Becoming a Mississippi real estate broker is a strong step forward in your career. Not only does this advanced license look great on a resume, it also allows you to work independently, open real estate brokerage firms, and manage other agents within these firms.
Getting the Mississippi Real Estate Broker License is a fairly simple process, but it does require you to complete five steps, and have a few prerequisites before applying or taking the broker’s exam.
This guide covers all of these requirements in a simple, easy to understand way that will make it easier for you throughout this process.
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Mississippi Real Estate Agent vs Real Estate Broker
Mississippi offers two different types of real estate license: Sales and Broker.
A sales agent’s license is the initial license that real estate agents get in order to sell real estate.
A broker’s license is an advanced license that allows the license holder to operate at a higher level within real estate businesses in Mississippi.
People often confuse sales agents and brokers. A simple way to look at the difference is that holders of the sales agent’s license are called real estate agents, while holders of the broker’s license are called real estate brokers.
If you are working towards getting your first license, check out our Mississippi Real Estate License guide. If you’re working on the Mississippi real estate broker license, keep reading this page!
Mississippi Real Estate Broker License Requirements
First, to be eligible for a real estate broker’s license, you must meet the prerequisites to become a real estate broker in Mississippi.
These prerequisites are:
- Must be a resident of Mississippi
- Be at least 21 years of age
- Must have an active sales license for 12 months (one year) before broker’s license application
- Must have 120 classroom hours of real estate courses from a college/community college or from a Mississippi approved pre-license education provider
Once you can show that you have these requirements, you’ll be able to seek your real estate broker’s license.
How to Become a Real Estate Broker in Mississippi
Once you meet all the requirements listed above, you can follow these five steps to easily help you get your real estate broker license in Mississippi.
Step 1: Complete a Mississippi Broker Pre-Licensing Course
The first step to getting your real estate broker license in Mississippi is to take 120 classroom hours of qualifying real estate courses.
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These real estate courses mostly cover the fundamentals of working in real estate and must be completed within one year of your broker’s license application. This requirement is divided into two sections:
The required 120 hours of courses will go over subjects such as:
- Property ownership
- Land use controls and regulations
- General principles of agency
- Valuation and market analysis
- Property disclosure
- Offers and purchase agreements
- Leasing and property management
- Transfer of title
- Real estate calculations
Mississippi offers reciprocity to all states. If you hold an active sales or broker’s license from another state, you may be able to use real estate education credits obtained from your broker pre-licensing education courses.
After completing the courses, you must also pass the final broker course exam. The minimum passing grade is 65%. The final pre-license exam is to be supervised by a proctor, whether on-site or online. This is not the same as the state broker exam.
After passing your broker course exam, your pre-license education provider will provide you with your course completion documents. You will need to submit your Certificate of Completion along with your broker’s license application to the Mississippi Real Estate Commission (MREC).
Step 2: Submit a Mississippi Broker License Application
Once you meet the broker pre-licensing education requirements and pass the course exam, you can now apply for your license.
To submit your broker license application, you must use the Application for Resident Broker’s License.
The fee for the application is $150 and needs to be sent to:
Mississippi Real Estate Commission
LeFleur’s Bluff Tower, Suite 300
4780 I-55, N.Frontage Rd.
Jackson, MS 39211
P.O. Box 12685
Jackson, MS 39236
Fax: (601) 321-6955
Along with the application form and payment, you will also need to include:
- Certificate of Completion of the education requirements
- Letter of reference from your bank(s) indicating a satisfactory banking experience
- Letter of reference from your previous sponsoring broker
- Two photographs
- If you have held or hold a real estate license in any other state, you must attach a Certification of Licensure
Your application then needs to be notarized and received by MREC within 60 days of the notary date.
Step 3: Get a Fingerprint-Based Background Check
After submitting your license application, you must have a fingerprint-based background check.
You will need to fill out an Authorization to Release Information form and pay a fee of $50 to have your fingerprints done.
MREC will then submit your fingerprint card to the Department of Public Safety Criminal Information Unit to perform your background check. You can also have your fingerprints taken at the MREC Office by appointment only.
If you aren’t sure whether you are eligible for a real estate license based on your history, check out our article on Real Estate License Eligibility.
