New Mexico Administrative Code
Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING
Chapter 61 - REAL ESTATE BROKERS
Part 27 - FOREIGN BROKERS
Section 16.61.27.8 - FOREIGN BROKERS
Current through Register Vol. 35, No. 18, September 24, 2024
A foreign broker may act in the capacity of a qualifying or associate broker with respect to commercial real estate located in New Mexico; provided that prior to performing any of the real estate activities of a qualifying or associate broker, the foreign broker enters into a transaction-specific written agreement with a New Mexico qualifying broker that includes, at a minimum:
A. a description of the parties, the commercial real estate and any additional information necessary to identify the specific transaction governed by the agreement;
B. the terms of compensation between the foreign broker and the New Mexico qualifying broker;
C. the effective date and definitive termination date of the agreement; and
D. a statement that the foreign broker agrees to: