HB1165 Summary

• Amends Arkansas Code § 17-42-104(a) to add a new exemption (11) to real estate licensing requirements for employees of residential construction companies

• Exempts employees of residential construction companies and affiliated entities (under common ownership) from needing a real estate license when handling transactions for properties owned or leased by their employer

• Requires employees to provide written disclosure to unrelated purchasers that the employee represents only the construction company or affiliated entity and that purchasers have the right to hire their own licensed real estate agent

• Restricts exemption to companies whose primary business activity is not real estate brokering and prohibits employees from providing services to or on behalf of multiple entities not under common ownership