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When you’re ready to start—or continue—your journey in Mississippi real estate, one of the most important decisions you’ll face is choosing how to take your required courses. Whether you’re preparing for licensure or working to renew your license, the Mississippi REALTORS® Institute (MRI) offers real estate license classes in Mississippi, available both in-person and online.

This guide breaks down the benefits of each format so you can choose the best fit for your professional development.

Online Real Estate Courses: Flexibility at Your Fingertips

Online learning is a popular choice for those who need flexibility. Whether you’re balancing work, family, or a busy schedule, online courses offer the convenience of self-paced study and remote access.

Benefits of Online Classes at MRI:

• Study at your own pace, anywhere
• Access materials for six months from the date of registration
• Resume where you left off—your progress is automatically saved
• Available across multiple devices and formats
• Ideal for motivated learners with basic computer skills 

MRI offers a wide range of online courses, including:

• Salesperson Pre-License Course

• Salesperson Post-License Course

• Online Continuing Education (CE)

• Online Broker Pre-Licensing Course

   

In-Person Real Estate Courses: Structure, Support, and Interaction

If you thrive with structured schedules, face-to-face interaction, and live instruction, in-person classes offer a strong learning environment that promotes accountability and engagement.

Advantages of In-Person Learning:

• Real-time guidance from experienced instructors
• Peer discussion and collaboration
• Set schedules to keep you on track
• Networking opportunities with fellow professionals 

MRI offers classroom-based options for many courses around the state, such as:

• Salesperson Post-License Course
• Broker Post-License Course
• PSI Licensing Exam Review Courses
• Required and Elective Continuing Education (CE) Courses 

Not sure what CE you need? The National Association of REALTORS® offers a helpful overview of Continuing Education Requirements by State.

Choosing What Works for You: Self-Paced vs. Classroom Real Estate Courses

Whether you’re a first-time student or a seasoned agent pursuing CE, both formats can help you achieve your goals. Consider:

• Do you prefer the freedom of self-paced learning? 
• Are you motivated to complete coursework independently?
• Or do you learn better in structured, face-to-face environments? 

Whichever path you choose, MRI provides access to exam prep tools, textbooks, and professional development resources to support your learning. 

Supporting Your Career Through Ethical Excellence

No matter your experience level, all REALTORS® are required by the National Association of REALTORS® (NAR) to complete Code of Ethics training every three years. MRI offers this course both online and in person. 

MRI’s course counts for 4 hours of GRI credit and equips students with the principles and real-world understanding that set REALTORS® apart.

Looking Ahead: Elevate Your Career with Designations

Choosing between online and in-person classes is just the beginning. As you grow in your career, you may want to pursue advanced designations like the Graduate, REALTOR® Institute (GRI). This designation demonstrates advanced knowledge in areas like contract law, marketing, fair housing, and risk management.

In Mississippi, GRI designation requires 60 hours of instructor-led coursework through MRI. Learn more about this respected credential at NAR’s Designations & Certifications page or view our own GRI course overview.

Frequently Asked Questions About Real Estate Classes in Mississippi

Can I take real estate license classes online in Mississippi?

Yes. The Mississippi REALTORS® Institute offers fully online options for Salesperson Pre-License, Salesperson Post-License, Broker Pre-Licensing, and Continuing Education courses. Online classes are self-paced, accessible for six months, and designed for flexibility around your schedule.

Are in-person real estate classes available in Mississippi?

Yes. MRI provides in-person classes at its Flowood and Nesbit locations. These include Salesperson Post-License, Broker Post-License, Continuing Education, and PSI exam prep courses. In-person formats are ideal for learners who prefer structure, classroom interaction, and live instruction.

What’s better: online or in-person real estate classes?

It depends on your learning style and schedule. Online real estate courses offer flexibility and self-paced learning, while in-person classes provide structure, live instructor support, and peer interaction. Both formats are approved by the Mississippi Real Estate Commission and offered through MRI.

Start Learning with Mississippi REALTORS® Institute

At MRI, we’re committed to helping real estate professionals build strong foundations and grow throughout every stage of their careers. Whether you enroll in an online course or attend class in person, our real estate school in Mississippi provides the tools, resources, and support needed to thrive in the industry.

For more information on in-person and online courses, please contact Mississippi REALTORS® Institute or call us at 601-932-9325. We’re here to support you at every step of your real estate education.

