The New Mexico Real Estate Commission has voted to approve a measure, opposed by the U.S. Department of Justice, that requires all licensed real estate professionals in the state to perform a specific set of services for their clients – even if a consumer does not want the agent to perform those services. The rule change, which will reportedly take effect within about a month after the commission formally files the rule change, effectively bans certain types of real estate business models such as fee-for-service companies that place properties in a multiple listing service for a flat fee while providing few other services for clients. Some discount real estate brokers opposed the changes. Controversy has surrounded the establishment of so-called minimum-service requirements for rea...
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