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How to Get a Real Estate License Online in New Mexico (A Complete Guide)

Last updated on July 28, 2021

How to Get a Real Estate License Online in New Mexico

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Real estate is becoming increasingly popular across the country. 

It’s a great career choice for anyone looking for a substantial job or a side gig. 

However, wrapping your head around the licensing process can be a bit confusing, especially if you don’t get all the real estate jargon yet.

We’re here to clear things up.

In this article, we’re going to give you a complete guide on how to get a real estate license online in New Mexico. This will help you get started right away. 

So without further ado, let’s begin! 

Note: In Mexico, real estate agents are referred to as Associate Brokers, while real estate brokers are referred to as Qualifying Brokers.

Real Estate License Qualifications in New Mexico

There are only 3 real estate licensing qualifications in New Mexico. These are:

  • Be at least 18-years old
  • Hold a high-school diploma or GED
  • Be a US citizen or legal alien 

That’s it!  

Nothing more, nothing less.  

How to Get a Real Estate License Online in New Mexico

To obtain a New Mexico real estate license, you must complete all these steps: 

Step 1: Take a real estate pre-licensing course

Step 2: Register for the New Mexico real estate exam

Step 3: Pass the New Mexico real estate exam

Step 4: Submit your fingerprints for a background check

Step 5: Get a sponsoring qualifying broker and Errors and Omission insurance

Step 6: Submit a real estate license application to the New Mexico Real Estate Commission

Let’s talk about these steps one by one. 

Step 1: Take a real estate pre-licensing course

As with any job, you will first need to be educated on it. The same is true with real estate. 

So, in New Mexico, you’re required to study 90 hours of associate broker pre-licensing courses. These courses include:

  • 30 hours of Real Estate Principles and Practices
  • 30 hours of Real Estate Law
  • 30 Hours of Broker Basics

When you’re finished, you’ll have to pass the course’s final exam to receive your certificate of completion - this is proof that you completed the required 90 hours. 

We advise that you take your associate broker pre-licensing course online!

Kaplan Real Estate Education is an excellent online real estate school. 

While it is a bit pricey, costing around $800, this course is one of the most comprehensive online options around. They have hybrid course options that integrate online video lectures and live classroom lectures to give you the best learning experience.

Step 2: Register for the New Mexico real estate exam

Once you complete your education, the next step is to register for the New Mexico real estate exam conducted by the PSI.

To be eligible for the exam, fill out the form in the PSI handbook (page 12-13), give all required documents (outlined in the form), and pay an exam fee of $95.

You can choose to mail the application form along with a cheque or through a credit card on PSI’s website. Alternatively, you could email the form to the following nmreapp@psionline.com. If you choose to mail the form the address is: 

PSI licensure: certification 3210

E Tropicana 

Las Vegas, NV 89121 

If approved, you’ll receive instructions for scheduling the New Mexico real estate exam. 

Step 3: Pass the New Mexico real estate exam

The exam consists of two sections: a state portion and a national portion. 

In total, you’ll be answering 130 questions - 80 for the state and 50 for the national. You are given 120 minutes (2hrs) for the state and 60 minutes (1hr) for the national. 

To pass, you need to get at least 60 correct for the state and 38 correct for the national. 

What if you fail?

No worries. 

If you fail one portion, you only need to retake that. However, you will need to pay the $95 exam fee again. 

Note: if you fail to pass both portions within 90 days of the exam, you will need to retake them both. And, you will also need to register for the exam again.

Step 4: Submit your fingerprints for a background check

The next thing to do is submit your fingerprints at a local designated center specified by the New Mexico Real Estate Commission. 

To register for fingerprinting, use the New Mexico Real Estate Commission identifier number, NM920263Z, on Gemalto. The fingerprint processing fee, around $44, can also be paid through the website.

After you’ve registered, visit a local scanning center to give your fingerprint copies. You must also take the fingerprint application form found on page 19 of the PSI handbook

Step 5: Get a sponsoring qualifying sponsoring broker and Errors and Omissions insurance

After that, you need to find a sponsoring qualifying broker and get and Errors and Omissions insurance. 

When looking for a qualifying broker, it’s important to choose one that will suit your needs and preferences. Not only that, but it’s also important to find one that is reputable. 

Remember to never rush this process as you won’t want to work with a Qualifying Broker that you don’t work well with. 

The same goes for your Errors and Omissions insurance.

Step 6: Submit a real estate license application to the New Mexico Real Estate Commission

Finally, you can apply for a New Mexico real estate license. 

To do that, fill out the application form on pages 15-18 of the PSI handbook. In the form, you will find all requirements, fees, what documents to send, where to send them, and all that. 

Note: you have to complete this application process within 1 year of passing the New Mexico real estate exam, so you shouldn’t delay the process more than you have to.

Real Estate Licensing in New Mexico FAQs

How long is the pre-licensing course in New Mexico?

In New Mexico, the pre-licensing course is 90 hours long. These include:

  • 30 hours of Real Estate Principles and Practices
  • 30 hours of Real Estate Law
  • 30 Hours of Broker Basics

When do I need to take continuing education courses in New Mexico?

In New Mexico, you’ll have to take 36 hours of CE courses within three years in order to renew your license. 

You can find excellent CE courses with McKissock

How to Get a Real Estate License Online in New Mexico (A Complete Guide) McKissock

This online real estate school provides a premium CE plus package that includes not only all the CE courses in the state, but also extra webinars, training guides, and support to take your real estate career to the next level.


How much do real estate courses cost in New Mexico?

The cost of real estate courses will depend on the school. 

In-person courses are typically more expensive with prices at or above $1000. While online courses are cheaper on average with prices starting above $600.

Conclusion

As you can see, it isn’t that complicated to obtain a real estate license in New Mexico. 

Sure, it takes time, dedication, and even investment. But once you’re done with that, you get to enjoy the benefits of working as a real estate Associate Broker. 

So what are you waiting for?

Sign up for an online real estate pre-licensing course today to get one step closer to a new and exciting career!

Good luck!

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