Information – Real Estate License MS from the Real Estate Training Institute
In the United States, real estate brokers and salespersons are licensed by each state, not by the federal government. Each state has a “commission” who monitors and licenses of brokers and agents.
There are state laws defining the types of relationships that can exist between clients and licensees, and the lawful duties of licensees to represent clients and members of the public.
Rules vary substantially as defined by the law from state to state, for example, on subjects that include what legal language is necessary to transfer property, agency relationships, inspections, disclosures, continuing education, and other subjects.
In most jurisdictions, a person must have a license meaning they have studied realty laws before they may receive compensation for services rendered as a realty broker or agent.
Unlicensed activity is illegal and the state commission has authority to fine people who are acting as a realty licensee. Buyers and sellers acting as principals in the sale or purchase their own properties are usually not required to be licensed.
It is important to note that in some states, lawyers handle sales for compensation without being licensed as brokers or agents.
To become licensed, most states require that an applicant take a minimum number of classroom hours to study realty law before taking the state licensing exam. Such education is often provided by educational companies, who are typically licensed to teach such courses within their respective states.
The courses are designed to prepare the new licensee primarily for the legal aspects of the practice of transferring estates and to pass the state licensing exam.
This is what Real Estate Training does. We have the real estate license classes consisting of the mandatory topics and hours of education. Real Estate Training has everything you need for your license education. We have our main campus on the Mississippi Gulf Coast in Biloxi. Courses are also in the cities of Hattiesburg, Oxford and Southaven.
The first step to get your real estate license is to attend the Pre-Salesperson’s real estate license class.
Classes Qualifications for License
Every applicant for a resident license as a 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.
The license course begins on a Monday (unless there is a holiday) and continues to the Friday of that week.
It picks up the following Monday with the final being on Thursday.
Schedule a 60-hour class.
Complete the application (including pictures).
Get the application notarized.
Pass the school’s exit exam.
Attach your Salesperson’s License Course Completion Certificate to the application with a check for $120.
Send the completed application, certificate and check to the Mississippi Real Estate Commission.
You will be sent a letter with a phone number and website where you can schedule your exam.
The testing company will require a credit card to charge $75 for both exams. (General Portion and Mississippi State Specific Portion.)
Pass the exam 70% on the General Portion and 75% on the State Specific Portion.
Find a broker. Hand the broker the form to send in your information to Mississippi Real Estate Commission.
CONGRATULATIONS You’re Done with your first step.
Salesperson – Post License Course
Mississippi Real Estate Licensees have 12 months after receiving their temporary license to take this course.
This course fulfills your MREC Real Estate Agent Post-Licensing Educational Requirements for Salespersons.
The Real Estate Training information for the Post Licensing Real Estate Classes are as follows:
You can only take 8 hours a day of courses. This course must take you at least 3 to 4 days. When you have completed the self-scoring exams, please call RETI for your certificate.
The following are the required courses:
1. Agency Relationship
3. Earnest Money
5. Fair Housing
7. Property Condition Disclosures
8. Your electives (6 hours) courses will be Property Management, Mortgages, Leases, Environmental, and Property Inspections.
Want to be a Mississippi Real Estate Broker?
License Classes for Broker
To become a Mississippi Real Estate Broker, an applicant:
shall be subject to the jurisdiction of this state,
subject to the income tax laws and other excise laws, subject to the road and bridge privilege tax laws.
shall not be an elector in any other state.
shall have held a license as an active salesperson for twelve (12) months immediately prior to making an application for the broker’s examination.
shall have successfully completed a minimum of one hundred twenty (120) hours of courses in real estate.
shall have successfully completed the broker’s examination as hereafter specified.
An applicant for a Mississippi real estate broker’s license must pass the broker’s examination with a grade of at least 80%.
The course traditionally begins on a Monday and continues to the Friday of that week.It picks up the following Monday with the final being on Thursday.
Post Licensing Educational Requirements
30 Credit hours
You are required to take 30 hours of Post license education within one year of passing your Broker’s exam.
You can only take 8 hours a day of courses. This course must take you at least 3 to 4 days.
When you have completed the self scoring exams, please call RETI for your certificate.
The following are the required courses:
1. Managing Escrow Accounts
2. Inter Office Confidentiality
3. Broker Responsibilities of Licensees
b. Office Policies and Procedures
4. Broker Agreements with Licensees and Assistants
5. Mississippi Real Estate Commission Required Forms
6. Mississippi Realty License Law
7. Electives (6 hours)
Some U.S. states have reciprocity agreements in place allowing licensees from other states to become licensed in that state. Details of each reciprocal agreement vary from state to state. Some states have education requirements that must be met by the agent while others require only that the agent fill out a reciprocal license application with the State.
Real Estate School – Classroom Classes & Online Courses
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