Agency
In New Mexico, a buyer who is working with a broker but has not signed a representation agreement has which type of relationship?
AFull buyer agency by default
BThe broker acts as a transaction broker (facilitator) unless a written agreement designates otherwise✓ Correct
CThe broker represents the seller by default
DNo agency relationship is possible without a license
Explanation
Without a written buyer representation agreement, a New Mexico broker typically acts as a transaction broker—facilitating the transaction for the buyer without providing full fiduciary representation.
Related New Mexico Agency Questions
- In New Mexico, when a seller's agent receives a written offer, they should present it to the seller:
- Which of the following best describes a buyer's agent in New Mexico?
- The 'procuring cause' doctrine in New Mexico helps determine which broker is entitled to a commission by identifying:
- When a New Mexico buyer's agent writes a purchase offer, who is the agent legally representing?
- Informed consent for dual agency in New Mexico must be:
- Which fiduciary duty requires an agent to follow all lawful instructions from their principal?
- Which of the following best describes a 'net listing' in New Mexico?
- A New Mexico listing broker receives an offer below the asking price. The broker must:
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