This article is part of a larger series on How to Become a Real Estate Agent.
To get your Mississippi real estate license, you’re required to complete 60 hours of Mississippi Real Estate Commission (MREC)-approved prelicensing education and affiliate with a sponsoring brokerage. Apart from these, you also need to get fingerprints and a background check, apply for your license, pass your licensing exam, and acquire errors and omissions insurance. We’ll guide you through the step-by-step process of becoming a real estate agent in Mississippi.
1. Meet the Legal Requirements for Your Mississippi Real Estate License
To qualify for your real estate license in Mississippi, you must meet the state’s legal requirements. Mississippi requires all real estate agent applicants to be a resident of Mississippi when the application is submitted and be at least 18 years of age.
Did you know? Mississippi currently has no formal reciprocity agreements, but you may qualify for licensure if you have equivalent education and examinations from your current state. You must submit the Non-Resident/Reciprocal Salesperson License Application, get a background check, a certificate of completion from your real estate school, and pass the Mississippi portion of the real estate exam. For more information, take a look at the Reciprocal Instruction Form.
Also, Mississippi is a cooperative state in terms of portability. It allows out-of-state real estate agents or brokers to enter the state to conduct real estate business physically. However, for out-of-state agents to work on a real estate transaction, they must have a co-brokerage agreement with a licensee of that state. To learn more about Mississippi real estate license portability, check out our guide on real estate license reciprocity and portability.
If you have a criminal record, it may be difficult to obtain a real estate license in Mississippi. Certain offenses, such as felonies involving an act of fraud, dishonesty or a breach of trust, and money laundering, will prohibit you from getting your license. However, you do have the right to appeal to the MREC for permission to become licensed regardless of any offenses.
Read more about how a criminal record can affect your licensure in the Mississippi Real Estate License Law Regulations.
2. Complete Required Prelicensing Courses
Once you’ve confirmed your legal prerequisites for licensure, you’re ready to start your prelicensing education. Mississippi requires 60 hours of courses that can be completed in-person or at an accredited online real estate school. Prices range from $199 to $595 and cover the following topics:
- Property ownership
- Land use controls and regulations
- Valuation and market analysis
- General principles of agency
- Property disclosures
- Leasing and property management
- Transfer of title
- Practice of real estate
- Real estate calculations
- Powers and duties of the real estate commission
- Property condition disclosures
- Agency disclosure and duties to parties
- Out-of-state brokers and developers
- Trust accounts
- Broker responsibilities, including supervision of sales associates
- Records and documents
- Advertising, marketing, internet
Did you know? If you’ve completed college courses in real estate equivalent to the 60 hours of mandated education, you may be able to waive these requirements. A three-semester hour course is equal to 45 classroom hours, and the credit must be from an institution approved by the Southern Association of Colleges or schools with comparable regional accrediting authority.
To get started on your prelicensing classes right away, consider the online self-paced courses from Colibri Real Estate. Choose from bundled course packages that include a variety of tools like exam prep, instructor support, e-books, and instructor Q&A. Even more, their pass guarantee ensures that you will pass your exam on the first attempt or get your money back.
3. Pick a Company to Work For
In order to hold an active license in Mississippi, you must find a sponsoring brokerage to affiliate your license. To make your choice a little bit easier, check out our in-depth article explaining how to choose a real estate company to work for. Although there are many successful brokerages in the Hospitality State, below you’ll find the top five brokerages reported for 2022:
The Home Gurus
Keller Williams Realty
Burch Realty Group
The Key Consultants
Keller Williams Realty
Julie Davis Team
Gowen Property Group
Keller Williams Realty
(Source: Real Trends 2022)
Mississippi Cities With Highest Median Sales Price 2022
The higher that homes are selling for means, the higher commission you have the opportunity to get. To get a sense of which cities are bringing in the bucks in Mississippi, check out this sales data from Towncharts.com below:
4. Get Fingerprints & Background Check
All applicants are required to undergo a fingerprint-based criminal history check by both the Mississippi central crime database and the FBI database. You must complete the Authorization to Release Information form and include a $50 check or money order made payable to the MREC in order to pay for the background check.
