Navigating the real estate landscape in Mississippi often leads aspiring agents to wonder, ”How much does a real estate agent make in Mississippi?” There’s no one-size-fits-all answer, though, because many variables factor into an agent’s income — from their years of experience and location to current market conditions and more.

This article covers the average real estate agent salary in Mississippi and the key factors that can affect an agent’s earning potential. Understanding your income range can help you set realistic financial goals and succeed in this industry.

Real Estate Agent Salary Mississippi

Numerous factors can influence an agent’s salary. Although the specifics can vary from state to state, the following factors generally apply nationwide:

• Experience: The average salary of real estate agents in Mississippi is $71,263 per year. More experienced agents tend to earn a higher income than their less experienced counterparts
• Location: Properties in some areas cost more than others, leading to larger commissions for agents. The pace of sales in an area also can play a role because an agent who sells a high volume of lower-priced properties can earn as much as — or more than — an agent who sells fewer, high-priced properties
• Market Conditions: In a seller’s market, properties may sell quickly and for high prices thus benefiting agents. Conversely, properties may take longer to sell and sell for less in a buyer’s market thereby reducing an agent’s income
• Specialization: Agents who specialize in certain types of property (e.g., commercial real estate, luxury homes, etc.) may earn more than those who work in more general markets. However, these niche markets also can prove more challenging and competitive
• Work Hours: Real estate isn’t typically a 9-to-5 job. Agents willing and able to work outside the traditional business hours — including evenings and weekends — may have an advantage in terms of their earning potential

In Mississippi, the above factors can interact with specific local considerations like the state’s median home price, economic conditions, population growth, and other regional factors.

Understanding Commissions

Real estate commission structures can vary widely, and they’re often negotiable. The common pay model in many states, including Mississippi, is around 5% to 6% of a property’s selling price. The listing agent (seller’s agent) and the buyer’s agent typically split the commission between themselves.

If a house sells for $200,000 in Mississippi with an agreed-upon commission rate of 6%, for example, the transaction’s commission would total $12,000. Assuming the listing and buyer’s agents split this commission evenly, each would earn $6,000. If one of these agents has a 70-30 split agreement with their brokerage firm, they’d keep 70% ($4,200) of that $6,000 while their broker would get the remaining 30% ($1,800).

Note: Agents also have to deduct their own business expenses, taxes, and other potential fees from their share of each transaction’s commission.

Variable Expenses

A real estate agent’s salary isn’t pure profit because agents incur a variety of business-related costs that can significantly reduce their net income. Some of the most common expenses include:

• Licensing Fees: Agents must maintain their real estate license by completing continuing education courses and paying license renewal fees. They also may have to pay fees for other certifications or designations they choose to pursue
• Marketing and Advertising Costs: This includes costs related to marketing properties (e.g., professional photos, flyers, and open houses) and advertising their services (e.g., online ads, business cards, signs, and website maintenance). Some agents also pay for customer relationship management (CRM) software to help them manage their client base
• Office Expenses: These expenses could include computer equipment, cell phone service, internet service, office supplies, and other similar costs
• Association Dues: Real estate agents often join local, state, and national real estate associations — all of which charge membership dues

Each agent’s situation will look different, depending on their location, how they conduct their business, their broker’s policies, and other factors.

How to Become a Real Estate Agent in Mississippi

Becoming a real estate agent in Mississippi involves following a process set forth by the Mississippi Real Estate Commission (MREC). The requirements can vary, depending on if you’re a Mississippi resident and if you’ve held a real estate license in another state. However, a new agent typically must take these six steps:

1. Complete pre-licensing education. You must complete 60 hours of real estate education at an MREC-approved real estate school.
2. Pass the Mississippi real estate exam. After completing your pre-licensing coursework, you must pass the state’s real estate exam. Administered by PSI, the exam includes both national and state-specific sections. You’ll need to pass both sections in order to apply for your license.
3. Submit your fingerprints and undergo a background check. After passing the exam, you’ll need to have your fingerprints taken and submit to a criminal background check.
4. Find a sponsoring broker. Before you can apply for your license, you also must find a broker willing to sponsor you. This broker will supervise your work and guide you through the process of becoming a full-fledged real estate agent.
5. Apply for your license. Once you have a sponsoring broker, you can apply for your real estate license with the MREC. The application requires you to provide information about your sponsoring broker, proof of your completed pre-licensing education, your exam results, and your background check results. You’ll also need to pay an application fee.
6. Complete post-licensing education. Once licensed, new real estate salespersons must complete a 30-hour, post-licensing course within their first year of licensure.

Obtaining a real estate license in Mississippi will enable you to legally represent buyers and sellers in property transactions. It also ensures you comply with all applicable laws and can offer your clients professional market expertise.