How to Become a Real Estate Agent in New Mexico (2026 Guide)

Ready to get your New Mexico real estate license?

If you want to become a real estate agent in New Mexico, the process is straightforward, though the state uses different terminology than most: your license title will be “associate broker” (what most states call a salesperson or agent). You’ll need to complete 90 hours of pre-licensing courses, pass the state exam, get fingerprinted, secure Errors & Omissions insurance, and find a sponsoring broker.

We’re going to walk you through the entire process and help you get your New Mexico real estate license so you can start your new career.

We’ll cover:


5 Steps to Get a Real Estate License in New Mexico

The New Mexico Real Estate Commission (NMREC) has a few requirements to become an associate broker. You must be at least 18 years old and have a high school diploma (or equivalent). If you meet the prerequisites, you can complete the following steps:

STEP 1 | Complete the 90-Hour Associate Broker Pre-License Course

  • New Mexico’s 90-hour pre-license education is split into three 30-hour courses: Real Estate Principles and Practices, Real Estate Law, and Broker Basics. You must complete all 90 hours within 3 years of applying to take the exam. If you’re already licensed as a salesperson or broker in another state, you may qualify for a partial waiver of the Principles and Law courses (and the national portion of the exam) by providing a certified license history.

STEP 2 | Schedule + Pass the New Mexico Real Estate Exam

  • Once you complete your 90-hour course, you’ll apply for exam eligibility with PSI, the testing vendor. The exam fee is $95 and covers both portions — the same flat fee applies whether you’re retaking one section or both.
  • The exam has 125 scored questions (75 national, 50 New Mexico-specific), and you’ll need a minimum score of 75 on each portion to pass. You must pass both portions within 90 days of your first attempt, and you have 6 months after passing to submit your license application. See our FAQs section to learn more.

STEP 3 | Get Fingerprinted + Secure E&O Insurance

  • After passing your exam, you’ll need to submit fingerprints to the New Mexico Department of Public Safety for a state and national background check. You’ll also need to purchase an Errors & Omissions (E&O) insurance policy before you can apply — this protects you and your future clients against professional liability claims.

STEP 4 |  Find a Sponsoring Broker

  • New Mexico associate brokers must work under a licensed qualifying broker — you cannot practice independently. In order to activate your license, you’ll need to select a broker to affiliate with. Keep reading below for tips on what to look for when picking a brokerage.

STEP 5 |  Submit Your New Mexico Real Estate License Application

  • Once you have your exam results, fingerprint clearance, E&O insurance, and a sponsoring broker lined up, submit your application through the NM-PLUS online licensing portal. You’ll pay a $270 license fee. Most applicants receive their license within about 5 business days of a completed application.

How Long Does It Take to Get a Real Estate License?

Once you decide to become a real estate agent in New Mexico, you’re probably excited and want to get started immediately.  Before you leave your current position, it’s important to understand how long the process can take.  Here is what an average timeline looks like:

  • 4 to 10 weeks to complete your 90-hour New Mexico pre-licensing course
  • 1 to 2 weeks to get your state real estate exam scheduled
  • 1 to 2 weeks to get fingerprinted and secure your E&O insurance policy
  • 1 to 3 weeks to interview and select a sponsoring broker
  • About 1 week for the NMREC to process your license application

While this timeline may seem a little daunting, there are a few ways to expedite things. First, taking an online course is the way to go.  Instead of attending scheduled in-person classes, you can learn at your own pace online.  We also highly recommend interviewing brokerages while you are finishing up your real estate course, so you are ready to hang your license with a broker as soon you pass the state exam.  All in all, it’s definitely possible to become a real estate agent in New Mexico in about 8 to 12 weeks.


Cost to Get a Real Estate License in New Mexico

New Mexico calls its entry-level real estate license an associate broker license. To qualify, applicants must complete 90 hours of approved prelicensing education, pass the broker examination, complete a background check, and obtain Errors and Omissions insurance.

ExpenseEstimated Cost
90-Hour Prelicensing Course$450–$950
Broker Examination$95
Associate Broker License Application$270
Fingerprinting and Background CheckAbout $60
Real Estate Recovery Fund Fee$30
Errors and Omissions Insurance$164–$410
Exam Prep or Study Materials$25–$150 (optional)

Estimated Cost to Get Licensed: $1,070–$1,815

Including optional exam preparation, budget approximately $1,095–$1,965.

