Agency
Under New Mexico's brokerage relationship rules, a licensee acting as a transaction broker represents:
AThe seller only
BThe buyer only
CNeither party exclusively✓ Correct
DBoth parties as a dual agent
Explanation
A transaction broker does not represent either party exclusively but facilitates the transaction by assisting both parties, owing duties of honesty, diligence, and material fact disclosure.
Related New Mexico Agency Questions
- In New Mexico, an agent's duty of 'obedience' to their principal means:
- In New Mexico, an agent who receives an earnest money check from a buyer must NOT:
- Which of the following best describes a buyer's agent in New Mexico?
- Which of the following duties does a New Mexico transaction broker owe to both parties?
- In New Mexico, what is the agent's duty of 'diligence' in representing a seller?
- In New Mexico, a transaction broker owes which of the following duties to both parties?
- Which fiduciary duty requires an agent to follow all lawful instructions from their principal?
- In New Mexico, a subagent is a licensee who:
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