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NEWS
New Mexico Real Estate Commission and GAAR Take Steps to Expedite Licensing Transactions
The Real Estate Commission and the Greater Albuquerque Association of Realtors (GAAR) have signed a memorandum of understanding aimed at expediting licensing transactions, especially license transfers.
Commission President Gretchen Koether said she hopes the memorandum will serve as a template for similar agreements with local boards and associations around the state.
She said that although on-line license renewals have also been problematic, most of those problems are related to outdated software over which the Commission has little control. License transfers were chosen as a focus for the agreement because they are in area in which improvements can be made quickly. (To Read Entire NEWS Article, Click Here) To Read the Text of the Memorandum of Understanding, please click the following: NMREC-GAAR MOU
Click Here for:
If a broker intends to offer property management services or is currently offering property management services he must file the Property Management Declaration ASAP (as soon as possible). SCAN AND SEND THE DECLARATION TO THE ATTENTION OF ROXANNE ROMO, LICENSING MANAGER, AT: ROXANNE.ROMO@STATE.NM.US
LICENSING REQUIREMENTS
The New Mexico real estate commission issues two types of real estate broker’s licenses; an associate broker’s license and a qualifying broker’s license. Both types of licenses are issued only to individuals. The requirements for obtaining both types of licenses are described below.
Examination and Licensing Requirements: In General
A person not licensed to practice real estate in New Mexico must pass the real estate broker's examination as prescribed by the NM Real Estate Commission.
Reciprocity -- This requirement does not apply to licensed applicants from the three states with which New Mexico has a written license recognition agreement (i.e. reciprocity). Those states are: Massachussetts, Louisiana, and Georgia. If you are such a candidate, please contact thomas.baca@state.nm.us for an License Recognition Agreement License Application.
Applications to take the broker’s examination are made directly to the commission’s examination contractor. Along with the application form, an applicant must submit certificates of completion of commission-approved 30 hour pre-licensing courses in real estate principles and practice, real estate law, and broker basics, equalling 90 prelicensure education hours. These pre-licensing courses must have been completed within the three years prior to application to take the broker’s examination.
Prelicensure Education Waiver - Examination candidates currently licensed as real estate salespersons or brokers in other states or jurisdictions are eligible to apply for a waiver of 60 of the 90 hours of prelicensure education if they can provide a certified license history from their resident licensing jurisdiction documenting that they have completed Real Estate Principals and Practice and Real Estate Law or their equivalent. The waiver would also exempt an applicant meeting these criteriae from taking the national broker exam. That applicant would still be required to take a 30 hour Broker Basics Course, and take the state portion of the broker examination. Click the following link to access the Waiver Fact Sheet.
QB Equivalency - Managing brokers, designated brokers or similar brokerage-in-charge brokers may be considered equivalency applicants for Qualifying Broker licensing purposes. While they are subject to prelicensure waiver provisions, they would also be required to take an additional statutorily required Qualifiying Broker prelicensure course, the Brokerage Office Administration Course.
Examination Minimum Score -- Applicants are required to pass both the state and national portions of the examination with a minimum score of 75 no later than 90 calendar days after the first time they took the examination. Applicants failing to pass both portions of the examination within this time frame will be required to re-take and pass both portions of the examination before being eligible to apply for a broker’s license.
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Application Deadline Following Passing Score -- An individual who fails to apply for a broker's license within six months of having passed both or applicable portions of the broker’s examination shall be required to re-take both or the applicable portions of the examinations after 180 days of notification of the passing score(s), unless they can provide in writing to the commission a reasonable explanation why they were unable to meet the six month deadline.
Legal Residency - An applicant for an associate broker’s license shall be a legal resident of the United States and have reached the age of majority in New Mexico or in the state in which the applicant resides.
