Becoming a Licensed Realtor in Mississippi | The Path to Success

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Mississippi Realtor

In Mississippi, becoming a realtor can be an exciting and rewarding career endeavor. A realtor is a licensed professional representing buyers and sellers in real estate transactions. They often work under the supervision of brokers and are responsible for marketing properties, negotiating deals, and managing the transaction process. As a realtor, you can help people find their dream homes, navigate the complexities of the real estate market, and start an LLC in Mississippi.

However, before starting your journey to Becoming a Realtor in Mississippi, you must complete several steps to obtain your real estate license. This comprehensive guide will walk you through the entire process, so you can confidently begin your new career.

Webinarcare Editorial Team will help you gain knowledge through thorough research and market study. Before becoming a realtor in Mississippi, all the steps in this article must guide you.

How to Become a Realtor in Mississippi

What is a Realtor?

A realtor is a licensed real estate professional member of the National Association of Realtors (NAR) and adheres to their code of ethics. They may work as individuals, within a real estate brokerage, or as part of a limited liability company (LLC) or a corporation. Their services include representing buyers and sellers in real estate transactions, assisting with property management, and providing guidance on real estate investments, including rental properties.

The requirements to become a realtor in Mississippi may vary, but here are the general steps:

  1. Education: Complete the required pre-licensing real estate education courses. In Mississippi, this typically involves completing a certain number of hours of approved coursework.
  2. Examination: Pass the Mississippi-approved real estate licensing exam. The exam tests your knowledge of real estate laws, practices, and ethics. Study materials and exam preparation courses are available to help you succeed.
  3. Application: Submit a real estate license application to the Mississippi Real Estate Commission. This application includes documentation such as proof of education, exam results, background check, and fees.
  4. Background Check: Mississippi requires applicants to undergo a criminal background check. This usually involves providing fingerprints and consent for the background investigation.
  5. Join a Brokerage: Agents must work under a licensed real estate broker in Mississippi. Find a reputable brokerage that aligns with your career goals and values and provides new agents with the necessary support and mentorship.
  6. Membership: Consider joining the National Association of Realtors (NAR) and local real estate associations. Membership offers valuable resources, networking opportunities, and access to multiple listing services (MLS), simplifying clients’ buying and selling process.

It’s crucial to note that real estate licensing requirements can change, and it is recommended to check with the Mississippi Real Estate Commission for the most up-to-date and specific requirements.

Embarking on the journey to become a realtor in Mississippi is not simply about selling houses, it’s about building dreams, yours included. Take the leap and start an LLC. With every property you sell, you’re not just making a living; you’re creating a business that can evolve, grow, and create lasting success.

– WEBINARCARE EDITORIAL TEAM

How to Become a Realtor in Mississippi

Suppose you’re considering becoming a realtor and want to form a professional corporation in Mississippi. In that case, it’s essential to understand the steps and requirements involved in obtaining your license and starting your professional journey. This step-by-step guide will walk you through the entire process of becoming a realtor, from understanding the requirements to choosing a brokerage.

Step 1: Understand The Requirements

Before becoming a realtor in Mississippi, you must understand the requirements to obtain your Mississippi real estate license. Mississippi has unique requirements, so it’s crucial to familiarize yourself with the specific rules and regulations. In general, to become a realtor in Mississippi, you must:

  • Be at least 18 years old.
  • Have a high school diploma or equivalent
  • Complete the required pre-license education
  • Pass the Mississippi real estate licensing exam
  • Submit your application and fees to the Mississippi real estate commission
  • Complete a background check
  • Obtain Errors & Omissions (E&O) insurance

It’s important to note that Mississippi may have additional requirements or prerequisites to become a licensed realtor. Check with the Mississippi real estate commission for the most up-to-date information.

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Step 2: Complete Pre-License Education

To become a realtor in Mississippi, you must fulfill Mississippi pre-license education requirements. Typically, this involves completing a certain number of hours of coursework from an approved real estate school. The curriculum usually covers real estate principles, practices, and laws specific to Mississippi.

When choosing a real estate school, ensuring the Mississippi real estate commission approves them is important. Many schools offer online and in-person courses, so consider your learning preferences when selecting a program. Additionally, consider the school’s reputation and course pass rates, as this can indicate the quality of their instruction. However, you can still enroll in real estate courses before your licensing exam. Here are the real estate courses and schools in Mississippi.

  • Mississippi Real Estate Institute, Real Estate Express, and The CE Shop

Step 3: Pass The Real Estate Licensing Exam

After completing the required pre-license education, the next step is to pass the Mississippi real estate licensing exam. The exam typically consists of two parts: a national portion that covers general real estate principles and a specific portion that covers Mississippi real estate laws and regulations.

