New Mexico Frequently Ask Questions Real Estate License

New Mexico Frequently Ask Questions Real Estate License

On this page you will find a full list of frequently asked questions about how to get your New Mexico real estate license, the New Mexico real estate broker course, how to prepare for the NM state exam, how to renew your NM real estate license, and general real estate profession questions.

About the 90-Hour New Mexico Real Estate Broker Pre-License Course

You must take a New Mexico Real Estate Commission-approved total of 90 hours of pre-licensing courses. The education requirements break into (3) 30-hour sections covering: ● Real estate principles and practice ● Real estate law ● Broker basics

Read More

You must take a total of 90 hours of pre-licensing courses. The NMREC breaks the required education into three 30-hour courses: real estate principles and practice, real estate law, and broker basics.

Read More

You can take the New Mexico real estate pre-license courses as an online or an in-person course. Online courses offer the most flexibility and are more affordable options for meeting the education requirement.

Read More

Yes, you can take your education online as along you choose a New Mexico Real Estate Commission approved pre-licensing education provider.

Read More

No, New Mexico does not have any exemptions in its licensing process for law school or currently licensed and practicing attorneys.

Read More

The New Mexico Real Estate Commission does not recognize any college coursework or degrees from accredited institutions in its licensing requirements. You will still have to take the 90 hours of pre-licensing education.

Read More

The individual 30-hour courses will have a test to wrap your course. Your course provider will provide you with information on the final exam. You must pass the exam to earn your required course completion certification.

Read More

You must work through the units in the pre-license courses, pass any quizzes, and successfully pass the final exam. Upon completion, you will earn the certificate.

Read More

The exact number of questions on the pre-license course tests does vary based on the current section of the course you are taking. The course administrator will let you know how many questions are on the various quizzes and the comprehensive final.

Read More

RealEstateU students will find their pre-license course completion certificate in their account after they successfully pass the test.

Read More

Visit the New Mexico Real Estate Commission to find an approved pre-licensing education provider.

Read More

You will be required to submit the three course completion certificate showing that you have successfully completed all the required education. The certificates must be dated within three years of your license application to qualify for the broker state exam.

Read More

Your New Mexico pre-license education course completion certificates are valid for three years to take the state licensing exam. Refer to the earliest dated certificate when scheduling the test.

Read More

Applying for a New Mexico Real Estate License

Before you apply for your license: ● Be at least 18 years of age ● Take 90 hours of pre-licensing education ● Pass the state licensing exam ● Submit fingerprints for a background check ● Purchase E & O insurance

Read More

New Mexico uses a paper application process. Find the license application form in the Candidate Information Bulletin. Include your state licensing exam score report, fingerprint documentation, insurance policy coverage certificate, license application fee, and supporting documents related to Section D.

Read More

No, New Mexico does not have an online application portal for real estate licensing. You will need to print out the license application from the back of the Candidate Information Bulletin.

Read More

Your New Mexico associate broker license application fee is $270.

Read More

Submit with your associate broker license application ●The licensing exam score report showing you passed both sections ●Fingerprint certification documentation ●Certificate of E&O insurance policy coverage ●The non-refundable license application fee of $270 ●Any supporting documents to answers as detailed in Section D

Read More

You should turn in your license application within six months of passing the licensing exam, as soon as you have submitted your fingerprints for a background check, secured E & O insurance, and gathered all of your supporting required documentation.

Read More

New Mexico will issue you a real estate associate broker license if you have not been hired by a supervisory qualifying broker. However, it will be an inactive license, and you will be unable to practice real estate activities.

Read More

If you have an inactive license, you cannot engage in any real estate brokerage activities. An active license means you can work as a real estate agent, perform real estate brokerage activities, and be compensated for work as a real estate professional.

Read More

If you are currently licensed, you need to request to be placed on inactive status by returning your license to the qualifying broker in charge. Your qualifying broker will return the license to the real estate commission and it will be inactivated.

