In this guide you’ll learn all the details you need to know to get your license and become a real estate agent in New Mexico.
You’ll learn the basic real estate licensing requirements in New Mexico, information about the exam including pass rates and test prep, reciprocity rules, county by county breakdowns of the most expensive real estate in New Mexico, and more.
Okay, grab a cup of coffee, and let’s start at the beginning.
Basic New Mexico Real Estate Licensing Requirements
Getting a real estate license in New Mexico is rather easy compared to other states. You only need a total of 90 classroom hours of commission-approved pre-licensing courses. In comparison, to get a license in Texas, real estate licenses require applicants to complete 180 hours of courses. Here’s a quick breakdown of the real estate licensing requirements in New Mexico:
Pre-licensing Courses Required in New Mexico
In order to get a real estate license in New Mexico, you will need to complete 90 hours of real estate pre-licensing courses that will cover:
- Property ownership
- Land use controls and regulations
- Valuation and market analysis
- General principles of agency
- Mandated disclosure
- Transfer of title
- Practice of real estate
- Real estate calculations
- Specialty areas
- Real Estate Commission
- Licensing Requirements
- Real Estate Commission Regulations
- Broker Duties, Disclosure, and Brokerage Relationships
- New Mexico Property Taxes
- New Mexico Mechanic’s Liens
- Community Property
- Stigmatized Property
- Government Survey System
- Septic systems
- Water rights issues (well and surface rights)
- New Mexico Human Rights Act
New Mexico Real Estate Exam Information
If you work hard and take the courses seriously you should have no problem passing the exam. If you’re looking for help studying for the test, we recommend Real Estate Exam Scholar’s Exam prep course. They offer top-notch exam prep for an affordable price. Even better, they also offer a money back guarantee if you don’t pass on the first try.
New Mexico Pre-licensing Exam Questions
- Total of 130 multiple-choice questions (to be completed within 3 hours)
- 80 questions on the national portion (60 correct required to pass)
- 50 questions on the state portion (38 correct required to pass)
What to Bring to the Exam
- 2 valid forms of identification with signatures. One ID must be a government-issued Photo ID; basic calculator
- Confirmation number when the test reservation was made.
You must earn a score of 75 to pass the New Mexico Real Estate Broker Exam
New Mexico Real Estate License Fee
Exam Fee in New Mexico
You need to have at least a high school diploma or GED in order to apply for a license in New Mexico.
Applicants must be at least 18 of age or older
Any U.S. citizen or a lawfully admitted alien can apply.
Any active member of the New Mexico Bar who is in good standing and qualified under the real estate license law is exempt from taking the real estate sales associate prerequisite course.
Applicants who have an existing criminal record may still apply for a real estate license. It would be best if applicants were to include their criminal history along with the necessary documents related to the conviction, if any, on their application. After submitting your fingerprints, your application will be forwarded to the Division of Criminal Justice Information Systems and to the Federal Bureau of Investigation. Upon investigation, each applicant will be considered on their own merits.
Online Real Estate Schools in New Mexico
While taking your real estate pre-licensing course in person can be helpful, online courses are much cheaper and offer the exact same courses. Brightwood Real Estate Education, powered by Kaplan, is a solid choice.
New Mexico Real Estate License Reciprocity and Portability
If you plan on working in states besides New Mexico, then you need to know the real estate license reciprocity and portability laws for New Mexico.
- Reciprocity: New Mexico doesn’t have mutual recognition agreements with any state
- Portability: Turf State
To learn more about real estate license portability in New Mexico, check out our guide on real estate license reciprocity and portability here.
How to Choose the Right Real Estate Company to Work For in New Mexico
Let’s face it. Choosing the right brokerage to work for in any state isn’t easy. In order to make your choice a little bit easier, check out our in-depth guide on choosing the right real estate company to work for.
If you’re curious about which New Mexico brokerages are the most successful, check out Real Trends list of the top real estate brokerages in New Mexico for 2017 below.
|Real Estate Brokerage||Sales Volume (2016)|
|Coldwell Banker Legacy||$1,536,574,745|
|Keller Williams Realty, GO Management Offices||$1,280,193,827|
|Berkshire Hathaway HomeServices New Mexico Properties||$291,688,809|
*Data from Real Trends Market Leaders 2017
New Mexico Counties with Highest Average Listing Price and Highest Median Sales Price 2017
Let’s face it, higher listing prices mean higher commission checks! To get a sense of which counties offer the best opportunities for big bucks in New Mexico check out this sales data from Trulia’s New Mexico home price page below (week ending June 21):