Step 1: Take the 90-hour Pre-license education courses
All New Mexico real estate broker candidates must take (3) 30-hour pre-licensing courses:
- Real estate Principles and Practice
- Real estate law
- Broker basics
You will receive a certificate of completion for each of the three courses. These courses must be completed within three years of the application to take the broker's examination. Find an approved pre-licensing education provider for your courses.
Step 2: Apply to take the state licensing exam
The state contracted PSI to administer the exam. Find the examination registration form at the end of the Candidate Information Bulletin. Submit your certificates of completion of the pre-licensing courses with your application form.
PSI will send an eligibility postcard with instructions on scheduling your state exam. PSI recommends online scheduling as the quickest way to schedule your exam. Telephone scheduling is available by calling (855) 557-0621. The examination fee is $95 made payable to PSI via credit card.
See the Candidate Information Bulletin for test centers and other registration options.
Step 3: Take the state licensing exam
Bring to the testing center (2) forms of identification. One must be a government-issued ID with has your photograph or physical description and your signature.
About the New Mexico Associate Broker Exam:
- The national section has 75 questions worth 80 points. The time allowed is 120 minutes.
- The state section has 50 questions. You have 60 minutes to answer.
You must pass both sections with a minimum score of 75%. Immediately upon finishing your exam, your score will appear on the screen. You also receive a printed score report. If you fail one or both sections of the exam, you have 90 days to pass the failed section of the test.
Step 4: Purchase E&O insurance
All the real estate professionals must carry an Errors & Omissions Insurance policy that meets the requirements for such insurance described in 16.61.5 NMAC of the commission rules. The NMREC has a contracted insurance carrier, Rice Insurance Services. Call 800-637-7319 for enrollment information. Your brokerage may also have a group insurance policy.
Step 5: Submit fingerprints for a background check
All New Mexico broker license applicants are required to submit fingerprints for a state and national background check. First, you must register on the state vendor website Gemalto.
You'll need the NMRC identifier number "M920263Z" to register. The fingerprint processing fee is $44 and can be paid online using a credit or debit card. You can also pay the fee by money order or cashier's check at the Live SScan'ssite at the time of fingerprinting.
After registering on Gemalto, contact Cogent ID for Live Scan locations. Make sure to have your Live Scan vendor complete the Fingerprint Certification Form. YYou'llneed to submit this with your application.
Step 6: Apply for your NM broker's license
Once you have passed the state exam, you have six months to apply for your broker's license.
Find the license application form at the end of the Candidate Information Bulletin. The license fee is $270, payable to the NMREC by cashier's check, money order, or personal check.
Submit with your broker license application:
- The written score report showing you have passed both sections of the state licensing exam
- Fingerprinting documentation
- Certificate of E&O insurance policy coverage
- The nonrefundable license application fee of $270
- Any supporting documents to answers as detailed in Section D
Once your license is received by your New Mexico brokerage firm, congratulations! You are now a practicing New Mexico associate broker.