New Mexico Real Estate Practice Exam

Question: 1 / 400

What is NOT a requirement for a listing broker in New Mexico regarding a seller's disclosure?

Seller's real estate license

List of brokerage duties

Disclosure of family relationship

Details of the seller's motivation

In New Mexico, a listing broker has specific responsibilities when it comes to a seller's disclosure. Among these responsibilities, the broker must provide a list of brokerage duties to the seller, ensuring that the seller understands the services being provided and the nature of the relationship. A disclosure of any family relationship is also a key requirement, as it is vital for maintaining transparency and avoiding potential conflicts of interest.

On the other hand, details of the seller's motivation in selling the property are not mandated as part of the disclosure requirements. While understanding a seller's motivation might assist the broker in marketing the property, there is no legal obligation for the seller to disclose this information to the broker or potential buyers. Therefore, a seller’s motivation does not fall under the formal requirements that a listing broker must adhere to in the state.

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