Bill > HB1656

This bill, titled "Real Estate Brokerage Agreements; regulate," aims to establish new regulations for real estate brokerage agreements in Mississippi, specifically for properties with one to four dwelling units when a licensed real estate broker or salesperson is involved. The bill outlines several exceptions where these regulations would not apply, including transfers ordered by a court, transfers to a lender due to default, transfers by a fiduciary in estate or trust administration, transfers between co-owners, transfers to immediate family members, transfers resulting from divorce decrees, and transfers involving government entities or properties without dwellings. A key provision requires that consumers who are sellers or buyers can affirmatively choose specific brokerage services through a signed brokerage agreement, which must detail the terms, conditions, and compensation for those services. While a written brokerage agreement is generally required before a licensee lists a property or submits an offer on behalf of a client or customer for compensation, a licensee is not obligated to have one to simply tour a property with a prospective buyer. The bill also clarifies that a buyer brokerage agreement is not required for a seller's agent hosting an open house or presenting an offer for a buyer customer while acting solely for the seller without receiving compensation from the buyer. This act is set to take effect on July 1, 2026.

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https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB1656.xml