To prepare for the exam, consider using study materials and practice exams provided by your pre-license education provider. Additionally, seek out other resources, such as online practice tests and exam prep books, to ensure you’re well-prepared for the test.

On exam day, bring the required identification and any necessary materials. Remember to arrive early to allow for any registration processes, and be prepared to spend several hours at the testing center. Once you’ve completed the exam, you will receive your results. If you pass, you can move on to the next step in the licensing process. If you don’t pass, don’t be discouraged. Mississippi allows multiple attempts, so take the time to review the areas where you struggled and retake the exam when ready. The exam fee is $120.

Make sure to pass the first attempt of the licensing exam.

Step 4: Submit Your Application and Fees

After passing the Mississippi real estate licensing exam, you must submit your license application and fees to the Mississippi real estate commission. The application typically requires you to provide information about your education, exam results, and background check. Be sure to complete the application accurately and thoroughly, as any discrepancies or omissions may delay the processing of your license.

The licensing fee in Mississippi costs $120. However, there are additional costs associated with processing your background check. Review the fee schedule for Mississippi and ensure you submit the correct amount with your application.

Step 5: Complete a Background Check

You must complete a background check as part of the licensing process in Mississippi. This ensures you meet the moral character requirements of the Mississippi real estate commission. The background check typically involves submitting your fingerprints and any necessary forms to the appropriate agency for processing.

Review the guidelines for Mississippi and follow the instructions to ensure your background check is completed accurately and efficiently.

Step 6: Obtain Errors & Omissions (E&O) Insurance

Obtaining Errors & Omissions (E&O) Insurance is required to obtain your real estate license in Mississippi. E&O insurance is a type of professional liability insurance that protects realtors from claims related to mistakes or negligence in their professional services.

If E&O insurance is required in Mississippi, research and select a policy that meets the state’s requirements before submitting your license application. Even if it’s not a requirement in Mississippi, it’s still a good idea to consider obtaining E&O insurance to protect yourself and your business—the costs of obtaining E&O insurance range from $500 to $1,200 per year.

Step 7: Choose a Brokerage and Start Your Career

Once you’ve obtained your Mississippi real estate license, the final step is to choose a brokerage to work under. A brokerage is a real estate firm that employs licensed agents and brokers. As a new realtor, you’ll work under the supervision of a broker who can provide guidance, support, and resources to help you succeed in your new career.

When choosing a brokerage, consider its reputation, commission structure, training and support programs, and company culture. Selecting a brokerage that aligns with your professional goals and provides an environment where you can thrive is essential. You can also find ways to become a realtor by starting a rental property LLC in Mississippi.

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Step 8: Pursue NAR membership

Join the National Association of Realtors to become a realtor. Find your local real estate association and confirm the membership criteria, including an application and an annual fee. If you join NAR, you can enroll in continuing education and other professional courses. You can also access market data and services to help you be more efficient as a realtor.

NAR

Average Income of a Realtor in Mississippi

The average income for a realtor in Mississippi varies depending on experience, location, and market conditions. Still, according to the Bureau of Labor Statistics, the median annual wage for a realtor in Mississippi is around $47,000.