Read More

For the New Mexico Real Estate Commission to issue you an active broker license, you must have been hired by a supervisory qualifying broker. This individual must fill out the section on your broker license application designated for their information.

Read More

If you decide to inactivate your license, you need to request a change of status with your qualifying broker. Your broker-in-charge will return your license to the New Mexico Real Estate Commission. The NMREC will inactivate your license and hold on to it.

Read More

Both types of licenses enable you to work in the business of real estate. You will be able to assist clients with the purchase, sale, lease, or management of real property. However, a qualifying broker license enables you to run your own business and hire employees to work under your supervision.

Read More

You will need to contact the New Mexico Real Estate Commission to check on your application status.

Read More

The New Mexico Real Estate Commission will mail your real estate associate broker license to your New Mexico brokerage firm.

Read More

Receive enrollment information about the group plan from the NMREC offices or from Rice Insurance Services by calling 800.637.7319. Also, your hiring brokerage may also have a group insurance policy. Ask the qualifying broker about their policy and if you are covered under it.

Read More

Disclosing Prior Criminal Activity in New Mexico

The New Mexico Real Estate Commission will review your application and criminal history check. Any felonies or convictions for crimes involving moral turpitude are grounds for denial.

Read More

Any felonies or convictions for crimes involving moral turpitude are grounds for a broker license denial. The New Mexico Real Estate Commission follows the stipulations of the Criminal Offender Employment Act, 28-2-1, NMSA.

Read More

Your prior criminal history will appear in your background check reports, which are sent to the New Mexico Real Estate Commission. The license application does not ask about your criminal history, but if you have had professional complaints filed, had a license denied, or been sued regarding real estate transactions.

Read More

Getting Fingerprinted in New Mexico

Yes, New Mexico broker license applicants are required to submit fingerprints for a state and national background check.

Read More

You must first register on the state vendor website Gemalto. Use the NMRC identifier number "M920263Z" to register and pay the $44 processing fee. Alternatively, you can register by calling 1-877-996-6277. Next, find Live Scan locations by contacting Cogent ID.

Read More

The New Mexico Real Estate Commission does not provide an estimate for how long it takes to process a fingerprint and background check. You can expect it to take anywhere from ten days to four weeks. Some applicants’ processing may take longer.

Read More

How to Get a New Mexico Real Estate License

You must complete the following steps to earn your NM Broker’s license: 1) Complete 90-Hour NM Pre-license Broker Course 2) Apply to take the NM broker state exam 3) Pass the state licensing exam 4) Obtain E&O insurance 5) Be fingerprinted for a background check 6) Submit a broker license application

Read More

Earn your NM broker license in approx. 3 months. 1)Complete the 90-hour pre-license course online: 2-4 weeks 2)Apply for the NM state exam: 1-3 weeks 3)Schedule and pass the state exam: 1-3 weeks 4)Submit fingerprints for a background check: 1-3 weeks 5)Purchase E&O insurance 6)Apply for your license. Estimate time N/A

Read More

Earn your New Mexico real estate associate broker license for as little as $1,507. These costs are spread out over the entire licensing process and paid to different vendors.

Read More

You’ll have tests during your three pre-license education courses. You have to pass the tests to earn your course completion certifications. The most important test is the New Mexico broker license exam. You must pass the test to apply for a license.

Read More

No, New Mexico doesn’t have an online application process. Find the application at the end of the Candidate Information Bulletin published by PSI or on the NMREC website under applications and forms.

Read More

New Mexico License Qualifications / Requirements

You must have reached the age of majority in New Mexico, which is 18 years, or the state in which the applicant resides.

Read More

No, a high school diploma or its equivalent is not required to earn a New Mexico broker license.

Read More

Yes. New Mexico does not have a state residency requirement for holding a real estate license.

Read More

The New Mexico Real Estate Commissions has information about real estate license law and the Commission rules.

