Real Estate in Paragould Arkansas - PDF

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					                                                             AR K AN S AS
                                REAL ESTATE COMMISSION
                                 N         E         W          S         L        E         T         T         E        R

                                 FROM THE DESK O F
  November 2005                      T HE E XECUTIVE D IRECTOR...

    Real Estate Commission     NEW COMMISSIONER APPOINTED
   612 South Summit Street
   Little Rock AR 72201-4740      Sylvester Smith of North Little Rock was appointed by
      Phone: 501-683-8010      Governor Huckabee to serve a three-year term on the
                               Arkansas Real Estate Commission.
        FAX: 501-683-8020
                                  Sylvester Smith was raised in Camden, a small town in
                               South Arkansas. He attributes his success as an effective
       Administration:         communicator to his seventh grade English teacher, Mrs.         Taylor, who’s traditional; no nonsense mentoring and
        Investigations:        corrective ways enabled him to develop a strong work ethic.             Sylvester Smith, III       Sylvester firmly believes in the African proverb, “it takes a
          Licensing:           village to raise a child” and it is the positive contribution his community made in his life that       helped to make him the man he is today.
                                  At the age of nineteen, Sylvester was appointed by Governor Jim Guy Tucker to Chair
         Web Site:             the Governor’s Commission on Youth Violence Prevention. Two years later, he served on      the Common Ground Board, a committee that oversaw the dispersal of $3,000,000 in grants
                               for the prevention of youth violence. He has served as president of the Camden Branch of
                               the NAACP, and 1994, as speaker for “Earth Train”; he took a 20-day speaking tour of the
                               west coast with stops in Seattle, Compton, Los Angeles, and San Francisco.
                                  Sylvester graduated from Camden Fairview High and has a BA in Management from
     Debbie Rawls, Chair       Philander Smith College.
         Paragould                In 2001, Governor Mike Huckabee bestowed upon Sylvester the honor of working as his
                               Policy Advisor for Minority Affairs and Delta Issues. In this position he advised the
  Doug Smith, Vice Chairman    Governor on legislative and political issues relating to Arkansas’ minority population and
        Little Rock            delta development. He has also served on the Arkansas Minority Business Development
                               Roundtable, and the Lower Mississippi Delta Development Center’s board of directors.
          Ina Martin           Sylvester currently serves on the Arkansas Transitional Employment board, which manages
          Russellville         the state’s welfare to work program, as Governor Huckabee’s alternate on the Delta
                               Regional Authority Board of Directors, which oversees the multimillion dollar federal delta
          Roy Rainey           development initiative, and is a member of the Arkansas Real Estate Commission.
          Little Rock             On November 11th, 2003 the Governor asked Sylvester to take on the duties of Deputy
      Sylvester Smith, III     Director in his Washington, D.C. office. During this tenure Sylvester’s responsibilities
                               included managing the office, serving as a lobbyist for the State, and helping craft policies
       North Little Rock       and procedures for state agencies.
                                  Most recently Sylvester has been asked to come back to Arkansas and serve as the
                               Arkansas Department of Economic Development’s Director of Small and Minority
  COMMISSION STAFF             Business Development. In this capacity he and his team help Arkansas entrepreneurs
                               establish and expand businesses in the state. In this capacity he created a one day
     Bill J. Williamson        business management training called the Small Business University to help entrepreneurs
     Executive Director        learn how to start and run small businesses.
        Gary C. Isom              He is a graduate of the University of Arkansas Cooperative Extension Services’ Leader-
                               ship Arkansas program. And he and seven other Americans just returned from Eastern
  Deputy Executive Director

                                                                                                      CONTINUED ON PAGE 2
November 2005                                                                                                                 1