The $95 examination fee, $270 license fee, and $30 recovery fee are published by the New Mexico Real Estate Commission. Course and insurance prices vary by provider.

For comparison, New Mexico E&O policies currently range from approximately $164 to $410, while the state group program costs $380 for a full year and is prorated for agents enrolling later in the year. View the 2026 state group policy rates.

More Costs to Expect as a Brand-New Real Estate Agent

Getting licensed is only the beginning. New agents should also budget for post-licensing education, professional memberships, MLS access, brokerage expenses, marketing, and other costs associated with starting a real estate business.

ExpenseEstimated Cost
New Broker Business Practices Course$150–$300
Continuing Education$150–$300 per 3-year cycle
License Renewal and Recovery Fee$300 every 3 years
E&O Insurance Renewal$164–$410 annually
Local, State and National REALTOR® DuesApproximately $700–$1,000+ annually
MLS AccessApproximately $400–$600 annually
Electronic Lockbox KeyApproximately $250–$350 the first year
Brokerage Joining Fee$0–$500
Monthly Brokerage Fees$0–$350 per month
Business Cards and SignageVaries
Marketing and AdvertisingVaries

One important first-year requirement: every new associate broker must complete either the New Broker Business Practices course or CCIM 101 within the first year of licensure. The New Broker Business Practices course is 30 classroom hours and may count for up to 10 continuing-education hours. Associate brokers must complete a total of 36 continuing-education hours during each three-year licensing cycle. Review New Mexico’s education requirements.

REALTOR® membership is not required simply to hold a license. Agents who join a local association automatically receive state and national membership. Examples include the Greater Albuquerque Association of REALTORS® and the Santa Fe Association of REALTORS®. Dues and MLS charges vary by association and may be prorated based on when an agent joins.

In the Albuquerque market, GAAR currently lists Supra eKEY Basic at $15.43 per month, plus a $50 activation fee and $16.18 setup fee. The professional version costs more. View GAAR’s current lockbox pricing.

Estimated First-Year Cost to Become a Working Real Estate Agent: $2,600–$4,600+

This estimate includes licensing, required first-year education, typical REALTOR® and MLS expenses, an electronic key, and a possible brokerage joining fee. It does not include optional exam preparation, monthly brokerage fees, marketing, signage, or other variable business expenses.

WHAT EXPENSES TO EXPECT AS A NEW AGENT >>


Find the Top Real Estate Schools

To get your real estate license, you’ll have to attend a school that’s approved by the New Mexico Real Estate Commission (NMRLD). There are dozens of approved real estate schools throughout the state. Most are online, others in person, and a few do a combination of the two. Please note that some of the school links below are affiliate links. If you enroll through one of these links, we may earn a commission at no additional cost to you.

Here are a few of the most popular:

SCHOOL COMPARISON GUIDE >

When shopping for the best online real estate schools, you’ll want to compare pricing, but there are a few other things you will need to consider:

  • Do they share their “pass rate”? This will tell you what percentage of their students passed the state exam on the first try.
  • Does the school offer any guarantees if you don’t pass? For example, one school will pay the fee for you to retake the state exam.
  • Are practice tests given to the students or is there any additional charge?
  • Do they offer a separate exam prep course or a weekend cram course?
  • Are instructors available if I have questions? If so, what are their hours?

How to Select a New Mexico Real Estate Broker

In New Mexico, you must affiliate with a qualifying broker in order to actively help home buyers and sellers. Picking the right brokerage to work with can be key to your success as a newly licensed agent.

IMPORTANT QUESTIONS TO ASK WHEN CHOOSING A BROKER >>

While many newly licensed agents are looking for the best commission splits when shopping for brokers, we would highly recommend that you make that #2 or #3 on your list. The most important thing you should look for in a brokerage is how they support brand new real estate agents. Do they have a formal training program? Will you have at least 3 people you can reach out to if you have questions? Are they available outside traditional business hours? Do they have mentors – and what exactly will the mentors do to assist you? All important things to consider when you are ready to become a real estate agent in New Mexico!

How to Become a Real Estate Agent / Broker in New Mexico: FAQs

How difficult is the NM real estate test?

