Dual Agency Disclosure & Consent — New Mexico Edition Template

Dual agency — one brokerage (or one agent) representing both buyer and seller in the same transaction — is the most heavily regulated conflict of interest in residential real estate. A handful of states ban it outright; the rest permit it only with the informed written consent of both parties, obtained after meaningful disclosure of what the parties are giving up. Get the consent wrong and the consequences stack fast: license discipline, commission forfeiture, and rescission or damages claims grounded in breach of fiduciary duty. Courts have long treated undisclosed dual agency as a fiduciary breach that can void the broker's right to any commission.

This 4-page Informed Consent form does the disclosure properly rather than minimally. It explains in plain language what agency representation normally includes (undivided loyalty, full disclosure, advocacy on price and terms); exactly which duties are limited in dual agency (the agent cannot advocate for either side on price, cannot disclose one party's willingness to pay more or accept less, cannot share confidential negotiating positions); what duties remain intact (honesty, disclosure of material property facts, accounting, confidentiality); and the designated agency alternative where the brokerage appoints separate agents for each party, where state law permits. Both buyer and seller sign separate acknowledgment and consent blocks, with transaction-specific identification and timing language confirming consent was obtained before or at the point dual agency arose.

The 50-state notes summarize the landscape: consent-based regimes (e.g., New York's RPL § 443 disclosure form with dual agency consent), designated agency states, transaction-brokerage states that replace agency entirely, and the states where dual agency is prohibited. This template supplements — and in states with mandatory statutory forms, accompanies — the state-prescribed disclosure. Not a substitute for your state's required form where one exists.

About this New Mexico Edition: New Mexico licenses only associate brokers and qualifying brokers, so every form names the brokerage (acting through its qualifying broker) as the contracting party and routes all compensation through the qualifying broker, consistent with the Real Estate License Law (NMSA 1978 § 61-29-1 et seq.) and the NMREC rules at 16.61 NMAC. The brokerage-relationship forms are built around 16.61.19 NMAC: transaction broker is the default, seller/buyer agency arises only by written agreement after a written Broker Duties disclosure, and dual agency requires prior written consent of both parties — hence the "Dual Agency Disclosure & Consent" title and the removal of the master template's designated-agency alternative. Because New Mexico has no statutory seller-disclosure form, the condition disclosure is drafted as a voluntary actual-knowledge statement anchored to the broker's 16.61.19 NMAC duty to disclose adverse material facts, with New Mexico-specific sections on wells, septic, acequia/water rights, flat roofs, and HOA/tax-levy attachments. Electronic execution cites the New Mexico UETA (NMSA 1978 § 14-16-1 et seq.); the statute of frauds, broker-lien absence, and community-property spousal signatures are phrased generally.