How To Become A Licensed Real Estate Broker In New Mexico
With the housing market well on the way to complete recovery, many licensees making the move to become a real estate broker in New Mexico. After all, one of the benefits of a forming a career in real estate is the control it allows you in shaping your personal success. The step towards becoming a broker is the beginning of an exciting new chapter in the life of a real estate professional. There is no need to wait for a promotion. A real estate licensee is able to simply make the decision to sign up for broker training and the state exam. Once this decision has been made, it may be only a matter of weeks before you are working as a New Mexico broker. Real estate sales associates in New Mexico who are ready to take the next step in their real estate careers can begin the process of becoming a licensed real estate broker by completing the state’s requirements for licensure.
New Mexico Real Estate License Requirements
- Age: 18 years old
- Residency: a legal residency of the U.S.
- If you are licensed in another state, you need to submit a certified license certificate or certified license history
- Experience and Education: active New Mexico licensed Associate Broker experience for at least 2 years and successfully complete 120 hours of approved real estate courses. Those courses include Real Estate Principles and Practice, Real Estate Law, Broker Basics, Brokerage Office Administration.
New Mexico Reciprocal Agreements
Currently, the state of New Mexico has reciprocity agreements in place with:
Real Estate Broker Licensure Exam in New Mexico
Firstly, one must pay the registration fee of $95 to take Real Estate Broker Licensure Exam in New Mexico.
There are 2 parts of the New Mexico Real Estate Salesperson Exam: national and state specific. National part has more questions and is more complex than state specific part. There will be such number of questions in each part of the exam:
National part: 80 questions (answer 60 questions correctly to pass this part)
State specific part: 50 questions (answer 38 question correctly to pass this part)
Time limit: 120 minutes for the national part and 60 minutes for state specific part
Check psiexams.com to see whether you meet all the requirements for the Real Estate Broker Exam in New Mexico. You can also schedule your exam date there.
If you successfully pass the first part of the exam in New Mexico, you can take the other part during 90 days.
The exam is taken on a computer. You will be able to see your results when you finish it.
Real Estate Broker Software
The Right Tools
The most professional real estate workers often require software to efficiently sort through paper work. It has been pointed out that good software such as Brokermint can transform a real estate business for the better. Back office software should be able to create a consistent and manageable flow from lead generation to closing and accounting. It should be able to cross integrate with Contact Management systems (CRM), MLS and Accounting Packages. The main goal of this type of software is to help real estate experts save time managing day-to-day operations, get instant visibility on production data and remain in compliance with regulations.
Software like Brokermint perfectly fits for small companies that recently started their real estate business.
There are other tools that are useful to real estate agents. Having a strong social media presence through sites such as Facebook or LinkedIn can come in very handy in attracting potential customers. Also consider using Zillow and Trulia. These websites help track information on available real estate properties in local areas. Be sure to familiarize yourself with the kinds of tools that real estate brokers need to work in the field. It is a necessity to feel prepared in this business.
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