Here is a potential timeline for how long it could take to obtain your New Mexico real estate broker license:
Step 1: Complete the required 90-hour New Mexico Pre-License course.
- Most students choose to take the course online because it can be faster and more flexible than an in-person class.
- This step can take from 2-6 weeks, depending on how quickly you move through an online course.
Step 2: Apply to take the state licensing exam
- Apply to take the broker’s examination to the state examination contractor, PSI using the examination registration form in the Candidate Information Bulletin.
- It can take PSI 5-10 business days to approve your eligibility and send you a registration postcard.
- This step can take 2-4 weeks.
Step 3: Schedule your broker licensing exam.
- You can schedule your exam through http://www.psiexams.com or by calling (855) 557-0621.
- This step can take anywhere from 1-3 weeks, depending on availability at the testing centers.
Step 4: Submit fingerprints for a background check
- Once you pass the exam, schedule your fingerprints and background check.
- You must first register on the state vendor website Gemalto or by phone at 1-877-996-6277.
- Scheduling your fingerprints could take 1-3 weeks depending on appointment availability.
Step 5: Obtain E&O insurance
- New Mexico requires real estate brokers to have a current E&O policy before approval for an active license. The New Mexico Real Estate Commission offers a Group E&O Program.
- Your insurance coverage begins when you pay your premium.
Step 6: Apply for your license.
- You can submit the application as soon as you have passed the state exam, E & O insurance, and started the background check.
- The NMREC does not provide an application process time estimate. It often depends on when the state receives your background check. Expect somewhere between 2-4 weeks if all your documentation is together.
Total Time: 12-24 weeks
It's possible to have your real estate license within three months. How quickly you earn the license will depend on how long it takes you in completing all the steps, like your pre-license course, passing the exam, submitting fingerprints, obtaining insurance, and applying for the license.