Fingerprints can be taken at a local law enforcement office, UPS store, or directly at the MREC by making an appointment by calling 601-321-6974. You are also responsible for any additional fingerprint fees, depending on the fingerprinting provider.
5. Apply for Your Mississippi License
Before taking your real estate exam, you must submit your license application for review by the MREC. Your paper application must be mailed or hand-delivered to the MREC and include a $120 fee. Keep in mind that the application has to be signed and notarized by both you and your sponsoring brokerage and must include the following documents:
- College transcripts or Certificates of Completion from Mississippi Approved Prelicensing Education Provider
- Fee of $120.00
- Photos (full face and profile views)
- (If applicable) Certification of Licensure if you are licensed in another state
- (If applicable) If you hold a criminal record, written statement with full detail and documentation of the incident(s)
Upon approval of eligibility, you will be responsible for scheduling an appointment to take the exam within two months of your application approval. If you don’t schedule your exam within two months, your application fee will be forfeited and your file closed.
6. Take the Mississippi Real Estate Exam
After you’re application has been approved by the MREC, you’re ready to schedule your Mississippi real estate license exam. Your exam will be administered on the computer, and you will receive your score report immediately after completion. If you pass, you’ll receive a success notification and can move forward with the licensure process.
If you fail, you’ll receive a diagnostic report that details your strengths and weaknesses, so you’ll be able to prepare to retake the exam. You’re required to pass both the national (general) and state portion of the exam within a two-month period.
The national portion can be taken unlimited times to produce a passing score. However, the state portion can only be failed twice. After failing twice, you must wait three months to retake the sales exam.
Mississippi Real Estate Exam Details
80 national/general focused questions
40 state-specific questions
Items to Bring to the Exam
2 valid forms of identification (ID) with signatures:
75% to pass the state portion of the exam (30/40 questions correct)
Unfortunately, Mississippi does not provide its average pass rating.
Schedule Your Exam
The Mississippi real estate exam is provided by PSI, a national provider for state licensing exams. To begin scheduling, you’ll be required to create an account on the PSI website, which will then allow access to the scheduling portal.
You will receive a copy of the Mississippi Candidate Information Bulletin for additional testing information. The fee to take the exam is $75 and can be paid directly on the website using a credit or debit card. For additional rules and regulations, refer to the MREC Rules and Regulations form.
To make sure you pass both the national and state portions of the exam, consider purchasing exam prep assistance. PrepAgent has a variety of tools to help you become a real estate agent in Mississippi, like flashcards, e-books, audio and video lessons, and vocabulary worksheets. With options for access from one week to one year, you can prepare for your exam at your own pace and start a successful real estate career right away.
7. Acquire Errors & Omissions Insurance
After you’ve passed your exam and are ready to activate your Mississippi real estate license, you’re required to have errors and omissions insurance (E&O). This is used to protect real estate businesses from mistakes made during professional service.
Some brokerages may provide their brokers with E&O. Otherwise, you’ll have to purchase it yourself and submit a Conformity Endorsement or the Declaration Page from your E&O carrier. MREC works closely with Rice Insurance Services, LLC to provide affordable options.
8. Start Your Real Estate Career
Now that you’ve learned how to become a real estate agent in Mississippi, you’re ready to start your professional real estate journey. For more information, here are some of our articles with content that is perfect for new real estate agents:
- Our article with 14 real estate agent tips covers the basics that every agent should know when they are starting out, including how to write a real estate business plan.
- Learn how to generate real estate buyer leads.
- Get nine strategies to help with real estate seller lead generation.
- Jump-start your career with the top 25 new real estate agent tips from the pros.
- Get the tools you need to build a strong real estate business out of the gate using the best real estate software and tools.