agency

Broker Duties (New Mexico)

New Mexico starts not with agency but with a list of broker duties (16.61.19 NMAC) that every broker owes every party regardless of relationship. Agency, which is fiduciary, arises only by an express written agreement. Additional duties apply to the party a broker directly serves, whether as transaction broker or agent, including timely presentation of offers, active help closing, and keeping a seller's bottom line and buyer's ceiling confidential unless authorized in writing.