New Mexico Register / Volume XXIX, Issue 22 / November 27, 2018

This is an amendment to Section 8 of 16.61.13 NMAC, effective 1-01-19.

16.61.13.8 REQUIREMENTS: 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;

A. All active and inactive associate brokers and qualifying brokers shall successfully complete a minimum of 36 credit hours of continuing education in courses approved by the commission during each licensing cycle.

B. Required courses include the four hour New Mexico real estate commission (NMREC) core course to be completed annually; a four hour commission-approved core elective course to be completed once during each three year licensing; and four hours of commission-approved ethics courses to be completed during each three year licensing cycle.

C. Of the remaining 16 credit hours, no more than 10 credit hours may be earned toward the continuing education requirement from commission-approved training category courses. All 16 remaining credit hours may be earned toward the continuing education requirement from commission-approved education category courses.

D. The NMREC core course requirements shall apply to those associate brokers and qualifying brokers who have not completed the eight hour mandatory course in their current licensing cycle by December 31, 2016. If a broker has so completed the eight hour mandatory course, the NMREC core course requirement will not apply until their next licensing cycle. Brokers who have completed the eight hour mandatory course in their current licensing cycle and who wish to take the NMRE core course will receive four additional hours of education category credit in their current licensing cycle.

E. The NMREC core course will have a unique course name and course number each year, including the year in which it was presented. The commission shall ensure that the content is unique for each year’s course to ensure that brokers are not receiving identical information in more than one course.

F. Pursuant to 16.61.11.8 NMAC, the licensee’s license will expire and can only be renewed within one year of expiration by payment of a late fee, and successful completion of all renewal requirements; including all applicable core course requirements. If a licensee fails to meet the core course requirements at the time of renewal, and are not exempt under 16.61.13.8 NMAC, the following policy will be in effect until December 31, 2019.

(1) If a broker failed to complete the core course required for the renewal year, the third calendar year of their license renewal cycle, the broker must complete that core course with a core course instructor, in a regular core course class setting, or another format that has been approved by the commission.

(2) If a broker failed to complete the core course required for the first and/or second years of their license renewal cycle, the broker must complete that core course with a core course instructor, in a regular core course class setting, or other format that has been approved by the commission. The broker will have the option to repeat the current year’s core course, with a different instructor, to fulfill the renewal requirements of the first and/or second year’s core course. The broker will be given credit for the repeated core course for renewal purposes, but will not be given any continuing education credit for the repeated core course.

(3) Effective January 1, 2020, paragraph (2) above will be replaced by the following:

If a broker failed to complete the core course required for the first and/or second years of their license renewal cycle, the broker will be required to successfully complete the 30-hour broker basics course. The broker will be given credit for renewal purposes, but will not be given any continuing education credit.

[F.] G. Commission-approved pre-licensing courses may count for up to 10 credit hours toward continuing education credit for license renewal. The commission approved 30 hour post-licensing course may also count for up to 10 education category credit hours toward continuing education.

[G.] H. No commission-approved continuing education course in either the education or the training category will be granted more than 10 credit hours of continuing education credit.

[H.] I. Continuing education credit hours cannot be carried forward to the next licensing cycle.

[I.] J. The same continuing education course cannot be repeated for credit in a three-year renewal cycle.

[J.] K. Brokers may receive up to a maximum of four approved education course credit hours during each licensing cycle for attending commission meetings, rule hearings, disciplinary hearings, or meetings of the education advisory committee (EAC).

[K.] L. Approved instructors may use up to 10 credit hours during each three-year licensing cycle toward fulfillment of their own continuing education requirements for teaching commission approved courses. Teaching documentation must be provided by the course sponsor.

[L.] M. Classes required by the commission for disciplinary reasons cannot be counted towards the continuing education requirements for license renewal.

N. Pursuant to 16.61.3.14 NMAC, all brokers who intend to offer property management services for others, shall as a condition of offering property management services complete the education requirements as listed below:

(1) Completion of the commission approved course, Uniform Owner-Resident Relations Act, or a commission approved equivalent property management related course, prior to offering property management services, and every subsequent three year licensing cycle.

(2) As a condition of offering property management services, in addition to the course requirement in subsection A above, associate brokers shall complete a minimum of six hours of approved continuing education courses in property management selected from the commission’s most current approved course catalogue during each three-year licensing cycle.

(3) Qualifying brokers who offer or intend to offer property management services for others, shall as a condition of offering such services, in addition to the course requirement in subsection A above, complete a minimum of 12 hours of approved continuing education courses in property management selected from the commission’s most current approved course catalogue, each three-year licensing cycle.

(4) While qualifying brokers are already subject to the meeting attendance requirements for license renewal under Subsection C of 16.61.3.13 NMAC, associate brokers who offer or intend to offer property management services shall also be subject to the same meeting attendance requirements namely, the attendance at one commission meeting, rule hearing, or disciplinary hearing for at least three hours, or until the commission goes into executive session, or the hearing/meeting ends, whichever comes first. Attendance may be live meeting/hearing or by live or recorded distance broadcast, but must be documented by signing into and out of the meeting/hearing. In the event of broker hardship, approved by the commission, the real estate commission may authorize an equivalent to the attendance of a commission meeting either by an online download, attendance at any approved equivalent, or by other approved participation.

[1-1-2000; 16.61.13.8 NMAC - Rn & A, 16 NMAC 61.13.8, 1-1-2002; A, 1-1-2006; A, 1-1-2007; A, 12-31-2008; A, 1-1-2012; A, 1-1-2017; A, 1-1-2019]