Submission of License Application, Fingerprinting and Fees - Along with the license application form prescribed by the commission, the applicant must submit a written score report provided by the examination contractor documenting that he/she has passed both portions of the examination with a minimum score of 75, documentation of having been fingerprinted for purposes of matching with state and national arrest record databases, a certificate of insurance documenting that the applicant has a current errors and omissions insurance policy that meets the requirements for such insurance as described in 16.61.5 NMAC of the commission rules, and a non-refundable license application fee not to exceed $270.
Fingerprints -- Contact www.cogentid.com regarding fingerprints. Livescan Cogent Fingerprint Locations (Click on Fingerprint Location Map on the Cogent website for details). Click here also for locations
Scan system of licensee fingerprinting and no longer accepts hardcopy fingerprint cards unless you are a broker who resides outside the State of New Mexico. New Mexico brokers use the Live Scan digital fingerprinting system. Out of state brokers use hardcopy fingerprint cards. The fingerprint cards included in renewal packets are for out of state brokers.
Prior to being fingerprinted at one of the approved Live Scan sites (statewide site list attached), licensees are required to register on the vendor web site at https://www.aps.gemalto.com. Licensees need the New Mexico Real Estate Commission identifier number, which is NM920263Z, to register. Licensees may also register by phone at 1-877-996-6277.
Licensees may pay the $44.00 fingerprint processing fee on line on the https://www.aps.gemalto.com website using a credit or debit card at the time of registration, or pay the fee by money order or cashier’s check at the Live Scan site at the time of fingerprinting. No cash or personal checks are accepted.
Because the fingerprints are being transmitted electronically, licensees using the Live Scan system no longer have to mail hardcopy fingerprint cards to DPS. However, licensees should ask the Live Scan vendor to complete the Fingerprint Certification Form that is enclosed in the application and renewal packets as licensees will need to submit that form to the Commission along with their application or renewal form. The registration receipt provided by Cogent at the time of online registration is also an acceptable form of documentation to submit with licensure paperwork.
Licensees outside New Mexico who do not have access to an approved Live Scan vendor may submit hardcopy fingerprint cards and payment to 3M Cogent at the following address:
3M Cogent, New Mexico CardScan
639 N Rosemead Blvd.
Pasadena, CA 91107
Please do not hesitate to contact a Real Estate Commission Investigator at (505) 222-9881 if you have any questions.
Livescan Cogent Fingerprint Locations (Click on Fingerprint Location Map on the Cogent website for details). Click here also for locations
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Continuing Education Requirement
36 hour CE Requirement: All active and inactive associate brokers and qualifying brokers shall successfully complete thirty-six (36) credit hours of continuing education in courses approved by the commission during each 3-year licensing cycle. Click here for the Approved Course List
Rules which became effective on January 1, 2017, apply to any and all who renew after that date. The new rules require the following:
Composition of the 36 Hours: 36 total hours. Of those 36 hours, you must have the following:
1. Annual Core Course Requirement. The rules require that each licensee have 12 cumulative hours comprised of the annual 4 hour NMREC Core Course series; OR the 8 hour NMREC Mandatory course which was no longer offered after Dec 31, 2016. Remember that the 4 hour NMREC Core is to be an annual requirement within the context of the licensees’ 3-year cycle. Click Here to Access the NMREC Core Course Planning Guide and see which annual iterations of the NMREC Core Course apply to a specific 3-year cycle.
2. Ethics Requirement: 4 hour ethics elective (There are online options). This requirement is not the same as requirements from various Realtor Associations or National Assocation of Realtors groups for membership compliance although it is possible that a course taken to meet those requirements may be considered for CEU credits for licensure renewal. Click the following link to acces a list of Ethics designated courses that may help meet the Commision's license renewal requirement:
3. Core Elective Requirement: 4 hour “core elective” [not to be confused with the NMREC Core Course]. These are courses in our catalogue of approved courses which have received a “core elective” designation by the NMREC. Qualifying Brokers are required to take 8 hours of core electives. .jpg)
4. Property Management CE Requirements:
- Submission of a Property Management Declaration Form: This Property Management Declaration form is availble for QBs and ABs by clicking the following:
- Qualifying Brokers: 6 hour NM Uniform Owner Resident Relations Act Course or commission approved 6 hour Commercial Property Management Course. Additionally, QBs must take an additional 12 hours of property management courses within their three year 36 hour cumulative minimum requirement.
