New Mexico License Law
In New Mexico, a licensed qualifying broker who wants to leave the brokerage and open their own competing firm must:
AGive 60 days' notice and can take all clients with them
BFollow contractual obligations in their broker agreement and cannot solicit clients from their former brokerage while still employed✓ Correct
CObtain NMREC special permission
DTransfer all pending listings to their new firm automatically
Explanation
When a qualifying broker leaves to start a competing firm, they must honor their contractual obligations (non-solicitation periods, ownership of listing agreements) and cannot take listings or clients in violation of their agreement.
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