Read More

New Mexico Real Estate License Renewal

New Mexico is updating to an automated and online license renewal system that is expected to become available at the end of 2021. Once the system is in place, all licensees will be required to renew using the updated system. Meanwhile, you’ll need to submit a printed renewal application.

Read More

The New Mexico associate broker's license renewal fee is $270.

Read More

Your New Mexico real estate associate broker's license is valid for three years. The expiration date is the last day of the licensee's birth month. If your birthday was June 15, then your license will expire on June 30 of a given year. Check your license for the expiration date.

Read More

All new associate brokers must take either the New Broker Business Practices or CCIM 101 course within their first year of licensure. The commission-approved New Broker Business Practices can count for ten credit hours towards your continuing education.

Read More

All active associate broker license holders must take 36 hours of continuing education in commission-approved courses during each 3-year licensing cycle. At least 12 cumulative hours must be in the annual 4-hour NMREC Core Course series. Associate Brokers must take at least four core elective hours per cycle.

Read More

New Mexico inactive associate brokers are held to the same standard as active licensees. This means you must meet your 36 hours of continuing education and take the required courses each year.

Read More

The renewal process is the same as an active license holder. You'll need to use the new online renewal licensing system. The New Mexico Real Estate Commission must have an active email address on file for you to use the renewal system.

Read More

Once the new New Mexico licensing renewal system is up and running, you will receive an email that your license will expire soon and it is time for you to renew.

Read More

If you fail to renew your New Mexico associate broker license on time, your license will expire. You could be required to apply for a license as though you have not been licensed before, and you may need to retake the licensing exam. You may also be charged a $540 late fee.

Read More

New Mexico Real Estate Profession Questions

If you hold a New Mexico real estate broker license, you can earn a commission by representing sellers and buyers in the selling, purchasing, listing, exchange, or leasing of any real property.

Read More

A New Mexico real estate associate broker license is required to represent a buyer or seller in a real estate transaction and earn a commission or compensation for your services.

Read More

You will need to fill out a New Mexico license transfer application and send to the Real Estate Commission with your original license, copy of errors and omissions insurance policy, and a $20 fee.

Read More

New Mexico Reciprocity and Out-of-State Licensees

New Mexico has a license recognition agreement with Massachusetts, Louisiana, and Georgia. If you are a candidate for reciprocity, you need to contact [email protected]

Read More

If you are a licensed real estate professional in Massachusetts, Louisiana, and Georgia, you are a candidate for reciprocity. For your specific licensing steps, contact [email protected]

Read More

You can apply for a waiver of 60 of the 90 hours of pre-licensure education and the national section of the state licensing exam. Provide a certified license history from your current licensing jurisdiction that shows you have completed Real Estate Principles and Practice and Real Estate Law or their equivalent.

Read More

You must follow all the same steps as a New Mexico resident. This means meeting the 90-hour pre-license education requirement, passing the state licensing exam, carrying E&O insurance, and being hired by a state licensed qualifying broker.

Read More

RealEstateU Questions in New Mexico

Yes, RealEstateU is a Commission-approved pre-license course provider. We offer the 90-hour course as an online, flexible program for $749.

Read More

Scheduling Your New Mexico Real Estate Licensing Exam

No. You have to turn in your three course completion certificates with the examination registration form. PSI will then approve your exam eligibility, and you'll be able to schedule the exam after that.

Read More

Your course completion certificates are good for three years. You need to schedule and pass your New Mexico broker exam within that time limit.

Read More

First, send in the exam registration application found in the Candidate Information Bulletin. PSI will mail you a postcard once it approves your testing eligibility. Finally, go online to PSI to schedule your exam appointment.

Read More

The New Mexico state real estate licensing exam fee is $95. You'll pay PSI using a credit card. Exam fees are non-transferable and non-refundable.

Read More

You will directly pay PSI, the state’s exam provider, using a credit card. PSI accepts Visa, Mastercard, American Express, or Discover cards. All exam fees must be received in advance of the exam. Exam fees are non-transferable and non-refundable.