Europe as part of a leadership program                 2. Regulation 7.4                                 Arkansas Real Estate Commission at 612
sponsored by the American Council of                  Branch Office                                      South Summit Street, Little Rock, Arkansas
Young Political Leaders. He is particu-                                                                  72201-4740 to the attention of Jo Harding.
                                                           This Regulation
larly proud of this accomplishment,                   was amended to
because he was one of eight delegates                 implement Act 561
selected out of a pool of 1000 nominees               of 2005 which                                      Staff Changes
from across the country.                              authorizes principal                               Senior Investigator Kay Lucy has retired
                                                      brokers to designate executive brokers to          after working at the Commission for 19
                                                      supervise licensees at a Branch Office.            years. Kay will spend her retirement
Commission Adopts                                     The amendments also clarify executive              traveling and playing with her grand-
                                                      broker’s responsibilities regarding supervi-       daughter. We wish Kay a long and happy
Regulations                                           sion of licensees at the branch office and         retirement.
The following regulations were recently               deletes confusing requirements concern-
                                                      ing “place of business” and the geographi-         Jo Harding has been promoted to the
adopted by the Commission to implement                                                                   position of Administrative Assistant to the
Legislation passed in 2005.                           cal location requirement. This change to
                                                      Regulation 7.4 will be effective November          Executive Director and Deputy Executive
   1. Regulation 4.1 Applications; Educa-             1, 2005.                                           Director. Jo previously held the position
tion; Experience                                                                                         of Examiner.
                                                         3. Regulation Section 15 Real Estate
     This Regulation was amended to                   Auction Definitions and Requirements
implement Act 657 of 2005 which authorizes                                                               Principal & Executive Brokers
the Commission to require State and Federal                 This is a new Regulation to implement
FBI criminal history background checks for            Act 1173 of 2005 which authorizes the                -Make Sure Your New Associ-
applicants for a real estate salesperson or           Commission to establish procedures by                 ates Fulfill Their Post-License
                                                     regulation for real estate licensees to follow
broker license.                                      when conducting real estate auctions. The              Education Requirements!
 The criminal background check will require          regulation defines auction terms; requires a
the taking of fingerprints and the applicant         written agreement with the owner of the                Principal and Executive Brokers, picture
                                                     real estate to be auctioned; and establishes        this scenario. You’ve just sent that new
will be responsible for payment of any fee
required. If an applicant is denied a license        disclosure requirements for real estate             licensee who came to work for you about
based on a criminal Conviction the                   licensees who sell real estate at auction.          12 months ago to list a new property or
                                                     This new regulation will be effective               present an offer. You sit down in your
applicant can request a hearing before the
Commission. This change to Regulation 4.1            November 1, 2005.                                   office and begin to review today’s mail.
will be effective January 1, 2006.                   If you would like a copy of the regulations         You see a letter from the real estate
                                                     please send your written request to the             commission. This peaks your interest. To
                                                                                                         your surprise, it just happens to have the
                                                                                                         name of that new licensee identified on the
                                                                                                         SUBJECT line. As you begin to read the
                                  AREC - Who to Call                                                     letter, you realize that you have just sent
                                                                                                         an inactive licensee out to perform a real
  When calling AREC, real estate licensees may find it more efficient to call one of our associates      estate activity. That’s because that new
  directly rather than using the general information number published in most directories. For each      licensee either 1) forgot all about complet-
  of the following areas, we suggest you call the person listed so that we can hopefully provide more    ing that post-license course they were
  efficient service.                                                                                     required to do, or 2) the licensee completed
                                                                                                         the course, but then put the certificate of
  General licensing and education requirements        -Sandria Smith - 501 683-8017
                                                                                                         completion in a drawer somewhere,
  Publications and Supplies                            email:                 thereby failing to notify the real estate
                                                                                                         commission that they had completed the
  Investigation & License Law Regulation Questions -Randy Brown - 501 683-8040                           course. Consequently, their license has
                                                    email:                      now been placed on inactive status. As
                                                   -Rick Stanley - 501 683-8041                          you know, inactive licensees cannot
                                                    email:                     perform real estate activities that require a
                                                                                                         license. So what do you do? Well, let’s
                                                                                                         just not let it happen in the first place.
  Requests for AREC speakers, etc.                    -Gary Isom       - 501 683-8016                    Every new licensee has to complete a post-
  License Law & Regulation Questions                   email:                     license education course within 12
  Real estate course or provider issues                                                                  months of obtaining their license. Then,
  AREC Newsletter related issues                                                                         we highly suggest that they send a copy
                                                                                                         of the completion certificate to the
  For more specialized questions regarding a license transaction you have submitted or for complaint     Arkansas Real Estate Commission, so that
  activity in which you are involved, AREC correspondence will usually identify the specific associate   we will know that they have completed the
  for you to contact along with their direct telephone number. If we’re not immediately available,       course. Once that’s done, you don’t have
                                                                                                         to worry about getting that letter from the
  please leave a message on our voice mail and we’ll return your call as timely as possible.
                                                                                                         real estate commission. We save the
                                                                                                         postage and you get to relax.

