MississippiSB 27482026 Regular SessionSenateWALLET

Real estate brokers; revise various definitions and provisions related to licensees.

Sponsored By: Chris Johnson (Republican)

Signed by Governor

Business and CommerceBusiness and Financial Institutions

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Free to download

Bill Overview

Analyzed Economic Effects

4 provisions identified: 2 benefits, 0 costs, 2 mixed.

Written broker terms and safer fund handling

Starting July 1, 2026, consumers and brokers must have a written agreement explaining the services and compensation. Licensees must account for, send, or deposit covered client funds by the end of the second banking day after receiving them.

Licensees can use businesses for payments

Starting July 1, 2026, brokers, associate brokers, and salespersons can use a lawfully formed business to receive payments covered by the law. The business does not need a real estate license to receive those payments, but it cannot do other work that requires a license.

Licensees face new transfer and renewal rules

Starting July 1, 2026, when a licensee’s agency with a principal broker ends, the broker must acknowledge the transfer within three days. The licensee cannot do covered work until the commission issues a new license. When a renewal fee is unpaid, the commission must email notice to the licensee and, when applicable, the responsible broker; the existing two-month delinquency period before automatic cancellation remains.

New licensing rules for real estate workers

Starting July 1, 2026, the law includes people and businesses doing covered real estate work for pay in broker licensing definitions. Independent contractors working with brokers may also fall under salesperson rules. People who only direct or help find a buyer or prospect are no longer separately included in the broker definition.

Sponsors & Cosponsors

Sponsor

Chris Johnson
Republican • Senate

Cosponsors

Sollie B. Norwood
Democratic • Senate

Roll Call Votes

All Roll Calls

Yes: 170 • No: 0

House vote • 3/4/2026

Passed

Yes: 119 • No: 0 • Other: 2

Senate vote • 2/11/2026