- Associate Brokers: 6 hour NM Uniform Owner Resident Reations Act Course or commission approved 6 hour Commercial Property Management Course. Additionally, ABs must take an additional 6 hours of property management courses within their three year 36 hour cumulative minimum requirement.
- Commission Meeting Attendance Requirement for all Property Managers including Associate Brokers. The following Property Manager CE Tracking Sheets will be helpful:
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For the Core Course Schedule and other course schedules and online offerings, please click on the following link (be patient; it takes a while to load up) Core Course Offerings
Click Here to access to the Approved Course List
NMREC Core Course Planning Guide
On Line Courses: Some of the approved schools and sponsors have on-line offerings. You can see on line offerings by clicking On-line Offerings
Exemption from Continuing Education: The only exemption to the continuing education requirement applies ONLY to brokers who have attained sixty-five (65) years of age AND have attained twenty (20) years continuous years of licensure in New Mexico prior to July 1, 2011. This is an exemption created in the Statutes of New Mexico.
Training Hours vs. Education Hours: Ten (10) credit hours may be credited toward the continuing education requirement from approved training category courses. Twenty six (26) must be taken from approved education category courses
Prelicensing Courses as Continuing Education: Commission approved pre-licensing courses may count for up to ten (10) credit hours toward continuing education if the course is being used to upgrade from associate broker to qualifying broker.
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New Broker Business Practices or CCIM 101 Post Licensing Requirement: By NMREC Rule, either the New Broker Business Practices or the CCIM 101 Course is to be taken by all new Associate Broker licensees within the first year of licensure.The commission approved thirty (30 classroom hour) New Broker Business Practices course may count for up to ten (10) credit hours toward continuing education.
- No commission approved continuing education course will be granted more than ten (10) credit hours of continuing education credit.
- Continuing education credit hours cannot be carried forward to the next licensing cycle.
- Brokers may receive four (4) approved education course credit hours during each licensing cycle for attending commission meetings, rules hearings, and disciplinary hearings as well as the meetings of the Educational Advisory Committee
- Approved Pre-licensing and Continuing Education instructors may use up to ten (10) credit hours during each three-year licensing cycle toward fulfillment of their own continuing education requirements for teaching commission approved courses.
Qualifying Broker Continuing Education and Other Renewal Requirements
QB Refresher Course Applies to All QBs: However, all active qualifying brokers are required to successfully complete a six (6) hour qualifying broker refresher course as a condition of license renewal or as a condition of reinstatement of qualifying broker status regardless of age or years of licensure.
QB Required Attendance at Meetings and/or Disciplinary Hearings: Beginning January 1, 2018, each Qualifying Br.jpg)
oker must attend either a NMREC Meeting or an NMREC Disciplinary Hearing once in their 3 year cycle. Up to 4 hours of CE credit may be awarded for such attendance.
QB Required to take 8 hours of core electives: All QB’s will be require to take 8 hours of any core elective unless the QB practices Property Management.
