Company Appeals Un-real Estate Fines

The owners and agents of ERA Stewarts Realty Inc. of Hot Springs Village, which recently had an office in Bella Vista, have appealed in Pulaski County Circuit Court more than $400,000 in fines imposed by the Arkansas Real Estate Commission as punishment for charging up-front fees for reselling undeveloped lots but not delivering sales.

Seventy-four clients lodged complaints against the company, which closed its doors in 2000. The commission also has ordered Stewarts’ agents to repay clients $47,400.

In their appeal, filed March 26, Stewarts’ owners and agents argue that the commission exceeded its statutory authority and that its decision was not supported by evidence.

Sharon Stewart of Royal, who co-owned the company with her husband, Gary, said her firm did its best to sell the lots and, “it would be nice if every listing every real estate office ever took sold.”