What is the primary source of law regulating real estate transactions in Arkansas?

The primary source of law regulating real estate transactions in Arkansas is the Arkansas Real Estate License Law. This law outlines the licensing requirements for real estate professionals, the standards they must adhere to while conducting business, and the regulatory framework governing real estate transactions within the state. It establishes guidelines that ensure ethical practices, consumer protection, and professional accountability, which are vital for fostering trust in real estate dealings.

In contrast, while the Arkansas Real Estate Code provides more comprehensive legislation covering various aspects of real estate practices, it does not specifically focus solely on licensing requirements as the Real Estate License Law does. The Arkansas Real Property Act and the Arkansas Civil Code also contain relevant information regarding property rights and legal remedies but are not exclusively focused on real estate transactions in the context of licensing and regulation. Therefore, the Real Estate License Law stands out as the most pertinent source of law specifically governing real estate professionals and transactions in Arkansas.