Additional Resources:

Mastering the Code of Ethics

Salesperson Pre-License Guide

Broker License Guide

GRI Designation Guide

The home-buying journey is as diverse as the individuals embarking on it. As real estate professionals, understanding the demographic trends and motivations of today’s buyers can empower you to better serve your clients. The NAR’s recently released ”2024 Profile of Home Buyers and Sellers Final Report” offers valuable insights into the evolving characteristics of home buyers, which REALTORS® can use to refine their strategies and navigate an ever-changing market. These findings are particularly relevant as we approach 2025, a year projected to bring housing market growth, as outlined in NAR’s “10 Housing Hot Spots for 2025”. At the Mississippi REALTORS® Institute, we are committed to equipping real estate professionals with the knowledge and tools needed to stay ahead in this dynamic industry through our education and training programs tailored to Mississippi’s market.

The Characteristics of Home Buyers: A Snapshot of 2024 Trends

The ”2024 Profile of Home Buyers and Sellers Final Report” highlights several notable trends among buyers:

• Age Dynamics: The median age of home buyers rose to 56, reflecting the influence of repeat buyers (median age: 61) in today’s market. First-time buyers, however, remain younger, with a median age of 38.
• Household Composition: Married couples continue to dominate the market (62%), but single women (20%) are also a significant buyer group, often driven by financial independence and long-term wealth-building goals.
• Motivations for Buying: Among first-time buyers, the desire to own a home (22%) remains the primary motivator. For many repeat buyers, proximity to family and friends (14%) is key.
• Decline in First-Time Buyers: First-time buyers represent only 24% of the market, the lowest since 1981, underscoring challenges such as high home prices and limited inventory.

Connecting Trends to 2025 Housing Predictions

The insights from this report align closely with NAR’s predictions for the  “10 Housing Hot Spots for 2025.” Key takeaways include:

1. First-Time Buyers and Starter Homes

Markets like Charlotte, NC, and Knoxville, TN, are expected to thrive due to their inventory of affordable starter homes—exactly the kind of property younger buyers seek. According to the report, affordability and access to inventory remain top priorities for this demographic.

2. Job Growth and Net Migration

Cities with strong job markets and population growth, such as San Antonio, TX, and Grand Rapids, MI, are projected to attract new buyers. The 2024 Profile also highlights buyers’ preference for areas with proximity to family and friends—factors often linked to economic opportunities and migration patterns.

3. Financial Security and Buyer Motivations

The report underscores that buyers with higher household incomes are better equipped to navigate the challenges of today’s market. This ties directly into the article’s emphasis on regions with young professionals poised to transition from renting to homeownership.

Practical Applications for REALTORS®

How can REALTORS® leverage this data to prepare for 2025 and beyond? Here are some actionable strategies:

Focus on Educating First-Time Buyers

The decline in first-time buyers highlights the need for education and guidance. Consider offering workshops or online resources that break down the complexities of homebuying. The Mississippi REALTORS® Institute offers continuing education courses that can help REALTORS® better support this demographic.

Target Growth Markets

If you’re serving regions like Jackson, MS, keep an eye on migration trends and job growth indicators. Align your marketing efforts with the priorities of these new residents by showcasing affordable housing options or starter homes.

Leverage Digital Tools for Buyer Outreach

The 2024 Profile revealed that most buyers begin their search online, with nearly 86% working with a real estate agent. Make sure your website is optimized for SEO, features engaging content, and uses tools like MLS listings to capture leads.

Highlight Community Appeal

Given the emphasis on neighborhood quality, REALTORS® can benefit from emphasizing the unique aspects of their local markets. Whether it’s proximity to schools, parks, or thriving downtowns, these details can make all the difference.

Why It Matters: Insights for Mississippi REALTORS®

The housing market may be national, but its impacts are local. The Mississippi REALTORS® Institute encourages agents to stay ahead of these trends by continually educating themselves. As the 2025 housing rebound takes shape, REALTORS® who understand the demographics and motivations of today’s buyers will be well-positioned to succeed.

For more information on preparing for these changes, check out our upcoming continuing education courses or contact us directly at 601-932-5241.

