Working as a real estate agent comes with many advantages. Many agents who decide to start their journey of becoming a real estate agent in Mississippi start on the quest to build a business that offers more of a flexible schedule.
Others want to simply break the glass ceiling and enter a career that rewards them for all the hard work and effort they invest into it. If you are tired or feel stuck in an unrewarding job now might be the perfect time to chase your goals and become a real estate agent.
Do you have what it takes to work as a Mississippi Real Estate Agent? If yes, let’s dive into the basic steps of getting your real estate license in Mississippi.
How To Become A Real Estate Agent In Mississippi
- You must be at least 18 years or above age
- You must complete 60 hours of Mississippi approved pre-licensing education
- You must pass the course final exam with at least 70%
- Find a broker, as you must attach an affidavit of a sponsoring broker to appear in the Mississippi Real Estate exam.
- Apply for Mississippi Real Estate license
- Appear in the Mississippi Real Estate Exam
- Successful pass the exam with 70% or higher
- You will get a temporary license
- Complete a 30-hour post-license course
- Apply for permanent license
Choose Your School And Sign Up For Classes
Before you can start listing million dollar homes the very first step toward getting your Mississippi License is choosing your classes and completing the mandatory educational requirements set by the state to become a real estate agent.
Mississippi Real Estate Classes
Get ready for some classroom time! To become a licensed real estate agent in Mississippi you must first complete your state’s mandatory education requirements. In total you will be required to complete 90 hours of state approved courses, 60 hours for pre-licensing and 30 hours post-licensing.
Click here for state approved real estate classes and pricing. The good news is that the state of Mississippi allows you to take a portion of your real estate classes online. This is great because it will allow you to complete the course at your own pace and even possibly speed up the process if you put in the hard work.
Mississippi Pre-licensing Education Requirements
You must complete 60 hours of state-approved real estate pre-license education. You must take a comprehensive 60-hour pre-license on real estate principles and practices. It’s a mandatory course to sit for the estate exam.
Keep in mind you must score a 70% or higher on each final exam. So, it is important to pay close attention in class.
You have to attend a 30-hour post license course within 12 months of passing your Real Estate exam. This course is divided into seven modules and will cover
This course is completed after obtaining a temporary license and must be completed within 12 months to obtain permanent license.
What Will I Learn In My Pre-License Classes?
I remember sitting in my real estate pre-licensing class. For many, real estate is like learning an entirely new language. In class you will learn many new things. One of the most important being state laws as they relate to you as a real estate agent. This will help keep you out of legal trouble once you get out in the field and start practicing real estate. Here are some subjects you will learn about in real estate school.
- Real estate math
- Land use laws and regulations
- Fair Housing laws
- Real Estate Financing
- Contracts
- Transfer of title
- Brokerage relationships
- Disclosures
- Property analysis
- Rules of the Iowa Real Estate Commission
- License law
- Ethics
- Agency Laws
To become a licensed real estate agent in Mississippi you must first complete your state’s mandatory education requirements. In total you will be required to attend 90 hours of state approved courses for licensing.
Schedule Your Mississippi Real Estate Salesperson License Exam
In Mississippi your real estate exam will be taken with PSI Exams. It is recommended you call and schedule with a customer service representative. Here are a couple important things to know.
- This test can be taken by computer at the testing center.
- This is not an open book test.
- Tests must be scheduled at least one day in advance.
Current PSI Test Locations in Mississippi: Testing Locations
Mississippi Real Estate License Background Check
Any person applying for a Mississippi real estate license must be fingerprinted and pass a background check. The current cost of background checking is $ 24.95 to $ 59.95, depending on whether you check a state or national background.
According to Mississippi law, every real estate agent must complete a background check. The background checking process takes around 30 days to complete. But you can apply for the background check once you submit your fingerprinting card. So, it’s better to get the latter done first.
What Is The Best Way To Study For The Mississippi Real Estate Exam?
Many people fail the Mississippi real estate exam the first time around. This is ok. Many of the great real estate agents having huge success today failed their exam the first time around. The bad news is that it costs money to retake your exam. At the time of writing it is $75 to take the Mississippi Real Estate Exam.
To increase the chances of passing your exam the first time we recommend checking out Prep Agent. This study tool gave me and many other agents a huge boost in confidence when taking the real estate exam.
In fact, Prep agent is so confident in their study tool that they offer a 100% refund if you use the tool and fail your real estate exam.
What Do You Need To Bring When Taking The Exam At A Testing Center?
Don’t show up on test day only to be turned down. You will need to bring two forms of identification that have not expired and have a matching name and signature. One form of identification must have a photo to qualify. Here are some examples of accepted identification.
- Driver’s license
- US social security card
- Passport
- Debit Card with Signature
- Credit Card with Signature
- Green Card
You are allowed to bring a basic non scientific calculator that can be used for the math portion of the exam.
How Long Will I Have To Complete The Mississippi Real Estate Exam?
The exam consists of two portions:
- General (National) Portion – 150 minutes
- State Portion – 90 minutes
- Total Time – 240 minutes
There are a total of 120 questions for these 4 hours.
