Agency Disclosure and Duties to Parties
Eight state items — the heaviest single area on the Mississippi broker portion, and the one that changed most in 2026. Sources are MREC Rules 4.1 to 4.4, MREC Agency Disclosure Form A ('Working With A Real Estate Broker'), and the new brokerage-agreement act.
The 2026 brokerage-agreement act: Mississippi went the other way
SB 2713 (2026 Reg. Sess.), ch. 349, Section 1, eff. 2026-07-01, is codified within Chapter 35 of Title 73 but has not yet been assigned a section number — MREC's own compilation prints it under the heading 'Section 73-35-__ (Needs catchline)', so cite the act rather than a section. It provides that a licensee 'shall not be required to enter into a brokerage agreement with a customer who is a prospective buyer in order for a licensee to provide a tour of a property to that prospective buyer,' and that 'a written brokerage agreement shall be required prior to a licensee either listing for sale or submitting an offer on a property on behalf of a client or customer for compensation.' Two further carve-outs: no buyer brokerage agreement is required of a seller's agent conducting an open house as to prospective buyers, or as to a buyer customer for whom a seller's agent presents an offer while acting solely for the seller without compensation from the buyer. The act applies only to one-to-four-unit residential property transferred by or with the aid of a licensee, with the same exclusions as the disclosure article. SB 2748 the same session added Section 73-35-3(4), defining a brokerage agreement as a written agreement between a broker and a consumer that establishes a brokerage relationship and states the terms, conditions and compensation. Note the year: the 2025 bills numbered SB 2713 and SB 2748 were a food-stamp bill and the Medical Cannabis Act.
When and to whom disclosure is made
In a single agency, written disclosure to the party the broker represents must be made before the agreement for representation is entered into, on an MREC Agency Disclosure Form (Rule 4.3(A)). Written disclosure to the party the broker does not represent must be made at the first substantive meeting, on the same form (Rule 4.3(B)). Rule 4.2(H)(1) defines the first substantive meeting for a seller's agent as before or just immediately prior to the first of: showing the property to a prospective buyer; eliciting confidential information from a buyer about needs, motivation or financial qualifications; or executing any agreement governed by Section 73-35-3. Rule 4.2(H)(2) excludes a bona fide open house or model home showing that involves nothing more than the showing, preliminary small talk about price range, location and styles, and answers to general factual questions about advertised property — but the carve-out ends the moment confidential information is elicited. Rule 4.3(C) requires new forms if the relationship changes; Rule 4.3(D) permits oral disclosure where a party is unavailable, with the form annotated and forwarded; Rule 4.3(E) tells the broker how to annotate a form a party declines to sign; Rule 4.3(G) forbids altering the mandated form. Rule 4.4 excuses disclosure entirely in transactions with corporations, LLCs, partnerships, REITs, business or charitable or family trusts, and governmental entities, without displacing the common law of agency.
Dual agency and duties owed
A disclosed dual agent represents both parties with the informed consent of both and a written understanding of the duties owed each (Rule 4.2(F)). Rule 4.3(B) deems consent timely where the seller signs the Consent To Dual Agency portion of MREC Form A when the seller's representation agreement is entered into, the buyer signs the same portion at the equivalent moment, and the broker confirms understanding on the MREC Dual Agency Confirmation Form — the buyer's before the offer is signed, the seller's before it is presented — with the form attached to the offer regardless of outcome. A dual agent keeps every fiduciary duty except full disclosure and undivided loyalty, and Form A bars four specific disclosures without written instruction: that the seller will take less than the listed price, that the buyer will pay more than the offered price, either party's motivation, and that a party will accept other financing terms. Rule 4.2(G) sets out the six fiduciary duties owed a client — loyalty, obedience, disclosure, confidentiality, reasonable skill and care, and full accounting — with confidentiality surviving termination of the relationship. A customer, defined in Rule 4.2(E) as a person not represented, is owed honesty and fair dealing. Rule 4.2(D) warns that compensation, considered alone, does not determine agency: the relationship can arise whoever pays, or if nobody pays.
Keep going: the full Mississippi Real Estate Broker guide covers every section of the exam. Mississippi Real Estate Broker Exam Study Guide (2026) — PDF + EPUB, $19.99 · 14-day refund →
State-specific details
State exam facts
- State regulator
- Mississippi Real Estate Commission (MREC)
- Exam vendor
- PSI
- Prelicensing education
- 120 classroom hours (150 without 36 months of active salesperson experience)
- Passing score
- 75% national (60 of 80 points) and 80% state (32 of 40 points)
- Scored questions
- 115
- Time limit
- 240 minutes
Who regulates real estate brokers in Mississippi?
The Mississippi Real Estate Commission (MREC) licenses brokers and salespersons under the Real Estate Brokers License Law, Miss. Code Title 73, Chapter 35. MREC contracts with PSI to deliver the licensing exams.
What experience do I need before the Mississippi broker exam?
Miss. Code § 73-35-7 requires a resident broker applicant to be at least 21, legally domiciled in Mississippi, to have held an active salesperson license for the 12 months immediately preceding application, and to have completed 120 classroom hours of real estate courses. An applicant who has not held an active salesperson license for at least 36 months must instead complete 150 classroom hours in courses acceptable for degree credit at a college approved by the Southern Association of Colleges and Schools. MREC also requires a letter of reference from the applicant's bank.
How is the Mississippi broker exam structured?
PSI delivers 115 scored questions in two separately timed and separately scored portions: a 75-question national/general portion scored to 80 points in 2.5 hours, and a 40-question Mississippi state portion worth 40 points in 1.5 hours, 4 hours in total. You must pass each portion on its own — 75% (60 of 80 points) on the national and 80% (32 of 40 points) on the state. That 80% state cut is the strictest of any state we have measured.
What is on the Mississippi state portion?
PSI Candidate Information Bulletin 2348 publishes nine areas with their broker item counts: Powers and Duties of the Real Estate Commission (4), Licensing Requirements and License Maintenance (4), Property Condition Disclosures (6), Agency Disclosure and Duties to Parties (8), Out-of-State Brokers and Developers (3), Trust Accounts (3), Broker Responsibilities Including Supervision of Sales Associates (5), Records and Documents (4), and Advertising/Marketing/Internet (3).
Sources: https://test-takers.psiexams.com/api/content/bulletin/2348, https://www.mrec.ms.gov/wp-content/uploads/2026/07/MREC_LICENSE_LAW_2026_REVISED-7-01-2026.pdf, https://www.mrec.ms.gov/wp-content/uploads/2025/02/MREC_RULES_AND_REGULATIONS_REV_02-21-2025.pdf
In the Mississippi Real Estate Broker guide: A 60-question national practice exam, with a key that explains all four options and not just the right one. Practice here stays free.