The National Association of REALTORS® (NAR) Code of Ethics training deadline is quickly approaching. All REALTORS® must complete their training by December 31, 2024, to stay compliant and retain their membership privileges. The Mississippi REALTORS® Institute (MRI) offers a convenient online course designed to help you fulfill this requirement on time. In this blog, we’ll walk you through the steps to register, outline the benefits of this training, and highlight essential details to ensure you meet the deadline stress-free.

For a comprehensive look at the importance of the Code of Ethics, you can also check out our previous blog on Mastering the Code of Ethics.​

Why the Code of Ethics Training Matters

NAR’s Code of Ethics training is a requirement for all REALTORS®, emphasizing the principles of integrity, professionalism, and client service. Completing this training helps you:

• Stay updated on ethical practices.
• Navigate complex real estate situations with integrity.
• Build trust with clients, fostering a positive industry reputation.

Failing to complete the training by the December 31 deadline could result in suspension of your NAR membership and other associated benefits. For answers to common questions, please visit our Code of Ethics FAQ section.

How to Register for the Code of Ethics Online Course

The Mississippi REALTORS® Institute has streamlined the process to help you complete your Code of Ethics training online. Follow these simple steps:

1. Visit the MRI Course Page: Go to the Code of Ethics Online Course page on MRI’s website to access the course description and register.
2. Enroll and Purchase the Course: The course includes three hours of training. Click “Add to Cart” to start the registration process.
3. Complete the Course at Your Own Pace: Once enrolled, you can complete the training on your schedule, making it convenient for busy professionals.

What the Course Covers

The “Ethics at Work” course by MRI is designed to meet NAR’s Cycle 7 requirements. This course includes key modules that ensure REALTORS® are well-prepared to handle ethical challenges in the industry. Here’s a breakdown of what you can expect:

Course Highlights

• Ethics Renewal and Licensing Requirements: Learn the latest ethical renewal and licensing requirements specific to real estate professionals.
• Promoting Ethical Behavior: Explore the importance of ethical conduct among NAR members and how it enhances client trust.
• History and Evolution of the Code: Understand the historical context of the Code of Ethics and its impact on licensing laws.
• Structure and Key Articles of the Code: A deep dive into critical articles (e.g., 1, 2, 9, 12, 15, 16) that govern REALTOR® behavior.
• Real-Life Ethical Challenges: Analyze case studies to recognize and resolve real-world ethical dilemmas.
• Mediation and Arbitration: Gain insights into the dispute resolution processes, including the role of Article 17 in arbitrations and hearings.
• Best Practices for Everyday Ethical Conduct: Practical tips for demonstrating ethical behavior consistently in your professional interactions.

Important Details to Keep in Mind

1. Complete the Training Early: Avoid last-minute stress by completing the course well before the December 31, 2024, deadline.
2. Submit Your Certificate: After completing the course, be sure to submit your certificate to your local board to confirm your compliance.
3. Consider the Benefits of Additional Designations: Completing your Code of Ethics training also counts as elective credits toward advanced designations like the Graduate, REALTOR® Institute (GRI), which can further elevate your career.

Staying Compliant and Advancing Your Career

Completing the Code of Ethics training isn’t just about meeting a requirement; it’s a commitment to upholding the standards of the real estate profession. The Mississippi REALTORS® Institute is here to help you not only fulfill this requirement but also to enhance your expertise and professionalism in the industry.

By taking advantage of MRI’s online Code of Ethics course, you’re investing in your professional growth and demonstrating a commitment to ethical excellence. Don’t wait! Register today, and secure your spot in the training program.

Final Reminder

Meeting the Code of Ethics training deadline is essential to maintaining your status as a REALTOR®. Complete your training, submit your certificate, and stay compliant. For more information on the Code of Ethics requirements, visit the NAR Code of Ethics Training page to understand the importance and criteria of this training.

Mississippi REALTORS® Institute is here to support you every step of the way in meeting this deadline and excelling as a real estate professional. If you have any questions or need assistance, don’t hesitate to contact us or call us directly at 601-932-5241 – our team is here to help you succeed.

Resources

• Code of Ethics Online Course
• Mastering the Code of Ethics with Mississippi REALTORS® Institute
• Code of Ethics Online Course – Mississippi REALTORS® Institute
• Code of Ethics FAQ page
• NAR Code of Ethics Training page

As the real estate market continues to change, consumers are increasingly relying on the expertise of REALTORS® to guide them through the homebuying process. Understanding this process is crucial for ensuring a smooth and successful journey to homeownership. This blog outlines the nine essential steps homebuyers need to know, providing REALTORS® with the tools to educate their clients and build confidence at every stage.

