New Mexico State Required Pre-Licensing Hours: 90 hours
Agent Real Estate Schools New Mexico Course Hours Offered: 90 hours
Step 1: Meet the state’s requirements as outlined on the New Mexico Real Estate Commission website.
- You must be 18 years old and above
- You must be a legal resident of United States
Step 2: Complete the required 90-hour pre-licensing course at an institution approved by the New Mexico Real Estate Commission.
Step 3: Register and pass the licensing exam by earning a score of 75% or higher.
Step 4: You must obtain and provide proof of Error & Omission Insurance.
Step 5: You must submit your fingerprints and pass a criminal background check.
Step 6: Submit your application for a New Mexico real estate Associate Broker license. Be sure to follow the application procedures required by NMREC.
Note: Before you can be fingerprinted, you must first register on the state vendor website Gemalto. After registering on Gemalto, you will need to contact Cogent ID for Live Scan locations.
How Long Does It Take to Get a New Mexico Associate Broker License?
It can vary from person to person depending how fast or slow you can complete the required 90 hours of pre-licensing courses. You must also pass your licensing examination as well as completing the application process, fingerprinting process, obtaining E&O insurance, and the application processing times are also a factor.
What Kind of Information Will I Learn to Help Me Get a Real Estate License in New Jersey?
All courses are approved by New Mexico Real Estate Commission. Once completed you are eligible to sit for the New Mexico Associate Broker Licensing Exam.
Agent Real Estate Schools gives a window of 3 years prior to application to take the Broker’s exam (as required by New Mexico state) to finish the required 90 hours.
The required courses within the 90 hours include:
- 30 Hours of Real Estate Principles and Practice
- 30 Hours of Real Estate Law
- 30 Hours of Broker Basics
How Much Does It Cost to Get a Real Estate Associate Broker License in New Mexico?
Becoming an Associate Broker in New Mexico requires time and money but is very rewarding. An aspiring agent will spend up to $1150.
How these costs break down:
- Pre-licensing exam coursework can run up to $599.
- Exam fees run $95.
- License fees for an agent cost $270.
- Required fingerprints will cost $44.
- E&O Insurance will cost $136 (this fee varies)
Real Estate License Reciprocity
Yes New Mexico has reciprocity with select states.
Out-of-state residents are required to:
- You must pass the real estate Broker's examination as required by the New Mexico Real Estate Commission.
- If you’re currently licensed as real estate Salesperson or Broker in other jurisdictions, you’re eligible to apply for a waiver of 60 of the 90 hours of Pre-Licensing education if you can provide a certified license history from your resident licensing jurisdiction documenting that you’ve completed “Real Estate Principals and Practice” and “Real Estate Law''. You would still be required to take a 30-hr. “Broker Basics Course” and take the State portion of the Broker examination.
- If you’re licensed in another state, you’ll need not less than four years’ experience as the equivalent of an Associate Broker during the 60-month period immediately preceding the filing of your application with verification in writing by your qualifying Broker(s) or the state’s applicable equivalent to a qualifying Broker.
How Do I Apply for The New Mexico Real Estate Associate Broker Licensing Exam?
The Associate Broker exam must be taken through PSI. The state requires that you achieve a score of 75% or higher to pass. PSI will send an eligibility postcard which contains instructions on how to schedule the exam. You can schedule your exam online by visiting PSI or by calling (855) 557- 0621.
For more Information on how to schedule the examination, you can refer to the Candidate Information Bulletin.
Note: Fees paid to the NMREC do not include the exam fee. The exam fee must be paid separately to PSI.
How Do I Submit My Fingerprints for The Background Check?
As an applicant for your real estate license, you are required to submit fingerprints and complete a background check. To start with, you will need to register with the state Vendor website Gemalto. You’ll need the NMRC identifier number “M920263Z to register after which you will contact Cogent ID for live scan locations. The vendor must complete the fingerprint certification form as you will need it when submitting your application for licensure.
How Do I Take the New Mexico Broker Licensing Exam?
The New Mexico Broker Licensing Exam is divided into two parts:
- Part 1: National Exam which has a total of 75 questions that must completed within 2 hours.
- Part 2: State Exam which has a total of 50 questions that must be completed within 1 hour.
You must pass both sections of the exam, earning a score of 75% or higher. You will receive your test result immediately after completing the exam. You must bring 2 forms of identification with you to the testing center
Note: If you fail one or both sections, you are required to retake the failed portion(s) within 90 days of your first attempt.
How Do I Submit My New Mexico Associate Broker Application?
Upon passing both portions of the exam, you have 6 months to apply for your New Mexico Associate Broker’s License you are required to attach some other important documents.
- PSI score report which shows you successfully passed the licensing exam
- Fingerprint certification form
- Proof of obtaining E&O insurance
- Proof of paying the nonrefundable license application fee
- Any supporting documents to answers as detailed in section D
New Mexico Real Estate License Renewal
New Mexico real estate licenses are good for three years. Renewal fees will run you $270.
Does New Mexico Require Post-Licensing Education?
New Mexico real estate agents who are renewing their licenses or filing for a late renewal must complete 36 hours of approved continuing education coursework.
The required courses within the 36 hours include:
- 4-hour NMREC core course to be completed annually (will need 12 hours of this course)
- 4 hours Ethics course to be completed once during renewal period
- Of the remaining 16 hours, no more than 10 hours may be earned toward the education requirements with training category courses. All 16 may be earned with education category courses.
- The NMREC core course requirement will apply to those licensees who have not completed the eight-hour mandatory course by December 31st, 2016.
- The NMREC course will have a unique course name and course number each year including the year in which it is presented.
Obtaining Certificate of Course Completion: Upon completion of the course, you will be provided an electronic certificate of completion which can be found in the “my courses” tab in your student portal. Next to each completed course you will find an icon for the course completion certificate.
You will be required to submit your certificate of completion with your license request, please refer to your license application to determine if this is necessary.
New Mexico Regulation & Licensing Department
Phone 🙁 505) 476- 4500
2550 Cerrillos Road, Santa Fe, NM 87505
5500 San Antonio Dr Albuquerque, NM 87109