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Mississippi Interstate Real Estate Guide

Out of State Licensee (OSL) Participation in deals:
Cooperative State

Mississippi​ Out of State Broker Cooperation

- An out-of-state licensee cannot act within the Transaction State except with the cooperation of a Mississippi broker. - Whenever an out-of-state licensee enters into a written cooperative agreement with a Mississippi broker, the Mississippi broker shall file (within 10 days of execution of the agreement) a copy with the real estate commission.
​- When the out-of-state licensee signs this agreement, that out-of-state licensee agrees to abide by Mississippi law, and the rules and regulations of the committee.
- Further, the showing of the property and negotiations pertaining to the transaction shall be supervised by the Mississippi broker.
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Mississippi​ ​Real Estate License Types
Mississippi​ Real Estate Exam Providers
Mississippi​ Real Estate Waivers
Real Estate Salesperson
Real Estate Broker
PSI Exams
Unknown
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Mississippi​ Real Estate Reciprocity

Any State - as long as very specific guidelines are followed.

Guidelines 
Confirmed in Forms and Documents Only - Mississippi's "How to Obtain a Real Estate License in Mississippi"

Specific to Mississippi​ Real Estate ​

- Mandatory E&O (see RISC) ​https://www.risceo.com/states/mississippi/
If You Need a Broker, Contact Us

Mississippi​ Reverse Reciprocity

​These states specifically mention Mississippi in their Reciprocity: 
Arkansas, Connecticut, Florida, Iowa, Louisiana, New York, Massachusetts, Ohio, Utah, West Virginia

These States recognize any other State licenses but may have additional requirements: 
​Alaska, Alabama, Colorado, Georgia, Idaho, Indiana, Kansas, Kentucky, Maine, Nebraska, North Carolina, Rhode Island, South Dakota, Tennessee, Vermont, Washington

Mississippi​ Real Estate Links

​Reciprocity Page (This site is very limited on Reciprocity)
​Non Resident Broker Application
​Mississippi Real Estate Commission

Mississippi​ Real Estate Customs

Attorneys conduct real estate closings.
Conveyance is by warranty deed. Deeds of trust are the customary security instruments.
Mississippi uses ALTA policies and endorsements.
Buyers and sellers negotiate the payment of title insurance premiums and closing costs.
There are no documentary, mortgage, or transfer taxes.
Property taxes are payable on an annual basis.

​Mississippi 
is a NON-DISCLOSURE state.  Transaction details and the Buyer, Seller, Sales Price, or even if a property sold is NOT PUBLIC RECORD.


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​Peter Ciriello is a licensed real estate broker in New York, California and Georgia.
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