1. Contact a REALTOR®

The first and most crucial step for any homebuyer is contacting a REALTOR®. A trusted REALTOR® is not just a guide but also an advocate who understands the market. Encourage your clients to schedule an initial appointment to discuss their home-buying needs and preferences. At this stage, you’ll establish a professional relationship and set the foundation for the journey ahead.

2. Initial Consultation

During the initial consultation, REALTORS® take the lead by explaining the entire home buying process. This is the opportunity to outline the steps, present options, and offer professional advice tailored to the client’s specific situation. The consultation ensures that buyers are clear on the roadmap, from finding the right property to closing the deal.

3. Sign Necessary Documents

Paperwork is an inevitable part of the real estate process, and it starts early. Clients will need to sign important documents like the Buyer’s Agency Agreement. As a REALTOR®, you must ensure that your clients understand what they are signing and how these agreements protect their interests.

4. Home Search

This is one of the most exciting phases for homebuyers. After determining their needs and budget, REALTORS® will arrange appointments to view homes that match their criteria. At this stage, clear communication between you and your client is key to ensuring they find a home that aligns with their lifestyle and financial situation.

5. Prepare an Offer

Once the client has chosen a home, the next step is to prepare an offer. REALTORS® play a pivotal role in helping draft a competitive offer. This includes assessing the current market conditions, understanding the seller’s motivations, and ensuring the offer meets the client’s expectations. A well-prepared offer can make all the difference in a competitive market.

6. Negotiate the Offer

Negotiation is where your expertise shines. As a REALTOR®, you will assist the buyer in negotiating terms with the seller, including price, contingencies, and closing dates. Your goal is to secure the best possible deal while maintaining a professional and respectful dialogue between all parties involved.

7. Under Contract

Once the offer is accepted, the homebuyer is officially under contract. At this point, REALTORS® guide their clients through important timelines and inspections. This ensures that all contract conditions are met is critical to preventing delays or issues down the line.

8. Closing Day

Closing day marks the culmination of the home buying process. This is when all paperwork is finalized, and the buyer receives the keys to their new home. As a REALTOR®, your role is to ensure everything runs smoothly on this final day, providing support to your clients as they sign the necessary documents and complete the transaction.

9. Congratulations!

The final step is simple: congratulations! Your client is now a homeowner, achieving the American Dream. For REALTORS®, this moment underscores the importance of the relationship built throughout the process. It’s a time to celebrate the success of guiding another client to their dream home.

Educating Clients for Success

REALTORS® are essential in educating consumers on the complexities of the homebuying process. By breaking down these nine steps, you can ensure that your clients feel informed, empowered, and confident as they embark on one of the most significant decisions of their lives.

For more information on educating consumers, please contact Mississippi REALTORS® Institute or call us at 601-932-9325. We are here to help you guide your clients through the homebuying process and ensure their success in achieving homeownership.

 

Listing appointments can be challenging for even the most experienced REALTORS®. The key to success lies in understanding the essential forms, ensuring compliance with regulations, and knowing how to avoid potential legal pitfalls. The Mississippi REALTORS Institute is hosting a class to help agents master these aspects of the listing process, focusing on crucial forms, compliance, and antitrust precautions. This blog will provide an overview of what you can expect from the class and how you can prepare for your listing appointments.

The Importance of Compliance in Real Estate

Compliance is a cornerstone of professional real estate practice. Not only does it ensure that transactions are conducted legally, but it also builds trust with clients and protects you from legal challenges. For example, the National Association of REALTORS® (NAR) stresses the importance of adherence to fair housing laws and maintaining transparency during real estate transactions to prevent discrimination and ensure that all parties are treated equitably​. Moreover, staying compliant with settlement requirements is crucial to avoid potential litigation and antitrust violations, which could severely impact your career and business.

Essential Forms for the Listing Appointment

When preparing for a listing appointment, having the right forms on hand is essential. Each form serves a specific purpose in safeguarding both the client and the REALTOR® throughout the transaction. Here are the key forms you should consider:

The Listing Agreement

The Listing Agreement outlines the terms and conditions under which the property will be marketed for sale. This agreement is fundamental as it establishes the responsibilities and expectations for both the seller and the REALTOR®. The specific form used may vary depending on office policy, and it’s important to stay updated as these forms can change over time. 

