New Mexico License Law
A New Mexico licensee who receives compensation for referring a client to another real estate licensee out-of-state must:
ABe licensed in the other state to receive compensation
BBe licensed in New Mexico (even if not licensed in the other state) to receive a referral fee for real estate referrals✓ Correct
CGet NMREC approval for each referral
DNot accept any referral fees—they are always prohibited
Explanation
A New Mexico licensee can receive a referral fee from an out-of-state broker for referring a client, even without an out-of-state license, as long as they are licensed in New Mexico and don't perform real estate activities in the other state.
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Key Terms to Know
State-Specific Concepts
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