Broker and real estate agent in Mississippi: how to become a real estate broker

A real estate broker in Mississippi holds a license to operate independently, supervise salespersons, and manage a real estate business. The path from salesperson to broker requires 120 hours of real estate education, at least 12 cumulative months of active salesperson experience, a passing score on the two-part broker exam, and a $100 application to the Mississippi Real Estate Commission (MREC). A broker is a state-licensed role, while a REALTOR® is a membership designation through the National Association of REALTORS®; the two terms describe different things.

Broker vs. salesperson vs. real estate agent in Mississippi

A real estate broker is licensed to operate independently and supervise salespersons, while a salesperson must work under a broker's supervision and cannot run a real estate business alone. Mississippi License Law Section 73-35-3^[1] defines a salesperson as any person employed by, or associated as an independent contractor with, a licensed real estate broker. The broker exam covers the same topics as the salesperson exam but is "of a more exacting nature and require[s] higher standards of knowledge," according to Section 73-35-13(1)^[1] of Mississippi License Law.

The term "REALTOR®" is not a license type. A REALTOR® is a real estate professional who holds a state license and also belongs to the National Association of REALTORS®. Both brokers and salespersons can become REALTORS® by joining the association.

Mississippi issues a single real estate license category that covers all property types, including residential and commercial. There is no separate commercial real estate license. To become a broker, you must first hold a salesperson license, which requires meeting Mississippi's salesperson eligibility requirements and passing the salesperson licensing exam.

Mississippi broker license eligibility requirements

Mississippi broker applicants must be at least 21 years old, have legal domicile in Mississippi, and have held an active salesperson license for at least 12 cumulative months before applying. Section 73-35-7^[1] of Mississippi License Law sets these requirements. The 12-month experience requirement is cumulative, meaning the active licensure periods can be non-consecutive. A 2020 legislative amendment (House Bill 1212) removed the word "immediately" from the statute, so the experience does not need to be immediately before application. The MREC Resident Broker License Application^[2] confirms this by specifying "(cumulative)."

All broker applicants must pass a fingerprint-based criminal background check covering both Mississippi and FBI databases, per Section 73-35-10^[1]. MREC will not issue a license to anyone who has had a real estate license revoked or been convicted of a felony within the 5-year period preceding application.

Applicants must also provide recommendations from at least 3 citizens who have been property owners for at least 3 years, have known the applicant for 3 years, and are not related to the applicant, under Section 73-35-9(2)^[1]. Broker applicants must furnish a letter of reference from their bank and, if currently employed as a salesperson, a letter from their present responsible broker, according to the PSI Candidate Information Bulletin^[3].

Broker pre-licensing education requirements

Under Section 73-35-7(e)^[1] of Mississippi License Law, broker candidates must finish the statutory total of approved real estate coursework. This encompasses the salesperson pre-licensing curriculum and broker-specific content, with the broker portion split into segments called Broker A and Broker B that can be taken in any order, according to the Mississippi REALTORS® Institute^[4].

Alternate pathway without salesperson experience

Applicants who have not held an active salesperson license for at least 36 months before applying must complete 150 classroom hours of real estate courses from a degree-granting program at a college or university approved by the Southern Association of Colleges and Schools, per Section 73-35-7^[1]. The PSI Candidate Information Bulletin^[3] notes that 3 semester hours of college credit usually equals 45 classroom hours.

Mississippi caps pre-licensing coursework at 8 hours earned per day, per Section 73-35-14.3(4)^[1]. For college credit equivalency, a semester-hour credit equals 15 classroom hours, and a quarter-hour credit equals 10 classroom hours. This alternate pathway bypasses the salesperson experience requirement but requires significantly more education.

Submitting your broker license application

The broker license application requires a $100 fee, a notarized application form, and several supporting documents submitted to MREC. The Resident Broker License Application^[2] (Rev. 07-2024) lists the required items:

If licensed in another state, you must include a Certification of Licensure from that state's real estate commission, not a copy of the license. MREC's Applicants Hub^[5] provides contact information and directs candidates to PSI for exam scheduling.

