New Mexico Real Estate Broker License
Requirements, fees, and steps to upgrade to broker
Experience Requirements
Qualifying broker applicants must have 2 years of active licensure within the last 60 months (non-supervisory) or 4 years (supervisory).
Alternative Pathways:
- CCIM 101 course may substitute for the post-licensing requirement
Must document qualifying transaction experience totaling 100 points in each of the years preceding the application, as verified by a qualifying broker.
Education Requirements
Complete 90 hours of associate broker prelicensing education plus the 30-hour Brokerage Office Administration course for the qualifying broker license.
Required Courses:
- 90 hours prelicensing education (30 hours Real Estate Principles and Practice, 30 hours Real Estate Law, 30 hours Broker Basics)
- 30-hour Brokerage Office Administration course (for qualifying broker)
Associate brokers must complete a 30-hour post-licensing New Broker Business Practices course within the first year of licensure.
Broker Examination
Exam Name
New Mexico Broker Examination
Provider
PSI
Format
National: 75 questions (80 points), 120 minutes; State: 50 questions, 60 minutes; plus 5-10 unscored questions
Passing Score
National 60 of 80 points; State 38 of 50 correct
Exam Fee
$95
Retake Policy
Both portions must be completed successfully within 90 days of first attempt.
Fees
| Application Fee | $270 |
| Examination Fee | $95 |
| Background Check | $59 |
| Recovery Fund | $30 |
| Listed Fees | $454 |
Listed state fees: application $270 + recovery fund $30 + exam $95 + fingerprinting $59 = $454. Required E&O insurance (about $349/term) is a separate third-party cost and is excluded.
Fingerprinting must be completed before submitting the license application. ORI number: NM920263Z.
Timeline
Complete Prelicensing Education
Complete 90 hours of associate broker prelicensing courses plus the 30-hour Brokerage Office Administration course
4-8 weeks
Pass Examination
Take and pass the national and state broker exam portions
1-2 weeks
Fingerprinting and Background Check
Complete fingerprinting through IdentoGO
1-2 weeks
Obtain E&O Insurance
Secure an active Errors and Omissions insurance policy
1 week
Submit License Application
Apply with fees, E&O proof, and background check completion
2-4 weeks
Gain Experience for Qualifying Broker
Complete 2-4 years as associate broker with 100 transaction points annually
2-4 years
License Renewal
Renewal Cycle
Every 3 years
Renewal Fee
$270
CE Hours Required
42 hours
Online Renewal
Available
Qualifying brokers require 42 hours per three-year cycle (the associate-broker 36-hour requirement plus a 6-hour QB refresher and additional core electives).
Reciprocity Agreements
New Mexico has no reciprocity agreements. Licensees from some states (e.g., GA, LA, MA) may qualify for education waivers only, not an exemption from the state exam. Contact the Commission.
New Mexico Real Estate Commission
- Official Website
- (505) 476-4622
- RLDRealEstate.Comsn@rld.nm.gov
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