Choosing who helps you buy a home is a big decision — and in New Mexico, the law spells out exactly what a broker owes you. Here's a clear, no-jargon look at your Broker Duties, the difference between a transaction broker and an agent, and how I practice so you always know where you stand.
Before any paperwork could become a binding agreement, New Mexico brokers must give you a written Broker Duties disclosure. Those duties come in two scopes: some are owed to everyone in the deal, and some are owed specifically to the party a broker is working with. Here's the plain-language version.
These apply to every party — even if the broker isn't representing them.
Additional duties to whoever the broker is directly working with — regardless of the type of relationship.
Your written disclosure also lays out your relationship options. Here's what each one means.
The non-fiduciary relationship created by law: the brokerage provides real estate services without entering an agency relationship. It's New Mexico's standard model — and, as the duties above show, it still comes with real protections.
Non-fiduciary · the standardAn express written agreement in which the brokerage agrees to exclusively represent one party's interests as an agent. This is a fiduciary relationship, used in specific situations.
Fiduciary · by written agreementAn express written agreement that modifies an exclusive-agency arrangement so the brokerage acts as a facilitator rather than an exclusive agent for either party.
By written agreementThat's New Mexico's standard, non-fiduciary relationship — and I use it unless a specific situation calls for an agency relationship, which we'd put in writing. In plain terms: I'm not your legal "agent" by default, but I still owe you the full set of Broker Duties above.
So you can count on me to be honest, careful, and prompt with your offers, to account for your funds, to flag when you should bring in an attorney, inspector, or lender — and to never tell the seller the most you'd be willing to pay. And because I'm an Accredited Buyer's Representative (ABR®), you also get specialized buyer training and experience guiding the whole process. Curious how the credentials stack up? See the 3 key differences between agents.
Your disclosure also makes one thing explicit: broker compensation is fully negotiable. It isn't set by the MLS, by any REALTOR® association, or by law. We'll talk openly about how compensation works in your purchase before you commit to anything.
This is a plain-language summary for educational purposes. The controlling document is New Mexico's official Broker Duties disclosure (NMAR Form 1401), which your broker will provide and review with you. It isn't legal advice — for questions about how the duties apply to your situation, ask your broker or an attorney. New to the process? Start with our first-time homebuyer tips, the homebuyer's toolkit, or learn about your fair-housing rights.
You deserve a clear picture of what your broker owes you and how the relationship works. I'm always happy to walk through your Broker Duties, answer questions, and make sure you feel informed and comfortable every step of the way. No pressure, no obligation.
New Mexico law requires brokers to perform a specific set of Broker Duties and to disclose them in writing before any document could become a binding agreement. Some duties are owed to everyone in the transaction — honesty and reasonable care, following the law (including fair-housing law), honoring written agreements, disclosing conflicts of interest, and disclosing adverse material facts the broker actually knows. Additional duties are owed to the party the broker is directly serving, such as handling offers promptly, accounting for funds, and not revealing that party's negotiating position to the other side. The official document is the NMAR Broker Duties disclosure (NMAR Form 1401).
Yes. New Mexico recognizes three brokerage relationships: a transaction broker, exclusive agency, and dual agency. A transaction broker is the non-fiduciary relationship created by law, where the brokerage provides real estate services without entering an agency relationship. Exclusive agency is an express written agreement to represent one party's interests as an agent. At New Mexico Properties we practice as transaction brokers unless a specific situation calls for an agency relationship, which we would put in writing.
Yes. A transaction broker is non-fiduciary, but still owes you a substantial set of Broker Duties. As your transaction broker I must be honest and use reasonable care, present and respond to offers promptly, account for your money, suggest when you should consult an attorney or other expert, and — importantly — I will not tell the seller the most you would be willing to pay or other information you've asked to keep confidential. You are not without protection; you simply are not in a fiduciary agency relationship unless we set one up in writing.
Yes. The Accredited Buyer's Representative (ABR®) designation reflects specialized training in working with buyers and demonstrated experience representing them. It's about competence and buyer focus, not about whether the relationship is technically agency. Whether I'm working with you as a transaction broker or, in specific situations, under an agency agreement, that buyer-focused expertise shapes how I guide you through the purchase.
Let's talk through how I work, what you're owed, and what your home search looks like — so there are no surprises, only good ones. No pressure, no obligation.