What is the penalty for practicing real estate without a license in New Mexico?

In New Mexico, practicing real estate without a proper license is treated seriously and can result in significant legal consequences. The correct answer highlights that individuals engaging in real estate activities without a license are subject to fines and potential criminal charges. This reflects the state's commitment to regulating the real estate industry to ensure consumers are protected and professionals operate within the confines of the law.

Fines are monetary penalties imposed on individuals who violate licensing laws, while criminal charges may range from misdemeanors to felonies depending on the nature and frequency of the unlicensed practice. This enforcement mechanism is designed not only to penalize those who operate unlawfully but also to deter others from engaging in similar behavior.

The other options provided do not accurately reflect the serious nature of unlicensed real estate activity in New Mexico. For example, warnings without fines would not sufficiently deter unlicensed practice, and mandatory courses alone do not equate to enforcing the law against unlicensed individuals. Additionally, claiming that no penalties are enforced undermines the regulatory framework established to protect both real estate consumers and the integrity of the profession.