F37 Wire Fraud Warning

In today’s digital world, wire fraud has become a significant threat. This form is designed to educate your clients about the risks and provide them with the necessary precautions to avoid becoming victims.

F35A TILA-RESPA Disclosure

The TILA-RESPA Integrated Disclosure (TRID) rule requires clear and transparent disclosure of the terms and costs of a real estate transaction. This form ensures that your clients are fully informed, which is critical for maintaining compliance and building trust.

F41 Fair Housing Poster (HUD)

Displaying this poster is a reminder of the commitment to fair housing practices, as required by the Fair Housing Act. It underscores your dedication to preventing discrimination and promoting equal opportunity in housing.

F33 Lockbox Authorization

Securing property access during the listing period is crucial for a smooth transaction. This form authorizes the use of a lockbox, ensuring that the property is accessible to potential buyers while maintaining security.

F49 NAR Safe Showing Request

With safety being a top priority, this form helps establish guidelines for safe showings, protecting both the seller and potential buyers.

F1 Contract

The backbone of any real estate transaction, the F1 Contract outlines the terms of the sale and serves as the legally binding agreement between the buyer and seller.

Avoiding Antitrust Violations and Litigation

Antitrust violations are a serious concern in real estate transactions. To avoid potential legal issues, it’s essential to follow established procedures and maintain transparency throughout the transaction process. This includes avoiding any appearance of price-fixing or collusion with other agents or brokers. The NAR provides guidelines and best practices to help REALTORS® stay compliant and avoid these pitfalls.

The Essential Role of Compliance in Real Estate

Understanding and complying with industry regulations is vital for every successful REALTOR®. The essential forms for listing appointments, combined with a deep knowledge of compliance strategies, are designed to protect both you and your clients throughout the transaction. At Mississippi REALTORS® Institute, we are here to equip you with the insights and skills needed to navigate these complexities with confidence.

Don’t leave compliance to chance. Enroll in our upcoming classes to stay ahead of industry requirements and continue providing top-tier service to your clients. For more information, visit our contact page or reach out directly at 601-932-9325. Your success is our priority, and we’re committed to guiding you every step of the way.

Real estate transactions can be challenging for both buyers and sellers. This is where the expertise of a REALTOR® truly makes a difference. At Mississippi REALTORS® Institute, we understand how essential REALTORS® are in ensuring that transactions are smooth, transparent, and successful. In this blog, we’ll delve into the many ways that REALTORS® add value and why their role is so vital in today’s real estate market.

The Multifaceted Role of a REALTOR®

Expert Guidance and Market Knowledge

One of the primary benefits of working with a REALTOR® is their in-depth knowledge of the local real estate market.This expertise is particularly beneficial for buyers and sellers looking to make informed decisions. For example, REALTORS® are well-versed in the legal and financial documents required in real estate transactions. They help clients avoid delays and costly mistakes by ensuring all paperwork is correctly completed and submitted on time. 

Objective Information and Professional Opinions

REALTORS® provide objective information and professional opinions throughout the home buying and selling process. They guide clients through property searches, helping them meet their objectives while staying within their budget. This level of professional guidance is essential for making sound decisions in a competitive market.

Negotiation Skills

Negotiating the terms of a real estate transaction can be complex. REALTORS® bring valuable negotiation skills to the table, ensuring that clients get the best possible terms. Whether it’s negotiating the purchase price, repairs, or the possession date, having a skilled negotiator on your side can make a significant difference.

Up-to-Date Experience

The real estate market is constantly evolving, with new laws, regulations, and market trends emerging regularly. REALTORS® stay up-to-date with these changes, ensuring that their clients benefit from the most current information and best practices. This continuous learning and adaptation are crucial for maintaining a high level of service and expertise.

Emotional Support and Ethical Standards

Buying or selling a home is often an emotional process. REALTORS® provide much-needed support, helping clients stay focused on their goals and making rational decisions. Additionally, REALTORS® adhere to a strict Code of Ethics, ensuring fair and ethical treatment for all parties involved. This commitment to professionalism and integrity is detailed in the REALTORS® Code of Ethics which we thoroughly explore in our Mississippi REALTORS® Institute blog Mastering the Code of Ethics.

