30 Miss. Code. R. 1601-3.2 - Documents

A. A real estate licensee shall immediately (at the time of signing) deliver a true and correct copy of any instrument to any party or parties executing the same.

B. All exclusive listing agreements shall be in writing, properly identify the property to be sold, and contain all of the terms and conditions under which the transaction is to be consummated; including the sales price, the considerations to be paid, the signatures of all parties to the agreement, and a definite date of expiration. No listing agreement shall contain any provision requiring the listing party to notify the broker of their intention to cancel the listing after such definite expiration date. An "Exclusive Agency" listing or "Exclusive Right to Sell" listing shall clearly indicate in the listing agreement that it is such an agreement.

C. All exclusive buyer representation agreements shall be in writing and properly identify the terms and conditions under which the buyer will rely on the broker for the purchase of real estate; including the sales price range acceptable to the buyer, the considerations to be paid, the signatures of all parties to the agreement, and a definite date of expiration. An Exclusive Buyer Representation agreement shall clearly indicate in the body of the document that it is such an agreement.

D. In the event that more than one written offer is made before the owner has accepted an offer, any other written offer received by the listing broker, whether from a prospective purchaser or from another licensee cooperating in a sale, shall be presented to the owner unless the listing broker has specific, written instructions from the owner to postpone the presentation of other offers. Broker should caution the seller against countering on more than one offer at the same time.

E. Every real estate contract must reflect whom the broker represents by a statement over the signatures of the parties to the contract.

F. No licensee shall represent to a lender or any other interested party, either verbally or through the preparation of a false sales contract, an amount in excess of the true and actual selling price.

G. A real estate broker must keep on file for three years following its consummation, complete records relating to any real estate transaction. This includes, but is not limited to listings, options, leases, offers to purchase, contracts of sale, escrow records, agency agreements and copies of all closing statements.

Notes

30 Miss. Code. R. 1601-3.2

Miss. Code Ann. §§ 73-35-35

Amended 2/21/2025