Key Takeaways
- The Alaska Real Estate Commission (AREC) regulates real estate licensees under Alaska Statutes Title 8 Chapter 88
- AREC operates within the Division of Corporations, Business and Professional Licensing (DCBPL)
- The Commission consists of seven members appointed by the Governor: five licensed real estate professionals and two public members
- AREC has authority to investigate complaints, conduct hearings, and take disciplinary action including license suspension or revocation
- Alaska requires 40 hours of pre-license education for salesperson applicants
Alaska Real Estate Commission (AREC)
The Alaska Real Estate Commission (AREC) is the state agency responsible for licensing, regulating, and overseeing real estate professionals in Alaska under Alaska Statutes Title 8 Chapter 88 (AS 08.88).
Real Estate SalespersonFree exam prep with practice questions & AI tutor
AREC Structure and Authority
Division of Corporations, Business and Professional Licensing
AREC operates within the Division of Corporations, Business and Professional Licensing (DCBPL), which is part of the Department of Commerce, Community, and Economic Development.
Commission Members
AREC consists of seven members appointed by the Governor:
| Member Type | Number | Requirements |
|---|---|---|
| Licensed real estate professionals | 5 | Active Alaska license |
| Public members | 2 | Not licensed in real estate |
Members serve four-year staggered terms and may serve a maximum of two consecutive terms.
Key AREC Functions
| Function | Description |
|---|---|
| Licensing | Process applications, approve education providers, issue licenses |
| Education | Set education requirements, approve courses and schools |
| Enforcement | Investigate complaints, conduct hearings |
| Discipline | Suspend, revoke, or deny licenses; impose fines and civil penalties |
| Rulemaking | Adopt regulations implementing AS 08.88 |
Alaska Statutes Title 8 Chapter 88
Alaska Statutes Title 8 Chapter 88 (AS 08.88) is the primary statute governing real estate licensing in Alaska. Key provisions include:
- Who must be licensed - Definitions of broker and salesperson activities
- Exemptions - Attorneys, property owners, certain employees
- Prohibited conduct - Actions that violate the law
- Disciplinary actions - Grounds for suspension or revocation
- Trust fund handling - Requirements for client funds
Alaska Administrative Code (12 AAC 64)
AREC adopts administrative regulations (12 AAC 64) that implement AS 08.88. These regulations cover:
- License application procedures
- Education requirements and course approval
- Advertising standards
- Trust account requirements
- Agency disclosure procedures
Exam Tip: Know the difference between statutes (AS 08.88) and regulations (12 AAC 64). Statutes are passed by the legislature; regulations are adopted by AREC to implement the statutes.
Real Estate Surety Fund
The Alaska Real Estate Surety Fund provides compensation to consumers who suffer financial losses due to the misconduct of a licensed real estate professional.
Fund Details
| Requirement | Details |
|---|---|
| Maximum per transaction | $15,000 |
| Maximum per licensee | $30,000 total |
| Filing requirements | Must obtain court judgment first |
| Time limit | Claim within 2 years of discovery |
How the Fund Works
- Consumer is harmed by licensee misconduct
- Consumer obtains court judgment against licensee
- Consumer cannot collect judgment from licensee
- Consumer applies to AREC for payment from Surety Fund
- AREC pays from fund (if eligible)
- Licensee's license is suspended until fund is repaid
Key Point: The Surety Fund covers actual damages only—not punitive damages, attorney fees, or court costs.
AREC Contact Information
| Resource | Information |
|---|---|
| Website | commerce.alaska.gov/web/cbpl/ProfessionalLicensing/RealEstateCommission |
| Main Office | Juneau, Alaska |
| Phone | (907) 465-2550 |
| Online System | Alaska Professional License Search |
How many members serve on the Alaska Real Estate Commission?
What is the maximum amount the Alaska Real Estate Surety Fund can pay per transaction?