New Mexico

The New Mexico Real Estate Commission is part of the Regulation and Licensing Department at 2550 Cerrillos Road, Santa Fe, NM 87505, with offices in Albuquerque and Las Cruces. Phone (505) 476-4500. Website rld.nm.gov. Email [email protected] for waivers and [email protected] for GA/LA/MA reciprocity. The governing law is NMSA 1978 Chapter 61 and NMAC 16.61. PSI delivers the exam under the New Mexico Real Estate Candidate Information Bulletin (test-takers.psiexams.com/nmre, bulletin 998). The Commission's Apply for License and FAQ pages set the hour requirements: two types of broker licenses, associate broker and qualifying broker, issued only to individuals, and 90 prelicensure hours as 30 Principles and Practice + 30 Law + 30 Broker Basics. A Texas sales-agent certificate does not satisfy those 90 hours.

The PSI exam has 75 national items worth 80 points in 120 minutes (you need 60 of 80) and 50 New Mexico items in 60 minutes (you need 38 of 50), each at 75%, for $95 covering one or both portions. You must pass both within 90 days of your first pass and apply online within six months. Fingerprints go through IdentoGO (the NMREC PDF lists $59; check the current price). E&O is mandatory for active status. The original application fee is not to exceed $270. In your first year, you take New Broker Business Practices or CCIM 101, and each three-year cycle requires 36 hours of CE, including an annual 4-hour Core.

Qualifying broker requires 2 of the last 60 months (nonsupervisory) or 4 of the last 60 (supervisory), a 100-point transactional log, 30-hour Brokerage Office Administration with an in-class exam, 8-hour NMAR/RANM forms, 8 core-elective hours, a Commission meeting, fresh fingerprints, and returning your associate-broker wall license with the application. Reciprocity that skips prelicensing and both exam portions is broker-to-broker with Georgia, Louisiana, and Massachusetts only. Neighboring states differ: Colorado requires 168 hours, Arizona's salesperson license 90, and Utah's sales-agent license 120. What sets New Mexico apart is that there is no salesperson title, Broker Basics is never waived, and water rights, septic, PID, and New Mexico brokerage relationships are scored exam items.