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Qualifications for License
- §73-35-7. Qualifications for license
- Qualifications for a Mississippi Real Estate Broker License
- Qualifications for a Mississippi Real Estate Salesperson's License
- §73-35-10. Background investigation required of applicants for real estate broker's, real estate salesperson's, or nonresident's license
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Application for License
- §73-35-9. Application for license
- Resident Salesperson License Application
- Resident Broker Application
- §73-35-6. Licenses for business entities
- §73-35-8. Nonresident's license; application
- Degree Courses in Real Estate
- License Exemptions
- §73-35-8. Nonresident's license; application
- §73-35-9. Application for license
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License Exam Information
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License
- §73-35-14.5. Temporary licenses; post-license education
- §73-35-18. License renewal; continuing education requirements; exemptions; rules and regulations; reinstatement of expired license.
- §73-35-21. Grounds for refusing to issue or suspending or revoking license; hearing
- §73-35-6. Licenses for business entities
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License Course Requirements
- Pre License Exam Course Content
- Post License Course for Salesperson
- Post License Course for Brokers
- §73-35-18. License renewal; continuing education requirements; exemptions; rules and regulations; reinstatement of expired license.
- §73-35-14.4. Distance learning courses
- ARELLO for Pre-License Courses
- Course Day Hour Limits
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Mississippi Real Estate Commission
- Real Estate Brokers License Law of 1954
- §73-35-19. Real estate license fund
- §73-35-23. Powers of commission as to violations; hearings upon revocation; subpoena
- §73-35-25. Appeals
- §73-35-27. Duties of commission
- §73-35-29. Administrator to give bond
- §73-35-35. Commission to adopt rules and regulations
- §73-35-5. Real estate commission created; organization; seal; records
- §89-1-515. Amendment of disclosure
- §89-1-525. Enforcement by Mississippi Real Estate Commission
- Interest on Real Estate Brokers' Escrow Accounts Act. (IREBEA)
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Property Condition Disclosure
- §89-1-501. Applicability of real estate transfer disclosure requirement provisions
- §89-1-503. Delivery of written statement required; indication of compliance; right of transferee to terminate for late delivery
- §89-1-505. Limit on duties and liabilities with respect to information required or delivered
- §89-1-507. Approximation of certain information required to be disclosed; information subsequently rendered inaccurate
- §89-1-509. Form of seller's disclosure statement
- §89-1-511. Disclosures to be made in good faith
- §89-1-513. Provisions not exhaustive of items to be disclosed
- §89-1-517. Delivery of disclosure
- §89-1-521. Delivery of disclosure where more than one agent; inability of delivering broker to obtain disclosure document; notification to transferee of right to disclosure
- §89-1-523. Noncompliance with disclosure requirements not to invalidate transfer; liability for actual damages
- §89-1-525. Enforcement by Mississippi Real Estate Commission
- §89-1-527. Failure to disclose nonmaterial fact
- Disclosure of information concerning size or area of property involved in real estate transaction; liability; remedy for violation of section
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Brokerage and Agency
- §73-35-11. Nonresident may not act except in cooperation with licensed broker of state
- §73-35-15. Location of business and responsible broker to be designated
- §73-35-16. Real estate licensees required to obtain errors and omissions insurance coverage
- §89-1-519. Agent; extent of agency
- Broker's price opinion; preparation, contents, and use of opinion
- §73-35-17. Fees
- §73-35-31. Penalties for violations of chapter
- §73-35-33. License required to sue for compensation; suit by salesperson in own name
- §73-35-17. MREC Fees
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Definitions
- Automated Valuation Method
- Broker Price Opinion
- Real Estate
- Real Estate Broker
- Real Estate Salesperson
- I. "Single Agency"
- A. A “Team or Group”...
- A. "Advertising" means...
- H. "First Substantive Meeting"
- G. "Fiduciary Responsibilities"
- F. "Disclosed Dual Agent"
- E. "Customer"
- D. "Compensation"
- C. "Client"
- B. "Agent"
- A. "Agency"
- Show all articles ( 1 ) Collapse Articles
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Chapter 1: Licensing Rule 1.1 Applying for a License
- A. An applicant for a broker’s license
- B. An applicant for a salesperson's license
- C. An application fee
- E. When an applicant is approved
- F. If a corporation has been chartered by the state of Mississippi
- D. The approved Examination Testing Provider
- G. A real estate licensee of another state
- Real estate education courses
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Rule 1.2 Changing the Status of a License
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Part 1601 Chapter 2: Fees Rule 2.1
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Miss. Code Ann. §73-35-35 Part 1601 Chapter 3: Administration/Conducting Business Rule 3.1 General Rules
- A. It shall be the duty of the responsible broker to instruct the licensees
- B. A real estate broker who operates under the supervision of a responsible broker
- B. A broker shall advertise in the name...
- C. A licensed Mississippi broker may cooperate with a broker licensed in another state
- D. A responsible broker must maintain an office and display the license therein.
- E. No licensee shall pay any part of a fee, commission...
- F. Any licensee who fails in a timely manner to respond...
- G. A real estate broker or salesperson in the ordinary course of business...
- H. When an offer is made...
- I. A real estate licensee shall not be exempt ...
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Miss. Code Ann. §73-35-35 Rule 3.2 Documents
- A. A real estate licensee shall immediately (at the time of signing)...
- B. All exclusive listing agreements...
- C. All exclusive buyer representation agreements...
- D. In the event that more than one written offer...
- E. Every real estate contract...
- F. No licensee shall represent to a lender...
- G. A real estate broker must keep on file for three years...
