Licensure Requirements for an Associate Broker
- Minimum age of 18
- Must be a legal U.S. resident
- Must complete 90 hours of pre-licensing education
- Pass both the national and state portions of the broker exam
- Fingerprinting
- Apply for license within 6 months of passing the exam
Licensure Requirements for a Qualifying Broker
- Minimum age of 18
- Must be a legal U.S. resident
- Must complete 120 hours of pre-licensing education (For alternative ways to satisfy the education requirement, refer to page 2 of the New Mexico Candidate Handbook)
- Must have been an active, licensed associate broker for at least 2 of the previous 5 years
- Pass both the national and state portions of the broker exam
- Fingerprinting
- Apply for license within 6 months of passing the exam
Step by Step Guide (Associate Broker)
- Complete 90 hours of pre-licensing education (You can download a list of approved schools and courses from the New Mexico Real Estate Commission website)
- Real Estate Principles and Practice- 30 hours
- Real Estate Law- 30 hours
- Broker Basics- 30 hours
- Submit exam registration form, found on pages 11-12 of the New Mexico Candidate Handbook
- By email- allow 6 days before scheduling the exam
- By fax- allow 6 days before scheduling the exam
- By standard mail- allow 6 days before scheduling the exam
- Pass both the national and state portions of the broker exam (See below for more information)
- Complete Fingerprinting
- Apply for license within 6 months of passing the exam (Associate Broker application is found starting on page 13 of the New Mexico Candidate Handbook)
Step by Step Guide (Qualifying Broker)
- Complete 120 hours of pre-licensing education (You can download a list of approved schools and courses from the New Mexico Real Estate Commission website)
- Real Estate Principles and Practice- 30 hours
- Real Estate Law- 30 hours
- Broker Basics- 30 hours
- Brokerage Office Administration- 30 hours
- Submit exam registration form, found on pages 11-12 of the New Mexico Candidate Handbook
- By email- allow 6 days before scheduling the exam
- By fax- allow 6 days before scheduling the exam
- By standard mail- allow 6 days before scheduling the exam
- Pass both the national and state portions of the broker exam (See below for more information)
- Complete Fingerprinting
- Apply for license within 6 months of passing the exam (Qualifying Broker application is found starting on page 21 of the New Mexico Candidate Handbook)
Exam Info
The exam costs $95 and is administered on a computer in multiple choice format. In addition to standard multiple choice, there will be scenario-based questions with more than 4 possible answers to choose from. The national portion consists of 75 scored questions and 5-10 pre-test questions that do not affect your score. The state law portion consists of 50 scored questions and 5-10 pre-test questions that do not affect your score.
There is no distinction made between scored questions and pre-test questions on the exam. They are all mixed in together, so it is important that you answer each question carefully. You must achieve a score of at least 75% on both national and state law to pass.
You will have 2 hours to complete the national portion and 1 hour to complete the state law portion. Once you take the first exam, you have 90 days to pass both portions.
- Schedule online at http://www.psiexams.com/ or by calling (855) 557-0621
- For exam locations, refer to page 3 of the New Mexico Candidate Handbook
Fees:
- Exam Fee- $95
- License Fee (Associate Broker)- $270
- License Fee (Qualifying Broker)- $270 for Out-of-State applicants, NO FEE for a New Mexico license upgrade
- Fingerprinting- $44