In the 2025 legislative session, House Bill 426 sought to give residents of manufactured housing communities, formerly known as mobile home parks, the right to collectively purchase the land they call home (when the owner wants to sell it). Similar versions of this bill have been introduced since 2010 to no avail.
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Conflicts of interest arise when a real estate broker’s interests (or the interests of someone closely related to the broker) don’t line up with the interests of the buyer or seller who hires the broker.
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If it wasn’t news enough that real estate brokers in NM are generally not agents with a fiduciary duty toward their clients, it may be even more shocking for buyers to hear that as of 2024, they are on the hook for their broker’s commission
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One of the first things I explained to her after reviewing all the documents, was that her “agent” was not her agent, he was a transaction broker.
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