A seller of a property may choose to appoint an exclusive broker to sell the property by signing and executing New Mexico Exclusive Right to Sell Agreement. This document entitles the real estate agent to act solely on behalf of the seller during the term specified in it. In addition, the document grants a protection period to the agent to guard vested monetary interests. Together the seller and the agent must review this document thoroughly to understand terms, conditions, and provisions. The seller must sign each page of this contract agreement in acceptance. In addition, both must understand the significance of various declarations made in this legal contract pertaining to IRS, Agriculture Foreign Investment Disclosure Act, Lead-Based Paint Disclosure, Foreign Investment and Real Property Act, New Mexico Human Rights Act, and applicable Federal Housing Laws.
Directions for Filling New Mexico Exclusive Right to Sell Agreement
- The seller must sign on the bottom of each page of the agreement.
- Enter broker’s name and make a selection of the type of broker’s interest.
- Select if the seller is a real estate broker in New Mexico.
- Select if the seller is engaged in any other listing agreement.
- The seller must sign after entering the date and time on the next line.
- Provide information in the next portion if a seller is a broker. Enter firm and broker’s print name, signature, date, and time.
- Enter seller’s legal name under Exclusive Services.
- Enter the date and time of the beginning and termination of the agreement.
- Select property type and enter the property address along with the legal description of the property.
- Provide information about the exhibit describing the metes and bounds of the property.
- Enter the listing price in words and figure.
- As a seller, please authorize the broker as required by approving in subsections A through I under the section Seller’s Authorization.
- Enter number of days permissible for sale of the property after the term of this contract to specify protection period.
- Please specify broker’s authorization for Buyer’s Agent, Transaction Broker, and Other if any.
- Select seller’s association pertaining to FIRPTA.
- Select seller’s association pertaining to AFIDA.
- Use section 20 to provide other information or terms and conditions if any.
- Select if Agency Addendum is enclosed with the contract.
- Provide information about listing broker like firm name, print name of the listing broker, signature, address, phone and fax number, and email address.
- The seller must sign, enter date, time, print name, address, home phone number along with business and other phone numbers, and fax number on the respective lines.
- Provide information like date, seller’s name, broker’s name, property address, legal description of the property, particulars of exhibit describing property metes and bounds, and designated agency if any on the respective lines to complete agency addendum. Both the seller and the broker must sign the addendum after entering the date and time to complete the preparation of the Exclusive Right to Sell Agreement.
