This bill amends the law regarding agency relationships and duties related to real estate licenses in Arkansas, specifically clarifying the obligations of dual agency. It establishes that when a licensee accepts employment from a client, they have a primary duty of absolute fidelity to protect and promote the client's interests, unless multiple clients consent to dual agency and contractually waive this duty. The bill outlines the various obligations of the licensee, including using reasonable efforts to further the client's interests, exercising skill and care, and disclosing material facts about transactions.

Additionally, the bill modifies the confidentiality obligations of licensees. It specifies that while licensees must refrain from disclosing confidential information, there are exceptions when they are authorized dual agents, allowing for limited disclosure under certain conditions. The duties of a licensee cannot be waived by a client, except as provided in the new provisions regarding dual agency and confidentiality. Overall, the bill aims to enhance clarity and protect the interests of clients in real estate transactions.