Under which condition is a property manager NOT required to have a New Mexico broker license?

A property manager is not required to have a New Mexico broker license when they are a direct employee of the property owner. This means that if an individual is hired by the owner to manage their property, they can operate under the owner's license and are not engaging in real estate transactions on their own behalf, which is what typically requires a broker's license.

This position as a direct employee typically includes oversight of property management tasks, such as maintenance and tenant relations, without needing to engage in leasing negotiations or any sales activities independently. Their role is thus limited to the management of the owner's property, rather than acting as a separate entity that would necessitate licensure.

In contrast, other scenarios such as signing leases or managing multiple properties for different owners typically require professional licensure to ensure that the manager complies with real estate laws and regulations, as they are acting in a capacity that involves real estate transactions or providing services for multiple clients.