MS HB1656

Requires written brokerage agreements between real estate licensees and clients before listing a property for sale or submitting an offer on behalf of a buyer for compensation.

Applies to residential properties with 1-4 dwelling units when transactions involve licensed real estate brokers or salespersons.

Excludes transfers from requirements including court-ordered sales, foreclosures, transfers between co-owners, transfers to spouses or lineal family members, and government transactions.

Permits licensees to give property tours to prospective buyers without requiring a brokerage agreement first.

Exempts seller's agents conducting open houses from requiring buyer brokerage agreements with prospective buyers attending the open house.