NM Broker basics unit 2 quiz-brokerage relationships Questions and Answers

NM Broker basics unit 2 quiz-brokerage relationships Questions and Answers When acting as a property manager for a Principal, the brokerage relationship is which of the following? - Correct Answer ️️ -Exclusive agency Every licensee must meet disclosure requirements to any client. Disclosure must include which of the following? - Correct Answer ️️ -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? - Correct Answer ️️ -Loyalty and obedience Which of the following would a New Mexico listing broker not be required to disclose to a potential buyer? - Correct Answer ️️ -A sellers motivation for selling the property Broker duties must be disclosed - Correct Answer ️️ -In writing to prospective customer or client. A buyers agent must disclose to a seller facts concerning a buyers - Correct Answer ️️ -Financial in ability to perform the terms of the contract. Any transaction broker owes the buyer a duty to - Correct Answer ️️ -Disclose conditions that adversely affect the property