How To Become A Real Estate Agent In Ms

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How To Become A Real Estate Agent In Ms – In Mississippi, real estate agents MUST be accredited by the Mississippi Real Estate Commission. To obtain your real estate license, you must:

  • Satisfy the minimum requirements to apply for the real estate examination:
  • Character: Must show trustworthiness and competence.
  • Experience: None.
  • Instruction: 60 hrs of approved courses in real estate fundamentals.
  • Pay the Right fees.
  • Apply for Real Estate License. Submit two photos of the candidate, an affidavit signed by the sponsoring broker.

How To Become A Real Estate Agent In Ms

Recently licensed brokers must work under the oversight of an employing (sponsoring) real estate broker. Most new agents start out by working for a few of those big brokerages such as Coldwell-Banker, Century-21, Remax, etc.. If you would like to have your own business and work for yourself, you have to upgrade to a broker’s license.

Obligations of Real Estate Agents
A real estate agent’s most important job is to assist their customers in the practice of buying and selling real estate.

Their list of responsibilities include:

  • Submit buyers’ offer to buy to vendor for consideration
  • Work with escrow officers, lenders, home inspectors, and pest control operators to make sure that terms and conditions of purchase agreements are fulfilled before closing dates.
  • Interview potential buyers to determine what sorts of properties they are trying to find.
  • Prepare documents like listing agreements, purchase agreements, etc..
  • Function as an intermediary in negotiations between buyers and sellers, generally representing one or another.
  • Determine a house’s competitive marketplace price by comparing the property with similar properties which have recently sold.
  • Schedule appointments to show houses to potential buyers.
  • Create lists of properties that are compatible with buyers’ needs and fiscal resources.

What is a REALTOR®?
The agent normally joins the local board or association. For instance, in Biloxi, as soon as you’ve obtained your property license, you might pay a fee to join the Biloxi/Ocean Springs Board of REALTORS®.

All REALTORS® are real estate brokers, however, not all real estate agents are REALTORS®.

Income Possible
Realtors are usually paid based on a proportion of the sales price. The seller will usually pay 4-6% of the sales price since the commission and that will be split 50/50 between the vendor and purchaser’s broker.

By way of instance, if the fee for a $100,000 home is 6%, the purchaser’s agent will be paid 3% or $3000 and the seller’s broker will be paid 3 percent or $3000 as well. The broker is paid by their broker, according to their formerly agreed-upon commission split.This can be 50/50 for starting agents, so if the broker in our example would receive $1500.

According to the National Association of REALTORS®, the Median Sales price for a present single-family home in the Biloxi-Gulfport region was $113,900 for its fourth quarter of 2004.

Here are some real estate colleges offering the pre-licensing classes for the state of Mississippi:

Cooke Real Estate School (800) 943-9993
Mississippi Realtor Institute (601) 932-9325
Real Estate Institute (601) 605-1900

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