Nm broker - Study guides, Class notes & Summaries

What does not requires a real estate license? : Sale of 99 lots in a subdivision, short term rentals, sale of personally owned property. The Real Estate Commission may not impose? : penalties for Code of Ethics violations The Responsibilities of the Real Estate Commission are? : Enforcing the license law, rules & regulations, refusing a license for cause. The governor of the State of NM does what? : fills vacancies on the Real Estate Commission for unexpired terms. Paying a referral fe...

When acting as a property manager for a Principal, the brokerage relationship is which of the following? : Exclusive agency Every licensee must meet disclosure requirements to any client. Disclosure must include which of the following? : Disclosure of any conflict of interest, description of licensed broker duties, notice of an in-house transaction - all of these Which duties below are owed to an agent client but not owed to the transaction broker's client or Customer? : Loyalty an...

Which of the following requires a real estate license? : Sale of timeshare units The New Mexico real estate commissions may not impose : Penalties for code of ethics violations The responsibilities of New Mexico real estate commissions do not include : Regulating brokerage fees The governor of the state of New Mexico : Fills vacancies in the New Mexico real estate commissions for unexpired terms referral fee to an unlicensed person for information leading to a listing : Is a violation o...

Licensees have how many days to respond to a complaint by the Real Estate Commission? : 10 days The deed has been signed by the grantor : Title is said to pass in New Mexico when.... If a broker has not accounted for a security deposit within the required 30 days, and the tenant files suit, what could happen? : Pay $250 in damages, pay attorney's fees and courts costs, and forfeit the security deposit When the transfer application is signed by the new qualifying broker; and the lice...

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Broker Basics (NM specific) exam with verified solutions