Real Estate Commission: Licensing Requirements and Continuing Education
Continuing Education/ License Renewal News:
4-Hour Core Elective Lists Approved by NMREC
On September 19, 2016, the New Mexico Real Estate Commission approved a list of Core Electives that will be applicable and necessary for license renewals after January 1, 2017. The recently adopted rule changes that become effective on January 1 contain a provision that requires licensees to have: 36 hours cumulatively in a 3-year cycle; a 4-hour "core elective;" a 4-hour ethics course; and to take a 4 hour CORE Course annually unless the 8-hour Mandatory Course has already been taken. The lists of approved core electives has been integrated with the master list which can be accessed by clicking on the following link: List of Approved Courses
(CE requirements to change after Dec 31, 2016)
The New Mexico Real Estate Commission issues two types of real estate broker’s licenses: (1) an Associate Broker’s license; and, (2) a Qualifying Broker’s license. Both types of licenses are issued to individuals. There is no corporate real estate broker’s license in New Mexico.
An Associate Broker may:
- Hold only one associate broker’s license,
- Be affiliated with one qualifying broker at a time; and,
- Not engage in any real estate activity for any other qualifying broker other than the qualifying broker with whom the associate broker is affiliated.
A Qualifying Broker may:
- Be the qualifying broker for multiple brokerages; and,
- May serve as qualifying broker and associate broker for different brokerages simultaneously provided that there are written agreements executed specifying the responsibilities and scope of authority that the broker has for each brokerage.
The requirements for obtaining both types of licenses are described below.
Associate Broker's License
Pre-licensing Education Requirements
Licensing candidates will have to submit documentation of having completed three 30-hour pre-licensing courses in Real Estate Principles and Practice, Real Estate Law, and Broker Basics, 90 cumulative pre-licensing hours, not longer than three years prior to making application to take the broker's examination. This documentation is submitted when applying for the examination.The Candidate Information Bulletin contains both examination and license instructions. The following is a list of Instructors approved to teach Prelicensing Courses: Instructor List for Various Required Courses
Pre-licensing Education Waiver and Requirements for Those Licensed in Another State
With the exception of those licensed in Georgia, Louisiana, and Massachusetts, exam candidates currently licensed as real estate salespersons or brokers in other states or jurisdictions may be exempted from completing 60 of the 90 pre-licensure courses, namely, Real Estate Principles and Practice; and, Real Estate Law courses in New Mexico if they can provide a certified license history from their resident licensing jurisdiction documenting that they have completed these courses, or their equivalents.
That exemption is granted by the New Mexico Real Estate Commission Rules by a waiver of 60 of the 90 hours of course work normally required.
- Candidates who wished to be considered for this waiver must first request a waiver by email or letter.
- If a waiver is granted after review of the licensure history, the candidate will still have to submit proof of completion of the 30 hour Broker Basics course. The following is a list of Instructors approved to teach Broker Basics: Instructor List for Various Required Courses
- Also see the following fact sheet: Prelicensing Waiver Fact Sheet
License Recognition (Reciprocity) Exemptions and Provisions
License applicants currently licensed by state or jurisdiction with which the Commission has a written license recognition agreement, namely, Massachusetts, Georgia, and Louisiana, 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. However, they must apply for licensure using the attached license application package: License Recognition Application and Information
Real Estate Brokers' Examination Application
Prior to applying for an associate broker’s license, an applicant must pass the real estate broker’s examination prescribed by the Commission.
Applications to take the broker’s examination are made directly to PSI, the Commission’s examination contractor, on the examination application included in the PSI Candidate Information Bulletin. Along with the examination application form, all examination candidates, with the exception of candidates applying under the License Recognition program, or candidates who have received pre-licensing education waivers as described below, must submit documentation of having completed three 30-hour pre-licensing courses in Real Estate Principles and Practice, Real Estate Law, and Broker Basics, 90 cumulative prelicensing hours, not longer than three years prior to making application to take the broker's examination.
Except in the case of a license applicant from a state or jurisdiction with which the New Mexico Real Estate Commission has a written license recognition agreement (Massachusetts, Georgia, and Louisiana), an exam applicant cannot be exempted from completing the Commission-approved 30-hour Broker Basics course. An outline of that course is available at the following link: Broker Basics Outline
Exam applicants exempted from taking the Real Estate Principles and Practice and Real Estate Law courses by virtue of having a current real estate broker’s license in another state shall attach to their examination application a letter of pre-licensing education waiver from the Commission and a certificate of completion of the 30-hour Broker Basics course.
Application Fee: At the time of making application to take the examination, applicants shall pay to the Commission’s examination contractor a non-refundable examination fee not to exceed $95.
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.
Making Application for the License
After Passing the Examination: Upon passing both portions of the New Mexico real estate broker’s examination, an individual has six months to apply for an associate broker’s license on the application form prescribed by the Commission.
License Application Deadline: An individual who fails to apply for an associate broker’s license within six months of having passed both portions of the broker’s examination shall be required to re-take both portions of the examination, unless he/she provides in writing to the Commission a reasonable explanation for why he/she was unable to meet the six-month deadline.
Residency Requirement: 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.
Other License Application Requirements and Fees: Along with the license application form prescribed by the Commission the applicant must submit:
- Non-refundable $270 application fee in the form of check, money order or credit card authorization; cash is NOT accepted.
- Written score report provided by PSI documenting that they have passed both portions of the examination with a minimum score of 75;
- Documentation of Education: certificates of completion for pre-licensing coursework and/or pre licensing course waiver letter;
- Completed Fingerprint Certification Form documenting that they have submitted two fingerprint cards to the New Mexico Department of Public Safety for matching with a national arrest record database;
- Certificate of insurance documenting that they have a current errors and omissions insurance policy that meets the requirements for such policies as described in Part 5 of the Commission Rules.
