When a licensed real estate agent wishes to purchase a property that is listed with their own brokerage, what must they do?
Correct Answer
B) Disclose their status as a licensed real estate agent to the seller in writing
Under Mississippi license law, when a licensee seeks to purchase property — especially one listed with their own firm — they must disclose their status as a licensed real estate agent to the seller in writing. This disclosure requirement protects the seller from potential self-dealing and ensures transparency. There is no requirement to offer above asking price, obtain MREC pre-approval, or use a different firm, though proper agency relationships must still be established.
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