Under New Mexico law, which of the following entities can be a licensed broker?

New Mexico law allows various types of entities to hold a real estate broker's license, and the correct answer highlights this inclusion. Individuals, corporations, and limited liability companies (LLCs) can all be licensed brokers, which reflects the flexible nature of the state’s approach to real estate licensing. This allows for a broader range of business structures to operate legally in the real estate market, accommodating both individual entrepreneurs and more complex business entities.

Corporations can provide real estate services while shielding their shareholders from personal liability, whereas LLCs combine elements of both partnerships and corporations, offering flexibility and limited liability protection. This diverse range of entities being eligible for licensing contributes to a more inclusive and dynamic real estate environment in New Mexico.

Conversely, other options are too restrictive. For example, stating that only individuals or just individuals and partnerships limits the scope of who can legally engage in real estate brokerage activities. Moreover, non-profit organizations typically don't engage primarily in real estate transactions, and thus they are not included in the list of entities that can hold a broker's license under New Mexico law. By allowing corporations and LLCs, the state's regulations foster a more robust real estate market.