It isn’t as if real estate is the only profession that enjoys a good dose of its own dedicated lingo. I think you find that in every industry, sport, or hobby. My daughter recently picked up horseback riding and I’m pretty sure she’s speaking a foreign language when she tries to discuss riding technique with me. But, I thought it might be helpful (or at least of passing interest) to talk about a couple of terms that are fairly basic to real estate in the State of New Mexico.

Yep. Realtor. Lots of people know this one. But, did you know that the word “Realtor” is a trademarked label belonging to anyone who is an active member of the National Association of Realtors (NAR)? While it would be unusual to hear a home inspector or a mortgage broker or an appraiser call themselves a Realtor, they actually could, as long as they’re an active member of NAR. So, while real estate brokers (or agents, we’ll get to that in a minute) can be Realtors, not all Realtors are real estate brokers. If you want to learn a little more about Realtors, you can find some bits and pieces here. Or, you can go to the NAR website here if you’d like to look up a list of Realtors in your area.

Here’s the thing. In New Mexico, we don’t call ourselves agents. If you think that’s a bit odd, don’t worry. You’re not alone. Here in Los Alamos we get a lot of folks moving here from other parts of the country. They’re used to working with real estate agents. And that’s what they’re looking for when they call. Now, if you want to get super technical, there are ways to create agency here in New Mexico. But if you go to the NM Real Estate Commission’s website, they aren’t going to talk to you about agents. They’re going to talk to you about brokers.

And THAT is where people from outside the area scratch their heads. In other states, a real estate broker is a step up from an agent. The broker’s license requires more education, a few more tests, and a lot more responsibility. Never fear. The NM State Board has come up with a way to differentiate between what other states might call an agent and a broker.

Here in New Mexico we are called Associate Brokers (or just brokers) and Qualifying Brokers. The simple explanation is that an Associate Broker is licensed to do just about everything you need to buy or sell property here in New Mexico. I’m an Associate Broker. We go through 90 hours of pre-licensure education that includes not only real estate basics, but also an ethics course. We need 36 hours of continuing education every year to keep our license current. And we have to know a heck of a lot about the local, state, and even national laws that apply to our job.

Now. The Qualifying Broker has that same background, but they also have an administrative section to their educational requirements. From a reciprocity standpoint, the Qualifying Broker is equal to a Real Estate Broker in most other states. But to be honest, New Mexico is pretty strict about their real estate licensure laws. Our state only recognizes official reciprocity with Massachusetts, Louisiana, and Georgia. That means if an “agent” from another state wants to move to NM or just to add a NM State Real Estate License to their resume so they can do business here, they have to go through a minimum of 30 hours of education before they take the test to get their license. And the board doesn’t care how long you’ve been handling real estate transactions wherever you come from either. You’ve got to provide them with your educational background and your license history to apply for your NM State License.

What does all of THAT mean?

Well, it means that we real estate brokers take our job pretty seriously. It means we’re more than capable of handling all of the intricacies of buying or selling property in the Land of Enchantment. Not that any one part of our state is the same as another. Which is why I’m so focused on Los Alamos. This county is unique. Our market isn’t like anywhere else. And that means I’m your Local Real Estate Expert. Give me a call today!