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License Finder

Real Estate Salesperson
License Description General information terms and definitions It shall be the duty of the responsible broker to instruct the licensees licensed under that broker in the fundamentals of real estate practice ethics of the profession and the Mississippi Real Estate License Law and to exercise supervision of their real estate activities for which a license is required. A. Agency shall mean the relationship created when one person the Principal (client) delegates to another the agent the right to act on his behalf in a real estate transaction and to exercise some degree of discretion while so acting. Agency may be entered into by expressed agreement implied through the actions of the agent and or ratified after the fact by the principal accepting the benefits of an agent's previously unauthorized act. An agency gives rise to a fiduciary relationship and imposes on the agent as the fiduciary of the principal certain duties obligations and high standards of good faith and loyalty. B. Agent shall mean one who is authorized to act on behalf of and represent another. A real estate broker is the agent of the principal (client) to whom a fiduciary obligation is owed. Salespersons licensed under the broker are subagents of the Broker regardless of the location of the office in which the salesperson works. C. Client shall mean the person to whom the agent owes a fiduciary duty. It can be a seller buyer landlord tenant or both. D. Compensation is that fee paid to a broker for the rendering of services. Compensation when considered alone is not the determining factor in an agency relationship. The relationship can be created regardless of whether the seller pays the fee the buyer pays the fee both pay the fee or neither pays a fee. E. Customer shall mean that person not represented in a real estate transaction. It may be the buyer seller landlord or tenant. Aggregate limit means a provision in an insurance contract limiting the maximum liability of an insurer for a series of losses in a given time period such as the policy term. Claims-made means policies written under a claims-made basis which shall cover claims made (reported or filed) during the year the policy is in force for incidents which occur that year or during any previous period the policyholder was insured under the claims-made contract. This form of coverage is in contrast to the occurrence policy which covers todays incident regardless of when a claim is filed even if it is one or more years later. Extended reporting period means a designated period of time after a claims-made policy has expired during which a claim may be made and coverage triggered as if the claim had been made during the policy period. Licensee means any active individual broker broker-salesperson or salesperson any partnership or any corporation. Per-claim limit means the maximum limit payable per licensee for damages arising out of the same error omission or wrongful act. Prior acts coverage applies to policies on a claims-made versus occurrence basis. Prior acts coverage responds to claims that are made during a current policy period but the act or acts causing the claim or injuries for which the claim is made occurred prior to the inception of the current policy period. Proof of coverage means a copy of the actual policy of insurance a certificate of insurance or a binder of insurance. Retroactive date means a provision found in many claims-made policies that the policy shall not cover claims for injuries or damages that occurred before the retroactive date even if the claim is first made during the policy period. General Licensure Requirements Any active individual broker active broker-salesperson or active salesperson must carry Errors and Omissions coverage through the insurance carrier approved by the MS Real Estate Commission provided on a group policy basis. If they do not carry insurance through the MS Real Estate Commission they must carry acceptable independent coverage. The coverage and policy must meet the minimum requirements of the MS Real Estate Commission. Licenses shall be granted only to persons who present and to corporations partnerships companies or associations whose officers associates or partners present satisfactory proof to the commission that they are trustworthy and competent to transact the business of a real estate broker or real estate salesperson in such manner as to safeguard the interests of the public. Every applicant for a resident license as a real estate salesperson shall be age eighteen (18) years or over shall be a bona fide resident of the State of Mississippi prior to filing his application and shall have successfully completed a minimum of sixty (60) hours in courses in real estate as hereafter specified; and shall have successfully completed the real estate salespersons examination as hereafter specified. The residency requirements set forth in this section shall not apply to those licensees of other states who qualify and obtain nonresident licenses in this state. The commission is authorized to exempt from such prelicensing educational requirements in whole or in part a real estate licensee of another state who desires to obtain a license under this chapter; provided however that the prelicensing educational requirements in the other state are determined by the commission to be equivalent to prelicensing educational requirements in this state and provided that such state extends this same privilege or exemption to Mississippi real estate licensees. The issuance of a license by reciprocity to a military-trained applicant or military spouse shall be subject to the provisions of Section 73-50-1 of Mississippi Law. A nonresident may apply for a nonresidents license in Mississippi provided the individual is (i) a licensed broker in another state or (ii) is a broker/salesperson or salesperson affiliated with a resident or nonresident Mississippi broker or (iii) is a nonresident who applies for a brokers license and who will maintain an office in Mississippi. The nonresident broker need not maintain a place of business within Mississippi