The REALTOR® Advantage: Statistics and Insights

The value of a REALTOR® is further underscored by the statistics and insights from the Profile of Home Buyers and Sellers. According to the report:

• 89% of buyers recently purchased their home through a real estate agent or broker.
• 90% of recent buyers found their real estate agent to be a very or somewhat useful information source.
• 71% of buyers interviewed only one real estate agent during their home search.
• 90% of buyers would use their agent again or recommend their agent to others.

These statistics highlight the trust and reliance that buyers place on their REALTORS®, further emphasizing their indispensable role in the real estate industry.

Why REALTORS® Are Worth Every Penny

REALTORS® provide a wide range of services that go beyond the basics of buying and selling properties. The NAR’s 179 Ways Real Estate Professionals Are Worth Every Penny offers an extensive list of tasks and responsibilities that REALTORS® handle on behalf of their clients. From conducting market analyses and staging homes to coordinating inspections and navigating legal complexities, REALTORS® ensure that every aspect of the transaction is managed with expertise and care.

The Importance of Continuing Education

At Mississippi REALTORS® Institute, we emphasize the importance of continuing education for REALTORS®. Staying informed about industry changes, new laws, and best practices is essential for providing the highest level of service. Our Real Estate Continuing Education 101 blog outlines the benefits of ongoing learning and professional development.

Upcoming Classes at Mississippi REALTORS® Institute

To help REALTORS® stay ahead of industry changes and enhance their skills, we offer a variety of educational programs and classes. For example, our upcoming classes on the Buyer’s Agency Agreement address the new changes in the industry and provide essential training for REALTORS® to adapt and excel. Check our list of online courses and our list of classroom courses for more information on our upcoming classes.

Conclusion: The Indispensable Value of a REALTOR®

Staying informed and adapting to industry changes is crucial for success in real estate. The new requirements for the Buyer’s Agency Agreement are designed to enhance transparency and protect both consumers and agents. At Mississippi REALTORS® Institute, we are here to support you with the necessary training and resources to navigate these changes confidently.

Don’t wait until it’s too late. Enroll in our upcoming classes to stay ahead of the curve and continue providing exceptional service to your clients. For more information, visit our contact page or contact us directly at 601-932-9325. Your success is our priority, and we’re here to guide you every step of the way.

FAQs

Why should you always use a REALTOR®?

Using a REALTOR® ensures you benefit from expert guidance, market knowledge, and professional negotiation skills, making your real estate transaction smoother and more successful.

Why hire a local REALTOR®?

A local REALTOR® has in-depth knowledge of the local market, including neighborhood specifics, zoning regulations, and community amenities, which helps you make informed decisions.

Is it important to have a good REALTOR®?

Yes, a good REALTOR® can navigate complex transactions, provide valuable insights, and ensure that your interests are protected throughout the buying or selling process.

What are the risks of buying a house without a REALTOR®?

Buying a house without a REALTOR® can lead to costly mistakes, lack of negotiation expertise, and potential legal issues due to incomplete or incorrect documentation.

References

• Real Estate Continuing Education 101
• Mastering the Code of Ethics
• 179 Ways Real Estate Professionals Are Worth Every Penny
• Profile of Home Buyers and Sellers

The real estate industry is continuously evolving, and staying updated with the latest changes is crucial for REALTORS® to maintain their competitive edge. At Mississippi REALTORS® Institute, we are committed to providing the education and resources necessary to navigate these changes effectively. One of the significant updates in 2024 involves the Buyer’s Agency Agreement. This blog will summarize the key changes, their implications for REALTORS®, and how our upcoming classes can help you stay ahead.

The Importance of the Buyer’s Agency Agreement

The Buyer’s Agency Agreement has always been an essential component of the real estate transaction process, ensuring transparency and clarity between buyers and their agents. Recent changes, driven by the Sitzer-Burnett verdict and subsequent legal settlements, have brought this agreement into sharper focus. Understanding these updates is critical for all REALTORS®.

Key Changes to the Buyer’s Agency Agreement

Mandatory Written Agreements

One of the most significant changes is the mandatory requirement for written buyer agreements before a buyer tours a property listed on the MLS. This change aims to provide clear and transparent terms of service, helping to protect both the consumer and the agent. As noted in NAR’s latest update, these agreements will outline the services provided, the nature of the relationship, and how the brokerage is compensated.