- Once licensed, the new licensee is required to complete a 30 hour New Broker Business Practices course within 1 year after the license is issued. While the course is 30 hours, only 10 of those hours can be used for Continuing Education requirements. Click the following link to see a list of approved instructors for the New Broker Business Practices course. Instructor List for Various Required Courses
PSI Examination Services administers the broker’s examination under contract with the Commission. Applications for either examination are made directly to PSI. The links below provide all the information that examination candidates need to qualify and register.
Candidate Information Bulletin
Click here for License and Renewal Application Checklists.
Qualifying Broker’s License
There is no separate qualifying broker’s examination.
Associate Broker Tenure: Prior to being issued a qualifying broker’s license, an applicant must document that their associate broker’s or equivalent license has been on active status with a real estate brokerage for two of the last five years immediately preceding their application to become a qualifying broker, and must provide a certificate of completion of the Commission-approved 30-hour Brokerage Office Administration course. Applicants with current license who can document that they were New Mexico qualifying brokers on or before December 31, 2005 are not subject to these requirements, and may regain qualifying broker status by filing a trade name registration form and paying the trade name registration fee to the Commission. Click the following link for a list of Instructors approved to teach Brokerage Office Administration. Instructor List for Various Required Courses
Sales Person Grandfathering: Brokers who were salespersons on January 1, 2006 when the license law was amended to eliminate the salesperson category and were converted to associate broker status, shall in addition to meeting the requirements in the preceding section, document that they have met the requirements for and passed the associate broker’s examination prior to being issued a qualifying broker’s license.
Application for a New Mexico qualifying broker’s license shall be made on the license application form in the PSI Candidate Information Bulletin and shall include:
- Non-refundable application fee not to exceed $270. Individuals with a New Mexico real estate associate broker's license may upgrade to a qualifying broker's license at no additional cost.
- Completed Fingerprint Certification Form documenting that the applicant has submitted two fingerprint cards to the New Mexico Department of Public Safety for matching with a national arrest record database.
- Certificate of insurance documenting that they have a current errors and omissions insurance policy that meets the requirements for such policies as described in Part 5 of the Commission Rules.
Completed license applications shall be submitted to:
New Mexico Regulation and Licensing Department
New Mexico Real Estate Commission
5500 San Antonio Dr., NE Suite B - Albuquerque, New Mexico 87109
(505) 222-9820 - Fax (505) 222-9886 - Toll Free (800) 801-7505
Since November 5, 2013, the New Mexico Department of Public Safety (DPS) converted to an electronic Live 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 www.cogentid.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 www.cogentid.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.
Continuing Education Requirements
30 hour CE Requirement: In accordance with Real Estate Commission Rules, all active and inactive associate brokers and qualifying brokers shall successfully complete thirty (30) credit hours of continuing education in courses approved by the commission during each 3-year licensing cycle. Click here for an Approved Course List After January 1, 2017, that Continuing Education Requirement becomes 36 hours.
On Line Courses: Some of the approved schools and sponsors have on-line offerings. The following is a link to a Course List. However, you will have to check with the individual schools to see which of these potential offerings they actually offer.
65 Years by 2011 Exemption: The only exception to this requirement are brokers exempted from continuing education by virtue of being sixty-five (65) years of age with twenty (20) years continuous licensure prior to July 1, 2011.
Qualifying Broker Refresher 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. Click on the link to see a list of Approved Instructors for the Qualifying Broker Refresher Course. Instructor List for Various Required Courses
Composition of 30 CE Hours: The thirty (30) continuing education hours must include the eight (8) credit hour real estate commission mandatory course during each licensing cycle. Of the remaining twenty-two (22) credit hours, ten (10) credit hours may be credited toward the continuing education requirement from approved training category courses. At least twelve (12) credit hours must be taken from approved education category courses; however, all twenty-two (22) credit hours may be taken from the list of commission-approved education category courses.
AFTER JANUARY 1, 2017 THE REQUIREMENTS CHANGE TO THE FOLLOWING:
- 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.
- The commission approved thirty (30) hour New Broker Business Practices course may count for up to ten (10) credit hours toward continuing education. See Course Outline: New Broker Business Practices
- 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.
- 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.
- During each cycle licensees must take the commission approved 8 hour Mandatory Course. See Course Outline: Mandatory Course.
Approved Courses and Schools/Sponsors Links
- Approved Course List
- Course Numbering System Description
- Approved Schools/Sponsors
- Approved Instructor with Courses They Teach
- Various Required Courses & Their Approved Instructors (Includes Prelicensing and Continuing Education Courses)
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 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 Steering Committee (ESC). 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, 22.214.171.124 - 126.96.36.199] 2014-2015 Edition New Mexico Real Estate License Law and Real Estate Commission Rules reprinted from Michie’s Annotated Statutes of New Mexico.
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 ESC. 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 ESC meets each month on the third Wednesday of the month. Click on the following for a meeting schedule: 2016 Meeting Schedule (scroll down) and previous minutes can be found by clicking Minutes (scroll down). Prospective Instructors, sponsors and schools can access the ESC review and recommendation process by clicking the following: ESC 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 4 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 Course Application
- Instructor Application
- Instructor Application Supplemental Documents
- Distance Education Course and Instructor Application
- ESC 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
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.
For education-related questions, e-mail Thomas Baca, Education Administrator at Thomas.Baca@state.nm.us