Laws

License Required? Yes. New Mexico statutes define a broker as someone who carries out real estate services for payment, including managing properties on behalf of others. As a result, property managers are considered real estate brokers and must have a license to conduct their business legally (§§ 61-29-1 & 61-29-2(A)(3)(b)).

Exceptions – A license is not required for the following (§§ 61-29-2(A)(15) & 61-29-2(C)):

• The management of a homeowner’s association or condominium
• The property owner
• The property owner’s employees
• The employees of a broker acting on the owner’s behalf

Verify a Manager – hnmrldlpi.my.site.com