The 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 the transaction.

Additionally, the bill modifies the confidentiality obligations of licensees. While they are generally required to keep confidential information private, there are exceptions for authorized dual agents, where disclosure may be limited by contract. The bill also specifies that the duties of a licensee cannot be waived by a client, except in the context of dual agency as outlined in the new provisions. Overall, the amendments aim to provide clearer guidelines for real estate professionals and their clients regarding agency relationships and the handling of confidential information.