In the state of New Mexico, as a real estate agent, you can create your own business in the real estate market and invest as much time and effort into it as you want.
To become a licensed real estate agent, you will need to obtain a New Mexico real estate license.
Below you may find the steps you need to complete to get your real estate license, as well as information on the license cost and time.
Generally speaking, it will take you from three to six months to become a real estate agent in New Mexico. Getting pre-license education and preparing for the test require most of this time.
In case you need to have the real estate license sooner, you can shorten the process, by completing education in two months. You will be able to receive the license much sooner providing that you do your best and study hard.
If you want to have your New Mexico real estate license, you will need to spend $95 for each time you take the exam, as well as $44 for fingerprinting.
The license application will cost you $270.
Not to forget about pre-license education, which will cost you about $250-$700. The price varies per provider and there is no fixed fee.
In conclusion, the average total cost to get a New Mexico Real Estate license is $600-$1200.
In the first place, you must be at least 18 years old and a legal US citizen/lawfully admitted alien. You must also have graduated from high school or its equivalent.
In New Mexico, you should complete 90 hours of pre-license education before you take the state licensing exam. The pre-license course should consist of three classes, which cover real estate law, practice, principles and basics. Each of these classes must contain 30 hours respectively.
Whatever coursework you decide to attend, you should choose a state approved one. The reason for this is that approved courses deliver relevant knowledge, easy learning methods and brand new approaches.
Prior to your graduation, there will be a final course exam, which will determine whether you have mastered the above-mentioned topics. Once you pass the final exam, you will receive a Certificate of completion. You will need the latter as a proof of completing required education.
Unlike the state exam, you will not need to take the test in the presence of a proctor. However, this should not distract you from that fact, that you cannot use helping materials.
In similar fashion, you need to take the New Mexico real estate license exam to be eligible for licensure. Click here to register for the exam and schedule a sitting.
As it was said, the test will be proctored and you should take the exam under his control.
Another important step is to get Errors and Omissions insurance coverage, which is a requirement for all active licenses in the state of New Mexico.
RISC is responsible for providing the insurance policy.
The exam results are valid for only six months and you must apply for licensure within this timeline. If you do not, you will need to take the exam, again.
To apply, you must submit the application to the New Mexico Real Estate Commission and pay the $270 license fee.
New Mexico Real Estate Commission
5500 San Antonio Dr. NE Suite B
Albuquerque, NM 87109
Phone: (505) 222-9820