Understanding the requirements for your license renewal can be frustrating for many brokers. Below is a summary of requirements.
Let's begin with the two types of real estate licenses offered in New Mexico:
- Associate Broker License: a licensed real estate broker who works under the supervision of a Qualifying Broker in a Brokerage.
- Qualifying Broker License: a licensed real estate broker responsible for managing the day-to-day activities of a brokerage in addition to supervision of associate brokers.
Associate Broker Requirements in New Mexico
Associate Brokers are required to complete a minimum of 36 CE hours every three years to renew their license in New Mexico. Refer to the NMREC Approved Course List to ensure a class will fulfill a requirement.
1. Core Course or "NMCC"
4 CE is required every year for a total of 12 hours each 3-year cycle
Each broker should take either a 'Core A', 'Core B', or 'Core C' each year during their three-year licensing period. These courses do not have to be taken in any specific order.
2. Core Electives or "C"
Minimum of 4 CE each 3-year cycle
Core Electives CAN BE courses that are specific to your niche of real estate such as residential, commercial, or property management.
3. Ethics or "ETH" or "ETH/NAR"
4 CE once every 3-year cycle for NMREC
These courses cover ethics and are required to meet the NMREC licensing requirement.
4. 16 Additional CE Hours
These hours can be completed from both training and education course types. A maximum of 10 hours of Training or “T” CE hours can be applied towards an Associate Broker’s license renewal. Associate Brokers can also obtain up to 4 CE hours from attending commission meetings, rules hearings, education advisory committee meetings, or disciplinary hearings.
New Broker Requirement
The NMREC approved 30-hour course titled "New Broker Business Practices" is required within the first year of licensure for brokers first licensed in New Mexico. 10 hours of CE from this course may be applied towards the "16 Additional CE Hours" needed.
Property Management Requirements
Associate brokers intending to offer property management services for others under the approval and supervision of their Qualifying Broker must meet these additional requirements as part of their mandatory 36 CE hours in their 3-year license cycle.
1. Uniform Owner-Resident Relations Act CE
Required once every 3-year cycle
Prior to offering property management services, brokers must complete the ‘Uniform Owner-Resident Relations Act’ course. If the ‘Uniform Owner -Resident Relations course is not available, NMREC may approve a course in its place.
2. Property Management CE
Minimum of 6 CE during every 3-year cycle
3. NMREC Commission Meeting, Rule or Disciplinary Hearing
Minimum of 3 hours during every 3-year cycle
Associate Brokers who offer property management services must attend a NMREC Commission Meeting, Rule or Disciplinary hearing for a minimum of 3 hours or until the commission meeting ends and goes into executive session. GAAR offers video replays of commission meetings that can be attended that will meet this requirement.
Additional Requirements for License Renewal
1. Fingerprinting
Brokers looking to renew their license through 2019 must complete a fingerprint scan:
- Visit www.cogentid.com and register to complete your fingerprints at an approved live scan site
- Use the NMREC identifier number NM920263Z
- Submit payment with your fingerprint registration before visiting your scan site
Hard copy fingerprints are only accepted for brokers who reside outside of New Mexico.
2. Insurance
Active status brokers must provide documentation that they have a current Errors and Omissions Insurance Policy.
Qualifying Broker Requirements in New Mexico
Minimum of 36 CE hours every 3-year cycle to renew their license. Refer to the NMREC Approved Course List to ensure a class will fulfill a requirement.
1. Core Course or "NMCC"
4 CE is required every year for a total of 12 CE each 3-year cycle
Each QB should take either a 'Core A', 'Core B', or 'Core C' each year during their 3-year licensing period. These courses do not have to be taken in any specific order.
2. Core Electives or "C"
Minimum of 8 CE each 3-year cycle
Core Electives CAN BE courses that are specific to your niche of real estate such as residential, commercial, or property management.
3. Ethics or "ETH" or "ETH/NAR"
4 CE once every 3-year cycle for NMREC
4. Qualifying Broker Refresher Course
6 hour course once every 3-year cycle
All active QB's are required to complete a 6 hour Refresher Course. This is required regardless of age or years of licensure. This course will not apply towards CE hours but is a condition of license renewal.
5. NMREC Commission Meeting, Rule or Disciplinary Hearing
Minimum of 3 hours during every 3-year cycle
QB's must attend a NMREC Commission Meeting, Rule or Disciplinary hearing for a minimum of 3 hours OR until the commission meeting ends and goes into executive session. GAAR offers video replays of commission meetings that can be attended that will meet this requirement.
6. Additional Courses to meet the 36 CE Requirement
These hours can be completed from both training and education course types. A maximum of 10 CE of Training or “T” CE hours can be applied.
Property Management Requirements
QB's intending to offer property management services for others must meet these additional requirements as part of their mandatory 36 CE hours in their 3-year license cycle.
1. Uniform Owner-Resident Relations Act CE
Required once during every 3-year cycle
Prior to offering property management services, QB's must complete the ‘Uniform Owner-Resident Relations Act’ course. If that specific course is not available, NMREC may approve a course in its place.
2. Property Management CE
Minimum of 12 CE during every 3-year cycle
Additional Requirements
1. Affidavit
All QB's responsible for the supervision of Associate Brokers must complete the Supervisory QB Affidavit and supporting documentation with their license renewal. This notarized affidavit attests that the supervising QB maintains accurate records for the brokerage, provides and promotes training for Associates and actively supervises the day-to-day activities of the brokerage.
2. Fingerprinting
Brokers looking to renew their license through 2019 must complete a fingerprint scan.
- Visit www.cogentid.com and register to complete your fingerprints at an approved live scan site
- Use the NMREC identifier number NM920263Z
- Submit payment with your fingerprint registration before visiting your scan site
Hard copy fingerprints are only accepted for brokers who reside outside of New Mexico.
3. Insurance
Active status brokers must provide documentation of a current Errors and Omissions Insurance Policy.
Resource Links:
NMREC Associate Broker License Application
NMREC Qualifying Broker License Application
NMREC Core Course Planning Guide
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