QB Property Management requirement: All Property Managers must submit the appropriate Property Management Declaration which iterates their relative property management continuing education requirements each cycle. QB Property Managers must take the 6 hour NM Uniform Owner Resident Relations Act Course OR the commission approved 6 hour Commercial Property Management Course. Additionally, QBs must take an additional 12 hours of property management courses within their three year 36 hour cumulative minimum requirement. The Qualifying Broker Property Management Declaration Form can be accessed by clicking the following:
Qualifying Broker Property Management Declaration
A Qualifying Broker/ Property Management Continuing Education Tracking sheet can be accessed by clicking the following:
Qualifying Broker / Property Manager CE Tracking Sheet
QB Affidavit of Supervision: In order to renew, all QBs must submit a Notarized affidavit regarding supervisory responsibilities: You can access a form by clicking: QB Supervisory Affidavit
QB Supervisory Associate Broker Plans: The rules require that the QBs who supervise Associate Brokers must submit a plan for each Associate Broker keeping track of continuing education compliance, mutual expectations between QB and AB, monitoring of performance in accordance with Independent Contractor Agreements. The purpose of this requirement is to ensure that Qualifying Brokers take seriously, their responsibilities relative to the work and compliance of those they supervise. The Commission does not have a mandated format for such agreements but offers the following example as a template from which to develop a customized plan.
Approved Courses and Schools/Sponsors Links
- Approved Course List [not a catalogue of course schedule, course offerings or availability]
- Course Numbering System Description
- Approved Schools/Sponsors
- Approved Instructor List
Approval of Real Estate Courses, Sponsors, & Instructors
Courses offered for New Mexico Real Estate Commission (Commission) approved credit are offered by sponsors and/or schools approved the Commission.
Sponsors, Schools and Instructors who have been approved by the Commission offer an array of pre-licensing, post licensing and continuing education courses. All courses for each of these phases of education are approved by the Commission after having been reviewed and recommended for approval by the Education Advisory Committee (Committee). Courses offered by schools, sponsors and instructors are approved on a course-by-course basis. The process is set by rule of the Commission as are the respective fees. [Part 15, 16.61.15.7 - 16.61.15.12]
Review and consideration for (1) the establishment of new courses, (2) new instructors, (3) instructor's proposing to teach specific courses for which they have not yet received approval, (4) course sponsors (i.e. any of the regional or local Realtor Associations, or professional certification associations) and (5) schools, takes place at monthly meetings of the Committee. These reviews and decisions regarding the committee's recommendations to the Commission are preceded by submission of the appropriate respective application. Respective fees are set by the commission and are not due upon submission of the application to the Education Administrator. Please click the following Fees link. The Committee meets each month on the third Wednesday of the month. Prospective Instructors, sponsors and schools can access the Committee review and recommendation process by clicking the following: EAC Instructor Appearance Procedures for Permanent Course Approvals
Some sponsors propose "one-time" only courses wherein the proposed course is approved for credit but may only be taught one time. The instructors for these sponsored events need not submit an application for approval. Sponsors submit applications for one-time courses in behalf of the instructor following the application instructions. The course presentation and appearance procedures are the same as for all course approvals. Each sponsor is limited to 10 such one-time events. Instructors need not necessarily be a real estate licensee. Some courses may be by subject matter experts in various tangential industries that are integral to the practice of real estate such as financial institutions, title institutions, and the bar associations among others. Please click the appropriate link below for the application that pertains to your interest.
Applications for New Instructors, Instructors, New Courses and Sponsors/Schools
- Continuing Education CE Permanent New Course Application
- Instructor Application
- Instructor Application Supplemental Documents
- Distance Education Course and Instructor Application
- EAC Instructor Appearance Procedures for Permanent Course Approvals
- Sponsor/ School Application [DOC - This application will open in your computer's word processor to allow you to fill it in in your computer.]
- One-Time Continuing Education Course Sponsor Application
- New Mexico Providers (of Education) Upload Instructions
Online Rules of the Real Estate Commission Course
Instructor Resources
Instructors may access the course materials for Brokerage Relationships, NMREC Mandatory Course, Qualifying Broker Refresher Course and Rules of the Real Estate Commission at the Instructor Resources webpage. Contact Thomas Baca at (505) 222-9825 for a username and password.
Core Course Planning Guide (click here)
For education-related questions, e-mail Thomas Baca, Education Administrator at Thomas.Baca@state.nm.us
