FREE Missouri Real Estate Exam Guide 2026: Complete MREC License Prep

Missouri Real Estate License Overview

Missouri offers excellent opportunities for real estate professionals with diverse markets spanning from the metropolitan areas of St. Louis and Kansas City to charming suburban and rural communities. The Missouri Real Estate Commission (MREC) oversees all licensing under the Division of Professional Registration, ensuring agents meet strict standards of competence and ethics.

With a strong economy driven by healthcare, manufacturing, and agriculture, Missouri's affordable housing market continues to attract both first-time homebuyers and investors, creating strong demand for licensed real estate professionals.

Missouri Real Estate Exam Quick Facts

Requirements Before Taking the Exam

Education Requirements

Pre-License Course Content (72 Hours)

The required 72-hour education is divided into two courses:

48-Hour Salesperson Pre-Examination Course:

1. Real estate law and regulations
2. Property ownership and transfer
3. Contracts and agency relationships
4. Real estate finance and valuation
5. Missouri license law

24-Hour Missouri Real Estate Practice (MREP) Course:

1. Practical application of real estate principles
2. Day-to-day brokerage operations
3. Client communication and service
4. Transaction management
5. Professional ethics

Important: You must complete the MREP course before submitting your license application, but it can be taken after passing the exam.

Application Process

1. Complete 48-hour pre-examination course
2. Submit application to MREC within 6 months
3. Register for fingerprinting at 844-543-9712 (MREC code: 0004)
4. Pass background check
5. Receive authorization to test
6. Schedule exam with PSI Services
7. Pass both exam portions
8. Complete 24-hour MREP course
9. Submit for licensure

Missouri Exam Format

The Missouri real estate exam consists of 140 questions covering both national and state-specific content. Questions are intermixed throughout the test rather than appearing in separate sections.

Content Breakdown - National Portion (100 Questions)

Content Breakdown - State Portion (40 Questions)

Detailed Topic Coverage

Contracts (19%)

Agency Relationships (13%)

Real Estate Calculations (7%)

Note: Expect approximately 10 math questions on the Missouri exam.

Missouri-Specific Topics

Missouri Real Estate Commission (MREC)

Agency Disclosure Requirements

Missouri law mandates disclosure of agency relationships at the beginning of any substantive contact. Key provisions include:

• Section 339.750 - Dual agent consent and confidential information handling
• Section 339.770 - Broker disclosure forms for residential transactions
• Section 339.780 - Written brokerage services agreements

Agency types in Missouri:

• Single Agent - Represents one party only with full fiduciary duties
• Dual Agent - Represents both parties with limited representation
• Subagent - Works under another broker to represent seller
• Limited Agent - Provides limited services as agreed in writing

Seller Disclosure Requirements

Missouri sellers must disclose certain information to potential buyers:

Trust/Escrow Account Regulations

Missouri strictly regulates handling of client funds under 20 CSR 2250-8.140:

• Earnest money must be deposited promptly into escrow account
• No commingling of personal and client funds allowed
• Each transaction must be documented on check stubs and deposit tickets
• Commissions must be removed when transaction is completed
• MREC audits escrow accounts to ensure compliance

Missouri Contract Forms

Familiarize yourself with Missouri-specific forms:

• Residential Sale Contract
• Seller's Property Disclosure Statement
• Lead-Based Paint Disclosure
• Agency Disclosure Form
• Listing Agreement forms
• Buyer Representation Agreement

Missouri Exam Pass Rate

The Missouri real estate exam has a pass rate of approximately 70% on the first attempt. Success factors include:

Study Strategy

Recommended Study Time

After completing the 72-hour pre-license education.

Study Priority by Weight

1. Contracts (19%) - Largest national section

   • Contract formation and elements
   • Missouri purchase agreements
   • Contingencies and performance

2. Agency (13%) - Critical for both portions

   • Fiduciary duties
   • Missouri disclosure requirements
   • Client relationships

3. Practice of Real Estate (12%)

   • Brokerage operations
   • Fair housing compliance
   • Professional standards

4. State Business Conduct (17 questions) - Largest state section

   • MREC rules and regulations
   • Advertising requirements
   • Trust account procedures

Key Math Formulas

Commission:

$\text{Commission} = \text{Sales Price} \times \text{Rate}$

$\text{Agent Share} = \text{Commission} \times \text{Split \%}$

Prorations:

$\text{Daily Rate} = \frac{\text{Annual Amount}}{365}$

$\text{Proration} = \text{Daily Rate} \times \text{Days}$

Property Tax:

$\text{Tax} = \text{Assessed Value} \times \text{Tax Rate}$

Loan-to-Value:

$\text{LTV} = \frac{\text{Loan Amount}}{\text{Property Value}}$

Capitalization Rate:

$\text{Cap Rate} = \frac{\text{NOI}}{\text{Property Value}}$

$\text{Value} = \frac{\text{NOI}}{\text{Cap Rate}}$

Common Mistakes to Avoid

1. Underestimating Missouri-Specific Content

Many candidates focus only on national content but miss Missouri-specific:

• MREC disciplinary procedures
• Missouri agency disclosure requirements
• State contract forms
• Escrow account regulations

2. Weak Math Skills

Math questions are heavily weighted. Practice daily:

• Commission calculations
• Prorations
• Area calculations
• Investment analysis

3. Confusing Agency Types

Know the differences between:

• Single Agent: Full fiduciary duties to one party
• Dual Agent: Limited duties to both parties
• Subagent: Works for seller through listing broker

4. Poor Time Management

• 140 questions in 4 hours = 1.7 minutes per question
• Don't spend too long on difficult questions
• Flag and return later

Exam Day Tips

Before the Exam

• Get good rest the night before
• Eat a balanced meal
• Arrive 30 minutes early
• Bring two forms of ID (one with photo)

During the Exam

• Read every question completely
• Watch for "EXCEPT" and "NOT" questions
• Show your math work (on scratch paper)
• Trust your first instinct
• Use all available time to review

What to Bring

• Two forms of ID (one government-issued with photo)
• Authorization to test (confirmation email)
• Nothing else - personal items stored in locker

Testing Locations

PSI operates testing centers in four Missouri cities:

• St. Louis
• Kansas City
• Springfield
• Jefferson City

Exams are offered five days a week with Saturday testing available once per month on a rotating schedule at each location.

After Passing

Immediate Steps

1. Receive results on screen at testing center
2. Complete 24-hour MREP course if not already done
3. Submit license application to MREC
4. Associate with a broker (required to practice)
5. Join local Realtor association (optional but recommended)

Post-License Requirements

Continuing Education

Important: The 2026-2028 renewal period requires a Fair Housing CORE course if only taking one CORE course.

Missouri Real Estate Career Outlook

Salary Expectations

Hot Missouri Markets (2026)

• St. Louis - Diverse neighborhoods, corporate headquarters
• Kansas City - Tech growth, suburban expansion
• Springfield - Affordable housing, growing population
• Columbia - University town, steady rental market
• Branson - Vacation and retirement properties
• Lake of the Ozarks - Waterfront and resort properties

Total Cost Breakdown

Resources

• MREC Official Website - Official licensing information
• PSI Services - Exam scheduling and information
• Missouri REALTORS - Industry resources and forms
• OpenExamPrep - Free study materials and practice questions

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