What duties do New Mexico licensees owe to all buyers and sellers?

In New Mexico, licensees owe specific duties to all buyers and sellers that center around being honest, exercising reasonable care, and maintaining ethical conduct throughout the transaction process. This principle is foundational to the practice of real estate as it helps build trust and fosters a professional environment.

Honesty ensures that licensees provide accurate and truthful information to all parties involved in a real estate transaction. This affects everything from property disclosures to the representation of market conditions. Reasonable care involves acting with competence and professionalism, taking the necessary steps to fulfill obligations and protect clients' interests without unnecessary risks. Ethical conduct encompasses the adherence to standards set forth by the New Mexico Real Estate Commission as well as broader ethical guidelines in real estate practices.

This combination of attributes aims to protect consumers, promote fair dealings, and uphold the integrity of the real estate profession. Other options do not capture the full breadth of responsibilities that licensees must uphold towards all parties in a transaction. For instance, unconditional trust and complete transparency may not always be feasible or required, as confidentiality and loyalty vary based on agency representation. Similarly, strict adherence to agency laws applies primarily in specific contexts rather than to all transactions with buyers and sellers, and full representation may not be relevant if the licensee is serving as a facilitator