Monday, September 14, 2020


Technical Stuff You Need to Know

About New Mexico Real Estate Transactions 

The Meaning of a “Transaction Broker”


If you’re going to buy or sell real estate in New Mexico, you should understand the term “transaction broker.”

New Mexico law defines a “transaction broker” as a licensee who provides real estate services without entering an agency relationship. The absence of agency confuses some investors familiar with real estate deals elsewhere.

General agency law provides that an agent can bind the principal. Restated, a buyer or seller who has an agency relationship with a broker may have authorized the broker to act on behalf of the buyer or seller. Not so a transaction broker. A transaction broker cannot legally obligate a buyer, seller, lessor, or lessee in New Mexico .  

Does the absence of an agency relationship mean that “buyer beware” is alive and well in New Mexico?

No. New Mexico brokers must comply with mandatory Broker Duties required by the New Mexico Real Estate Commission.

Before the first document in a transaction is signed, New Mexico brokers are required to provide the customer or client Broker Duties cover sheets related to the document. In fact, most commercial brokers begin explaining Broker Duties as soon contact is made between a broker and customer or client. Significantly, Broker Duties are owed to all -- repeat, all -- participants in a transaction, not merely to the person the broker is dealing with.

Want a sample of the New Mexico Broker Duties? Ask and I’ll send you one.   

Thursday, July 23, 2020


Headline on July 13, 2020 in, a national commercial real estate online newsletter: "Forget Big Cities as Firms, Investors Set Sights on Smaller Markets."

New Mexico is your ideal smaller market.

Albuquerque, Santa Fe, Taos and Las Cruces, cities aligned along the original Rio Grande trade route, offer extraordinary opportunities to commercial investment real estate investors. And the surge has begun. New Mexico industrial, office and multi-family costs per square foot, cap rates, internal rates of return -- indeed all the conventional financial investment metrics -- are attracting perceptive investors. Did I mention vacant land? Lots of it. 

What else explains New Mexico's attraction? Call me at 505-220-0460. As a bonus I'll suggest some great fly-fishing areas. 

  Technical Stuff You Need to Know About New Mexico Real Estate Transactions  The Meaning of a “Transaction Broker”   If you’re goin...