New Mexico law states that anyone can become a real estate agent, provided you meet the necessary requirements. Choosing to become a realtor is a big decision. It requires the understanding that your work involves helping families find the perfect place to call home. Real estate agents do not have cushy desk jobs in New Mexico; you'll work morning, noon, night, weekends and maybe even a few minor holidays. Your schedule is one that you create, but it requires working around the schedules of your clients so that you may meet their needs.
To become a licensed real estate agent in New Mexico, you have to meet specific requirements. These requirements are put into place by the New Mexico Regulation and Licensing Department. They are designed to ensure that all realtors are suited for this career, and that all realtors are trustworthy and eligible applicants. The requirements are as follows.
Prior to taking the New Mexico real estate exam, you must receive a certificate of completion for 90 hours of pre-licensing coursework. This coursework may be completed online or in a classroom setting. These 90 hours will consist of three courses; Real Estate Law, Real Estate Practice, and Broker Basics. Once you complete the course, you will receive a certificate of completion and you may apply to take your state examination.
To apply for the exam, you need only to fill out the application on the PSI website. You will pay a fee of $95. This fee covers both portions of the state exam. You can schedule the exam anytime you'd like to take it, and take it repeatedly until you pass both sections. However, know that you must pass with a score of 75 or higher. If you do not pass one portion of the test, you only have 90 days to pass the second portion before you are required to retake both portions.
Once you receive a passing score on both portions of the New Mexico State examination, you have approximately 6 months to send in your application for licensure. You will need to include with your application a written confirmation of your test scores from PSI, a $270 application fee, your certificate of completion of your pre-licensing course work, a fingerprint certification form provided by the locality in which you have your fingerprints taken, and a copy of your errors and omissions insurance policy, which you may apply for individually or through the brokerage for which you will be employed.
During every three year period following the date you become licensed as a New Mexico real estate agent, you are required to complete 30 hours of continuing education. These classes must include 8 hours of real estate commission courses and 22 credit hours of approved training courses. You can find a list of approved courses by contacting the New Mexico Regulation and Licensing Department.
Becoming a real estate agent in New Mexico opens doors for an impressive and successful career. If you have the determination and drive to complete the mandatory education and exam requirements, you will find that this career is one that is both rewarding and profitable. When you love what you do, it does not feel like work.