FAQs

How do I become a licensed realtor in Mississippi?
In Mississippi, you need to complete 60 hours of pre-license coursework, pass a state exam and acquire sponsorship by a licensed real estate broker to become a realtor.
How long does it take to become a licensed realtor in Mississippi?
It generally takes three to four months to become a licensed realtor in Mississippi, considering the completion of the pre-license coursework and the licensing exam.
How much does it cost to become a licensed realtor in Mississippi?
The coursework and exam fees amount to roughly $400-600, and other miscellaneous expenses such as background checks and license issuance fee add up to around $200-300.
Should I attend a real estate school for pre-license coursework in Mississippi?
It’s recommended to take pre-license coursework from an accredited real estate school in Mississippi instead of online classes.
Can I take the pre-license coursework online in Mississippi?
Yes, you’re allowed to complete pre-license coursework online, but you have to take a proctored final exam in-person.
How many times can I take the Mississippi real estate licensure exam?
You’re allowed to retake the exam up to four times within six months of applicants. After that, you have to complete another pre-license course.
How difficult is the Mississippi real estate licensure exam?
The Mississippi real estate licensure exam consists of national and state-specific portions and has a 70% pass rate. You need to get at least 75 to pass.
What does a Mississippi real estate broker do?
A Mississippi real estate broker sponsors and supervises realtors, helps in prospecting clients, building relationships with clients and settling deals.
How do I register for the Mississippi real estate licensure exam?
In Mississippi, you need to submit your application and payment with #35 application fee or $60 application and association fees to Pearson VUE, who provides test schedules.
What is the Mississippi real estate license renewal fee?
The Mississippi real estate license renewal fee is $180 minimum yearly, and it expands based on additional expenses like technology fees, publications, etc.
Must a Mississippi real estate salesperson have an e-mail address?
The Mississippi real estate law requires all individuals practicing real estate to have valid e-mail addresses, at a minimum.
Is there a national examination or a state examination for licensure in Mississippi?
In Mississippi, both national (U.S) and state licensure exam must have to pass.
Do I have to reside in Mississippi to become a Mississippi realtor?
No, land does not have Mississippi residency requirements and allows people to acquire licensure if they meet state criteria regardless of residency.
How soon can I begin working as a real estate salesperson after I become licensed in Mississippi?
Once you’re licensed, you can work for a broker name immediately.
How much money can a Mississippi realtor earn?
The amount depends on experience, expertise, marketplace demand, and broker/own commission structure in Mississippi. The median salary of a Mississippi realtor is approximately $46,000.
Do I need to get a Mississippi real estate license to work as a property manager in Mississippi?
No, Mississippi does not require property managers to have real estate licensure to work in their area.
How many post-license hours do I have to complete as a new Mississippi real estate salesperson?
Newly licensed salespeople in Mississippi have to complete 30 post-license hours in twelve months of their licensure.
Must a salesperson provide a copy of documentation verifying completed Continued Education (CE) credits in Mississippi?
Yes, in Mississippi, real estate salespeople have to maintain documentation of their Continuing Education to maintain license status, displayed upon request.
Can non-US citizens become licensed to practice real estate in Mississippi?
Eligibility aligns with Mississipi’s nominal acquisition conditions, and immigration status generally does not impact individuals willing to undergo licensure exceptionally.
How do I search for a licensed Mississippi real estate broker?
The Mississippi Real Estate Commission website has an online tool with lists of licensed real estate brokers with state contact details.
How do I handle consumer complaints as a Mississippi realtor?
Real estate salespeople for Mississippi must give adequate advertisements display contact details for state entities where consumers can initiate complaints.
What happens if I fail the Mississippi real estate licensure exam?
You have up to four retakes for the exam within six months of initial application. After that, you must finish another 2 pre-license program.
What knowledge prerequisites are there to become a Mississippi real estate salesperson?
Mississippi applicants to become real estate salespeople must have a more than high diploma, GED in operating and be at most 21 age, and it gains a Mississippi-sponsorship broker.
Can I practice real estate sales while preparing for the licensure in Mississippi?
No, you can only practice after you gain the sponsorship of a licensed broker in Mississippi.
What is designated agency in Mississippi?
Designated agency, a lesser used process altering people a would-proxy member should have independent representation.
What Is Fair Housing?
It’s the promotion of unbiased home acquisition based on unbiased and banned base characteristics in Mississippi.
What are the broker agents of record likely to do in Mississippi?
Restricted firms and immediate compliance upon recognized violations against said agencies operating under other trusts in Mississippi.
Am I required to provide honest assessments of properties in Mississippi?
Yes, it’s prohibited to misuse clients environmentally, favor-specific conflicts, or provide discriminatory, it’s consequential in Mississippi with uncertain corrective procedural risk, revoked licenses and civil status.
What are the educational requirements to become a realtor in Mississippi?
As per the Mississippi Real Estate Commission, you need to complete 60 hours of pre-license education.
Can you take real estate courses online in Mississippi?
Yes, you can take real estate courses online from an accredited provider.
What is the cost of real estate courses in Mississippi?
The cost of real estate courses varies depending on the provider; it can range from $200 to $600.
Is a high school diploma necessary to become a realtor in Mississippi?
Yes, a high school diploma or equivalent is required to become a realtor in Mississippi.
What are the age requirements to obtain a real estate license in Mississippi?
You must be at least 18 years old to obtain a real estate license in Mississippi.
How long does it take to get licensed as a realtor in Mississippi?
The entire process can take between six weeks to six months, depending on how quickly you complete the required education.
Do you need prior real estate work experience to become a realtor in Mississippi?
No, you do not need prior work experience to become a realtor in Mississippi.
What is the Mississippi Real Estate Exam like?
The Mississippi Real Estate Exam has two parts – state and national – and includes multiple-choice questions.
How many times can I take the Mississippi Real Estate Exam?
You can take the Mississippi Real Estate Exam up to three times.
How often do I need to renew my Mississippi real estate license?
Mississippi real estate licenses must be renewed every two years.
Are continuing education credits required for Mississippi realtors?
Yes, Mississippi realtors must complete at least 16 hours of continuing education during each renewal period.
What is the cost of renewing your Mississippi real estate license?
The cost of renewing is $150 for two years.
Can I get a waiver from taking the Mississippi Real Estate Exam?
Yes, if you have obtained a real estate license in another state previously, you may be eligible for waiver.
Can I transfer my Mississippi real estate license to another state?
Yes, you can apply for a reciprocal license in another state.
How long does it take to receive pocket card post license application in Mississippi?
You can expect to receive your pocket card within five business days of passing the licensing exam in Mississippi.
What’s the role of a broker in Mississippi for a real estate agent?
A broker is responsible for overseeing the work of licensed sales agents or associate brokers; as an agent, you will need to select a sponsoring broker to gain a license.
Can I become a licensed real estate broker in Mississippi?
Yes, you must have been actively licensed as a real estate salesperson for no fewer than 24 of the previous 36 months. It’s also necessary for you to complete 120 hours of broker education to be eligible.
Do I have to have insurance before I practice in Mississippi?
Having Errors and Omissions (E&O) insurance in Mississippi is optional, but it’s highly recommended.
Is there an application fee required to become a licensed real estate agent in Mississippi?
Yes, the application fee costs $120.
Am I allowed to operate a real estate office in Mississippi?
No, you must be licensed with the State of Mississippi as a broker in order to be responsible for other agents.
How soon after completing pre-license education can I schedule the Mississippi Real Estate exam?
You must obtain a Certificate of Education within thirty (30) days after passing one segment before another segment may be passed.
Do I need to pass the National portion of the Mississippi Real Estate exam to get licensed?
Yes, Passing both the National and Mississippi portions of the Licensing Exam are required to get your real estate license in Mississippi.
How does the Mississippi Real Estate Commission score the license exam?
Graduation score is considered necessary for providing the real estate applicant license.
Are any additional fees required for a real estate license in Mississippi?
Besides the education and application fees, there may be additional background check fees required.
Can a felony conviction affect getting a real estate license in Mississippi?
Yes, Commissioner found untrustworthy past of individuals involved with a legal conviction and may refuse licensing or order revocation in such cases.
What’s the average salary of a Mississippi Realtor?
According to Indeed, the average salary of a Realtor in Mississippi is $63,473.
What should I expect from my first year in real estate if I am a Mississippi newbie?
Busily selling real estate can take significant effort for starters sometimes without positive energy.
Is there a scope for opening up a home inspection business in Mississippi?
Yes, you can consider opening up a home inspection business in Mississippi.
Are there any Mississippi-specific topics I need to focus on in real estate courses?
Yes, the real estate courses include Mississippi-specific topics, such as state real estate laws, tax laws, and property regulations.

