Under New Mexico's Brokerage Relationships in Real Estate Transactions Act, which of the following is NOT a recognized type of brokerage relationship that a New Mexico licensee may establish with a client or customer?
Correct Answer
C) Subagency
Subagency is NOT a recognized brokerage relationship type under New Mexico's Brokerage Relationships in Real Estate Transactions Act (NMSA 1978, §§ 61-29-1 through 61-29-22). New Mexico law recognizes seller's agency, buyer's agency, dual agency, and transaction brokerage as the permissible relationship types. Subagency — where a cooperating broker becomes an agent of the listing broker's principal — is not part of New Mexico's statutory framework for brokerage relationships.
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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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