New Mexico License Law
In New Mexico, a real estate broker facilitating a transaction between two parties without representing either party is called:
AA listing broker
BA transaction broker or neutral facilitator✓ Correct
CA dual agent
DAn exclusive buyer's agent
Explanation
A transaction broker (also called a neutral facilitator or non-agent) assists both parties in completing a real estate transaction without representing either party as their agent. They owe limited duties — honesty, disclosure of material facts, skill, and care — but not fiduciary loyalty.
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Key Terms to Know
Buyer's Agent
A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
State-Specific Concepts
License Law
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