|
Prior to the time a
Licensee generates or presents any written
document that has the potential to become an
Express Written agreement, the Licensee shall
disclose in writing to a prospective buyer,
seller, landlord or tenant, the following list
of Basic Licensee Duties that are owed to all
Customers and Clients by all Licensees:
(A)
Honesty and reasonable care; as set forth in
the provisions of this section;
(B) 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;
(C) Performance of any and all oral or
written agreements made with the Licensee's
Customer or Client;
(D) Assistance to the Licensee's Customer or
Client in completing the Transaction, unless
otherwise agreed to in writing by the Customer
or Client, including:
(1) Presentation
of all offers or counter-offers in a timely
manner;
(2) Assistance
in complying with the terms and conditions of
the contract and with the closing of the
Transaction.
If the licensee in a Transaction is not
providing the service, advice, or assistance
described in paragraphs (D)(1) and (2), 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.
(E) Acknowledgement 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;
(F) Prompt accounting for all monies or
property received by the Licensee;
(G) 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;
(H) 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
of group homes;
(I) 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;
(J) 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
or customer has previously indicated they will
pay a sales price greater than the price
submitted in a written offer; the motivation
of their client or customer 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.
|