New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 3 - REAL ESTATE BROKER'S LICENSE: EXAMINATION AND LICENSING APPLICATION REQUIREMENTS › Section 16.61.3.9 - EXAMINATION AND LICENSING REQUIREMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A. Associate broker's license: prior to
				applying for an associate broker's license, an applicant must pass both a
				national broker examination prescribed by the commission, and the New Mexico
				real estate broker's examination prescribed by the commission.
B. Examination application.
(1) Applications to take the prescribed
				broker's examination(s) are made directly to the commission's examination
				contractor on a form prescribed by the commission and provided by the
				contractor in a candidate information bulletin. Along with the application
				form, an applicant must submit certificates of completion of
				commission-approved 30-hour pre-licensing courses in real estate principles and
				practice, real estate law, and broker basics. These pre-licensing courses must
				have been completed within the three years prior to application to take the
				examinations. Exam candidates who are licensed as associate brokers and are
				taking the broker's examination to upgrade to qualifying broker are exempt from
				the three-year time limit and must only provide documentation of course
				completion.
(2) Exam candidates
				originally licensed as real estate salespersons or brokers or licensees in
				other states or jurisdictions may apply for waivers from completing the real
				estate principles and practice and real estate law courses in New Mexico and
				from taking the national portion of the broker's examination if they can
				provide a certified license history from their resident licensing jurisdiction
				documenting that they have completed these courses or their equivalent. A New
				Mexico associate broker upgrading to qualifying broker will be exempt from
				taking the national portion of the broker's exam.
(3) Except in a case of a license applicant
				from a state or jurisdiction with which the New Mexico real estate commission
				has a written license recognition agreement, an exam applicant cannot be
				exempted from completing the commission-approved 30-hour broker basics
				course.
(4) License applicants
				currently licensed by state or jurisdiction with which the commission has a
				written license recognition agreement 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.
(5) 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.
(6) All other applicants for the examination
				shall attach to their license examination application certificates documenting
				completion of one 30-hour pre-licensing course each in real estate principles
				and practice, real estate law, and broker basics.
(7) At the time of making application to take
				the examination, applicants shall pay to the commission's examination
				contractor a non-refundable fee not to exceed $95.
(8) 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.