In Mississippi real estate practice, a broker licensed only in another state wants to negotiate a Mississippi real estate transaction. What should the licensee remember?
Correct Answer
B) The out-of-state broker may cooperate only with a licensed Mississippi broker under a proper cooperative agreement; the out-of-state broker may not act alone in Mississippi
Mississippi License Law §73-35-11 allows cooperation by an out-of-state broker who lacks a Mississippi license only through a licensed Mississippi broker. Source basis: MREC License Law Rev. 08-15-2025: Section 73-35-11 cooperative agreements, nonresident broker limits, Mississippi broker supervision/liability, advertising, escrow, and Section 73-35-13 reciprocity/examination exemptions. Checked 2026-04-30.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
Market allocation is an illegal antitrust practice in which competing real estate brokerages agree to divide markets among themselves by geographic area, property type, or price range, thereby eliminating competition.
Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
More Practice Of Real Estate Questions
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