Title 73, Professions and Vocations

Each real estate appraiser licensed under this chapter must comply with generally accepted standards of professional appraisal practice and generally accepted ethical rules to be observed by a real estate appraiser. Generally accepted standards of professional appraisal practice …

(1) A licensed real estate appraiser shall retain for a period of five (5) years the original or a true copy of: (a) each appraisal report prepared or signed by such real estate appraiser; and (b) all supporting data assembled and formulated by the appraiser in preparing each suc…

The board may investigate the actions of an individual licensed or entity registered under this chapter or an applicant for licensure, renewal or registration. Upon compliance with the procedural requirements set forth in this chapter, the board may revoke or suspend the license …

If, at the conclusion of the hearing, the board determines that a licensed appraiser, licensed certified real estate appraiser or appraisal management company is guilty of a violation of any of the provisions of this chapter, it shall prepare a formal decision that shall contain …

(1) The board shall charge and collect appropriate fees for its services under this chapter. The fees charged shall not exceed the amounts indicated below and shall be set by the board. Application and examination $225.00Application only $175.00Initial and renewal license $325.00…

The board shall issue to each licensed appraiser or licensed certified real estate appraiser under this chapter a license evidencing such licensure. The board shall also issue a pocket card in such size and form as the board approves. A license issued under this chapter shall bea…

The board shall prepare and issue at least once each calendar year a roster showing the name and place of business of each real estate appraiser currently licensed and appraisal management company registered under the provisions of this chapter. A copy of the roster shall be made…

(1) Except as otherwise provided for in this section, it shall be unlawful for anyone to engage in real estate appraisal activity in this state without first obtaining one (1) of the three (3) real estate appraiser licenses as provided in this chapter.(a) Any person who is engage…

(1) Each applicant for licensure under this chapter who is not a resident of this state shall submit, with his application, an irrevocable consent that legal action arising out of his activities as a real estate appraiser in this state may be commenced against him in the proper c…

(1) Except as otherwise provided in Section 73-34-35, any person violating a provision of this chapter shall, upon conviction of a first violation thereof, be punished by a fine of not less than Five Hundred Dollars ($500.00) nor more than One Thousand Dollars ($1,000.00), or by …

No person shall bring or maintain an action in any court of this state for the recovery of a commission, fee or compensation for any act done or services rendered, the doing or rendering of which is prohibited under the provisions of this chapter for persons other than licensed r…

The board may employ legal counsel to represent it in any proceedings when legal counsel is required.

If any provision of this chapter is found to be in noncompliance with the requirements of the Appraisal Subcommittee of the Federal Financial Institutions Examination Council or its agent, the board is authorized to implement such rules and regulations as necessary to bring the r…

If any provision of this chapter or its application to any person or in any circumstance is declared by a court of competent jurisdiction to be invalid or unenforceable, provisions constituting the remainder of the act and the application of those provisions to other persons and …

(1) (a) There is hereby established a board to be known as the Mississippi Real Estate Appraisal Board, which shall consist of five (5) members.(b) The five (5) members shall be appointed by the Governor, with the advice and consent of the Senate, one (1) from each congressional …

(1) Effective July 1, 2023, the Mississippi Real Estate Appraiser Licensing and Certification Board shall be separated from the Mississippi Real Estate Commission (“commission”) and shall thereafter operate as an independent board to be known as the Mississippi Real Estate Apprai…

(1) The board shall have the following powers and duties:(a) To receive applications for licensure as a real estate appraiser and applications for registration as an appraisal management company under this chapter; to establish appropriate administrative procedures for the proces…

This chapter shall be known, and may be cited, as “the Real Estate Brokers License Law of 1954”; and from and after May 6, 1954, it shall be unlawful for any person, partnership, association or corporation to engage in or carry on, directly or indirectly, or to advertise or to ho…

(1) (a) To qualify for a Mississippi real estate broker’s license or a Mississippi resident license as a real estate salesperson, or a nonresident’s license in Mississippi, an applicant must have successfully been cleared for licensure through an investigation that shall consist …

Sections 73-35-101 through 73-35-105 shall be known and may be cited as the “Interest on Real Estate Brokers’ Escrow Accounts Act.”

