HB 1656

MISSISSIPPI
LEGISLATURE
2026 Regular
Session
To: Business and
Commerce
By: Representatives
Deweese, Nelson
House Bill 1656
(As Passed the House)
AN ACT TO CREATE NEW SECTION 73-35-39, MISSISSIPPI CODE OF
1972, TO REGULATE REAL ESTATE BROKERS' AGREEMENTS; AND FOR RELATED PURPOSES.
��� BE
IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
��� SECTION
1.� The following shall be codified as Section 73-35-39, Mississippi
Code of 1972:
��� 73-35-39.�
(1)� The provisions of this section apply only with respect to real property on
which a dwelling unit is located, or residential stock cooperative improved
with or consisting of not less than one (1) nor more than four (4) dwelling
units, when the execution of such transfers is by, or with the aid of, a duly
licensed real estate broker or salesperson.� There are specifically excluded
from the provisions of this section:
������� (a)�
Transfers pursuant to court order, including, but not limited to, transfers
ordered by a probate court in administration of an estate, transfers pursuant
to a writ of execution, transfers by any foreclosure sale, transfers by a
trustee in bankruptcy, transfers by eminent domain, and transfers resulting
from a decree for specific performance.
������� (b)�
Transfers to a mortgagee by a mortgagor or successor in interest who is in
default, transfers to a beneficiary of a deed of trust by a trustor or successor
in interest who is in default, transfers by any foreclosure sale after default,
in an obligation secured by a mortgage, transfers by a sale under a power of
sale or any foreclosure sale under a decree of foreclosure after default in an
obligation secured by a deed of trust or secured by any other instrument
containing a power of sale, or transfers by a mortgagee or a beneficiary under
a deed of trust who has acquired the real property at a sale conducted pursuant
to a power of sale under a mortgage or deed of trust or a sale pursuant to a
decree of foreclosure or has acquired the real property by a deed in lieu of
foreclosure.
������� (c)�
Transfers by a fiduciary in the course of the administration of a decedent's
estate, guardianship, conservatorship or trust.
������� (d)�
Transfers from one co-owner to one or more other co-owners.
������� (e)�
Transfers made to a spouse, or to a person or persons in the lineal line of
consanguinity of one or more of the transferors.
������� (f)�
Transfers between spouses resulting from a decree of dissolution of marriage or
a decree of legal separation or from a property settlement agreement incidental
to such a decree.
������� (g)�
Transfers or exchanges to or from any governmental entity.
������� (h)�
Transfers of real property on which no dwelling is located.
��� (2)�
In addition to agency disclosures to sellers and buyers required by the
Mississippi Real Estate Commission, the consumer who is a seller or buyer may
make an affirmative election of a specific type of brokerage service that is
available from the real estate company by signing a brokerage agreement.� The
brokerage agreement shall contain a statement of the terms and conditions of
the brokerage services that the company will provide, and information on how
the company and licensees are to be compensated for the brokerage services.� A licensee may not be required to enter into a brokerage
agreement with a prospective buyer customer in order for a licensee to provide
a tour of a property to that prospective buyer. A written brokerage agreement is
required prior to a licensee either listing for sale or submitting an offer on
a property on behalf of a client or customer for compensation.� A written
brokerage agreement is required prior to a licensee either listing for sale or
submitting an offer on a property on behalf of a client or customer for
compensation.� A buyer brokerage agreement shall not be required of a seller's
agent conducting an open house as to prospective buyers, or as to a buyer
customer for whom a seller's agent presents an offer on a property acting
solely for the seller without receiving compensation from the buyer.
���� SECTION
2.� This act shall take effect and be in force from and after July 1, 2026.