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Miss. Code Ann. §73-35-35 Rule 3.3 Advertising
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Miss. Code Ann. §73-35-35 Rule 3.4 Earnest Money
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Miss. Code Ann. §73-35-35 Rule 3.5 Real Estate Teams or Groups
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Part 1601 Chapter 4: Agency Relationship Disclosure Rule 4.1 Purpose
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Part 1601 Chapter 4: Agency Relationship Disclosure Rule 4.2 Definitions
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Miss. Code Ann. §73-35-3 Rule 4.3 Disclosure Requirements
- A. In a single agency,...
- B. In a single agency,...
- C. Brokers operating in the capacity of disclosed dual agents...
- D. In the event the agency relationship changes...
- E. In the event one or more parties are not available...
- F. In the event any party receiving a disclosure form requests...
- G. The terms of the agency relationship...
- H. The Commission mandated disclosure form...
- I. Completed Agency Disclosure Forms...
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Miss. Code Ann. §73-35-3 Rule 4.4 Disclosure Exception
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Part 1601 Chapter 5: Complaint Procedure Rule 5.1
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Miss. Code Ann. §73-35-35 Part 1601 Chapter 8: Time Shares Rule 8.1 Licensing
- Rule 8.2 Definitions
- Rule 8.3 Registration
- Rule 8.4 Public Offering Statement
- Rule 8.5 Amendment to Registration Information and Public Offering Statement:
- Rule 8.6 Registration Review Time Frames
- Rule 8.7 Purchase Contracts
- Rule 8.8 Exchange Program
- Rule 8.9 Escrows and Alternatives Assurances
- Rule 8.10 Insurance
- Rule 8.11 Advertising and Marketing:
- Rule 8.13 Liens
- Rule 8.14 Owner Referrals
- Rule 8.12 Management
- Any seller, other than the developer and its regular employees...
- Part 1601 Chapter 9: Errors and Omissions Insurance Coverage Rule 9.1 Administration
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Oral Proceedings & Declaratory Opinions
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PART 1603: Board Organization and Members
Resident Broker Application
INSTRUCTIONS FOR COMPLETING THE RESIDENT BROKER LICENSE APPLICATION
NOTE: This form is ONLY to be used by MISSISSIPPI residents. To qualify for broker, the applicant must be licensed as a Mississippi salesperson on ACTIVE status for a minimum of twelve (12) months immediately prior to applying for a broker license. If the applicant is not currently licensed as a salesperson, college real estate education is required to qualify for a broker license.
Questions 1 – 2: This is the applicant’s personal information.
All correspondence from MREC is sent to the applicant’s home address until they become licensed. If you cannot receive mail at your residence, you must provide your mailing address
IN ADDITION TO your residential address. We must also have your email address. Be sure to provide a valid email address you have access to and regularly check in the event MREC should need to contact you.
Question 3: This is the address where the applicant will be conducting business. It must be a physical address. Post office boxes are not allowed.
Questions 4 – 5: Should be self-explanatory. Question 6: If you have ONLY been licensed in Mississippi,
DO NOT request a certificate of licensure.
ONLY send a certificate of licensure if you are or were licensed in another state!
All certificates of licensure submitted to MREC must be received by MREC within 60 days of the notary date.
Question 7: Should be self-explanatory.
Questions 8 – 9: If you have applied before, and were not licensed because your application expired or you failed the state exam, that does NOT constitute being denied a license or a license being revoked.
Questions 10 – 11: Should be self-explanatory. If you plan to have a job in addition to real estate, you must list it on question 11.
Questions 12 – 13: If you answer ‘yes’ to any of these questions, you MUST provide a SEPARATE statement regarding why you answered ‘yes.’ Regarding arrests and judgments, “all facts” include:
The date of arrest and result. Any jail time and/or probation should be listed with dates of when it was or will be completed.
Both misdemeanors and felonies should be disclosed.
The date of the judgment, the amount, and when it was or will be paid in full.
If you are currently in bankruptcy, you must send a copy of your petition/schedule. If you have been discharged, you ONLY need to send a copy of the discharge paper.
Questions 14 – 21: Note that some questions have multiple parts. Be sure to answer all questions fully.
Question 22: This is for your PERSONAL bank accounts. Recommendation of Three Real Estate Owners: Should be self-explanatory.
Photos of applicant: You MUST include a full face and a profile (side view) face photo with your application.
The photos are not required to be any certain size, but the MUST be clear.
BEFORE MAILING, BE SURE THE FOLLOWING HAVE BEEN ADDRESSED:
Application MUST be typed or printed. If it is printed, be sure handwriting is VERY CLEAR. MREC is not responsible for any misprints due to illegible handwriting.
ALL questions have been answered in their entirety.
The application fee is included.
Your qualifying education certificates are attached. It is not necessary to send your sales pre- or post-license certificates again or a copy of your sales license.
Your broker pre-licensing education certificates are all that is needed. If you are not currently licensed as a salesperson and are qualifying by college education, you must include an original transcript.
If you are currently licensed as a broker/salesperson under another responsible broker, you must include a letter of recommendation from your current broker.
The letter should be less than 60 days old when received by MREC. Send the original letter.
The letter from your bank should be in reference to your personal banking accounts (not business accounts), confirm the banking relationship, and verify that the applicant is in good standing with the bank.
The letter should be less than 60 days old when received by MREC. Send the original letter.
The application must be notarized and must be received by MREC within 60 days of the notary date.
You MUST send the ORIGINAL application. A copy or scan (even in color) will NOT be accepted.
Also, all signatures must be the ORIGINAL signatures. Digital signatures are NOT acceptable.