 November 2005                                                                                                                                      2

   The following information
   is extracted from Findings               was commercial land and had com-            Realty. 4) Respondent’s conduct
                                            mercial potential when; in fact, the        during the period from March 2003
   of Fact, Conclusions of                  property was zoned for residential use.     through April 30, 2004 as set forth
   Law and Order which were                     A Recovery Fund Hearing was             above, of controlling the trust account
   issued for Hearings con-                 held, Pursuant to Arkansas Code             for Anchor Realty and issuing or
   ducted by the Commission                 Annotated §17-42-40l et seq., the           causing to be issued checks which
                                            Commission ordered Ms. White to pay         exceeded the balance in said trust
   from May 2005 through                                                                account and incurring overdraft and
   August 2005. Formal                      the Complainants damages in the
                                            amount of $667.00.                          insufficient funds charges, and issuing
   Hearing Decisions that                                                               multiple checks on said trust account
   have been appealed are not                                                           payable to himself that were not
                                                 Keith A. Wingfield, Salesper-          identified to a real estate transaction,
   listed.                                                                              constitutes improper, fraudulent, or
                                            son, Little Rock: In Formal Hearing
                                            #2094 the Commissioners ordered that        dishonest dealing. 5) Respondent
                                            “...Respondent Wingfield be allowed to      advised Complainant that Respondent
     Pauline F. White, Salesperson,         reinstate his salesperson’s license, but    would transfer the management of
Mountain Home: In Formal Hearing            as a condition for the reinstatement of     Complaintant’s property to another real
#2095 the Commissioners ordered that        said license, Keith Wingfield must          estate firm, but failed and refused to
“...a Letter of Reprimand be placed in      present a supervisory plan agreed to        do so and continued to manage and
Ms. White’s license file. Furthermore,      by his principal broker and                 collect rent without the Complainant’s
Respondent White is ordered to pay a        Commission’s Executive Director, and        knowledge. 6) Respondent collected
fine of $500.00 to the Arkansas Real        approved thereafter by the Commis-          rents for Complainants’ properties, but
Estate Commission within thirty (30)        sion.”                                      failed within a reasonable time to
days of receipt of the written Order in                                                 account for or to remit said rents to
                                                 The Commission found Mr.               Complainants’. 7) Respondent col-
this matter. Prior to such time as          Wingfield guilty of violating Arkansas
Respondent White attempts to renew                                                      lected deposits for Complainants’
or activate her license, Respondent         Code Annotated §17-42-31l(a)(3).            properties, but failed within a reason-
White is ordered to attend an 18-hour            Mr. Wingfield was convicted of a       able time to account for or to remit
salesperson course, approved by             crime involving moral turpitude, fraud,     said deposits to Complainants’. 8)
Commission’s Executive Director, and        dishonesty, untruthfulness, and             Respondent agreed to perform certain
Respondent White will not be eligible       untrustworthiness.                          repairs to Complainants’ property,
for scholarship for that course.”                                                       received payment therefrom, but failed
     The Commission found Respon-                                                       and refused to complete said repairs,
                                                 Tim L. Rodgers, Salesperson,           and failed and refused to refund
dent White guilty of violating Commis-      Conway: In Formal Hearing #2097 by
sion Regulation 8.5(a).                                                                 Complainant the cost of the repairs
                                            Consent Order the Commissioners             that he did not complete.
     Ms. White failed to protect and        ordered that “...Respondent Tim L.
promote the interests of her clients, the   Rodgers’ salesperson’s license be           See Formal Hearing Decisions -
Complainants. After Complainants            revoked effective immediately.”             Page 4
told Ms. White they needed property              Charges against Mr. Rodgers are
for a commercial use, Ms. White did         as follows: 1) From May 1, 2004
not determine whether the property          through December 2004 Respondent
was appropriately zoned for her             Rodgers practiced real estate without
clients’ intended commercial use,           holding an active real estate license. 2)
inquire whether her clients had done        Respondent Rodgers failed to file a
so, or include conditions in the contract   written answer to Complaints filed by
that required the appropriate commer-       Complainants. 3) After reporting to the
cial zoning classification for the          Commission that Anchor Realty had
property. Ms. White relied on the           closed and that he had stored the
erroneous information contained in the      firm’s real estate records at a desig-
MLS printout stating that the property      nated location, Respondent shredded
                                            all the real estate records for Anchor
November 2005                                                                                                                 3
                                                                                                                   PRSRT STD
ARKANSAS REAL ESTATE COMMISSION                                                                                   US POSTAGE
LITTLE ROCK AR 72201-4740
                                                                                                                   PERMIT #75
                                                                                                                LITTLE ROCK AR

