How do I apply for my New Mexico real estate broker license?
New Mexico uses a paper application process. You can find the license application form in the Candidate Information Bulletin or the Applications and Forms section of the NMREC website. You will need to print it out. Include with your application your state licensing exam score report, fingerprint documentation, insurance policy coverage certificate, license application fee, and any supporting documents related to Section D. If you're applying for an active license, you are a supervisory qualifying broker and must fill out a section on the application.
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Before you apply for your license: ● Be at least 18 years of age ● Take 90 hours of pre-licensing education ● Pass the state licensing exam ● Submit fingerprints for a background check ● Purchase E & O insurance
New Mexico uses a paper application process. Find the license application form in the Candidate Information Bulletin. Include your state licensing exam score report, fingerprint documentation, insurance policy coverage certificate, license application fee, and supporting documents related to Section D.
No, New Mexico does not have an online application portal for real estate licensing. You will need to print out the license application from the back of the Candidate Information Bulletin.
Submit with your associate broker license application ●The licensing exam score report showing you passed both sections ●Fingerprint certification documentation ●Certificate of E&O insurance policy coverage ●The non-refundable license application fee of $270 ●Any supporting documents to answers as detailed in Section D
You should turn in your license application within six months of passing the licensing exam, as soon as you have submitted your fingerprints for a background check, secured E & O insurance, and gathered all of your supporting required documentation.
New Mexico will issue you a real estate associate broker license if you have not been hired by a supervisory qualifying broker. However, it will be an inactive license, and you will be unable to practice real estate activities.
If you have an inactive license, you cannot engage in any real estate brokerage activities. An active license means you can work as a real estate agent, perform real estate brokerage activities, and be compensated for work as a real estate professional.
If you are currently licensed, you need to request to be placed on inactive status by returning your license to the qualifying broker in charge. Your qualifying broker will return the license to the real estate commission and it will be inactivated.
For the New Mexico Real Estate Commission to issue you an active broker license, you must have been hired by a supervisory qualifying broker. This individual must fill out the section on your broker license application designated for their information.
If you decide to inactivate your license, you need to request a change of status with your qualifying broker. Your broker-in-charge will return your license to the New Mexico Real Estate Commission. The NMREC will inactivate your license and hold on to it.
Both types of licenses enable you to work in the business of real estate. You will be able to assist clients with the purchase, sale, lease, or management of real property. However, a qualifying broker license enables you to run your own business and hire employees to work under your supervision.
Receive enrollment information about the group plan from the NMREC offices or from Rice Insurance Services by calling 800.637.7319. Also, your hiring brokerage may also have a group insurance policy. Ask the qualifying broker about their policy and if you are covered under it.