Maria is an Associate Broker in New Mexico who has been working with a buyer named Carlos for several weeks. Carlos asks Maria to write an offer on a property listed by a different brokerage. Which statement best describes Maria's agency relationship in this transaction?
Correct Answer
B) Maria is acting as a buyer's agent, representing Carlos as her client with fiduciary duties.
Under New Mexico's Brokerage Relationships in Real Estate Transactions Act, a licensee who has been working with a buyer and is representing that buyer's interests owes fiduciary duties to the buyer as a buyer's agent. The fact that the property is listed by a different brokerage does not change Maria's agency status — she remains the buyer's agent representing Carlos.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
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