New Mexico Administrative Code

New Mexico Real Estate Commission.

The provisions in Part 13 of Chapter 61 apply to all brokers intending to renew or reactivate their New Mexico broker license.

Part 13 of Chapter 61 is promulgated pursuant to the Real Estate Licensing Law, NMSA 1978 Section 61-29-4.

Permanent.

1-1-2000, unless a later date is cited at the end of a section.

The objective of Part 13 of Chapter 61 is to set forth continuing education requirements for New Mexico real estate brokers.

Refer to 16.61.1.7 NMAC.

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, the following requirements apply: A. All active and inactive associate brokers shall successfully comp…

At the time of license renewal, associate brokers and qualifying brokers shall submit to the real estate commission verification of completion of continuing education course work.

New Mexico real estate commission, information to the commission real estate brokers and to public or private persons involved in, interested in, or affected by the commission's broker education programs.

Proposals to enter into contracts for education or research with the commission will be required to contain the following: A. a statement of the educational objective of the proposed program or research; B. a statement of how the program will benefit associate brokers or qualifyi…

A. The commission shall act on all proposals within sixty (60) days of receipt of a written original or amended proposal and shall notify the applicant in writing of: (1) the terms of acceptance of the proposal; (2) the reason or reasons for rejection of the proposal; (3) any fur…

Within thirty (30) days of the end of the term of the contract or at such other time as the commission may require, the provider under contract shall provide to the commission a report of the expenditure of funds under the contract, and a written report explaining how the program…

Any advertising of a program or project funded by the education and training fund must indicate that the New Mexico real estate commission underwrites a portion or all of the cost of the program. Any publication or any other educational materials produced as a result of a contrac…

All materials developed or acquired by a Contractor providing educational and research services funded in whole or in part by the Education and Training Fund shall become the property of the New Mexico real estate commission and shall be delivered to the Commission no later than …

No substantive changes, including schedule of programs, may be made in a program under a contract for education and research without the prior approval of the commission. The commission at a regularly scheduled meeting may make emergency changes on a temporary basis with the prio…

Any courses offered to New Mexico licensed associate brokers and qualifying brokers which the commission has underwritten in part or in total must be made available to all persons regardless of race, color, religion, sex, handicap, familial status, national origin, age, or member…

Any funds not expended in the implementation of a contract for education or research shall be returned to the commission within thirty (30) days of the termination date of the contract or at such other time as the commission approves.

The Real Estate Education and Training Fund shall consist of an initial transfer of the balance in the Real Estate Recovery Fund in excess of the $150,000 statutory minimum balance; legislative appropriations to the fund; fees charged by the commission for approval of real estate…

Any violation of the provisions of this part, any falsification or misrepresentation in a proposal for a contract for education and research, or violation of any written agreement entered into with the commission under this part may result in a termination of the contract and the…

The provisions in Part 14 apply to Title 16, Chapter 16 and provide relevant information to the commission real estate brokers and to public or private persons involved in, interested in, or affected by the commission's broker education programs.

Part 14 of Chapter 61 is promulgated pursuant to the Real Estate Licensing Law, NMSA, Section 61-29-20.

Permanent.

1-1-2007, unless a later date is cited at the end of a section.

The objective of Part 14 of Chapter 61 is to set forth to all affected persons the manner in which the education and training fund will be administered by the commission.

Refer to 16.61.1.7 NMAC.

The New Mexico real estate commission may enter into contracts with public or private institutions or individuals to establish, continue, or expand educational programs or research programs which will benefit real estate brokers and the public in its potential dealings with real …

The amount to be paid and the duration of any contract shall be as provided for in each contract. Any amendment to a contract to increase the payment or extend the time of performance shall be at the discretion of the commission. No provision of any contract shall be construed as…

New Mexico Real Estate Commission.

A. All sponsors wishing to offer commission approved courses for credit must be approved by the commission before the course being offered for credit. B. Educational institutions, proprietary schools, professional organizations or businesses wishing to become commission approved …

A. Any pre-licensing or continuing education course must have been approved by the commission before the course being offered for credit. Courses must incorporate New Mexico law and rules when relevant. A course application form must be completed and submitted to the commission b…

A. Commission approved course instructors. Instructors must be approved by the commission before teaching courses. The following requirements apply to all commission approved instructors. (1) Be honest, truthful, reputable, professional, and competent. (2) Submit a commission-app…

The provisions in Part 15 of Chapter 61 apply to all real estate pre-licensing and continuing education course sponsors and instructors wishing to obtain accreditation to offer and teach real estate pre-licensing and continuing education courses to New Mexico real estate brokers.

Part 15 of Chapter 61 is promulgated pursuant to the Real Estate Licensing Law, NMSA 1978 Section 61-29-4.

Permanent.

1-1-2012, unless a later date is cited at the end of a section.

The objective of Part 15 of Chapter 61 is to set forth the procedures and requirements for the accreditation of real estate continuing education and pre-licensing sponsors, courses, and instructors.

Refer to 16.61.1.7 NMAC.

The commission shall appoint an education advisory committee (EAC), hereinafter referred to as the committee, with the goal of upgrading and improving the real estate education program in order to carry out the commission's mission of protecting the public and increasing the prof…

A. Courses offered for New Mexico real estate commission approved credit must be offered by sponsors approved by the New Mexico real estate commission and be taught by instructors approved by the commission. B. Applications for sponsor, instructor and course approvals must be fil…

New Mexico Real Estate Commission.

Any of the following may be considered by the commission as mitigating factors regarding an alleged violation of the responsibilities named in 16.61.16.9 NMAC, above A. The qualifying broker has written policies guiding brokers from violating state or federal laws regarding real …

The provisions in Part 16 of Chapter 61 apply to all New Mexico qualifying brokers.

Part 16 of Chapter 61 is promulgated pursuant to the Real Estate Licensing Law, NMSA 1978 Section 61-29-4.

Permanent.

1-1-2012, unless a later date is cited at the end of a section.

The objective of Part 16 of Chapter 61 is to set forth the responsibilities, in addition to all other requirements imposed by law, of a qualifying broker.

Refer to 16.61.1.7 NMAC.

A qualifying broker is responsible for all real estate activities within the brokerage. A qualifying broker may serve concurrently as a qualifying broker for more than one brokerage. A qualifying broker may by written agreement engage the services of associate brokers and qualify…

A qualifying broker shall, in addition to all other requirements imposed by law, comply with the following: A. Conduct the real estate brokerage business under the trade name and from the brokerage address or addresses registered with the commission. B. Prominently display in the…