What type of offers are New Mexico brokers not required to submit to sellers?

New Mexico brokers are not required to submit oral offers to sellers. This is because oral offers can lack the formalities and legal protections associated with written offers. Written offers provide a clear, documented expression of intention from the buyer and serve to protect both parties in a real estate transaction. By requiring submissions to be in writing, brokers ensure that all terms are explicitly stated and that there is a tangible record that can be referred to in the event of a dispute or misunderstanding.

In contrast, written offers, counter offers, and full-price offers are all formalized and recognized within real estate transactions, providing necessary clarity and protection for all parties involved. This distinction highlights the professionalism and standards expected in real estate practices, emphasizing the significance of documentation in the buying and selling processes.