Step 4: Pass the Mississippi Real Estate Broker Exam
After completing the steps above, you must take the real estate broker licensing exam via PSI Exams.
The fee for the broker exam is $75 each for the national and state-specific sections or $75 for both parts taken together. If you fail a section, you can retake each one for $75 regardless of whether you’re taking one or both. You will not be able to take the test without a test sponsor.
In Mississippi, brokers take the real estate broker exam that consists of 80 general questions and 40 state questions. You have 240 minutes to complete the examination, with the national section taking up to 150 minutes and the state section taking up to 90 minutes.
The passing rate is 75% for the Mississippi national real estate broker exam and 80% on the state-specific portion. You need to score at least 60/80 on the national section and 32/40 on the state section.
If you happen to fail the exam on your third attempt, you will need to re-apply to the MREC to determine if you are eligible to resit the examination.
For more information on the exam, PSI provides a Candidate Handbook containing the Mississippi Real Estate Broker Exam Content Outline.
Taking an exam prep course provides you helpful tools and materials, such as quizzes and specific state-only practice exams, to increase your chances of passing your broker license exam the first time.
Step 5: Application Review
After passing your broker exam, you need to wait between three and five days to get your license.
You will receive an email from MREC with the document you need for your licensing. If you need to know the status of your application, you have the option of emailing MREC at firstname.lastname@example.org or calling (601) 321-6970.
Now that you’ve successfully passed the broker licensing exam and obtained your license, there are a few things you need to do to keep your broker license active and updated.
Mississippi Real Estate Broker License Renewal and CE
In Mississippi, you need to renew your real estate broker license every two years. The renewal fee is $150.
As part of the renewal process, you will need to complete 16 hours of continuing education (CE) over the course of two years. The classes you need to complete include:
- Mississippi License Law
- Contract Law
- Agency Law
- Elective classes of your choice
Mississippi Post-Licensing Education
You are also required to take a 30-hour post-licensing education (PLE) course prescribed by the MREC. The PLE courses are different from your CE classes.
In the PLE course for broker licensees, you must complete 24 hours of the 30-hour coursework in the following subjects:
- Managing escrow accounts
- Intra-office confidentiality
- Broker responsibilities to licensees
- Office policies and procedures (including agency office policies)
- Broker agreements with licensees and assistants and MREC required forms
The remaining six hours will be in subjects meant to improve the competency of brokers, such as management, recruitment, budgeting, retention, financial planning, and more.
If you have successfully completed the PLE courses and have been issued your permanent broker’s license, you won’t have to take the 16-hour CE courses for the first renewal of your broker’s license.
MSREC – Mississippi Real Estate Commission
Mississippi Real Estate Commission
LeFleur’s Bluff Tower, Suite 300
4780 I-55, N. Frontage Rd.
Jackson, MS 39211
Hours: Monday to Friday, 8:00am-5:00pm
Phone: (601) 321-6970
Mississippi Real Estate Broker License FAQ
How much does it cost to get a real estate broker license in Mississippi?
The costs of getting a real estate broker license in Mississippi can range between $484 and $674.
The cost breakdown is as follows:
Pre-license education courses: $209-$399
Application fee: $150
Fingerprint-based background check: $50
Broker exam fee: $75
How long does it take to get a real estate broker license?
The steps that typically take the most time when getting a broker license include taking pre-license education courses and exams. The average amount of time to get a broker license is generally three to six months.
What is the difference between a real estate agent and a real estate broker?
Real estate agents focus on working with clients on individual real estate transactions, while real estate brokers have more experience with the added responsibility of managing a team of real estate agents or brokerage business. See our Real Estate Agent vs. Broker vs. Realtor page for more information.
How much does a real estate broker make?
Real estate brokers get paid just like real estate agents by earning commissions on their agents’ sales. Brokers can also charge the real estate agents they manage a fixed monthly fee or have the option to earn money on commission sales by helping their own clients buy and sell property. According to Payscale data, brokers earn $61,314 per year in base salary, with anywhere between $10,000 and $147,000 in commissions. The Bureau of Labor Statistics (BLS) indicates that the median broker salary is $62,010.
How do I get a job as a real estate broker in Mississippi?
Browse through available real estate broker jobs in your area using our StateRequirement Job Board!