Out-of-State Brokers and Developers
Three state items on the broker exam (four on the salesperson's). The published subtopics are cooperative agreements and reciprocal licenses; MREC Rule 7.1 on out-of-state developers belongs here too.
Cooperative agreements with an unlicensed out-of-state broker
Section 73-35-11 makes it unlawful for an unlicensed person to perform regulated acts, with one route through: a licensed broker of another state who holds no Mississippi license may cooperate with a Mississippi broker if the commission or fee is stated on a form filed with the Commission. The Mississippi broker carries every obligation. He must file a copy of each written cooperative agreement with the Commission within ten (10) days; MREC Rule 3.1(C) requires a separate agreement for each property, prospective user or transaction. He must require a listing or joint listing, and the listing or property-management agreement stays in his name. He must supervise the showing of the Mississippi property and the negotiations. His name and telephone number must appear in all advertising with equal prominence to the nonresident broker's, and the nonresident may not place a sign on Mississippi property without his written consent. He is liable for the cooperating broker's acts as well as his own, must satisfy himself that the cooperating broker is licensed in the other state, and must hold all the earnest money in escrow unless both buyer and seller relieve him of it in writing. The split is negotiable between the two brokers.
Nonresident licenses and reciprocity
Section 73-35-8 lets a nonresident apply where the applicant is a licensed broker in another state, is a broker-salesperson or salesperson affiliated with a Mississippi broker, or is applying for a broker's license and will maintain a Mississippi office. A nonresident broker need not maintain a place of business in Mississippi if he is regularly and actively engaged in the business and keeps a place of business in the other state. Everything else applies: education, background investigation, examination and fees, and Mississippi continuing education after licensure. The nonresident must file an irrevocable consent that legal actions may be commenced against him in a Mississippi court by service on the Secretary of State or a member of the Commission, must agree to cooperate with any investigation, must furnish certification from the executive officer of his home state's commission and disclose every state where he has held a license, and must obtain a Mississippi license for the firm through which he operates. Section 73-35-13 lets the Commission waive the examination where the other state's examination is equivalent and that state extends the same privilege to Mississippi licensees; the PSI bulletin describes this as a current 'license-for-a-license' reciprocal agreement, and terms vary by state.
Out-of-state developers
MREC Rule 7.1 requires out-of-state land developers wishing to advertise out-of-state property in Mississippi, national publications excepted, first to contact the Commission and have the property approved for advertising. The Commission may conduct an on-site inspection of the property at the developer's cost, and may require documentation establishing the truth and accuracy of the proposed advertisements. A Mississippi broker who becomes the agent or representative of the out-of-state developer is responsible for the truth and accuracy of the representations, offerings and advertising of those properties in Mississippi — the same pattern as the cooperative agreement, with the Mississippi licensee answerable for out-of-state conduct aimed at Mississippi consumers.
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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
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