Agency
An exclusive right-to-sell listing in New Mexico means:
AOnly the seller can sell the property
BThe listing broker earns a commission regardless of who sells the property during the listing term✓ Correct
CThe broker can sell the property without the seller's consent
DOnly buyers represented by the listing broker may make offers
Explanation
An exclusive right-to-sell listing guarantees the broker a commission if the property sells during the listing period—whether the broker, another agent, or even the seller finds the buyer.
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Key Terms to Know
Listing Agreement
A contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Math Concepts
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