Educational Resources: Take Mississippi Real Estate Sample Tests, Application Steps and Tips

The Mississippi State’s Real Estate Exam is made up of two sections including:

• The national property law part
• Mississippi State law part

The first section has questions about the laws and regulations governing properties at the national level. On the other hand, the state section delves more into Mississippi’s real estate laws and regulations.

The exam is set for four hours, 2.5 for the first section and 1.5 for the second. There are a total of 120 questions to be answered within that time frame.

This includes 80 questions for the first part and 40 for the next.

The pass mark for the first part is 56 correctly answered questions. As for the second one, you must achieve at least 30 correct answers.

With that, you are one step shy of your real estate agent’s license in Mississippi. There are some areas you must have in-depth knowledge in before sitting for the exam.

For example,

1. MREC and Licensing Requirements
2. Real Estate Calculations
3. Mississippi Real Estate Agency
4. Financing
5. Property Disclosures
6. How Mississippi governs the activities of licensees
7. Property Ownership

All 120 questions cover topics that relate to real estate laws in Mississippi.¹

Mississippi Real Estate Commission License Application Procedure: A Guide in 5 Steps

The MREC is the body that certifies you as a real estate agent in the state. However, you must complete the following steps to become a real estate agent:

Step 1: Mississippi Real Estate Pre-Licensing Course

Here is a common question among aspiring real estate agents.

Do you have to go to school to be a real estate agent? Yes.

Before anything else, you must complete the state’s pre-licensing course. For Mississippi, this requires a 60-hour real estate course.

It must be from a recognized college or pre-license course provider approved by Mississippi State.

You can attend in-person real estate classes, although most prefer online ones. Online pre-licensing real estate courses are more convenient.

They allow you to complete the course at your own pace.

Step 2: Apply for the Real Estate Agent License

Completing the pre-licensing course is just the first step. Once you finish your course, you must apply for the license.

Look for the Mississippi real estate agent license application form and fill it out as required. You should then submit your complete form to the Mississippi Real Estate Commission.

However, you should ensure that you have answered all the questions correctly. This eliminates the chances of your application being returned.

Also, you need to attach your certificate of completion during the application. This proves that you have completed your pre-licensing course.

It includes the grade report, official transcript, and a copy of these certificates.

You may also be required to pay an application fee. Remember to include two passport photos and your background check to prove your identity.

The application should be submitted within 60 days after it is notarized.

Step 3: Undertake the State’s Licensing Exam

If your license application is approved, you receive an approval letter from the MRES. The MRES approval gives you the go-ahead to sit for the Mississippi real estate licensing state exam.

Usually, you must contact your local testing agency to schedule the exam. Most agencies offer monthly exams, meaning you must plan your time and avail yourself.

The exam takes around four hours and comprises two portions. The two sections mainly focus on:

• Your understanding of property laws and regulations at the national level
• State laws and regulations about property acquisition and disposal

You have 150 minutes to complete the first section and 90 minutes for the second. The pass mark is 56 points out of 80 possible ones for the first section.

For the second one, you must achieve at least 30 points out of the possible 40 points.

Usually, you receive a scoring document after sitting for the exam. It can either be a “Pass” or a “Fail.”

The best thing is that even a failure does not have to be the end of your dreams. You can always retake the exam and still become a real estate agent in Mississippi.

Applying for the Mississippi Real Estate Agents licensing exam is easy. Download and complete the application form from the MREC page.³

In case you have any issues to confirm, visit the PSI Mississippi Real Estate official page.

Enroll in a real estate practice course to avoid a “Fail” in your exam. The Real Estate Exam Scholar Mississippi course is a good example of such.

It prepares you for the exam and minimizes the chances of failing.

Step 4: Get Yourself a Mississippi Sponsoring Broker

Achieving your license is not enough. You need a certification from a more qualified real estate professional.

These are known as sponsoring brokers. A sponsoring broker is usually a real estate professional who can own a private real estate firm based on their credentials.

As such, the broker becomes your mentor, offering guidance as you learn and establish yourself in the industry. You must attach evidence of having a sponsoring broker when applying for your license.

Step 5: Application Review

If you pass your state licensing exam, your license application is reviewed. This usually takes a maximum of 5 business days.

When the review period is over, you can expect to receive an email from the MRES. The email should include a license document indicating your certification as a real estate agent.

In case of any queries from this point, you can reach MREC at [email protected] or call them at (601) 321-6970.

By now, you are already a licensed real estate agent professional in Mississippi. You only need to complete one more step to start your practice.

Those five steps are a straightforward guide on how to become a real estate agent with no experience in Mississippi. They allow you to start from the very basics.

Mississippi Real Estate Commission Pricing and Membership Expenditures

Becoming a real estate agent in Mississippi involves several costs. For example, the Mississippi Real Estate Commission has set prices for different activities, including license and exam applications.

The application fee for a real estate agent license in Mississippi varies. It depends on whether you are applying as a broker or a salesperson.

The fee for a salesperson is $120, while a broker’s is $100. The charges change if a broker applies for a license in a partnership, corporation, or association.

When they apply as a partnership, corporation, or association, the fee drops to $75. On the other hand, a branch office license costs $50.

There is also the license renewal fee. This is also categorized based on the applicant.

• Salesperson: $120
• Broker: $150
• Branch office: $100
• A broker in partnership, corporation, or association: $150

Both resident and non-resident applicants pay the same fees.

Electing To Become a Member of the National Association of Realtors® (NAR)

The first step to becoming a NAR member is joining the Association of REALTORS® in your area. You can easily find these local associations of REALTORS® by visiting online directories like YP.com, Dex, or the NAR’s official page.²

From here, identify a local association of REALTORS® and contact them for membership. Becoming a member of the NAR is as easy as that.

Once you join the local association, you qualify for the state and the National Association of REALTORS®. In fact, becoming a member is automatic.

However, there are some basic principles used to join the NAR. For example:

• Real estate firm principals join NAR before other members of the firm
• After the principles become members, all the other real estate agents and brokers in the firm can join.
• Each firm must appoint one principal as its designated Realtor®.

If you are ready to join the National Association of REALTORS®, visit their website.²

What’s the Usual Time Required for the Real Estate Application Process?

How long does it take to become a real estate agent? Everyone wants an answer to this question when starting the application process.

The application for a real estate agent license in Mississippi comprises five steps. These include taking the pre-licensing course, looking for a broker, applying for the license, sitting for the exam, and waiting for the application review.

This entire process can take approximately 3 to 6 months. Remember, you have 60 hours of course time before you can apply for the license.

Getting your license in about two months is possible if you dedicate your time.

However, to ensure you succeed in these exams, you need to prepare adequately. This requires more time.