Agency
In New Mexico, when a listing broker and selling broker are from different firms, the selling broker is generally considered:
AA subagent of the listing broker
BA co-listing agent
CA buyer's agent or transaction broker depending on written agreements✓ Correct
DNot bound by any fiduciary duties
Explanation
With modern buyer agency practices, the selling (cooperating) broker typically represents the buyer as a buyer's agent or acts as a transaction broker, not as a subagent of the listing broker (as was historically the case).
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