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- National – 80 questions
- State – 40 questions
- Total – 120 questions
The Mississippi Real Estate exam is divided into two parts: general (national) and state. You will have a total of 240 minutes to complete both parts (4 Hours).
You will have 90 minutes to complete the Mississippi State portion of the exam. You will have 150 minutes to complete the national portion of the exam. Some people even complete their exam early. Do not stress you have four hours to focus and get this done.
Note: To clear the exam, you must score 70% or above in the general portion and 75% or above in the state portion. So, you need 56 out of 80 marks in the National section and 30 out of 40 marks in the State section.
Pass Or Fail- How Long Does It Take To Get Results?
Taking the real estate exam can be nerve racking. Once complete we all become anxious and want to know if we passed or failed the big test. The good news is that you will know the results immediately after you complete your exam.
Can I Retake The Real Estate Exam If I Fail?
Yes, If you fail, you can retake the real estate exam only for the portion you failed. If you failed the state portion, you could retake the exam twice within 2 months of your application being approved for the Real Estate Exam. However, if you passed the state portion and failed the national portion, you can retake the exam for the national portion unlimited times within two months.
If you failed in state exams twice, you have to wait for three months to retake the exams, and submit the retake fee of $ 75.
But stay positive, many agents have failed the real estate exam multiple times and have gone on to have very successful careers.
How Long Does It Take To Become A Licensed Real Estate Agent In Mississippi?
I am sure you are excited and want to get licensed ASAP. You should expect the process to take about 4 to 5 months to become a Mississippi Real Estate Agent. The two most time intensive parts of the process are completing your 60 hours of real estate pre-license classes, then completing your background check and examination can take up to 3-6 months. But, since the pre-license course is self-paced, you can get eligible for a license in two months if you work that hard.
Aside from just completing your real estate classes and studying you will need to spend your time doing other important things like interviewing brokerages and deciding which one is the right fit for you and your new business.
This is just an average timeframe. Keep in mind everyone works at a different pace. If you are taking some of your courses online you may be able to work through the course work a little faster or maybe it takes you a little more time to get through the course work.
Either way try not to overwhelm yourself and focus on getting a little further along in the process each day. Many people set out on the journey to become a Mississippi agent and quit before they even start because they simply overload themselves with work. Keep the focus on working toward your goal little by little each day.
How Much Does It Cost To Get A Mississippi Real Estate License?
It will cost around $570-$700 to get your Mississippi Real Estate License. Some of these costs are fixed, such as the fingerprint and exam fee.
- $50.00 fingerprint fee
- $24.95-$59.95 for background check
- $75 for Mississippi Sales Associate exam fee
- $120 for the license application fee
- $300-$400 for pre-license courses and post-license courses
Total Mississippi Real estate license cost estimates $705.
Sign up for Mississippi Real Estate Classes Here: Real Estate Express
Note- These are just averages and subject to change at any time.
Does Mississippi have reciprocity with any other states regarding a real estate license?
No, Mississippi has no reciprocity with any of the 50 US states.
How to Choose the Right Brokerage?
Selecting your broker is a business choice that we all have to make at some point in our career. As a new agent you likely do not know what to look for or what questions to ask. As an experienced agent who has worked at multiple offices here are some things to consider.
Training- This is important. One of the biggest complaints I hear from new real estate agents is how lost they often feel. Many times they feel the brokerage they choose to partner with has poor mentorship or even worse no mentorship at all. When interviewing brokers it is important that you ask if they have a mentorship program in place for new agents. If the answer is yes make sure you dig deeper and ask how the program works. What are the expectations for the new agent and what are the expectations for the mentor. You need to find out how much support and training they actually provide.
Splits- Every brokerage offers a different compensation model and as a new agent this is important to consider. However, do not make this your main focus. I see many new agents make commission splits the main reason they choose a brokerage. This can be a huge mistake. Focus on what kind of value and training is being offered for that split. The harsh truth is that 100% of nothing is still nothing.
On going monthly fees- Some brokerages charge monthly fees to stay apart of the company. This is something to consider if you have a small savings account. As a new agent you might be looking to stretch your dollar until you get a couple closings under your belt. Joining a company with high ongoing monthly fees can put a dent in your savings account.
Commission Cap- This is in the same boat as commission splits in my opinion. As a new agent this should not be your main focus. You should be focused on support and training. However, as a business person it is a question you should be asking. Some brokerages will cut off your commission fees once you “cap”. Every brokerage and market is different but on average we have seen the brokerage cap between 14k-21k. Once you pay that amount into the brokerage your commission will shift to 100% in some cases with a small broker transaction fee.
Conclusion
Becoming a real estate agent in Mississippi is something worth working towards. To make this all happen it is going to require work and consistency but if you love the idea of selling homes in Natchez, Vicksburg, Oxford, or any other city in Mississippi it is worth all the effort and hard work to make your dream become a reality. Study hard and do not quit even if you fail your exam the first time around. Many of the greatest agents I know today in my local market did not pass the exam the first time around.