Committee advances bill creating property‑management licensing path under Real Estate Commission

State Representative Richard McGrew (R., District 85) presented House Bill 1558, which would create a property management license track regulated by the Arkansas Real Estate Commission. "It provides a path where someone can become a property manager in the state of Arkansas without having to be a sales associate and sales broker and spending 2 years doing that," McGrew said during committee discussion.

Under the bill as explained to the committee, an applicant for a property management broker license would need 60 hours of education (30 hours on law and 30 on best practices) and two years' experience managing seven or more rental units; that individual could then supervise associate property managers who would serve an apprenticeship before qualifying for their license. The measure would place property managers under the Real Estate Commission's oversight and include continuing education requirements similar to other real estate licenses. McGrew said the bill also replaces a proposed fidelity bond with coverage under the commission's existing recovery fund.

Committee members asked multiple questions about grandfathering, the seven‑unit experience threshold, continuing education and whether the existing waiver process would remain available. McGrew said existing licensed brokers who already manage property would not be affected; the waiver that currently exists in Real Estate Commission rules was left in place and not repealed by this bill. No speakers registered for or against HB 1558 in committee. The committee voted to move the bill forward by voice vote.