Real Estate Commission: FAQs
Q: What are the changes in the Continuing Education requirements beginning January 1, 2017?
The following inset is directly from the language approved by the NMREC pursuant to rule hearings held in 2016. In summary they stipulate that beginning on January 1, 2017, licensees:
1. Must meet the higher 36 hour CE requirement.
2. Must take an annual 4-hour CORE COURSE each of the three years of their renewal cycles. (Unless the Mandatory Course has already been taken; in which case, the "Core Course requirement will not apply until the next licensing cycle.")
3. Must meet a 4-hour ethics course requirement
4. Must meet a 4-hour core elective requirement (Courses can be selected from an approved on-line and live course list accessible by clicking the following link.) live class core electives on-line core electives
Q: If I renew my license on January 31, 2017, does that mean I should be prepared for these new requirements including the 36 hour cumulative requirement?
Q: If I took the 8 hour NMREC Mandatory Course, is that sufficient even for renewals that take place in 2017?
Q: But if I took the 8 hour NMREC Mandatory Course, would I have to still take the 4 hour CORE COURSE?
NO, the Mandatory meets the requirement.
Q. What if I did not take the Mandatory and renew in 2017?
A licensee would then have to take a 4 hour CORE COURSE as a condition of renewal
Q. Can the 4-hour ethics course requirement be any ethics course?
Presently, yes, as long as the course is NMREC approved and has an 8 digit course number.
Q. What are the Core Electives we can choose from? Where do I find them?
The licensee can meet the 4-hour Core Elective requirement by taking any of the courses from the list of core electives (live or on-line) approved by the NMREC. Some courses may exceed the 4 required hours but that is acceptable. You may see these approved lists by clicking on the following links: live class core electives on-line core electives
Q: What are the requirements for getting a New Mexico real estate broker's license?
- Complete 90 hours of pre-licensing education courses consisting of three 30 hour courses in Real Estate Principles and Practice, Real Estate Law, and Broker Basics, and pass the two-part real estate broker's examination with a minimum score of 75 percent.
- Applicants with current broker's licenses in other states may apply for a waiver of the Real Estate Principles and Practice and Real Estate Law courses and the national portion of the real estate broker's examination by submitting a written request to the Commission Education Director, accompanied by a certified license history from the state or states in which the applicant is currently licensed. The remaining 30-hour Broker Basics course cannot be waived and is available only in the classroom.
- The waiver of the national portion of the examination is also extended to New Mexico associate brokers upgrading to qualifying brokers.
- Applicants with active licenses must also purchase and maintain an errors and omissions insurance policy that complies with Commission Rules. Please see Part 7, Fingerprinting and Arrest Record Checks, of the Commission Rules for details.
- Click on the following link for a more specific description of the Licensing process: Licensing Requirements
Q: Will I be required to submit to a criminal background check when I apply for a real estate license?
Yes. Effective January 1, 2012, all applicants for licensure will be fingerprinted and their fingerprints matched with a national criminal data base.
Q: Does having a criminal record disqualify me from getting a real estate license?
- Only if the criminal record includes a felony conviction and if fewer than three years have elapsed since completion of a sentence or probation.
- The Commission takes criminal records into consideration on a case-by-case basis.
Q: Do I need to be a resident of New Mexico to get a real estate license?
Q: Do I need a real estate license to buy, sell, rent, or lease my own property?
Q: Do I need a real estate license to manage someone else’s property, even if the other person is a friend or relative and it’s just one house or apartment?
Q: Is there a criminal penalty for practicing real estate without a license in New Mexico?
Yes. Effective July 1, 2011, it is a fourth-degree felony punishable by a $5,000 fine and 18 months imprisonment to practice real estate without a license.
Q: How do I file a complaint against a real estate broker?
Click here to download a complaint form. Complete, sign, and get the form notarized, attach all relevant documents and mail to, Chief Investigator, New Mexico Real Estate Commission, 5500 San Antonio Dr. NE, Suite B, Albuquerque, NM 87109.
Q: If I am a licensed real estate professional in another state, how do I qualify for a waiver of 60 hours of pre-licensure education requirements?
You must write, fax or email to the NM Real Estate Commission, Education Administrator, your request for the waiver. You must also attach a copy of a licensure history for the state(s) through which you are licensed currently and any states for which you were previously licensed. If it is determined that you meet the qualifications for a waiver, you will be sent an waiver letter.
You must attach that signed waiver letter to your application for the exam. You must take 30 hours of the Broker Basics class and show proof you took that class. If you communicate by fax or regular mail, please include your e-mail address in order to facilitate our communication with you. Please click on the following link for a full outline of the process. Pre-licensing Education Waiver
Q: Does the State of New Mexico have Recognized Licensure status with other states? (Reciprocol Licensing Agreements)
New Mexico currently has such agreements with only three (3) other states: Georgia, Louisiana, and Massachusetts. Historically, New Mexico had several such agreements. However, in recent times other states have chosen not to have these agreements in order to maintain adherence to changing licensing requirements in their respective states. License applicants currently licensed by state or jurisdiction with which the NM Real Estate Commission has a written recognition agreement are not required to take any of the prescribed pre-licensing courses or take either portion of the broker's examination to be eligible to apply for a New Mexico broker's license. Click here for the License Recognition Agreement Application and Information.
Q: Who do I talk to about a dispute with my landlord?
The Real Estate Commission doesn’t have jurisdiction over landlord-tenant disputes. Most of these disputes have to be settled in court. However, the Commission may have limited jurisdiction if there is a real estate broker involved in the transaction. As a resource to consumers and brokers, the Commission has included the Owner-Resident Relations Act as an appendix in the 2012-2013 edition of the New Mexico Real Estate License Law and Real Estate Commission Rules manual.
Q: Do I need to have a real estate license to auction off real property?
The Attnorney General of the State of New Mexico has opined on this question and is of the opinion that an auctioneer would have to have a NM real estate license to transact real estate sales of real property in the State of New Mexico.
Q: Who can I contact with questions? [Click on the name for an email link]