Article Summary: This article will help anyone looking for information pertaining to a real estate license in the state of New Mexico or anyone looking to become a real estate agent or realtor in New Mexico. Contents of this article may include information on real estate education, schools, training courses, continuing education, tests and exams, laws, license requirements, renewal information, forms and more..
The
New Mexico
Real Estate Commission, with offices in Albuquerque, enforces the Real Estate
License Law for the state.
The
requirements for a real estate salesperson license in New
Mexico include being at least 18 years of age and a legal resident of the United
States. Applicants from another state need to submit a certified license certificate
or certified license history. Salesperson applicants need to successfully complete
60 hours of approved classroom instruction within the three years preceding their
application. 30 hours of these courses need to be on Real Estate Law, and 30 hours
need to be on Real Estate Practice. All applicants need to pass the real estate
exams.
The
requirements for a real estate broker license in New Mexico
include being at least 18 years of age and a legal resident of the United States.
Those currently licensed in another state need to submit a certified license certificate
or certified license history. All broker applicants need to meet one of the following
experience and education requirements:
- The applicant must have been active as a New Mexico licensed salesperson
for at least 24 of the preceding 36 months and have successfully completed
90 hours of approved classroom real estate courses.
- Or, the applicant must have successfully completed 180 hours of specific classroom
courses in real estate, and not have the 24 months of prior active salesperson
experience.
- Or, the applicant must be currently licensed as a real estate broker in
another state for at least one year and have completed 90 hours of specific
classroom real estate courses.
- Or, the broker license applicant must provide proof of equivalent experience
in an activity closely related to real estate, and also successfully complete
90 hours of specific classroom real estate courses. All applicants for the
broker license need to successfully pass the real estate exams.
The
approved
real estate schools for both prelicensure and continuing education offer classroom
courses, correspondence and distance education courses. The schools are conveniently
located throughout the state.
The
examination fees for either a salesperson or a broker are $95.00. This covers both the national portion of
the exam and the state portion.
The
license
fee for a new 3-year license for either a broker or salesperson license is
$240.00. The 3-year
renewal fee for either a broker or salesperson is
also $240.00. All licenses are issued for three years.
New Mexico has a Licensure Recognition with five other states: Colorado, Wyoming, Georgia, Oklahoma, and Montana.
Applicants licensed in other states need to check with the New Mexico Real Estate Commission for their requirements.
Many of the
New
Mexico real estate forms are available online for your convenience.
Real estate careers are strengthened by membership in the many organizations
that provide services for the professional agent. Organizations like the
Realtors
Association of New Mexico and the National Association of Real Estate Brokers
(
http://www.nareb.com) (NAREB)
assist many in locating
real estate jobs within the industry. The Association
of Real Estate License Law Officials (
http://www.arello.org)
(ARELLO) and The National Association of Realtors (
http://www.realtor.org)
(NAR), the world's largest professional association, are excellent resources for
professional enrichment and real estate education.
We also offer information and resources for New Mexico Commercial Mortgage