New Mexico’s real estate exam has a reputation for being tough — the first-time pass rate is estimated around 54%.  There are 125 scored questions (75 national, 50 New Mexico-specific), and you’ll need a minimum score of 75 on each portion to pass. You’ll have 3 hours total to complete both sections (2 hours for the national portion, 1 hour for the state portion).

What happens if I fail the real estate exam?

It’s not uncommon for people not to pass the exam on the first try. You must pass both the national and state portions within 90 days of your first attempt, or you’ll need to start over. Retaking a portion (or both) costs the same $95 exam fee.
Please note: Once you pass both portions, you have 6 months to submit your license application before your exam results expire.

Can I get a New Mexico real estate license if I have a misdemeanor or felony on my record?

Having a criminal record doesn’t automatically disqualify you. The NMREC reviews each applicant’s fingerprint-based background check individually and considers factors like the nature of the offense, how much time has passed, and evidence of rehabilitation. You’ll need to disclose any convictions on your application. If you have concerns about your background, we’d recommend contacting NMREC directly before investing in a pre-license course.

What is the entry-level real estate license title in New Mexico?

In New Mexico, entry-level agents are legally called Associate Brokers. Unlike states that issue “salesperson” licenses, New Mexico uses a broker-only system where new agents work under the supervision of a Qualifying Broker.

How long does it take to become a real estate agent in New Mexico?

Most students complete the licensing process in 2 to 4 months. If you take your 90 hours of mandatory education through a self-paced online school, you can finish the coursework in 4 to 6 weeks. Scheduling the PSI exam, completing fingerprinting, and getting application approval through the New Mexico Real Estate Commission (NMREC) usually adds another 2 to 4 weeks.

What score do I need to pass the New Mexico real estate exam?

You must achieve a score of at least 75% on both the National and State-specific portions of the Associate Broker exam. Administered by PSI, the test features 125 total questions (75 national and 50 state-specific). You have 3 hours total to complete the exam (2 hours for National, 1 hour for State).

Do I need Errors and Omissions (E&O) insurance before getting licensed in New Mexico?

Yes. New Mexico requires all active Associate Brokers to show proof of Errors and Omissions (E&O) insurance coverage before their license application can be approved by NMREC. You can enroll in the state-group policy or purchase private coverage that meets state standards.

Do I have to join a local Board of REALTORS®?

No, state law does not require you to join a Board of REALTORS® to hold a real estate license or assist clients. However, most agents do join because their sponsoring broker belongs to the association, which typically requires all agents under that brokerage to become members. Board membership is also common because it provides convenient access to the local Multiple Listing Service (MLS), electronic lockboxes, and standard transaction forms.

I have a real estate license in another state. Does New Mexico offer reciprocity?

New Mexico doesn’t offer full reciprocity, but it does offer a meaningful shortcut: if you hold an active salesperson or broker license in another state and can provide a certified license history, you may be exempt from the 30-hour Real Estate Principles and Practices course, the 30-hour Real Estate Law course, and the national portion of the exam. You’d still need to complete the Broker Basics course and pass the New Mexico-specific portion of the exam. Contact NMREC directly to confirm what applies to your specific situation.

How much can real estate agents earn in New Mexico?

According to Indeed.com, the average New Mexico real estate agent makes about $94,242 a year. Keep in mind real estate agents are commission-based, so your actual earnings depend heavily on how many homes you sell and the price points in your market.

PRO TIP: To calculate how many homes you’ll need to sell, look up the average home sales price in your city (just google it!). For example, if the median sales price in your area is $350,000 and you earn 2.5% commission on a sale, your gross commission would be about $8,750 per sale. To earn the New Mexico average, you’d have to sell about 11 homes.

Is it worth doing real estate part-time in New Mexico?

Yes, if you close at least 2 to 3 deals per year. Part-time real estate in New Mexico can be a profitable side business, but mandatory annual fees mean you need to cover your fixed overhead first (Errors & Omissions (E&O) insurance, REALTOR® association dues, local MLS/lockbox access, and brokerage desk fees, licensing fees, etc).

Earning Potential: With a median state home price around $320,000, a single transaction yields ~$5,600 to $6,700 in net commission (after a standard brokerage split).

The Bottom Line: Closing 1 home per year breaks even on expenses, while closing 2+ homes generates $8,000 to $15,000+ in net profit. It works best if you pair with a part-time friendly Qualifying Broker and have schedule flexibility for evening or weekend showings.