provided he is regularly actively engaged in the real estate business and maintains a place of business in the other state. The nonresident licensee or applicant shall be subject to all the provisions of this chapter except for the residency requirement and approved equivalent pre-licensing education. Every applicant for a salespersons license shall apply therefor in writing upon blanks prepared by the commission and shall provide such data and information as the commission may require. Each application for license shall also be accompanied by two (2) photographs of the applicant in such form as the commission may prescribe. Each application or filing made under this section shall include the social security number(s) of the applicant in accordance with Section 93-11-64 Mississippi Code of 1972. To assist the commission in conducting its licensure investigation from and after July 1 2016 all applicants for a Mississippi real estate brokers license or a Mississippi resident license as a real estate salesperson or a nonresidents license in Mississippi and all applicants for renewal of any real estate license shall undergo a fingerprint-based criminal history records check of the Mississippi central criminal database and the Federal Bureau of Investigation criminal history database. Each applicant shall submit a full set of the applicants fingerprints in a form and manner prescribed by the commission which shall be forwarded to the Mississippi Department of Public Safety (department) and the Federal Bureau of Investigation Identification Division for this purpose. Temporary licenses; post-license education (1) Upon passing the Mississippi brokers or salespersons examination and complying with all other conditions for licensure a temporary license shall be issued to the applicant. The fee for the temporary license shall also be the same for the permanent license as provided in Section 73-35-17. A temporary license shall be valid for a period of one (1) year following the first day of the month after its issuance. (2) All Mississippi residents who apply for and receive a nonresident Mississippi brokers or salespersons license shall be subject to the requirements under this section including temporary licensure and completion of a thirty-hour post-license course. (3) The holder of a temporary license shall not be issued a permanent license until he has satisfactorily completed a thirty-hour post-license course prescribed by the commission and offered by providers specifically certified by the commission to offer this mandated post-license education. The holder of a temporary license shall complete the entire thirtyhour course within twelve (12) months of issuance of his temporary license; otherwise this temporary license shall automatically be placed on inactive status by the Mississippi Real Estate Commission. If the holder of the temporary license does not complete the course and have his permanent license issued within one (1) year following the first day of the month after its issuance the temporary license shall automatically expire and lapse. A temporary license is not subject to renewal procedures in this chapter and may not be renewed. (4) The thirty-hour post-license course shall be offered by providers certified and approved by the commission and an annual certification fee of One Thousand Dollars ($1000.00) shall be charged to providers. The thirty-hour post-license coursework shall be offered in no less than fifteen-hour increments of classroom instruction. No more than eight (8) hours may be earned in a single day. The commission shall determine standards for approval of post- license courses and course providers and shall require certification of such coursework of the applicant. There shall be different content criteria for post-license education for salesperson licensees and for broker licensees. In the post-license course for salesperson licensees a minimum of twenty-four (24) hours of the thirty-hour coursework shall be in the following subjects agency relationships contracts earnest money antitrust fair housing ethics and property condition disclosure. The remaining six (6) hours shall be in subjects intended to enhance the competency of salesperson licensees in representing consumers and may include the following subjects pricing property environmental issues home inspections leases and property management and mortgage processes. In the post-license course for broker licensees a minimum of twenty-four (24) hours of the thirty hour coursework shall be in the following subjects managing escrow accounts intraoffice confidentiality broker responsibilities to licensees office policies and procedures (including agency office policies) broker agreements with licensees and assistants and Mississippi Real Estate Commission required forms and any other subject as the commission may by rule require to be included in such course. The remaining six (6) hours shall be in subjects intended to enhance the competency of brokers including without limitation managing agents recruiting retention budgeting and financial planning. (5) The holder of an active license who has satisfactorily completed the post-license course and whose permanent license has been issued shall not be subject to the sixteen-hour continuing education requirement in this chapter for the first renewal of his permanent license. Any active individual broker active broker-salesperson or active salesperson must carry Errors and Omissions coverage through the insurance carriers approved by the MS Real Estate Commission and provided on a group policy bases. The coverage and policy must meet the minimum requirements of the MS Real Estate Commission.
Licensing Agency
Mississippi Real Estate Commission
P.O. Box 12685
Jackson, MS 39236-0000
(601) 321 6970
info@mrec.state.ms.us
Active Status Active
Continuing Education Continuing education required to maintain license
Criminal Record No criminal record prohibitions
Education Specific course required
Exam State exam required
License Type Stand-alone license
License Updated 08/14/2023
Physical Requirements No physical requirements
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