How To Become A Real Estate Agent In New Mexico

To earn and maintain a New Mexico real estate license, you have to meet specific training requirements set by the New Mexico Real Estate Commission (NMREC). Pre-license courses make you eligible to take the state exam and post-license courses qualify you to keep an active license. You'll need to continue meeting educational requirements throughout your career to renew your license.

Unfortunately, we don't offer New Mexico real estate courses at the moment. Nonetheless, we've prepared the real estate career guide below because we know how overwhelming licensing regulations can be. We'll outline the steps necessary to obtain and maintain your New Mexico license. Check NMREC's website to find a list of approved training providers.

What Does "Broker" Mean in New Mexico?

In most states, entry-level licensees are referred to as "salespersons" or "sales agents." The term "broker" is reserved for talking about the next level of licensing, which allows a real estate professional to handle financial transactions, oversee new agents, own their own brokerage, and more.

In New Mexico, the Real Estate Commission uses the term broker for all licensees. Entry-level licensees are "associate brokers," and the next level of licensing is called a "qualifying broker."

It's a little confusing, but we're going to use New Mexico's terms while we talk about their process.

What Are New Mexico's Real Estate Pre-Licensing Education Requirements?

To earn your New Mexico associate broker's license, NMREC requires 90 hours of pre-licensing coursework from an approved provider.

Curriculum includes:

  • 30 hours of Real Estate Principles and Practices
  • 30 hours of Real Estate Law
  • 30 hours of Broker Basics

Who is Eligible to Become a Real Estate Agent in New Mexico?

To apply for an associate broker's license in New Mexico, you need to be a legal US citizen or lawfully admitted alien, have a high school diploma or the equivalent, and be at least 18 years old.

What Else Do I Need to Do to Earn My New Mexico Real Estate License?

Aside from the required pre-license education, NMREC requires you to:

  • Pass the New Mexico Associate Broker Licensing Exam
  • Get fingerprinted for a national arrest record database
  • Obtain a sponsoring broker and Errors and Omissions (E&O) insurance
  • Submit your application

What is the New Mexico Real Estate Licensing Exam Like?

You have to take your licensing exam within 3 years of completing your pre-licensing coursework. It's administered by PSI, a third-party testing service.

The New Mexico Salesperson License Exam has two portions: a general/national portion and a state-specific portion. You'll have 2 hours to complete the 80-question General portion, and 1 hour to complete the 50-question state portion.

You'll learn whether you passed or failed before you leave the testing center.

What is the Deadline for my New Mexico Real Estate License Application?

You have 6 months after passing both portions of your state licensing exam to turn in your associate broker application.

Your fingerprinting needs to be done 21 days or less before you apply.

What Are the Real Estate Post-Licensing Requirements in New Mexico?

Within your first year of holding an Associate Broker's license, you need to complete a 30-hour post-licensing course called New Broker Business Practices.

How Often Does a New Mexico Real Estate License Have to Be Renewed?

New Mexico real estate licenses must be renewed every 3 years.

What Are New Mexico's Continuing Education Requirements for Real Estate?

NMREC's Continuing Education requirements changed in 2017. As of 2020, the transition to the new requirements is complete.

Every 3 years, New Mexico real estate licensees must complete 36 Continuing Education hours from an NMREC-approved provider.

For Associate Brokers, this includes:

  • 12 hours of Annual Core Course credit (4 hours every year)
  • a 4-hour Core Elective course (residential, commercial, property management, or vacant land)
  • 4 hours of Ethics credit
  • 16 hours of approved electives, including no more than 10 hours categorized as "Training"

If it's your first renewal as an Associate Broker, your 30-hour post-licensing course can count as 10 hours towards your continuing education requirements.

For Qualifying Brokers, the requirements include:

  • Qualifying Broker Refresher Course (which is 6 hours long but does not fulfill CE hours)
  • 12 hours of Annual Core Course credit (4 hours every year)
  • 8 hours of Core Elective credit
  • 4 hours of Ethics credit
  • 4 hours of credit for attending at least one NMREC Meeting or Disciplinary Hearing
  • 8 hours of approved electives

The penalty for failing to complete one Annual Core Course per renewal cycle is taking the 30-hour Broker Basics course for no continuing education credit. If you miss two Annual Core Courses, you'll need to repeat the Broker Basics course again.

What Kind of Jobs Can I Get with a New Mexico Real Estate License?

A real estate license can lead to a number of different career options in New Mexico, including:

  • Residential real estate agent
  • Commercial real estate agent
  • Qualifying broker
  • Property manager

Each job has a wide selection of niches and specialties to pick from. Some practice areas pay more than others, but those often necessitate further certification or licensing.

You can get a general idea of the salary you can expect as a real estate agent in New Mexico based on 2019 wage data from the Bureau of Labor Statistics:

Job Title Average Hourly Wage Average Yearly Wage
Associate Brokers $25.90 $53,860
Qualifying Brokers $49.34 $102,620
Property Managers $21.53 $44,790

Commission-based jobs like real estate have a broad range of income. As a result, some earn little, while others make big bucks.

Check out our Resources page to learn more about different career opportunities, real estate niches, and how commissions work.

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