BASIC LICENSEE DUTIES
(1) Honesty and reasonable care, as set forth in the provisions of this section.
(2) Compliance with local, state, and federal fair housing and anti-discrimination laws, the New Mexico
Real Estate License Law and the Real Estate Commission Rules and Regulations, and other applicable
local, state, and federal laws and regulations.
(3) Performance of any and all oral or written agreements made with the Licensee's Customer or Client.
(4) Assistance to the Licensees Customer or Client in completing the Transaction, unless otherwise
agreed to in writing by the Customer or Client, including:
A. Presentation of all offers or counter-offers in a timely manner;
B. Assistance in complying with the terms and conditions of the contract and with the closing of the
If the Licensee in a Transaction is not providing the service, advice or assistance described in paragraphs
4 A and B, the Customer or Client must agree in writing that the Licensee is not expected to provide such
service, advice or assistance, and the Licensee shall disclose such agreement in writing to the other
Licensees involved in the Transaction.
(5) Acknowledgment by the Licensee that there may be matters related to the Transaction that are outside
the Licensee's knowledge or expertise and that the Licensee will suggest that the Customer or Client seek
expert advice on these matters.
(6) Prompt accounting for all monies or property received by the Licensee.
(7) Prior to the time the Licensee generates or presents any written document that has the potential to
become an Express Written Agreement, written disclosure of (a) any written Brokerage Relationship the
Licensee has with any other Parties to the Transaction and/or (b) any material interest or relationship of a
business, personal, or family nature that the Licensee has in the Transaction.
(8) Disclosure of any adverse material facts actually known by the Licensee about the property or the
Transaction, or about the financial ability of the Parties to the Transaction to complete the Transaction.
Adverse material facts do not include data from a sex offender registry or the existence or group homes.
(9) Maintenance of any confidential information learned in the course of any prior Agency relationship
unless the disclosure is with the former Client's consent or is required by law.
(10) Unless otherwise authorized in writing, a Licensee shall not disclose to their Customer or Client
during the transaction that their seller client or customer has previously indicated they will accept a sales
price less than the asking or listed price of a property; that their buyer client or customer has previously
indicated they will pay a sales price greater than the price submitted in a written offer; the motivation of
any party for selling or buying property; that their seller client or customer or their buyer client or
customer will agree to financing terms other than those offered; or any other information requested in
writing by the Licensee's Customer or Client to remain confidential, unless disclosure is required by law.
I also provide the following services to a Buyer:
(1) As a Realtor I have access to every home currently on the market, in the Metro Albuquerque Area, listed in the Multiple Listing System (MLS).
I will provide the Buyer with a list of homes that fit the Buyer's search criteria and individual printouts on each home that the Buyer requests.
(2) I will bring the Buyer to the homes that the Buyer wishes to personally visit.
(3) I will assist the Buyer in the preparation of all documents needed to purchase a property and give the Buyer copies of all documents.
(4) I will present the offer to purchase to the Seller's Listing Agent.
(5) I will assist the Buyer in any counter offer paperwork, if needed, and present the documents to the Seller's Listing Agent.
(6) I will keep the Buyer informed and up to date on the progress of the transaction.
(7) I will be present during any inspections that are to be performed at the property to be purchased.
(8) I will inform the Buyer of the results of the inspections at the property and forward to the Buyer copies of the inspectors reports.
(9) I will be present during the Buyer's walk through of the property just prior to closing.
(10) I will be present at the property closing to assist the Buyer with any documents that are needed to close the transaction.
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Albuquerque Real Estate and Homes: Patrick Montrose: Coldwell Banker
Copyright 1996-2007 Patrick Montrose all rights reserved.