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17-42-110. Broker's price opinions.
Arkansas Code — all titles (historical 2020) · legal_authorities
17-42-110. Broker's price opinions.
(a) A licensee may prepare, provide, and collect a fee for issuing a broker's price opinion for:
(1) An existing or potential seller for the purposes of listing and selling real estate;
(2) An existing or potential buyer of real estate;
(3) A third party making decisions or performing due diligence related to the potential listing, offering, sale, exchange, option, lease, or acquisition price of real estate; or
(4)(A) An existing or potential lienholder.
(B) However, a broker's price opinion prepared for an existing or potential lienholder in conjunction with the purchase of a buyer's principal residence shall not be used as the primary basis to determine the value of the buyer's principal residence for the purpose of a loan origination of a residential mortgage loan secured by the buyer's principal residence.
(b) The Arkansas Real Estate Commission may prescribe rules for the preparation and issuance of a broker's price opinion.
(c) Licensees shall have the authority to prepare and provide broker's price opinions pursuant to this section, notwithstanding the provisions of the Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-301 et seq.
(d) A broker's price opinion or market analysis issued by a real estate licensee shall not contain the terms “market value”, “appraised value”, or “appraisal”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-42-110
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:17-42-110
Source file: gov.ar.code.title.17.odt
Pages: Not recorded – Not recorded
Passage SHA-256: dba7dee1c9086f223ba375cfa2db37213f22a123ff10beecd543ac2c2c17b902
Source location: content.xml paragraph 15039
Stored source content
17-42-110. Broker's price opinions.
(a) A licensee may prepare, provide, and collect a fee for issuing a broker's price opinion for:
(1) An existing or potential seller for the purposes of listing and selling real estate;
(2) An existing or potential buyer of real estate;
(3) A third party making decisions or performing due diligence related to the potential listing, offering, sale, exchange, option, lease, or acquisition price of real estate; or
(4)(A) An existing or potential lienholder.
(B) However, a broker's price opinion prepared for an existing or potential lienholder in conjunction with the purchase of a buyer's principal residence shall not be used as the primary basis to determine the value of the buyer's principal residence for the purpose of a loan origination of a residential mortgage loan secured by the buyer's principal residence.
(b) The Arkansas Real Estate Commission may prescribe rules for the preparation and issuance of a broker's price opinion.
(c) Licensees shall have the authority to prepare and provide broker's price opinions pursuant to this section, notwithstanding the provisions of the Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-301 et seq.
(d) A broker's price opinion or market analysis issued by a real estate licensee shall not contain the terms “market value”, “appraised value”, or “appraisal”.
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Arkansas Code — all titles (historical 2020) · legal_authorities
17-14-101. Title.
Section 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-301 et seq. shall be known and may be cited as the “Arkansas Appraiser Licensing and Certification Act”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-14-101
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 17-14-101. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
17-14-201. Composition — Membership — Chair.
(a) There is created the Arkansas Appraiser Licensing and Certification Board, to be composed of ten (10) members as follows:
(1) Seven (7) practicing certified or licensed appraisers as follows:
(A) At least five (5) of the appraiser members of the board shall be state-certified appraisers;
(B) No more than two (2) appraiser members shall reside in the same congressional district of the four (4) Arkansas congressional districts; and
(C) The seven (7) practicing appraiser members shall be representative of the various disciplines found in the appraisal profession, including without limitation residential appraisal, commercial and industrial appraisal, forestry and timberland appraisal, rural appraisal, and any other appraisal discipline that may be affected by the Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-301 et seq.;
(2) One (1) board member shall be a representative of financial institutions familiar with the appraisal process;
(3) One (1) senior citizen representative; and
(4) One (1) consumer representative.
(b)(1) The Governor shall appoint the members of the board subject to confirmation by the Senate and may remove a member for cause.
(2) At least five (5) real estate appraiser members appointed to the board shall be members in good standing of:
(A) A state or regional chapter of a nationally recognized real estate appraisal organization that requires an individual to have qualified appraisal experience, education, and testing in order to become a designated member and to adhere to standards of professional practice in order to retain such a designation; or
(B) The Association of Consulting Foresters of America, Inc., Arkansas Chapt
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-14-201
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 17-14-201. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
17-14-301. Business entities — Eligibility for licensing.
A registration, license, or certificate shall not be issued under the Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-301 et seq., to a firm, corporation, partnership, group, or other business entity.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-14-301
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 17-14-301. This identifies an authority to review, not proof of applicability.