Also Read

How to Save Money While Starting a Becoming Realtor in Mississippi

One of the most significant expenses that new realtors face is the cost of obtaining a real estate license. In Mississippi, this can run into the hundreds of dollars. To save money on your licensing fees, consider looking for scholarships or grants that may be available for aspiring real estate professionals. Additionally, some real estate agencies may offer to cover your licensing fees as part of their employment package.

Another way to save money while starting out as a realtor in Mississippi is to carefully budget your marketing expenses. While it may be tempting to splurge on flashy brochures and fancy websites, these may not always yield the best return on investment. Instead, focus on building a strong online presence through social media platforms and networking with potential clients. Consider using free or low-cost marketing tools to spread the word about your services.

Furthermore, it’s essential to keep your overhead costs low when starting out as a realtor. Avoid leasing expensive office space and opt for a virtual office or coworking space instead. This will not only save you money on rent but also on utilities and other office-related expenses. Additionally, consider sharing resources with other realtors to lower costs further. By pooling your resources, you can access tools and services that may have been out of reach individually.

Another area where new realtors can save money is by taking advantage of free or low-cost professional development opportunities. Attend networking events, webinars, and workshops to expand your knowledge and skills without breaking the bank. By continuously learning and growing, you can become a more effective and successful realtor in the long run.

Finally, consider forming partnerships with other businesses to save money on services you may need as a realtor. For example, partnering with a photographer or a staging company can help you cut costs on professional photography and home staging services. Additionally, forming alliances with mortgage brokers or home inspectors can lead to potential referrals and cost-saving opportunities.

In conclusion, starting out as a realtor in Mississippi doesn’t have to break the bank. By being strategic and resourceful with your finances, you can save money while still building a successful real estate career. Remember to budget wisely, leverage free or low-cost resources, and seek out partnerships and collaborations to maximize your savings. With a little bit of planning and creativity, you can set yourself up for financial success as you embark on this exciting journey.

Conclusion

Becoming a realtor in Mississippi is a rewarding career choice that offers flexibility, the potential for financial success, and the opportunity to help people navigate the complex world of real estate. Following the steps outlined in this guide and dedicating yourself to learning and growth, you can embark on a successful and fulfilling career as a realtor in Mississippi.

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