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FAQ: New Mexico Frequently Ask Questions Real Estate License

Categories > New Mexico
  • About the 90-Hour New Mexico Real Estate Broker Pre-License Course
  • Applying for a New Mexico Real Estate License
  • Disclosing Prior Criminal Activity in New Mexico
  • Getting Fingerprinted in New Mexico
  • How to Get a New Mexico Real Estate License
  • New Mexico License Qualifications / Requirements
  • New Mexico Real Estate License Renewal
  • New Mexico Real Estate Profession Questions
  • New Mexico Reciprocity and Out-of-State Licensees
  • RealEstateU Questions in New Mexico
  • Scheduling Your New Mexico Real Estate Licensing Exam
  • Taking the New Mexico Real Estate Licensing Exam

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

What course I need to take to get a NM real estate broker license?

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

How many hours of education are required to get a NM license?

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.

How can I take the 90-hour NM real estate license course?

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.

Can I take the 90-hour NM real estate license course online?

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

Can I use my law degree to exempt me from the NM pre-license course?

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

Can I use my college credits towards the NM pre-license course?

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.

Does the NM broker pre-license course have a final exam?

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.

What to do to earn the NM pre-license course completion certificate?

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.

How many questions are on the NM pre-license course exams?

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.

How do I receive my NM Course Completion Certificate?

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

Where can I find approved pre-license course providers in NM?

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

How does the NMREC know that I have completed the pre-license course?

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.

How long is my NM Course Completion Certificate valid for?

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.

Applying for a New Mexico Real Estate License

What are the requirements to apply for a NM 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

Can I apply online for the NM real estate associate broker license?

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.

How much is the NM real estate associate broker license application?

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

Can I get a NM real estate broker license if I don't work for a broker

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.

What is the difference between an active and inactive license in NM?

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.

How do I receive an inactive NM real estate license?

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.

How do I receive an active New Mexico real estate broker license?

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.

How do I change from an inactive to an active NM license?

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.

How is a NM broker license different from a qualifying broker license?

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.

Where can I check my NM broker license application status?

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

How do I get a paper copy of my NM real estate broker license?

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

Where can I get E&O Insurance in New Mexico?

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.

How do I apply for my New Mexico real estate broker license?

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.

What documents I need to submit with my NM broker license application?

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

When should I file my license application with the Commission in NM?

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.

Disclosing Prior Criminal Activity in New Mexico

Can I get my New Mexico broker license if I have a prior conviction?

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.

How should I disclose any prior criminal activity to the NM Commission

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.

What offenses would disqualify me from receiving a NM Broker License?

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.

Getting Fingerprinted in New Mexico

Do I need to be fingerprinted in NM to earn a broker’s license?

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

How do I get my fingerprints taken in New Mexico?

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.

How long does fingerprinting and a background check take in NM?

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.

How to Get a New Mexico Real Estate License

How do I get my New Mexico real estate associate broker's 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

How long does it take to get my NM real estate license?

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

How much does it cost to get my NM broker's real estate license?

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.

What tests do I need to take to get my NM real estate license?

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.

Can I complete the application for a NM broker's license online?

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.

New Mexico License Qualifications / Requirements

Do I need a high school diploma to get my NM real estate license?

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

Can I get a NM real estate license if I'm not a state resident?

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

Where can I find regulatory information about NM real estate licenses?

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

How old do I have to be to get a NM real estate license?

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

New Mexico Real Estate License Renewal

How much does it cost to renew my NM real estate license?

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

How often do I have to renew my NM real estate broker license?

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.

What happens if I do not renew my NM license on time?

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.

How do I renew my New Mexico real estate license?

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.

What are the CE requirements in NM for first-time associate brokers?

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.

What are the CE requirements for active licensees in New Mexico?

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.

What are the CE requirements for inactive licensees in New Mexico?

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.

How do I renew an inactive NM real estate license?

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.

How soon can I renew my NM real estate license?

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.

New Mexico Real Estate Profession Questions

What can I do with my New Mexico real estate license?

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.

When is a real estate license required in New Mexico?

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.

What must I do in NM if I transfer qualifying brokers?

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.

New Mexico Reciprocity and Out-of-State Licensees

How can I get my NM license if I'm already licensed in another state?

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.

How do I get my NM real estate license if I'm not a NM resident?

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.

Does New Mexico offer reciprocity with other states?

New Mexico has a license recognition agreement with Massachusetts, Louisiana, and Georgia. If you are a candidate for reciprocity, you need to contact thomas.baca@state.nm.us.

How can I get my NM real estate license through reciprocity?

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 thomas.baca@state.nm.us.

RealEstateU Questions in New Mexico

Is the RealEstateU New Mexico pre-license course state-approved?

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

Scheduling Your New Mexico Real Estate Licensing Exam

Can I schedule the NM exam without taking the pre-license course?

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.

How long do I have after finishing the NM course to take the exam?

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

How much does the NM real estate broker license exam cost?

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.

How do I schedule my NM real estate broker licensing exam?

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.

How do I pay for the NM state licensing exam?

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.

How long it takes to register and schedule my NM broker license exam?

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.

Where can I take the NM real estate licensing exam?

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.

How do I change or cancel my NM state exam date?

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.

Do I need to take the NM state exam if I’m licensed in another state?

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.

Taking the New Mexico Real Estate Licensing Exam

How many questions are on the NM state broker 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.

Do I need to bring a calculator for the NM State Exam?

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.

What is included on the New Mexico state broker licensing exam?

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.

What is required to bring with me to the NM state broker license exam?

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.

Are there any testing accommodations available for the NM State Exam?

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.

Can I take my NM State Exam if I don't have an employing broker?

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

What are the exam policies at the New Mexico PSI testing center?

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.

How will the NM Commission know my exam results?

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.

How many times can I take the NM state broker license exam?

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.

How long does it take to get my NM State Exam results?

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.

I failed my NM real estate broker exam. Can I take it again?

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.

How do I retake the NM State Exam if I previously failed?

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.

How much does it cost to retake the NM State Exam?

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

I failed one portion of the NM exam. Do I have to retake both sections

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.

Do my NM State Exam results expire?

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.

I just passed my NM real estate exam, now what?

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

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Categories > New Mexico
  • About the 90-Hour New Mexico Real Estate Broker Pre-License Course
  • Applying for a New Mexico Real Estate License
  • Disclosing Prior Criminal Activity in New Mexico
  • Getting Fingerprinted in New Mexico
  • How to Get a New Mexico Real Estate License
  • New Mexico License Qualifications / Requirements
  • New Mexico Real Estate License Renewal
  • New Mexico Real Estate Profession Questions
  • New Mexico Reciprocity and Out-of-State Licensees
  • RealEstateU Questions in New Mexico
  • Scheduling Your New Mexico Real Estate Licensing Exam
  • Taking the New Mexico Real Estate Licensing Exam

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