A. All applications for licenses to act as qualifying brokers and associate brokers shall be made in writing to the commission and shall contain such data and information as may be required upon a form to be prescribed and furnished by the commission. The application shall be accompanied by:
(1) the recommendation of two reputable citizens who own real estate in the county in which the applicant resides, which recommendation shall certify that the applicant is of good moral character, honest and trustworthy; and
(2) the triennial license fee prescribed by the commission.
B. In addition to proof of honesty, trustworthiness and good reputation, an applicant shall pass a written examination approved by the commission. The examination shall be given at the time and places within the state as the commission shall prescribe; however, the examination shall be given not less than two times during each calendar year. The examination shall include business ethics, writing, composition, arithmetic, elementary principles of land economics and appraisals, a general knowledge of the statutes of this state relating to deeds, mortgages, contracts of sale, agency and brokerage and the provisions of Chapter 61, Article 29 NMSA 1978.
C. An applicant is not permitted to engage in the real estate business until the applicant has passed the approved examination, complied with the other requirements of Chapter 61, Article 29 NMSA 1978, and until a license has been issued to the applicant.
D. Notice of passing or failing to pass the examination shall be given to an applicant not later than three weeks following the date of the examination.
E. The commission may establish educational programs and procure qualified personnel, facilities and materials for the instruction of persons desiring to become qualifying brokers or associate brokers or desiring to improve their proficiency as qualifying brokers or associate brokers. The commission may inspect and accredit educational programs and courses of study and may establish standards of accreditation for educational programs conducted in this state. The expenses incurred by the commission in activities authorized pursuant to this subsection shall not exceed the total revenues received and accumulated by the commission.
History: 1953 Comp., § 67-24-27, enacted by Laws 1959, ch. 226, § 9; 1965, ch. 304, § 5; 1979, ch. 94, § 2; 1981, ch. 22, § 1; 2001, ch. 163, § 5; 2005, ch. 35, § 11.
ANNOTATIONSCross references. — For age of majority, see 28-6-1 NMSA 1978.
The 2005 amendment, effective January 1, 2006, provides for applications and examinations of applicants for licenses to act as qualifying broker and as associate broker.
The 2001 amendment, effective July 1, 2001, in Subsection A, deleted "New Mexico real estate" preceding "commission"; deleted "or has his place of business" following "resides" in Paragraph (1); in Paragraph (2), substituted "triennial" for "annual", deleted "which shall not be refunded in any event" from the end of the paragraph; in Subsection B, substituted "approved by" for "prepared by or under the supervision of" in the first sentence; removed the distinction between examinations for brokers and those for salesmen and deleted provisions that only applied to one examination or the other; in Subsection C, deleted "either as a broker or salesman" following "real estate business", inserted "approved" preceding "examination"; in Subsection E, substituted "brokers or salespersons" for "real estate brokers or salesmen" in two places, and substituted "activities authorized pursuant to" for "enabled under the provisions of" in the last sentence.
License required to sue for commission. — A person who simply brings two parties together in a real estate transaction must be licensed to sue for the recovery of a commission. To rule otherwise would be to violate the clear intent of the legislature in requiring that real estate "brokers" or salespersons be licensed. Watts v. Andrews, 1982-NMSC-080, 98 N.M. 404, 649 P.2d 472.
Apprenticeship not necessary. — There is nothing in this article requiring that an apprenticeship be served before an applicant can apply for a broker's license; to the contrary, this section specifically sets out the means to be used by the commission in determining applicant's reputation and competency. 1963 Op. Att'y Gen. No. 63-110.
Relicensing of out-of-state broker returning to state. — An individual who has been licensed as a resident real estate broker in the state of New Mexico, and who has established a residence in another state or country may subsequently return to New Mexico and be relicensed as a real estate broker upon payment of the necessary fee and filing of the required bond and meeting any other needed requirements without applying for and taking a broker's examination as required of applicants who have not previously been licensed as real estate brokers, provided that the real estate board in its discretion desires to waive the examination. 1958 Op. Att'y Gen. No. 58-186.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 12 Am. Jur. 2d Brokers § 12.
12 C.J.S. Brokers § 19.