New Mexico License Law
Which of the following best describes a 'pocket listing' and its risks in New Mexico?
AA listing where no marketing is done; it may violate MLS rules and the seller's interests✓ Correct
BA listing sold below market value to a related party
CA listing held in trust by the qualifying broker
DA listing for agricultural properties only
Explanation
A pocket listing is marketed without being placed on the MLS. This may reduce competition and sale price, potentially violating the agent's fiduciary duty to the seller. MLS rules may also require timely submission of listings.
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