AR SB720

Adds definition of "broker's price opinion" to Arkansas Real Estate License Law as an estimate prepared by a licensee detailing probable selling price and providing details about the property's condition, market, neighborhood, and comparable sales information.

Allows licensed real estate professionals to prepare, provide, and collect fees for broker's price opinions for sellers, buyers, third parties performing due diligence, and lienholders.

Prohibits broker's price opinions prepared for lienholders in connection with a buyer's principal residence from being used as the primary basis to determine property value for residential mortgage loan origination.

Authorizes the Arkansas Real Estate Commission to prescribe rules for the preparation and issuance of broker's price opinions.

Grants licensees authority to prepare and provide broker price opinions notwithstanding provisions of related Arkansas Code sections governing appraisals and valuations.