The Mississippi broker licensing exam

PSI Services LLC administers the Mississippi broker exam, which consists of a General (national) portion and a State portion, together totaling 115 questions and 4 hours of testing time. The exam fee is $75, covering both portions, according to the PSI Candidate Information Bulletin^[3]. The following table summarizes the exam format:

The General portion includes questions scored up to 2 points, which is why 75 questions yield 80 points. The MREC Rules and Regulations^[6] (Rule 1.1.A) set the passing scores at 75% for the national portion and 80% for the state portion.

Both portions must be passed within the same 2-month eligibility period. If you fail to appear within that window, your fee is forfeited and your file is closed. You may sit for the state portion only twice during the eligibility period. If you pass the state portion but fail the national, you can retake the national portion on an unlimited basis within the 2-month period.

If you fail the state portion twice, you must wait 6 months before reapplying, per Section 73-35-13(3)^[1] of Mississippi License Law. The exam may include 5 to 10 unscored experimental questions, and the time for those does not count against your exam time.

The 36-month hiring restriction for new brokers

New Mississippi brokers cannot hire salespersons for 36 months from the date their active salesperson license was approved, unless they meet specific experience or education thresholds. Section 73-35-7(h)^[1] requires broker applicants to sign a form under penalty of perjury stating they will not hire salespersons during this period.

Two exceptions exist. Brokers who have 36 months of cumulative active salesperson experience before applying are exempt from the restriction. Applicants who complete the alternate 150-hour education pathway from a degree-granting program are also exempt. This means the 150-hour route not only bypasses the 12-month experience requirement but also removes the hiring restriction entirely.

Post-license education and insurance for new brokers

After passing the broker exam, MREC issues a temporary broker license valid for one year following the first day of the month after issuance, per Section 73-35-14.5^[1]. The temporary license holder must complete post-license education before receiving a permanent license.

The broker post-license curriculum also mandates coursework in trust account management, office administration, personnel agreements, and commission form compliance, with a minimum of 24 hours dedicated to these topics, per Section 73-35-14.5(4)^[1]. Failure to complete the post-license course places the temporary license on inactive status.

Once the post-license course is completed and the permanent license is issued, the broker is exempt from continuing education for the first renewal of the permanent license, per Section 73-35-14.5(5)^[1].

All active Mississippi licensees, including brokers, must carry errors and omissions (E&O) insurance with a per-claim limit of at least $100,000 and an aggregate limit of at least $100,000, under Section 73-35-16(5)^[1]. The maximum deductible is $2,500 per licensee per claim for damages and $1,000 per claim for defense costs. If MREC cannot obtain coverage at a premium of $250 or less per 12-month period, the insurance requirement is void.

Next steps after becoming a Mississippi broker

After receiving your permanent broker license, your next steps depend on whether you plan to open your own brokerage or continue under an established firm. If you meet the 36-month experience or 150-hour education threshold, you can hire salespersons and operate independently. If you are subject to the hiring restriction, you can still perform all broker-level real estate activities without employing salespersons.

To maintain your license, budget for the broker renewal fee of $100 per renewal period, which increases to $150 effective October 1, 2026, according to the MREC fee change notice^[7]. Late renewals incur a 100% penalty. After the first renewal (which is exempt due to post-license education), brokers must complete 16 hours of approved continuing education per 2-year renewal cycle, per Section 73-35-18^[1]. Up to 6 CE hours earned in the final 3 months of a renewal period may carry over to the next cycle.

Contact MREC at (601) 321-6970 or visit their office at LeFleur's Bluff Tower, Suite 300, 4780 I-55 North, Jackson, MS 39211 for application questions. The MREC Applicants Hub^[5] provides PSI scheduling information and study resources.