Arkansas License Law
Under Arkansas law, when must a licensee provide an agency disclosure to a prospective buyer or seller?
AOnly at the time of signing the purchase agreement
BAt the first substantive contact with the prospective client✓ Correct
CWithin 3 business days of first showing a property
DOnly when dual agency is contemplated
Explanation
Arkansas requires written agency disclosure at the time of first substantive contact — the moment meaningful real estate discussions begin — not just at contract signing.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
State-Specific Concepts
License Law
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