(a) As used in Sections 73-35-101 through 73-35-105, the following terms shall have the meanings ascribed herein unless the context clearly indicates otherwise:(a) “Real estate broker” or “broker” means an individual, partnership or corporation licensed pursuant to Section 73-35-…

(1) The IREBEA program shall be a voluntary program based upon willing participation by real estate brokers, whether proprietorships, partnerships or professional corporations. (2) IREBEA shall apply to all clients or customers of the participating brokers whose funds on deposit …

It shall be unlawful for any licensed broker, salesperson or other person who is not licensed as a Mississippi resident or nonresident broker or salesperson and a licensed broker or licensed salesperson in this state to perform any of the acts regulated by this chapter, except th…

(1) In addition to proof of his honesty, trustworthiness and good reputation, the applicant shall take a written examination which shall be held at least four (4) times each year at regular intervals and on stated times by the commission and shall test reading, writing, spelling,…

(1) An institution or organization desiring to conduct a school or offer a course of instruction to prepare persons to be licensed under this chapter, or to offer post-licensure courses, shall apply to the commission for accreditation, and shall submit evidence that it is prepare…

(1) Minimum standards for initial and continuing accreditation as a real estate school or prelicense education provider shall include:(a) Payment of any fees established by the commission. If the school or provider is accredited as a prelicense school or prelicense education prov…

(1) Minimum standards for instructors for prelicense and post-license education courses required for licensure as a real estate broker or a real estate salesperson shall include:(a) Licensure as a Mississippi real estate broker or real estate salesperson for the immediate past fi…

(1) Minimum standards for the content for education courses required for licensure as a real estate broker or a real estate salesperson shall include content on:(a) The provisions of this chapter and any rules and regulations promulgated hereunder;(b) Listing property;(c) Propert…

(1) The term “distance learning course(s)” shall mean any course approved by the commission in which the student is not physically present in a classroom with the instructor, including, without limitation, correspondence courses, video/DVD based courses and online electronic cour…

(1) Upon passing the Mississippi broker’s or salesperson’s examination and complying with all other conditions for licensure, a temporary license shall be issued to the applicant. The fee for the temporary license shall also be the same for the permanent license as provided in Se…

(1) Every person, partnership, association or corporation licensed as a real estate broker shall be required to have and maintain a definite place of business, which shall be a room either in his or her home or an office elsewhere, to be used for the transaction of real estate bu…

(1) The following words and phrases shall have the meanings ascribed herein unless the context clearly indicates otherwise:(a) “Aggregate limit” means a provision in an insurance contract limiting the maximum liability of an insurer for a series of losses in a given time period s…

(1) A fee not to exceed One Hundred Dollars ($100.00) shall accompany an application for a real estate broker’s license, and in the event that the applicant successfully passes the examination, no additional fee shall be required for the issuance of a license for a one-year perio…

(1) Each individual applicant for renewal of a license issued by the Mississippi Real Estate Commission shall, on or before the expiration date of his license, or at a time directed by the commission, submit proof of completion of not less than sixteen (16) clock hours of approve…

All fees charged and collected under this chapter shall be paid by the administrator at least once a week, accompanied by a detailed statement thereof, into the treasury of the state to credit of a fund to be known as the “Real Estate License Fund,” which fund is hereby created. …

(1) Except as otherwise provided in this section, the commission may, upon its own motion and shall upon the verified complaint in writing of any person, hold a hearing pursuant to Section 73-35-23 for the refusal of license or for the suspension or revocation of a license previo…

(1) The commission is hereby authorized and directed to take legal action against any violator of this chapter. Upon complaint initiated by the commission or filed with it, the licensee or any other person charged with a violation of this chapter shall be given fifteen (15) days’…

(1) Any applicant or licensee or person aggrieved shall have the right of appeal from any adverse ruling or order or decision of the commission or administrative hearing officer to the circuit court of the county of residence of the applicant, licensee or person, or of the First …

(1) The commission is hereby authorized to assist in conducting or holding real estate courses or institutes, and to incur and pay the necessary expenses in connection therewith, which courses or institutes shall be open to any licensee or other interested parties. (2) The commis…

The administrator, appointed by the commission, in the discretion of the commission, shall give bond in such sum and with such surety as the commission may direct and approve, and the premium thereon shall be paid by the commission.

(1) The term “real estate broker” within the meaning of this chapter includes all persons, partnerships, limited liability companies, associations and corporations, foreign and domestic, who for a fee, commission or other valuable consideration, or who with the intention or expec…

(1) Any person violating a provision of this chapter shall, upon conviction of a first violation thereof, if a person, be punished by a fine or not less than Five Hundred Dollars ($500.00) nor more than One Thousand Dollars ($1,000.00), or by imprisonment for a term not to exceed…

(1) No person, partnership, association or corporation shall bring or maintain an action in any court of this state for the recovery of a commission, fee or compensation for any act done or services rendered, the doing or rendering of which is prohibited under the provisions of t…

(1) The commission may act by a majority of the members thereof, and authority is hereby given to the commission to adopt, fix and establish all rules and regulations in its opinion necessary for the conduct of its business, the holdings of hearings before it, and otherwise gener…

(1) In addition to agency disclosures to sellers and buyers required by the Mississippi Real Estate Commission, a consumer who is a seller or buyer may make an affirmative election of a specific type of brokerage service that is available from a real estate company by signing a b…

(1) A person licensed under this chapter may prepare a broker’s price opinion and charge and collect a fee for such opinion if:(a) The license of that licensee is active and in good standing; and(b) The broker’s price opinion meets the requirements of subsections (3) and (4) of t…