Which of the following is not a requirement to be appointed to the Louisiana Real Estate Commission?

A person not licensed to practice real estate in New Mexico must pass the real estate broker’s examination as prescribed by the NM Real Estate Commission.

Reciprocity — This requirement does not apply to licensed applicants from the three states with which New Mexico has a written license recognition agreement (i.e. reciprocity). Those states are: Massachusetts, Louisiana, and Georgia. If you are such a candidate, please contact .

Applications to take the broker’s examination are made directly to the commission’s examination contractor. Along with the application form, an applicant must submit certificates of completion of commission-approved 30 hour pre-licensing courses in real estate principles and practice, real estate law, and broker basics, equaling 90 prelicensure education hours. These pre-licensing courses must have been completed within the three years prior to application to take the broker’s examination.

Prelicensure Education Waiver – Examination candidates currently licensed as real estate salespersons or brokers in other states or jurisdictions are eligible to apply for a waiver of 60 of the 90 hours of prelicensure education if they can provide a certified license history from their resident licensing jurisdiction documenting that they have completed Real Estate Principals and Practice and Real Estate Law or their equivalent. The waiver would also exempt an applicant meeting these criteria from taking the national broker exam. That applicant would still be required to take a 30-hour Broker Basics Course, and take the state portion of the broker examination. Click the following link to access the Waiver Fact Sheet

QB Equivalency – Managing brokers, designated brokers or similar brokerage-in-charge brokers may be considered equivalency applicants for Qualifying Broker licensing purposes. While they are subject to prelicensure waiver provisions, they would also be required to take an additional statutorily required Qualifying Broker prelicensure course, the Brokerage Office Administration Course.

Examination Minimum Score — Applicants are required to pass both the state and national portions of the examination with a minimum score of 75 no later than 90 calendar days after the first time they took the examination.  Applicants failing to pass both portions of the examination within this time frame will be required to re-take and pass both portions of the examination before being eligible to apply for a broker’s license.

Application Deadline Following Passing Score — An individual who fails to apply for a broker’s license within six months of having passed both or applicable portions of the broker’s examination shall be required to re-take both or the applicable portions of the examinations after 180 days of notification of the passing score(s), unless they can provide in writing to the commission a reasonable explanation why they were unable to meet the six month deadline.

Legal Residency – An applicant for an associate broker’s license shall be a legal resident of the United States and have reached the age of majority in New Mexico or in the state in which the applicant resides.

Submission of License Application, Fingerprinting and Fees – Along with the license application form prescribed by the commission, the applicant must submit a written score report provided by the examination contractor documenting that he/she has passed both portions of the examination with a minimum score of 75, documentation of having been fingerprinted for purposes of matching with state and national arrest record databases, a certificate of insurance documenting that the applicant has a current errors and omissions insurance policy that meets the requirements for such insurance as described in 16.61.5 NMAC of the commission rules, and a non-refundable license application fee not to exceed $270. Upgrading an Existing NM Associate Broker License to a Qualifying Broker Level License. NM License Law and the Rules of the New Mexico Real Estate Commission state that in order for to qualify for an upgrade to a Qualifying Broker level license from the entry level Associate Broker level license:

• • Non Supervisory Level: to apply for a non supervisory Qualifying Broker level license that allows them to establish a brokerage and operate without subordinate Associate Brokers, the licensee must have achieved at least 2 years of continuous ACTIVE licensure.
  • Supervisory Level: to apply for a Qualifying Broker level license that would allow the broker to establish a brokerage and operate with subordinate Associate Brokers must have at least 4 years continuous ACTIVE licensure as a NM Associate Broker prior to application.

Those that meet these prerequisites must also meet the following criteria as well:

1. If they were originally licensed prior to 2006 as a salesperson license and were grandfathered into the Associate Broker level, that licensee must take the 30-classroom hour Broker Basics course and following that, must pass the NM Broker Examination. (Taking the Broker Basics course would yield the licensee 10 CEUs for continuing education purposes).
2. The candidate must take the 30 classroom-hour Brokerage Office Administration course. (Taking the Brokerage Office Administration course would yield the licensee 10 CEUs for continuing education purposes.)
3. The candidate must take Understanding and Using NMAR Forms (8 hour) Course.
4. The candidate must attend a NM RE Commission meeting
5. The candidate must submit a record of transactions equaling 100 points (points per transactions as detailed in the Rules of the Real Estate Commission). Transactions may include sales transactions, lease transactions or a combination thereof. A Transactional Experience spreadsheet is available on the Forms and Applications Tab of this web page.
6. The candidate must then submit an Application for the Qualifying Broker to include all of the above
   information, including fingerprinting, E and O Insurance information, and the applicant must RETURN THEIR CURRENT WALL LICENSE WITH THE APPLICATION. The application must clearly state if the applicant intends to operate as a Qualifying Broker in a separate Trade Name/ Brokerage, work as the actual Qualifying Broker for their current brokerage, or continue to operate as an Associate Broker under another Qualifying Broker.

Finger Prints are still required for all NEW applications including License Upgrades but not for the renewal of existing licenses.

Which of the following is a power of the Louisiana Real Estate Commission?

Which of the following must be reported to the Commission within 10 days?

What are the requirements for a valid real estate contract quizlet?

What information is not needed for a listing agreement?