Frequently Asked Questions
If I have a license in another state, can I transfer my license over to New Mexico?
New Mexico has license recognition agreements with Georgia, Louisiana, Massachusetts, and Tennessee. Individuals with licenses from these states may obtain New Mexico broker’s licenses with no additional pre-licensing requirements and are not required to take the broker’s examination. However, they must meet all other licensing requirements, including obtaining an arrest record check from their state of residence, a license history from their licensing jurisdiction, and a professional liability (errors and omissions) insurance policy with minimum coverage of $100,000 per occurrence and $500,000 aggregrate. See the License Recognition page for an application.
Individuals holding current real estate licenses from all other states and licensing jurisdictions are required to take the broker’s examination to become licensed in New Mexico, but may eligible for a pre-licensing course waiver of up to 60 hours upon submitting written documentation from their licensing jurisdiction that they have completed the equivalent of two, 30-hour prelicensing courses in Real Estate Principles and Practice and Real Estate Law. Except for applicants from license recognition states, all other broker license candidates must complete the Commission-approved 30-hour Broker Basics before being eligible to take the broker’s exam.
Can I have more than one real estate broker's license in New Mexico?"
Qualifying Brokers can have more than one qualifying broker's license. Associate brokers can have only one associate broker's license and that license must hang with a Qualifying Broker in order for that Associate Broker to be able to engage in real estate brokerage activity.
I want to transfer my license to another office. How do I do that?
You would need to fill out a transfer form, have your new Qualifying Broker sign the form, and submit your license with a $20 fee and proof of E&O.
I want to place my license on “inactive status.” What do I need to do?
Just mail the license back to the Commission and it will automatically be placed on “inactive status.”
Arrest Record Checks
I just opened my renewal application packet and realized that I have to get an Arrest Record Check from the Department of Public Safety. My renewal is due very shortly, and I’m not sure I can get the DPS form back so that I can renew on time.
The fastest way to get an arrest record check is to hand carry the form and a check for $15 to the Department of Public Safety (DPS) Office, located at 4491 Cerrillos Road in Santa Fe. Phone (505) 827-9181 and ask for the Records Division. Records Division staff can notarize your authorization form, but you must sign the form in the presence of the notary.
I don’t live in New Mexico or I’ve only lived in New Mexico a short time. What do I do about the Arrest Record Check?
Request it from the agency in your former state of residence that is the equivalent of the New Mexico Department of Public Safety, such as the State Police, the State Bureau of Investigation, etc.
If you don’t know what agency that would be, call the Real Estate Commission in your state.
How recent does the Arrest Record Check have to be?
It should be within the last six months, but if you have undergone a background check for some other purpose, such as qualifying for a Concealed Carry Permit, or working for a school or day care center, we will accept that in lieu of the DPS check as long as there is a document (such as a copy of the Concealed Carry Permit or teacher registration) that we can put in the file in lieu of the background check.
For more information about obtaining an arrest record report, go to the Department of Public Safety website.
Errors and Omissions Insurance
New Mexico Real Estate License Law and Real Estate Commission Rules require any broker with an active real estate broker's license to maintain an Errors and Omissions (E&O) insurance policy that meets the Commission’s requirements. For information about Errors and Omissions Insurance provided by Rice Insurance Services Corp, the Real Estate Commission’s E&O contractor, or to enroll in the program click here.
Pre-Licensing Education Waivers
I have a real estate license in another state and I want to know if any of my experience or education from that state will count towards my pre-licensing education requirements in New Mexico.
Possibly. If you can provide us with documentation that you have completed the equivalent of a pre-licensing Real Estate Principles and Practice or a Real Estate Law course in your state, it is possible that 60 of the 90 hours of required pre-licensing education can be waived.
The 30 hour Broker Basics Course cannot be waived because of its New Mexico-specific content.
Principles and Practice and Law are available through distance education from some New Mexico real estate schools and sponsors, but Broker Basics must be taken in the classroom.
Write a letter addressed to the Education Administrator requesting a pre-licensing waiver and attach transcripts, course outlines, license histories, or any other information that will help us determine if you have taken equivalent courses.
Courses taken for Continuing Education Credit will not be considered for pre-licensing waiver purposes unless those courses are at least 30 hours in length.
