Arkansas § 17-42-317 Representing seller or lessor in an agency relationship

Arkansas Statutes

§ 17-42-317 — Representing seller or lessor in an agency relationship

Arkansas § 17-42-317

Title17

This text of Arkansas § 17-42-317 (Representing seller or lessor in an agency relationship) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 17-42-317 (2026).

Text

(a)When representing a seller or lessor in an agency relationship, a licensee shall:

(1)(A) Use reasonable efforts to obtain a purchase or lease offer at a price and with terms acceptable to the seller or lessor.

(B)Unless requested by the seller or lessor, the licensee is not obligated to seek additional offers if the property is subject to a contract of sale, lease, or letter of intent to lease;

(2)Accept delivery of and present an offer to the seller or lessor in a timely manner, regardless of whether or not the property is subject to a contract of sale, lease, or letter of intent to lease;

(3)Within the scope of knowledge required for licensure, but without violating the limits of the licensee's authority:

(A)Answer the seller's or lessor's questions regarding the steps the selle

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(a) When representing a seller or lessor in an agency relationship, a licensee shall: (1) (A) Use reasonable efforts to obtain a purchase or lease offer at a price and with terms acceptable to the seller or lessor. (B) Unless requested by the seller or lessor, the licensee is not obligated to seek additional offers if the property is subject to a contract of sale, lease, or letter of intent to lease; (2) Accept delivery of and present an offer to the seller or lessor in a timely manner, regardless of whether or not the property is subject to a contract of sale, lease, or letter of intent to lease; (3) Within the scope of knowledge required for licensure, but without violating the limits of the licensee's authority: (A) Answer the seller's or lessor's questions regarding the steps the seller or lessor must take to fulfill the terms of a contract; and (B) Provide information to the seller or lessor regarding offers or counteroffers of which the licensee has actual knowledge; and (4) Assist the seller or lessor in developing, communicating, and presenting offers or counteroffers. (b) A licensee does not breach a duty or an obligation to a seller or lessor with whom the licensee has an agency relationship by showing alternative properties to a prospective buyer or by acting as an agent or subagent for other sellers or lessors. (c) This section does not permit a licensee to perform any act or service that constitutes the practice of law.