NM Real Estate case studies
NM Real Estate · Put your knowledge to work in context.
The New Mexico Real Estate Broker license is the credential issued by the New Mexico Real Estate Commission, a body created by state law in 1959 and charged with enforcing the Real Estate License Law and the Commission's rules. The Commission's stated mission is to protect the public and enhance the professional competence of real estate brokers, and its responsibilities include issuance, renewal, and transfer of broker licenses; establishing and enforcing pre-licensing and continuing education requirements; certifying education providers; investigating and adjudicating complaints; and educating consumers and brokers about the license law and rules. The NM Real Estate case studies are 5 cases and about 4,145 words.
1Nine Showings, No Signature: Agency Status and the Confidential Ceiling
Rosa is an associate broker at Mesa Verde Realty. Her qualifying broker's office holds an exclusive-right-to-sell listing on 12 Luna Court for the Delgados at a 6% fee, with 3% offered to a cooperating broker.
796 words, about 4 min2The $405,000 Appraisal on a $420,000 Contract
Dana is pre-approved for a conventional 30-year fixed loan at 6.875% with a maximum 85% loan-to-value. She is under contract on a 420,000 house with 15% down.
709 words, about 4 min3The Wife Who Isn't on Title, the Acequia, and the Well Test
Mateo has listed 4.2 irrigated acres in Corrales for $685,000. A 1998 deed from his mother conveys title to "Mateo, a single man," although he married Ana in 2003 and they have lived on the property and paid the mortgage from joint funds ever since.
829 words, about 4 min4The Qualifying Broker's Two-Week Audit Notice
Jenna is the qualifying broker of High Desert Homes LLC. Her unlicensed assistant, Cody, hosts open houses alone, runs social media ads under the team name "The Desert Duo" with no brokerage name, and tells a buyer at an open house that the seller "will take 15,000 less than list." Jenna also learns that Cody accepted a 2,500 earnest-money check payable to himself and deposited it in his personal account last Friday, and that one of Jenna's associate brokers paid a $750 "referral fee" to a licensed home inspector who holds no real estate license.
811 words, about 4 min5The Unpermitted Addition, the Water Line, and the Threat to Pull the Listing
The Cordovas' 1,900-square-foot Pueblo-style home in Los Lunas has been listed for 94 days. Their 2019 addition - a 480-square-foot master suite - was built without a permit; county assessor records still show 1,900 square feet and three bedrooms, and the bath count is wrong too.
1,000 words, about 5 min