New Mexico Real Estate Licenses
If you’re aiming for a New Mexico real estate license, this guide outlines all the essential steps, including real estate continuing education requirements.
It’s suitable for everyone in the state, with specific insights for residents of Albuquerque (NM).
We cover the best real estate classes and online courses available, offering comprehensive resources to help you succeed in New Mexico’s real estate market.
Don't Become a Realtor If...
If you’re seriously interested in getting your real estate license, here are some great additional resources:
Requirements
To become a real estate agent in New Mexico, you must:
- Be at least 18 years old
- Be a U.S. citizen or lawful permanent resident
- Have a high school diploma or equivalent (GED)
Like all US states, New Mexico allows out-of-state applicants, so you do not need to reside there to become licensed as a real estate agent.
Pre-Licensing Education
Complete 90 hours of pre-license education through courses approved by the New Mexico Real Estate Commission (NMREC). These courses include:
- 30 hours of Real Estate Principles and Practice
- 30 hours of Real Estate Law
- 30 hours of Broker Basics
Examination
New Mexico Real Estate Exam Details
Exam Structure
- Total Questions: 130 multiple-choice questions
- National Portion: 80 questions
- State-Specific Portion: 50 questions
- Time Limit: 4 hours total
- Passing Score: 75% on each section
Registration and Fees
- Exam Fee: $95, payable when scheduling the exam.
- Registration: After completing pre-licensing education, submit your initial application via the New Mexico Real Estate Commission (NMREC) website. Once approved, register for the exam through PSI Services.
Identification Documents
- Candidates must bring two forms of identification on exam day, including a government-issued photo ID with a signature (e.g., driver’s license or passport).
Exam Difficulty and Passing Rates
The New Mexico Real Estate Exam is considered moderately challenging, with candidates needing to score 75% or higher on both the national and state-specific sections.
Required Forms and Documents
- Pre-License Education Certificate
- Proof of completing 90 hours of pre-license education from an approved provider.
- Initial License Application
- Submit your initial license application through the New Mexico Real Estate Commission (NMREC) website after completing your pre-licensing education.
- Application Fee
- The application fee is $270, which covers the license application and criminal background check processing.
Background Check
- Fingerprinting
- Submission
- The fingerprint results are sent directly to the New Mexico Real Estate Commission and are part of the application review.
- Processing
- The New Mexico Real Estate Commission reviews the background check results before issuing your license.
Application
After passing the exam and completing the background check, submit your license application to the New Mexico Real Estate Commission.
- Application Fee: $270
Post-Licensing Education
New sales associate licensees in New Mexico must complete 30 hours of post-licensing education within their first year of licensure. The post-licensing course focuses on practical real estate issues specific to New Mexico and is required to maintain an active real estate license.
Required Course Topics (30 hours)
- Real Estate Law: A review of New Mexico-specific real estate law and contracts.
- Trust Accounts and Recordkeeping: An overview of trust account management and required recordkeeping procedures.
- Brokerage Relationships: Understanding brokerage relationships and disclosure requirements.
- Risk Management: Methods for managing risks and handling client relationships.
Submission Deadline
- The post-licensing education must be completed by the first license renewal, which is required within the first year of obtaining the license.
Post-Licensing Application Fee
- The post-licensing education does not require a separate application fee beyond the standard renewal fees.
License Renewal
- Upon completion of the post-licensing education, licensees must submit proof of completion when applying for their first license renewal through the New Mexico Real Estate Commission (NMREC).
Continuing Education
Total Hours Required: 36 hours of continuing education are required every three years.
- Mandatory Courses:
- Core Course: All licensees must complete a 4-hour New Mexico Real Estate Commission Core Course annually (12 hours in total over the three-year cycle).
- Ethics: At least one course must focus on professional ethics (this is typically included in the core course).
- Elective Courses:
- The remaining hours can be completed through elective courses approved by the New Mexico Real Estate Commission.
Additional CE for New Licensees:
- New Broker Business Practices (NBP): Brokers who are newly licensed (those within their first licensing cycle) must complete this 30-hour course within their first year of licensure. This counts toward their 36-hour CE requirement.
