BPO Updates

Governor Haley Barbour recently signed into law legislation allowing Mississippi real estate licensees to be compensated for performing Broker Price Opinions (BPOs). This legislation takes effect on July 1, 2011, so according to Mississippi License Law agents cannot be compensated for BPOs performed prior to July 1. To read the final version of the legislation click here.

The Mississippi Real Estate Commission (MREC) will be establishing a set of standards and guidelines for Mississippi real estate licensees concerning BPO compensation. According to the new state statute, the MREC rules must, at a minimum, follow a set of nationally recognized standards and guidelines similar to those set by the National Association of BPO Professionals. The National Association of BPO Professionals' standards and guidelines are not the final rules that are being considered by MREC, but simply a set of standards and guidelines that could be used as the basis for the MREC rules. To read the Standard and Guidelines of the National Association of BPO Professionals click here.

On Wednesday, April 20, 2011 MREC Administrator Robert Praytor presented an audio presentation concerning the new BPO legislation during MAR's Lunch and Learn webinar series. During the presentation Mr. Praytor fielded questions and concerns from Mississippi REALTORS® about the legislation and its implementation by licensees.

Click to Download the audio presentation by Mr. Praytor, or simply press play below to listen to it through your browser.

• To listen to the presentation, click the play button (you may have to wait a few seconds for the file to buffer).
• To download the file for your own use, right-click the "Download" link and choose Save Target/Link As.... Choose where you would like to save it and click Save.