Agency
In New Mexico, what is the purpose of the Broker Disclosure Form?
ATo disclose the broker's commission rate
BTo inform parties of the different types of brokerage relationships and the duties owed in each✓ Correct
CTo disclose the property's defects
DTo establish the listing price
Explanation
The New Mexico Broker Disclosure Form explains the different brokerage relationship options (seller's agent, buyer's agent, transaction broker) and the duties each owes, so parties can make an informed choice.
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