Real Estate Appraisers: Overview

Board of Real Estate Appraisers

Application Process/Requirements

Please Click on Below Licensure to View Flow Charts

• Certified General

• Certified Residential

• Licensed Appraiser

• Licensed Trainee

• Reciprocity License

• Temporary Practice Permit

• Appraisal Management Company

2017 RENEWAL INFORMATION

In efforts to go paperless, the New Mexico Real Estate Appraisers Board will send e-mail renewal reminders in lieu of mailing post cards.  Please contact the Board Office to assure your correct e-mail address is on file.

RENEWAL REQUIREMENTS:

• License renewals must be submitted and complete BEFORE the expiration of April 30, 2017.
• Complete twenty-eight (28) hours of Continuing Education before your license expiration date.  A maximum of fourteen (14) hours of the twenty-eight (28) hours may be completed online.
• Completion of a seven (7) hour USPAP course as part of the twenty-eight (28) hours of Continuing Education before your license expiration date.
• Successful completion of the Jurisprudence Examination with a passing score of 70% or better.  This is an open-book examination based on the Board’s current Rules.  This examination replaced the requirement for the four (4) hour Board Approved Mandatory Renewal Update Course.  A $95.00 Administrative Fee will be added to your Renewal Fee for the examination.  The examination is available by clicking on:  http://www.rld.state.nm.us/boards/Real_Estate_Appraisers_Exams_and_Education_Schedule.aspx
• Please e-mail your completed Jurisprudence Examination to: nm.reab@state.nm.us.
• A printable booklet of the Rules and Statutes is available by clicking on:  http://www.rld.state.nm.us/boards/Real_Estate_Appraisers_Rules_and_Laws.aspx.
• Your license will be renewed and mailed once the Board Office determines that your application is complete and you satisfy all the renewal requirements, including successful completion of the Jurisprudence Examination.

If you took the Mandatory Renewal Course between May 1, 2015, through May 12, 2016, you may use it in lieu of the Jurisprudence Examination.  If you choose do so, you will be required to complete a paper renewal and mail it with the appropriate Renewal Fee and copy of your certificate to:  NM Board of Real Estate Appraisers, P.O. Box 25101, Santa Fe, NM  87504.  The paper renewal is available by clicking on:  http://www.rld.state.nm.us/boards/Real_Estate_Appraisers_Forms_and_Applications.aspx.  This will be the last renewal period that the Mandatory Renewal Course will be accepted.

IF you were selected for AUDIT pursuant to 16.62.7.10 (C) NMAC, please e-mail your CE certificates as proof of completion to: nm.reab@state.nm.us and list your license number in the subject line.  This must be completed before your renewal will be processed.

NON-TAXABLE TRANSACTION CERTIFICATES

(NTTCs)

IMPORTANT INFORMATION

Section 47-14-18(F) of the New Mexico AMC Registration Act requires AMC’s to provide Type 5 NTTC’s to New Mexico licensed appraisers who perform appraisal services for AMC’s who will subsequently resell the appraiser services to lenders.

In order to execute NTTC’s to appraisers an AMC’s must register with the New Mexico Taxation and Revenue Department and obtain a Combined Reporting System (CRS) identification number for tax reporting purposes.  Registration may be done on-line at the Taxation and Revenue Department website at http://tap.state.nm.us/NM_xwTapCrs.aspx.            

The AMC’s must meet the statutory requirements set out in Section 7-9-48, NMSA 1978. Receipts from selling a service for resale may be deducted from gross receipts or from governmental gross receipts if the sale is made to a person who delivers a nontaxable transaction certificate to the seller. The buyer delivering the nontaxable transaction certificate must resell the service in the ordinary course of business and the resale must be subject to the gross receipts tax or governmental gross receipts tax.

If you have questions regarding New Mexico gross receipts tax, or if you need further information about applying for a CRS identification number, please contact the Taxation and Revenue Department directly, at 505-827-0951 or at http://www.tax.newmexico.gov/SiteCollectionDocuments/2011crs-01kit-06.pdf.