over the following:
Since you are reading up to this point, I bet you must be interested in becoming a property manager. If that requires you to get a real estate salesperson license in your state, your first step is to complete the pre-license education. You should select one that has an excellent reputation and a long-term track record of satisfying students. RealEstateExpress is exactly that! You may click here to check it out yourself. (**)
Here’s a snippet of what a property manager thinks about this career
I have been handling the management of family investments for 5-6 years now (licensed for a year to take our model public!). I am also a broker and investor myself, having done everything from complete gut rehab flips to buy and hold investments. I have been in the industry for over 10 years…
The biggest piece of advice I can give is to not take things personal. If you do your job correctly, which should be overly defined before you start to manage someone’s investment, then you are just dealing with people reacting to their situation (which can become very personal for them, since it is in their home).
But be polite and direct, don’t tell them what they want to hear, tell them what is actually happening. Also, always remember you are there to make the property owner fiscally happy first and foremost.
– Dan Gallagher, Zebra Cares LLC
Here’s another post I wrote. In there, you can read more on Dan’s thoughts about the property management profession. You can also find out what other property managers say about this career path.
FAQ about being a Property Manager in Arkansas
How much does it cost to become a property manager in Arkansas?
It costs approximately $541.25 to become a property manager in Arkansas. Here’s the breakdown:
- Pre-licensing courses – $230 to $380 (approximately)
- AREC fee (including application fee, criminal background check fees) – $86.25
- Exam fee- $75
The above are the costs of getting the salesperson license. You may also want to invest into exam prep. This can increase your chance in passing the exam on the first try, so that you don’t need to waste time and money in retaking it.
How long does it take to become a property manager in Arkansas?
It takes approximately four months to become a property manager in Arkansas. But it also depends on the time it takes you to complete the pre-licensing course, exam, application, and get sponsorship by a licensed property management firm.
Can a felon be a property manager in Arkansas?
The Arkansas Real Estate Commission will consider the applicant’s honesty, trustworthiness, character and integrity. But whether a felon can obtain a real estate license to become a property manager is subjected to case-by-case evaluation.
But don’t get discouraged as everyone has a past. The most important is that you can demonstrate that you will serve the public in a fair, honest, and open manner.
Here’s another post that covers how to apply for a real estate license with a felony record. In there, you’ll find practical ideas which could help your application.
How do I start my own property management company in Arkansas?
As you developed the necessary skillset, rather than working for someone else, you may consider getting a real estate broker license and start a property management company. This allows you to hire other property managers, thus, lead to a scalable business model.
To obtain a real estate broker license in Arkansas, an applicant must:
- Be at least 18 years and have a valid SSN;
- Have at least 24 months of active real estate salesperson experience;
- Complete 60 hours of prescribed broker classes from an approved provider;
- Pass the Arkansas Real Estate Broker Exam;
- Go through a criminal background check;
- Submit an application and fees to the Arkansas Real Estate Commission
However, running a company is very different from working as an employed property manager. You need to figure out all the different aspects of the business, such as marketing, branding, prospecting, hiring, training, and accounting.
The expenses will also be a lot higher, you need to account for business insurance, staff’s salary and benefits, office rent, furniture, office supplies, software, many more.
I have more questions about being a property manager in Arkansas, whom should I contact?
You may contact the Arkansas Real Estate Commission for more details.
If you want to know more about being a property manager in Arkansas, I invite you to check out the following articles:
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