       Executive Director’s
       Comments ............................1-2
       New Commissioner..............1
       AREC - Who to Call?..........2
       Hearing Decisions............ 3-4
       Post-License....................... 2

Continued from Page 3                             license will be granted subject to a    as an original applicant and shall
                                                  supervisory plan to be approved by      appear before the Commission for the
   TIM L. RODGERS , SALESPERSON,                  the Commission prior to issuance        Commission to determine whether he
CONWAY- CONTINUED:                                of a salesperson’s license.”            meets the eligibility requirements
    The Commission found Mr. Rodgers                                                      pursuant to the then applicable law
guilty of violating Arkansas Code Anno-              “The Commission further voted        before he is eligible to sit for the
tated §17-42-308(a)(2)( Repl.2001),               unanimously that Respondent         h   Arkansas Salesperson or Broker real
Commission Regulation 9.2(b), Regulation          Marratt pay to the Arkansas Real        estate license examination.”
10.7(c), and Arkansas Code Annotated              Estate Commission a $200.00 fine
§17-42-311(a)(13)(6).                             pursuant to Arkansas Code                  Mr. Gates did not exercise strict
                                                  Annotated §17-42-312(a)(4) for          supervision of the property manage-
    A Recovery Fund Hearing was held              submission of a fraudulent applica-     ment activities of Salesperson Tim
pursuant to Arkansas Code Annotated               tion.”                                  Rodgers; failed to have either “trust”
§17-42-401 et seq., the Commission                                                        or “escrow” in the name of the
ordered Mr. Rodgers to pay Complain-                 Mr. Marratt was convicted of a       account he reported to the Commis-
ants’ damages in the total amount of              crime involving moral turpitude,        sion as his trust account; failed to
$31,419.82.                                       fraud, dishonesty, untruthfulness,      reconcile the trust account in writing
                                                  and untrustworthiness.                  monthly and failed to balance the trust
    Charles E. Marratt, Broker, Little                                                    account to the total amount of trust
Rock: In Formal Hearing #3001 the                    Ronald Gates, Broker,                funds deposited into the account that
Commissioners ordered “ deny                 Conway: In Formal Hearing               had not been disbursed.
Respondent Marratt’s request for rein-            #2098 by Consent Order the
statement as Principal Broker; however,           Commissioners ordered “...that             The Commisson found Respondent
Respondent Marratt may apply for a                Respondent Ronald Gates’ broker         Gates guilty of violating Commission
salesperson’s license by written request to       license be revoked effective            Regulation 10.4(b); Regulation 10.8(c)
the Arkansas Real Estate Commission               immediately. Furthermore, should        and Regulation 10.8(g) (2).
Executive Director. A salesperson’s               Mr. Gates apply for a real estate tt
                                                  license in the future, he shall do so

November 2005                                                                                                                   4

Description: Real Estate in Paragould Arkansas document sample