How to Get a Real Estate License in Mississippi
Real estate is an excellent career option for those who want instant business growth and unlimited income, among other benefits. Unlike other professions, this one offers a flexible working schedule, promoting a better work-life balance and job satisfaction.
However, you need special training and licensure to transact real estate in any state. So, this begs the question: how does one get a real estate license in Mississippi?
To get a real estate license in Mississippi, you must be 18 or older. You should also be a resident of the United States or a duly admitted alien. Learning about the prerequisites for getting your real estate license in Mississippi is the first step to pursuing your career.
This article lays out the steps to acquiring a real estate license in Mississippi, how much it costs, and the average salary of a licensed agent. You'll also learn more about the process's duration and other frequently asked questions regarding our subject of discussion.
How to Get Your Mississippi Real Estate License
Step 1: Take Real Estate Prelicensing Course
If you're looking to work as a licensed real estate agent in Mississippi, you must complete a 60-hour pre-licensing course. This course covers the basics of real estate, including property management and estate valuation.
You must complete this coursework and pass the final exam before progressing to the next licensure step. Another important thing is to choose a state-approved institution for your pre-licensing education. You do this because many schools offering pre-licensing courses are not state-approved, and this can result in license revocation.
You can take an online or in-person course based on your preferences. Most applicants prefer the online course because it allows them to study at their own pace. The in-person class also has advantages, including the instructor's real-life experience and the available learning materials at your disposal.
After the course, your education provider will offer you the final exam in which you must score above 70% to advance to the next licensure step. This test is not synonymous with the state exam but shares some similarities, such as closed book and closed note.
Step 2: Find a Sponsoring Broker
After getting through the first stage of licensure, you must find a sponsoring broker who is well-versed in industry knowledge. A good broker will support and guide you as you establish yourself in this booming business.
Unlike other states, Mississippi requires you to submit evidence of affiliating with a broker before applying for your real estate license.
Step 3: Apply for Your Real Estate License
After completing the first two steps, it's time to apply for your real estate license. First, you must fill out the application form online before forwarding it to the Mississippi Real Estate Commission. Make sure you answer all questions correctly and show proof of your prelicensing course certificate. You should also submit evidence of associating with a licensed broker.
Other requirements for license application include two copies of your current photos and a $120 application fee. If your application is approved, you'll receive an approval letter allowing you to sit for the licensing exam.
Step 4: Mississippi Real Estate License Exam
After approval of your eligibility, you can take the Mississippi real estate exam. The exam fee is $75 per attempt, and there are no limits to the number of times you can redo the exam.
The exam has two portions. The first section focuses on national questions, while the second asks state-related questions. This test takes 4 hours to complete, and you must answer each question correctly within that interval. You must score 56/80 on the first part of the test and 30/40 on the second part.
Since this test is administered on a computer, you will be given your score report shortly after completing the exam. Your scoring document will be marked as "pass" or "fail." If you fail the test, your report will outline the areas in which you must improve on your next attempt.
If you pass the exam, you'll have to wait 3 to 5 days for your license to be processed. After that, the commission will email you a license document.
How Much Do Real Estate Agents Make in Mississippi?
Mississippi real estate agents earn a minimum of $95,336 per year. However, this income potential may vary based on your market of expertise, experience level, and employment setting. For instance, you may earn more if you specialize in high-end real estate.
How Much Does it Cost to Get a Mississippi Real Estate License?
A Mississippi real estate license typically costs $665. This includes a prelicensing education fee ranging from $199 to $465 and $200 for other Mississippi fees.
How Long Does it Take to Get a Real Estate License in Mississippi?
How long you'll take to get your license depends on your devotion to the process. If you devote more time to studying the prelicensing course, you'll take 6 months to acquire your license. On the other hand, studying hard and committing full-time to this licensure process will reduce that time to 2-3 months.
If you want to see some examples of questions that will be on the actual real estate exam, check out our free real estate practice exam. We have been named as the best real estate exam practice for 7 years in a row!
If you need to get your required educational hours done, check out our partners for online real estate education that can be done at your own pace from home or where ever you have internet access.
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