BrokerageIndustry News

New Mexico considers minimum-service rule change

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The New Mexico Real Estate Commission will meet this week to consider a controversial real estate regulation opposed by U.S. Justice Department antitrust officials. Members of the state's Real Estate Commission had delayed their consideration of the rule change, which would require all real estate brokers in the state to provide a specified level of services to consumers, after receiving a letter from the Justice Department in November. The meeting will be held on Wednesday and Thursday this week in the Las Cruces, N.M., real estate brokerage office of David Steinborn, president of the Real Estate Commission -- which is about 230 miles away from the commission's office in Albuquerque, N.M. The meeting data and location were not publicized on the commission's Web site as of Friday morning, but is now listed at the site. The Justice Department and Federal Trade Commission have opposed laws and regulations in several states that have sought to heighten the level of services that real es...