Carryover Policy:
- Up to 10 hours of elective continuing education may be carried over to the next licensing cycle.
Approved Providers:
- All CE courses must be completed through providers approved by the New Mexico Real Estate Commission.
New Mexico Real Estate Education Options
Online Options
New Mexico provides a range of excellent online real estate education options, with major providers offering flexible digital courses. Kaplan stands out as the top choice, surpassing others like Colibri due to its impressive pass rates, strong customer satisfaction, and high-quality course materials.
If you’re interested in exploring other options, we’ve also secured special discounts for additional programs. The CE Shop is the most budget-friendly choice, and by combining our 30% discount with their 20% military discount, you can maximize your savings.
While all of the courses are reasonably priced, Kaplan remains our top recommendation thanks to its solid reputation and high success rates. If you’re aiming for the best foundation for your real estate career in New Mexico, it’s definitely worth considering.
1. The CE Shop – Best Budget Course
The CE Shop is the most affordable option for real estate education in New Mexico, providing a solid self-paced curriculum.
Pros
- Most affordable: The 30% discount makes it the cheapest option.
- Self-paced: Flexibility for students to study at their own speed.
Cons
- Mixed reviews: Some students report engagement issues and customer service problems.
- No live instruction: Entirely self-paced learning.
Get 30% off with Discount Code “INBOUNDREM” using our CE Shop discount link.
2. Kaplan Real Estate
Kaplan Real Estate offers a structured learning experience for New Mexico students, with live online and self-paced formats.
Pros
- Multiple formats: Offers live online classes and self-paced options.
- Experienced instructors: Known for delivering high-quality education.
Cons
- Higher cost: More expensive than budget options, but justified for quality.
Get 10% off with our Kaplan Real Estate discount link.
3. Colibri Real Estate
Colibri Real Estate provides flexible learning formats, including self-paced courses and live webinars, suitable for New Mexico students.
Pros
- Flexible formats: Self-paced and live webinars available.
- Pass guarantee: Refund if you don’t pass the state exam.
Cons
- Additional costs: Study resources may increase the total price.
Up to 15% off with our Colibri Real Estate discount link.
In-Person Options by Major Cities
Albuquerque:
- University of New Mexico Continuing Education: Offers in-person pre-licensing and continuing education courses.
- Greater Albuquerque Association of REALTORS®: Provides in-person real estate courses, including pre-licensing education.
Santa Fe:
- Santa Fe Community College: Offers in-person pre-licensing and continuing education classes.
- Santa Fe Association of REALTORS®: Provides in-person real estate education.
Las Cruces:
- New Mexico State University: Offers a variety of in-person educational courses for pre-licensing and continuing education.
Reciprocity
Full Reciprocity
New Mexico offers full reciprocity with the following states:
- Louisiana
- Massachusetts
- Georgia
- New York
If you hold an active real estate license in one of these states, you can apply for a New Mexico real estate license without additional education or examination requirements. You must submit an application and pass a background check.
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Partial Reciprocity
New Mexico offers partial reciprocity with other states. If you hold an active real estate license in another state, you may qualify for a waiver of some of the pre-licensing education requirements.
You will still need to pass the New Mexico state-specific portion of the real estate exam and fulfill other state-specific requirements.
For detailed information and required forms, visit the New Mexico Real Estate Commission Reciprocity Information.
Broker's License
To become a real estate broker in New Mexico, you must:
- Have at least two years of active real estate salesperson experience within the last five years
- Complete 120 hours of broker pre-license education
- Pass the New Mexico Real Estate Broker Examination
- Submit a broker license application to the New Mexico Real Estate Commission
Criminal Record
The New Mexico Real Estate Commission reviews applications from individuals with a criminal record on a case-by-case basis.
If you have a felony or other serious criminal conviction, you may still apply for a real estate license, but the Commission will consider the nature of the crime, the time elapsed since the conviction, and evidence of rehabilitation.
Crimes involving fraud, theft, or moral turpitude are particularly scrutinized. It’s recommended to contact the New Mexico Real Estate Commission directly to discuss your specific circumstances and determine your eligibility.