Prohibition of Compensation Offers on MLS

Another crucial update is the new MLS rule prohibiting the communication of broker compensation offers through the MLS. Compensation arrangements will now be discussed and agreed upon directly between the buyer and their agent, promoting transparency and negotiation.

Benefits for Consumers and REALTORS®

These changes are designed to enhance the buying experience by ensuring that all parties understand their roles and responsibilities. They help consumers by providing detailed information about the services they receive and how their agents are compensated, thereby fostering trust and transparency.

Helping Agents Explain the Importance of Written Buyer Agreements

According to NAR’s article on explaining written buyer agreements, it is essential for agents to understand and convey the significance of these agreements. They provide protection and transparency for both parties, ensuring clear expectations and fostering trust. Agents should be comfortable explaining the terms and benefits of these agreements to their clients, highlighting how they protect consumer interests and ensure clarity throughout the transaction process.

What to Include in a Written Buyer Agreement

If your brokerage does not have a standardized written buyer agreement, consult your state or local REALTOR® association. A written buyer agreement should include:

• The amount and source of compensation for the broker’s services.
• The duties and responsibilities of both the agent and the buyer.
• Clear statements about the agency relationship and the services provided by the broker.

Upcoming Classes at Mississippi REALTORS® Institute

To help REALTORS® transition smoothly, Mississippi REALTORS® Institute offers comprehensive courses that cover these new requirements in detail. Our classes are designed to equip you with the knowledge and skills needed to navigate these changes effectively. Visit our Online and In-person course pages for more information on these upcoming classes.

Embrace the Changes and Ensure Your Success

Staying informed and adapting to industry changes is crucial for success in real estate. The new requirements for the Buyer’s Agency Agreement are designed to enhance transparency and protect both consumers and agents. At Mississippi REALTORS® Institute, we are here to support you with the necessary training and resources to navigate these changes confidently.

Don’t wait until it’s too late. Enroll in our upcoming classes to stay ahead of the curve and continue providing exceptional service to your clients. Visit the FAQ section at the bottom of this page for common inquiries about the Buyer’s Agency Agreement changes. For more information, visit our contact page or contact us directly at 601-932-9325. Your success is our priority, and we’re here to guide you every step of the way. 

References

• National Association of REALTORS® Reaches Agreement
• Breaking Down Sitzer-Burnett
• The Truth About the NAR Settlement Agreement
• Help Agents Explain the Importance of Written Buyer Agreements

 

Frequently Asked Questions

What is the new Buyer’s Agency Agreement requirement?

The new rule requires all MLS participants to have a written agreement with buyers before they tour MLS-listed properties.

Why is the Buyer’s Agency Agreement important?

It ensures transparency and outlines the responsibilities of both the agent and the buyer, preventing misunderstandings.

How will these changes affect my real estate practice?

You’ll need to formalize relationships with buyers through written agreements, fostering trust and transparency.

When do these changes take effect?

The new rules take effect in mid-July 2024. Prepare now to comply with these requirements.

How can Mississippi REALTORS® Institute help me with these changes?

We offer training and resources to help you navigate the new requirements confidently.

Where can I find more information about the new Buyer’s Agency Agreement?

Visit our the NAR’s page and enroll in our upcoming classes.

What should be included in a Buyer’s Agency Agreement?

It should include the relationship’s length, exclusivity, compensation details, and other agreements between the parties.

What happens if I don’t comply with the new Buyer’s Agency Agreement rules?

Non-compliance can result in penalties and impact your standing as a REALTOR®.

How can I explain the Buyer’s Agency Agreement to my clients?

Tell your clients that it protects both parties by outlining services, responsibilities, and compensation, ensuring transparency.

Who can I contact for more information or assistance?

For more information or assistance, you can contact Mississippi REALTORS® Institute directly at 601-932-9325 or visit our contact page. We are here to support you every step of the way.

 

Useful Resources

• Code of Ethics
• NAR’s Code of Ethics Training
• GRI Designation
• NAR’s Code of Ethics & Standards of Practice
• Mississippi REALTORS® Institute Blog
• Advanced Designations for Real Estate Professionals
• Guide to Earning the GRI Designation in Mississippi
• Contact Us