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Your Relationship With iNest Realty

As a potential buyer of real estate I understand and agree that iNest Realty and the iNest Realty Broker is providing real estate services to me in the capacity of a transaction Broker.

New Mexico law requires the following Basic License Duties; Disclosure.

BASIC LICENSEE DUTIES; DISCLOSURE: 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:

1. honesty and reasonable care as set forth in the provisions of this section;
2. 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;
3. performance of any and all oral or written agreements made with the licensee's customer or client;
4. 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 the transaction is not providing the service, advice or assistance described in Paragraphs (1) and (2) of Subsection D of 16.61.19.8 NMAC, 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;
5. 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;
6. prompt accounting for all monies or property received by the licensee;
7. 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:
   1. any written brokerage relationship the licensee has with any other parties to the transaction and/or;
   2. any material interest or relationship of a business, personal, or family nature that the licensee has in the transaction;
8. 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;
9. 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;
10. 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 client or customer has previously indicated they will pay a 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.

BROKERAGE RELATIONSHIPS: Brokerages working with consumers either as customers or clients may do so through a variety of brokerage relationships. These relationships include but are not limited to an exclusive agency relationship, a dual agency relationship, or a transaction broker relationship. For all regulated real estate transactions, a buyer, seller, landlord or tenant may enter into an express written agreement to become a client of a brokerage without creating an agency relationship, and no agency duties will be imposed.

1. Exclusive agency: an express written agreement between a person and a brokerage wherein the brokerage agrees to exclusively represent as an agent the interests of the person in a real estate transaction. Such agreements include buyer agency, seller agency, designated agency, and subagency agreements.
2. Dual agency: an express written agreement that modifies existing exclusive agency agreements to provide that the brokerage agrees to act as a facilitator in a real estate transaction rather than as an exclusive agent for either party to the transaction.
3. Transaction broker: a brokerage that provides real estate services without entering into an agency relationship.

DUAL AGENCY RELATIONSHIP:

1. Dual agency occurs when:
   1. a licensee is agent for both a seller client and a buyer client in the same transaction;
   2. a licensee is agent for either a seller client or a buyer client, and the agent's qualifying broker is agent for the other client in the transaction; and,
   3. in a transaction where a buyer client and a seller client are each served by different licensees in an agency relationship supervised by the same qualifying broker, and the qualifying broker does not choose the designated agency option, both the licensees and the qualifying broker are dual agents in the transaction.
2. In all situations, a dual agent shall act in the capacity of a facilitator rather than as an exclusive agent of either party to the transaction.
3. Prior to writing or presenting offers, a dual agent shall obtain written authority from the buyer client and the seller client in the form of a separate dual agency agreement.
4. Information obtained by a licensee prior to the time that written authority for dual agency was granted shall not be disclosed to the other party unless required by law or regulations or permitted by the client who originally disclosed the confidential information.