Read More

You can be registered and scheduled for the New Mexico broker license exam within an hour. Online scheduling is the quickest and easiest way to schedule the exam. You can also be scheduled within an hour by calling PSI at 855-557-0621. If you choose standard mail, fax, or email, the process will take longer.

Read More

PSI operates testing centers in Albuquerque, Farmington, Las Cruces, Roswell, Santa Fe, and some locations in Colorado and Texas. Please go online to find the test center nearest you or find the addresses in the Candidate Information Bulletin.

Read More

You can be licensed through reciprocity if you are actively licensed in Massachusetts, Louisiana, and Georgia. If you are actively licensed in another state, you can apply for a waiver to the national section of the state exam. You'll need to send a certified license history to the New Mexico Real Estate Commission.

Read More

If you need to notify your exam appointment, you need to call PSI at 855-557-0621. Make any changes at least 48 hours in advance, or you will forfeit your exam fee. Please note that voicemails and emails do not count as changes to your exam appointment.

Read More

Taking the New Mexico Real Estate Licensing Exam

The New Mexico Broker Pre-licensure Exam consists of a national and a state section. The national selection asks 75 questions, and you must answer 60 correctly. The state selection has 50 questions, and you must answer 38 correctly. There may be 5 to 10 unscored experimental questions.

Read More

You will be tested on national and state real estate-related content. Topics include property ownership, land use controls, financing, market analysis, property disclosures, and contracts. State-specific questions ask about the NM Commission, licensing, regulatory requirements, broker duties, and specific NM topics.

Read More

You don't need to, but you can. Only non-programmable calculators that are silent, battery-operated, do not have paper tape printing capabilities, and do not have a keyboard containing the alphabet will be allowed in the examination site.

Read More

You will need to bring (2) forms of identification. One must be state or federal government-issued, like a driver’s license or passport. The secondary form can be another primary ID or something which contains your signature, like a credit or debit card.

Read More

PSI can accommodate testing modifications in accordance with the ADA. Anyone requesting accommodations must fill out the accommodations request form and submit documentation from a medical authority or specialist about their limitations.

Read More

No electronic devices are allowed in the testing room. Personal belongings must be placed in the on-site secure storage or stored in your vehicle. No food or drink is allowed in the testing room. You will be asked into your pockets and lift up the ends of any sleeves to show you are not concealing anything.

Read More

Yes, you don't need to have been hired by a brokerage or a qualifying broker to take the state licensing exam.

Read More

Yes. You have six months after passing the New Mexico broker exam to apply for your broker's license, or you must retake the licensing exam.

Read More

Congratulations on passing the exam. Your next steps are to: ● Be hired by a New Mexico qualified broker ● Submit fingerprints for a background check ● Purchase E&O insurance ● Apply for your license

Read More

Part of your broker license application requirement is to turn in the written score report showing that you have passed both sections of the New Mexico licensing exam; you can't be approved for a license without this.

Read More

If you fail all or part of the New Mexico broker license exam, you have 90 days to pass the test. You can take it as many times as you need to within that 90 days.

Read More

You'll know how you did on your New Mexico broker licensing exam as soon as you finish. Your score will appear on the screen, and you'll leave the testing center with a printed score report. If you have failed one or both test sections, you will see diagnostic information on your strengths and weaknesses.

Read More

Yes, you can take the New Mexico real estate broker exam again. Just keep in mind you only have 90 days to pass the test after you take it the first time.

Read More

Wait 24 hours before trying to reschedule your New Mexico broker exam. Then you can log on to your PSI account or call PSI at 855-557-0621 to schedule your retake. You'll have to pay the examination fee of $95.

Read More

Every time you take the New Mexico broker licensing exam it costs $95, regardless of the number of sections you are taking.

Read More

You can just take the failed section, but you'll still pay the full $95 examination fee. You have to pass your retake within 90 days of your first test.

Read More