Cost Breakdown
Item | Cost Range |
|---|---|
Total | $965 – $1,565 |
Pre-License Education | $400 – $700 |
Exam Fee | $95 |
Background Check | $50 – $100 |
Application Fee | $270 |
Post-Licensing Education | $100 – $200 |
Continuing Education | $50 – $200 per cycle |
Resources and Contacts
- New Mexico Real Estate Commission: (505) 222-9820 | rld.realestate@state.nm.us
- Street Address: 5500 San Antonio Dr. NE, Suite #B, Albuquerque, New Mexico 87109
- Telephone: (505) 222-9820 or (800) 801-7505
- Fax: (505) 222-9886
- License Renewal Website
- PSI Examination Services: (800) 733-9267
Document Checklist
- Proof of age (ID, birth certificate)
- Proof of U.S. citizenship or lawful permanent resident status
- High school diploma or GED certificate
- Completion certificates for 90 hours of pre-license courses
- Exam pass notification from Pearson VUE
- Fingerprint submission and background check confirmation
- Completed application form for the New Mexico Real Estate Commission
- Payment for application fee
Step-by-Step Guide to Becoming a Real Estate Agent in New Mexico
- Meet Basic Requirements: Ensure you are at least 18 years old, a U.S. citizen or lawful permanent resident, and have a high school diploma or equivalent (GED).
- Complete Pre-License Education: Enroll in and complete 90 hours of pre-license courses approved by the New Mexico Real Estate Commission.
- Schedule and Pass the Examination: Register for the New Mexico Real Estate Salesperson Examination through Pearson VUE. Study for and pass the exam, ensuring you achieve a minimum score of 75% on both the national and state-specific portions. Pay the exam fee of $95.
- Submit to a Background Check: Arrange for fingerprinting and a criminal background check through a New Mexico Department of Public Safety-approved vendor. Ensure all required documentation is submitted to the New Mexico Real Estate Commission.
- Submit Your Application: Complete and submit the real estate license application to the New Mexico Real Estate Commission, including the application fee of $270.
- Find a Sponsoring Broker: To activate your license, find a licensed New Mexico real estate broker to work under. This is required for both temporary and permanent licensure.
- Complete Post-Licensing Education: Within the first year of obtaining your license, complete 30 hours of post-licensing education.
- Begin Your Real Estate Career: Once your license is issued, start your career as a licensed real estate agent in New Mexico.
- Complete Continuing Education: Every three years, complete 36 hours of continuing education, including mandatory and elective courses, to maintain and renew your license.
New Mexico Real Estate Agent Salary
In New Mexico, real estate agents earn an average salary of $75,164 per year, with typical earnings ranging from $30,000 to $140,000.
The median salary is around $70,000, suggesting a relatively balanced income distribution.
Top agents, particularly in areas like Albuquerque and Santa Fe, can earn upwards of $160,000 annually.
New Mexico’s real estate market offers a diverse range of opportunities, influenced by the state’s unique cultural and natural attractions.
The moderate cost of living further enhances the attractiveness of these earnings, offering a comfortable lifestyle for successful agents.
FAQs
Can I become a real estate agent in New Mexico if I have a felony?
The New Mexico Real Estate Commission reviews applications from individuals with a criminal record on a case-by-case basis. Certain felonies, particularly those involving fraud or moral turpitude, may disqualify you. Contact the Commission for specific inquiries.
How long does it take to become a real estate agent in New Mexico?
It typically takes 3-6 months to complete the pre-license education, pass the exam, and obtain your license.
What is the cost to become a real estate agent in New Mexico?
The total estimated cost ranges from $965 to $1,565, including education, exam fees, background checks, and application fees.
Does New Mexico have reciprocity with other states?
New Mexico has full reciprocity with several states and partial reciprocity with others. You may need to pass the New Mexico state-specific portion of the real estate exam and meet other requirements.
Summary
Becoming a real estate agent in New Mexico involves meeting educational requirements, passing an exam, undergoing a background check, and completing post-license and continuing education.
By following these steps and utilizing the provided resources, you can successfully start and maintain your real estate career in New Mexico.
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