MS HB1441

Applicants for real estate broker licenses must sign a form under penalty of perjury stating they will not hire salespersons for two years from approval of their broker license.

After the two-year restriction period, real estate brokers are authorized to employ any number of salespersons without limitation.

Applicants who want to hire salespersons in less than two years must have held an active real estate salesperson license for 36 months (instead of the standard 12 months) immediately prior to applying for a broker's license.

The exemption from the two-year hiring restriction applies only to applicants meeting the 36-month active salesperson requirement and all other existing broker license qualifications.

The act takes effect July 1, 2020.