New Mexico Real Estate Commission (NMREC):
Composition of Hours
“Except for brokers who are exempt from continuing education by virtue of having attained 65 years of age and a minimum of 20 years of continuous licensure prior to July 1, 2011;” (emphasis added) all licensees are subject to:
- 36 total hours CE each 3-year cycle,
- 4 hours of ethics, and 12 hours of the annual core course. [See Further Core Course Explanation below.]
- Associate Brokers must have 4 hours of “core elective” credits.
- Qualifying Brokers must take 8 hours of “core elective” credits, and
- Qualifying Brokers must also take: Qualifying Broker Refresher, and attend a Commission meeting or a Commission Disciplinary hearing.
(Please refer to: 16.61.3.13. Qualifying Broker License Renewal Requirements) [Refer to: 16.61.13.8. NMAC – Requirements, Rules of the NMREC, page 74] [See further below concerning “exempt licensees.”]
CORE COURSE REQUIREMENT
All Brokers must complete the annual NMREC Core Course requirement. The NMREC Core Course requirement is 4 hours each year (annual) of a licensee’s cycle (12 cumulative hours of the NMREC Core Course series. The word “annual” is always defined strictly as having completed 3 separate annual calendar year iterations of the core course within a set 3-year cycle. Core Courses are issued each calendar year with a title prefaced by that year’s calendar year (i.e. 2020 NMREC Core Course). Three 4-hour core courses accumulate to 12 CEU hours per full 3- year cycle.) The Licensee will see in this Core Course Planning Guide that the accomplishment of the requirement for most licensees affords them 2 options for achieving the requirement.
PROPERTY MANAGER CONTINUING EDUCATION REQUIREMENTS
As of January 1, 2019, anyone who has submitted a Property Management Declaration is subject to those requirements. Those requirements differ between Qualifying Brokers and Associate Brokers but are meant to be accomplished within the context of the 36-hour minimum CE requirement for renewal which includes the specific ethics and core elective requirements. Property Management educational requirements are not meant to be additive to, but rather, inclusive within the 36-hour minimum educational requirement. Property Management electives including “core electives” and “ethics” designated courses are meant to serve within the context of the 36 hours. Please review the continuing education requirements pursuant to the January 1, 2019 rule change at: 16.61.13.8. NMAC – Requirements, Rules of the NMREC, page 76, paragraph N.]
Post Licensing Requirement
By NMREC Rule, either the New Broker Business Practices or the CCIM 101 Course is to be taken by all new Associate Broker licensees within the first year of licensure. The commission approved thirty (30 classroom hour) New Broker Business Practices course may count for up to ten (10) credit hours toward continuing education.
- No commission approved continuing education course will be granted more than ten (10) credit hours of continuing education credit.
- Continuing education credit hours cannot be carried forward to the next licensing cycle.
- Brokers may receive four (4) approved education course credit hours during each licensing cycle for attending commission meetings, rules hearings, and disciplinary hearings as well as the meetings of the Educational Advisory Committee
- Approved Pre-licensing and Continuing Education instructors may use up to ten (10) credit hours during each three-year licensing cycle toward fulfillment of their own continuing education requirements for teaching commission approved courses.
Click here to locate a CCIM 101 Course: CI 101: Financial Analysis for Commercial Investment Real Estate.
Qualifying Brokers
QB Refresher Course Applies to All QBs: However, all active qualifying brokers are required to successfully complete a six (6) hour qualifying broker refresher course as a condition of license renewal or as a condition of reinstatement of qualifying broker status regardless of age or years of licensure. This course is now a for credit course to help the QB meet the 42 hour cumulative CE requirement.
QB Required Attendance at Meetings and/or Disciplinary Hearings: Beginning January 1, 2018, each Qualifying Br.jpg)
oker must attend either a NMREC Meeting or an NMREC Disciplinary Hearing once in their 3 year cycle. Up to 4 hours of CE credit may be awarded for such attendance.
QB Required to take 8 hours of core electives: All QB’s will be require to take 8 hours of any core elective unless the QB practices Property Management.
QB Property Management requirement: All Property Managers must submit the appropriate Property Management Declaration which iterates their relative property management continuing education requirements each cycle. QB Property Managers must take the 6 hour NM Uniform Owner Resident Relations Act Course OR the commission approved 6 hour Commercial Property Management Course. Additionally, QBs must take an additional 12 hours of property management courses within their three year 36 hour cumulative minimum requirement.
Penalty for Not Taking an Annual Iteration of the Core Course
Penalty: Beginning January 1, 2020, there will be a renewal penalty for missing any year’s core course within the licensee’s three-year cycle. The penalty will be to take the 30 classroom hour Broker Basics course for 0 CEUs. The penalty is severe especially now that licensees should have already become used to fulfilling this important requirement. The two most common causes of licensees missing a core course are: 1. Waiting until the last minute to find an available course, and, 2. Simply not knowing the Rules of the Real Estate Commission. Inactive licensees have the same requirements and must begin to pay better attention to fulfilling these requirements.
