How to Become a Real Estate Agent in New Mexico

Who can apply

• Be a legal U.S. resident who has reached the age of majority.
• Complete 90 hours of Commission-approved prelicensing courses within the 3 years before you apply for the exam.
• Pass both the national and New Mexico state broker exams.
• Pass a biometric (fingerprint) federal criminal history background check.
• Carry errors and omissions (E&O) insurance that meets 16.61.5 NMAC.

Step by step

1. Take three Commission-approved 30-hour courses: Real Estate Principles and Practice, Real Estate Law, and Broker Basics (90 hours total).
2. Apply online for exam eligibility with PSI, the Commission's exam contractor, and pay the $95 exam fee.
3. Pass the national and state broker exams with at least 75% on each, within 90 days of passing the first one.
4. Get an E&O insurance policy and find a qualifying broker to work under.
5. Apply for the associate broker license through RLD Online Services, upload your scores and E&O certificate, and pay $270 plus the $30 recovery fee.
6. Complete the fingerprint background check using the instructions RLD emails after you apply.
7. Within your first year of licensure, complete the 30-hour New Broker Business Practices course (or CCIM 101).

Official application →

Training and exam

Training: New Mexico has no salesperson license; the entry-level license is the associate broker. You need three Commission-approved 30-hour courses (Real Estate Principles and Practice, Real Estate Law, and Broker Basics), 90 hours in all, completed within the 3 years before you apply for the exam. Brokers licensed in another state may ask for a waiver of 60 of the 90 hours with a certified license history, but must still take the 30-hour Broker Basics course.

Exam: Given by PSI. The national broker exam has 75 questions worth 80 points (pass with 60 correct, 120 minutes); some questions are worth up to 2 points. The New Mexico state exam has 50 questions (pass with 38 correct, 60 minutes). The Commission requires at least 75% on each. The fee is $95 for both portions, and retakes are $95 for one or both. If you fail one portion you retake only that portion, but you must pass both within 90 days of passing the first or retake both. PSI eligibility lasts one year. Passing scores must be used within six months.

What it costs in New Mexico

Fixed amounts are set by the state. Items marked “your quote” are priced by private sellers, so enter what you’re quoted.

What other sites get wrong about New Mexico

After you're licensed

Renewal: Licenses renew every 3 years for $270 (late renewal within one year of expiration is $810). Associate brokers need 36 hours of CE per 3-year cycle: the 4-hour core course in each of years 1, 2 and 3 (12 hours), a 4-hour ethics course, 4 hours of core electives, and other electives. New licensees must also finish New Broker Business Practices (30 hours, counts for up to 10 CE hours) or CCIM 101 within their first year. Fingerprints are not required for renewal.

Good to know in New Mexico

Qualifying broker: An associate broker works under a qualifying broker. The online application asks for your supervising qualifying broker's license number.

Reciprocity: New Mexico has reciprocal agreements with Georgia, Louisiana and Massachusetts: holders of a current broker license there need no prelicensing education and neither exam portion, but must send a certified license history. New Mexico has no reciprocity for salesperson licenses, and education waivers go only to licensed brokers, not salespeople.

Sources

• NM RLD — Real Estate Commission Licensing, Registration and Renewal
• NM RLD — Real Estate Commission Fees
• NM RLD — Instructors, Training Requirements and Continuing Education
• NM RLD — Background Report Instructions
• PSI — New Mexico Real Estate Candidate Information Bulletin
• NM RLD — Real Estate Commission FAQs