Mississippi Real Estate Salesperson Exam — All Questions

Mississippi requires a licensee to provide the agency disclosure describing who the broker represents:

• a.Only after the closing
• b.Only when the buyer requests it
• c.Within 30 days after a listing expires
• d.At the first substantive meeting concerning a specific property, before confidential information is exchanged✓

Mississippi requires the licensee to provide the agency disclosure form describing the brokerage relationship at first substantive contact concerning a specific property, before confidential information is exchanged. Early disclosure lets a buyer or seller understand whether the licensee represents a party before sharing negotiating information. The disclosure identifies whether the licensee is a seller's agent, buyer's agent, or dual agent.

Under Mississippi law, a broker may act as a disclosed dual agent representing both the seller and the buyer only if:

• a.The sale price is under a statutory ceiling
• b.Both parties give informed written consent to the dual agency✓
• c.Each party is represented by a different attorney
• d.The property is agricultural land

Mississippi permits disclosed dual agency, in which the same broker represents both the seller and the buyer, only with the informed written consent of both parties. Because a dual agent cannot fully advocate for either side, the licensee must not disclose one party's confidential information, such as the highest price a buyer will pay, to the other.