Key Takeaways
- The New Mexico Real Estate Commission (NMREC) regulates real estate licensees under the New Mexico Real Estate License Law
- NMREC operates under the Regulation and Licensing Department (RLD) of New Mexico
- NMREC has authority to investigate complaints, conduct audits, and take disciplinary action including license suspension or revocation
- New Mexico requires 90 hours of pre-license education for associate broker applicants
- New Mexico uses the terms "Associate Broker" and "Qualifying Broker" instead of salesperson and broker
New Mexico Real Estate Commission (NMREC)
The New Mexico Real Estate Commission (NMREC) is the state agency responsible for licensing, regulating, and overseeing real estate professionals in New Mexico under the New Mexico Real Estate License Law (Chapter 61, Article 29 NMSA 1978).
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NMREC Structure and Authority
Commission Organization
NMREC operates under the Regulation and Licensing Department (RLD) of New Mexico. The Commission is responsible for:
| Function | Description |
|---|---|
| Licensing | Process applications, approve education providers, issue licenses |
| Education | Set education requirements, approve courses and schools |
| Enforcement | Investigate complaints, conduct audits of trust accounts |
| Discipline | Suspend, revoke, or deny licenses; impose fines |
| Rulemaking | Adopt and enforce administrative rules |
Key NMREC Functions
| Function | Description |
|---|---|
| Issue licenses | Associate brokers and qualifying brokers |
| Approve education | Pre-license, post-license, and continuing education courses |
| Investigate complaints | Consumer protection and professional standards |
| Conduct hearings | Disciplinary proceedings |
| Adopt rules | Title 16, Chapter 61 NMAC |
New Mexico Real Estate License Law
The New Mexico Real Estate License Law is the primary statute governing real estate licensing. Key provisions include:
- Who must be licensed - Definitions of associate broker and qualifying broker activities
- Exemptions - Attorneys, property owners, certain employees
- Prohibited conduct - Actions that violate the law
- Disciplinary actions - Grounds for suspension or revocation
- Trust fund handling - Requirements for client funds
License Categories in New Mexico
New Mexico uses different terminology than many states:
| New Mexico Term | Equivalent in Other States |
|---|---|
| Associate Broker | Salesperson |
| Qualifying Broker | Broker |
Exam Tip: New Mexico does NOT have a "salesperson" license. The entry-level license is called "Associate Broker."
License Recognition Agreements
New Mexico has license recognition agreements with three states:
| State | Agreement Type |
|---|---|
| Massachusetts | License recognition |
| Louisiana | License recognition |
| Georgia | License recognition |
Recognition Agreement Benefits
Licensed brokers from these states may:
- Receive a waiver of 60 of the 90 hours of pre-license education
- Be exempt from taking the national broker exam
- Still required to take the 30-hour Broker Basics course
- Still required to pass the state portion of the examination
Note: This is NOT full reciprocity. Applicants must still meet New Mexico-specific requirements.
NMREC Contact Information
| Resource | Information |
|---|---|
| Website | rld.nm.gov |
| Main Office | Santa Fe, New Mexico |
| Division | Regulation and Licensing Department |
| Online System | NMRLD online licensing portal |
What is the entry-level real estate license called in New Mexico?
Which states have license recognition agreements with New Mexico?