How to Get a Broker License in New Mexico

Obtaining a New Mexico Real Estate Broker License is crucial if you’re looking to advance your real estate career. Despite the streamlined online application process, many aspiring real estate brokers find the requirements and procedures complex and challenging.

This How to Get a Broker License in New Mexico article will guide you through each step of the process, ensuring you have a clear understanding of what it takes to achieve this license and elevate your real estate career as quickly as possible.

New Mexico Real Estate Broker License

In order to get your New Mexico real estate broker license and take your career to the next level, there are several key steps you’ll need to complete, including:

1. Ensuring You Meet the Eligibility and Experience Requirements
2. Completing the Mandatory Pre-Licensing Education
3. Passing the New Mexico Broker Licensing Exam
4. Passing the Background Check
5. Submitting a License Application

In the sections below, we’ve explored each of these steps in more detail.

Note: If you’re just starting out, you’ll need to check out our New Mexico Real Estate License guide instead.

Step 1: Meet the New Mexico Eligibility and Experience Requirements

Before proceeding with the application process for your New Mexico real estate broker license, you’ll need to first make sure that you meet the general prerequisites outlined in Title 16, Chapter 61, Part 3 of the New Mexico Administrative Code:

• You must be at least 18 years of age
• You must be a legal resident of the United States
• You must have been actively engaged in the real estate business as an associate broker for at least two of the last five years
• If you currently hold or have previously held a license in another state, you will need to submit a certified license history

Please note that a history of certain serious offenses may disqualify you from receiving a New Mexico real estate license. You can find more details on this by referring to the list of disqualifying convictions published by the New Mexico Real Estate Commission.

Note: New Mexico maintains a written license recognition agreement (reciprocity) with Massachusetts, Louisiana, and Georgia. If you’re already qualified in any of these states, you’re encouraged to contact scott.latham1@rld.nm.gov for further information.

Step 2: Complete the Mandatory Pre-Licensing Education

Beyond the general requirements mentioned earlier, you must also fulfill specific educational prerequisites to be able to apply for a New Mexico real estate broker license.

In particular, this will involve completing a commission approved 30 hour Broker Basics course — covering topics such as real estate laws, brokerage management, and professional ethics — is designed to equip you with the advanced skills necessary to effectively operate as a qualifying broker.

Once that is completed, you will receive a Certificate of Completion, which you’ll need in order to apply for authorization to take the qualifying broker’s examination with the state licensing vendor, PSI.

To do this, you will need to submit the Eligibility/Examination Registration Form — available at the end of the Candidate Information Bulletin — to PSI at the following address:

PSI
450 N Stephanie St.
Suite 200 Henderson
NV 89014

It will typically take PSI up to four business days to process your eligibility for this exam, after which you’ll be notified via email of your approval status. If there are any issues or additional documents required, PSI will contact you directly to inform you of what is needed to complete your registration.

Step 3: Pass the Broker Licensing Exam

In New Mexico, this three hour exam is administered by PSI and comprises 125 questions divided across two sections: a National portion and a State-Specific portion.

In order to schedule your real estate broker exam, you’ll need to make an online reservation using the PSI website. Note that you’ll need to create an account for this service if this is your first time using it, after which you’ll be shown step-by-step instructions on how to complete your reservation.

Keep in mind that you’ll be required to pay a $95 fee, which covers both portions of the exam; this fee applies regardless of whether you choose to take one portion or both portions together.

In order to pass, you’ll need to obtain a minimum score of 75% on both parts of the exam. If you fail one section, you’ll only have to retake this portion but will have 90 days to do so — failure to pass within this timeframe will result in you needing to retake both of the exam’s sections.

You’ll find out how you performed on this exam immediately after finishing and should receive your passing exam score sheet with a full breakdown a few days afterwards.

Note: Keep in mind that you should arrive at least 30 minutes before your appointment — if you arrive late, you may not be admitted to the examination site and will forfeit your registration fee.

Step 4: Pass the Background Check

As mandated by Real Estate Commission Act § 61-29-4.4, NMSA 1978, you’re required to have your fingerprints taken for a background check before you can submit your application.

This can be done through the state’s approved vendor, IdentoGO, by visiting the IdentoGO New Mexico website and scheduling your appointment.

To complete your fingerprinting, you will need to pay a $59 processing fee and include the New Mexico Real Estate Commission’s ORI # NM920263Z when registering.

After your fingerprints are processed, the results of the background check will be sent directly to the New Mexico Real Estate Commission.

Note: Keep in mind that your background check results will only remain valid for 30 days, so it’s important to coordinate this step closely with the submission of your license application to avoid having to redo this.

Step 5: Submit a License Application

After completing your pre-licensing education and ensuring that you satisfy all other licensing requirements, you’ll be ready to move on to submitting your license application.

This process can be completed online through the New Mexico Regulation and Licensing Online Portal. You’ll need to create an account, submit a Qualifying Broker License application, and attach the following documents:

• Original certified license history (if applicable)
• Certificate of completion for the Broker Prelicensing Course
• Original scores from the PSI National Broker Exam
• Original scores from the PSI New Mexico Broker Exam

Keep in mind that you will also need to pay a licensing fee of $270 in order for your application to be processed.

Note: To have your qualifying broker license issued as active, you will first have to obtain Errors and Omissions (E&O) insurance.

Step 6: Application Review

If you’ve managed to get this far, congratulations!

If your application is complete and all required documents are in order, you can expect the Commission to process and issue your licensing document within a few 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!

New Mexico Real Estate License Renewal

In order to keep your real estate broker license valid, you’ll need to renew it every three years. In New Mexico, this must be filed electronically through the Regulation and Licensing Department’s online licensing portal alongside a $270 renewal fee.

Keep in mind that you will need to complete 42 hours of continuing education every licensing period in order to be allowed to renew.

For specific details on these requirements, you can visit the Continuing Education section of the New Mexico Regulation and Licensing Department website.

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.

New Mexico Regulation & Licensing Department 

Mailing Address:
New Mexico Real Estate Commission
5500 San Antonio Dr. NE Suite B
Albuquerque, New Mexico 87109

Phone: (505) 476-4622

Email: RLDRealEstate.Comsn@rld.nm.gov

Website: https://www.rld.nm.gov/boards-and-commissions/individual-boards-and-commissions/real-estate-commission