In order to kickstart your real estate career in New Mexico, it’s essential to obtain a New Mexico Real Estate License. However, despite the fact that the application process is mainly completed online nowadays, many applicants can still find it quite confusing and complicated.
For this reason, this How to Get a Real Estate License in New Mexico article will break down the main steps involved in the licensing process, covering everything from educational requirements to exam preparation and having your fingerprints taken.
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In order to get your New Mexico real estate license and start working in the real estate industry, there are several key steps you’ll need to complete. These include:
In the sections below, we’ve explored each of these steps in more detail.
Before continuing ahead with your application for a New Mexico real estate license, you’ll first need to confirm that you’re actually eligible for it by ensuring you meet the following prerequisites:
Note: What is commonly referred to as a “salesperson” or “agent” license in other states is known as an associate broker license in New Mexico; even so, the roles function in the same manner.
In addition to the general requirements outlined above, there are certain educational prerequisites you’ll be expected to meet in order to be able to apply for a New Mexico real estate license.
In particular, you’ll be expected to complete 90 hours of pre-licensing education that has been approved by the New Mexico Real Estate Commission (NMREC). These 90 hours must be divided into three 30-hour pre-licensing courses that cover the following topics:
You can complete the pre-licensing courses in several formats — online, in-person, or through distance learning — but you must do so before you take your real estate licensing exam.
Even though completing the courses is mandatory, it would be a mistake to think of this step as just “checking a box”. This is because your pre-licensing education is what will prepare you to both pass your exam and become a better real estate agent.
For this reason, we always encourage our readers to invest in high-quality and reliable courses, as their study materials (like real estate practice tests and flashcards) can be invaluable during the exam prep stage.
On top of this, some of the top courses also offer money-back guarantees in the event that you do not pass your exam on your first attempt after taking their course.
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Interested in getting started? We recommend The CE Shop’s online pre licensing education packages due to their high-quality study resources, money-back-guarantee, and flexible pricing.
The CE Shop
Note: New Mexico maintains reciprocal agreements with Georgia, Louisiana, and Massachusetts. This means that if you currently hold a broker license from any of these states, you’ll be exempt from the pre-licensing education and both portions of the exam in New Mexico.
The next step you’ll need to complete is to pass the New Mexico real estate exam, which is administered by PSI. The exam consists of two parts:
You must achieve a minimum score of 75% in each section to pass. If you fail one portion of the exam, you’ll only need to register and retake the failed portion. Having said that, you must pass both the national and state-specific sections within 90 days of successfully completing one part or you’ll have to retake both sections of the exam.
In order to schedule your real estate exam, you’ll need to head over to the PSI website and make an online reservation. If this is your first time using the platform, you’ll be required to create an account, after which you’ll be shown step-by-step instructions on how to complete the reservation. Alternatively, you may also schedule your examination by calling PSI directly at (855) 557-0621.
When scheduling your exam, you’ll need to pay a $95 fee regardless of if you plan to take one or both sections.
Note: You have six months to apply for your broker’s license after passing the exam. If you fail to do so, you’ll have to retake the necessary sections unless you submit a reasonable explanation that the NMREC finds acceptable.
As part of the licensing process, you must undergo a fingerprint-based background check.
You can do this through the state’s designated vendor, IdentoGO, by visiting the IdentoGO New Mexico website and using the originating case identifier (ORI) number NM920263Z. You’ll also need to pay a $59 processing fee.
Once IdentoGO takes your fingerprints, it’ll send the results directly to the NMREC. Your results will remain valid for 30 days so make sure to time this step appropriately with your license application to avoid any delays.
Note: Under state law, certain criminal convictions prohibit you from obtaining a license. For a detailed list of these, you can refer to the New Mexico Administrative Code.
The final step before receiving your license is to obtain E&O insurance — also known as professional liability insurance. This coverage protects you from lawsuits alleging mistakes/negligence in your professional services.
You can obtain E&O insurance insurance in one of two ways:
Note: For detailed information on the state’s requirements for E&O insurance, please refer to the NMREC’s rule book.
After passing the state real estate exam and satisfying all other licensing requirements, you’ll be ready to move onto submitting your license application. You can do this through New Mexico’s NM-PLUS online licensing portal.
To submit your application, you must complete the following steps:
Keep in mind that you’ll need to pay a $270 licensing fee in order for the NMREC to process your application.
If you’ve managed to get this far, congratulations! With your application submitted and all the other licensing requirements satisfied, in most cases you should receive a letter from the NMREC containing a license document within five business days.
Be sure to take some time to celebrate your accomplishment. You’ve put in a lot of work and effort and deserve a celebration!
In order to keep your license valid and continue working as a real estate associate broker, you’ll need to renew your license every three years.
To do this, you must stay up to date with your continuing education (CE) requirements. These, include:
We always encourage our readers to think of the post licensing course they take as an investment in their future career — higher quality, more reliable course content is a central part of ensuring you continue to grow professionally.
When it’s time to renew your license, you’ll need to visit the New Mexico Regulation and Licensing Department’s Licensing Portal, submit your renewal application, and pay a $270 fee.
Recommended: Interested in getting started? We recommend The CE Shop’s online post licensing education packages due to their high-quality study resources, money-back-guarantee, and flexible pricing.
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Mailing Address:
5500 San Antonio Dr. NE Suite B
Albuquerque, NM 87109
Phone: (505) 476-4622
To become a licensed real estate agent in New Mexico, you must complete 90 hours of pre-licensing education, pass the real estate exam, undergo a background check, and obtain Errors and Omissions (E&O) insurance.
Candidates fulfill these requirements within two to four months, on average, depending on how swiftly they move through each phase.
To get a real estate license in New Mexico, you’ll have to pay $95 for the licensing exam, approximately $349 for E&O insurance, $270 for submitting your license application, and around $59 for fingerprinting.
Keep in mind that these costs don’t include the price of the required pre-licensing education courses, which vary depending on the provider.
The New Mexico real estate exam is generally considered challenging given its comprehensive coverage of both national real estate principles and state-specific regulations.
Interested in finding out more? Check out our state-specific How to Get a Real Estate License guide.
To obtain a real estate license in New Mexico, you must complete the required pre-licensing real estate education, pass the state licensing exam, undergo a background check, secure E&O insurance, and submit a license application to the New Mexico Real Estate Commission (NMREC).
For more information on real estate broker’s licenses, real estate professionals can see our How to Get a Real Estate License in New Mexico guide.
Yes. A real estate broker may be reported for a number of reasons, including unethical practices or non-compliance with state regulations.
In either case, potential and actual violations of real estate license law or real estate commission rules can be reported to the NMREC.
Information on this page was researched and gathered from a multitude of sources and was most recently updated on July 16, 2024
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