How long does it take to get a New Mexico associate broker license?

Most people finish in about 6-12 weeks. The 90 hours of coursework (three 30-hour courses) is the longest stretch — figure 4-8 weeks if you're studying part-time. After that, the clock matters: you must pass both exam portions within 90 days of your first attempt, and apply for the license within six months of passing.

How much does a New Mexico real estate license cost?

Expect roughly $1,000-$1,550 — the highest of the three-state batch, mainly because of the $270 license fee (it covers a three-year license) and mandatory E&O insurance. Fixed costs: $95 PSI exam, about $44 for fingerprinting, $270 license fee, and roughly $200-$350 for your first year of E&O. The 90 hours of education typically runs $450-$800.

Do I need a broker before I apply for my New Mexico license?

To hold an active license, yes — every active associate broker must be affiliated with an actively licensed qualifying broker (New Mexico's term for a managing/employing broker). You'll also need your E&O insurance in place, since it's required for active licensees. Plan to interview brokerages while you're taking the Broker Basics course.

Can I get a New Mexico real estate license with a felony or criminal record?

It depends on the offense. Every applicant submits fingerprints for state and FBI background checks, and New Mexico publishes an actual list of disqualifying criminal convictions in its rules (16.61.3 NMAC) — worth reading before you spend money on courses. Convictions outside that list are reviewed case by case, and honest disclosure always beats an omission the background check will surface anyway.

Why is New Mexico's entry-level license called 'associate broker' instead of 'salesperson'?

New Mexico eliminated the salesperson license level in 2006 and moved everyone to a broker-based system. The entry license is 'associate broker' — functionally the same as a salesperson license elsewhere (you still work under a supervising 'qualifying broker') — but the education bar is higher: 90 hours instead of the 60-75 common in salesperson states, including a Broker Basics course. Don't let the title confuse you when comparing states.

New Mexico · NM

How to get your New Mexico real estate license

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

A minimum score of 75 on both the national and state portions — higher than the 70% most states require. And there's a deadline: both portions must be passed within 90 calendar days of the first time you test, or you'll have to retake both. The exam is administered by PSI, and the $95 fee covers both portions.

Everything you need to earn a New Mexico salesperson license — from eligibility to your first sponsoring broker.

Requirements last verified July 8, 2026 by Matt Cochrell, licensed broker.

Quick answer · Verified July 8, 2026

How to get a New Mexico real estate license

Hours required: 90 hrs
Total cost: $1,000 – $1,550
Typical timeline: 6–12 weeks
Minimum age: 18+

Step 1

Confirm you're eligible for a New Mexico real estate license

You must be at least 18 years old and hold a high school diploma or GED to apply for a New Mexico real estate license. A criminal background check is required — most non-violent offenses are reviewed case-by-case.

Step 2

Complete 90 hours of pre-licensing education

Note: New Mexico's entry-level license is called an Associate Broker license (there is no 'salesperson' license). The 90 hours break into three 30-hour commission-approved courses — Real Estate Principles and Practice, Real Estate Law, and Broker Basics — all of which must be completed within the three years before you apply to take the exam.

Complete the 30-hour Real Estate Principles and Practice course from a commission-approved provider.
Complete the 30-hour Real Estate Law course.
Complete the 30-hour Broker Basics course — New Mexico's state-specific course that even out-of-state license holders must take.
Make sure all three certificates are dated within the three years before you apply for the exam, then submit your course completions with your exam application to PSI.

Step 3

Pass the New Mexico real estate exam

New Mexico uses PSI to administer the licensing exam. You'll need a passing score of Minimum score of 75 on each portion (state and national); both portions must be passed within 90 calendar days of your first attempt. The exam fee is $95. Expect roughly 100 national questions and 40–50 state-specific questions. Format: Two-part computer-based exam at PSI test centers: 80-question national broker portion and 50-question New Mexico state portion; the $95 fee covers both portions whether taken together or separately.

Step 4

Apply for your New Mexico license

Apply for exam eligibility directly with PSI (the commission's examination contractor), submitting your three 30-hour course certificates with the registration form and $95 exam fee.
Pass both the national and state portions with a score of 75+ within 90 days of your first attempt — miss the window and you retake both portions.
Get fingerprinted through the state's electronic fingerprint vendor for the state and national (FBI) arrest record check — the processing fee is approximately $44. Fingerprints are required for all new applications but not renewals.
Purchase errors and omissions (E&O) insurance that meets 16.61.5 NMAC — required for all active licensees, and a certificate of insurance goes in with your application (the commission's group carrier runs roughly $200-$350 per year).
Affiliate with an actively licensed New Mexico qualifying broker — an active associate broker must work under a qualifying broker, so line up your brokerage before applying.
Submit your license application to the NM Real Estate Commission with your PSI score report, fingerprint documentation, E&O certificate, and the nonrefundable license fee of $270 — and do it within six months of passing, or you'll have to retest.

Step 5

Find a sponsoring broker

Your New Mexico license stays inactive until a licensed broker sponsors you. Interview at least 2–3 brokerages, compare commission splits, training, and lead sources, and pick the one that fits your career goals — not just the highest split.

New Mexico real estate license cost breakdown

Here's a realistic estimate of everything you'll pay to earn your license. Course price is the largest variable — state fees are fixed.

Cost breakdown
Item	Amount
90-hour pre-licensing education (three 30-hour courses)	$550
Licensing exam (PSI, both portions)	$95
Fingerprinting and background check	$44
Errors & omissions insurance (first year, est.)	$300
Associate broker license fee (3-year license)	$270
Estimated total	$1,259

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