Real Estate Team Agreement — New Mexico Edition Template

Teams are the dominant growth structure in modern residential real estate — and the most common source of intra-brokerage disputes. Who owns the leads? What's the split on a team-generated deal versus an agent's self-generated deal? What happens to the pipeline when a team member leaves? Without a written team agreement, those answers default to memory and goodwill, and both run out quickly when a $30,000 commission is on the table.

This 8-page Real Estate Team Agreement documents the full team structure: team identity and the team leader's authority (operating under the supervising broker — many states now regulate team names and advertising, requiring the brokerage name to appear and prohibiting misleading team names that suggest an independent brokerage); roles and duties of team members (buyer's agents, listing partners, showing assistants, transaction coordinators); compensation splits by deal source (team-generated vs. self-generated) and by role, with cap and bonus structures; lead ownership and database rights — the single most litigated team issue — with explicit language that team-provided leads and the CRM database remain team property; expense allocation (marketing, ISA, software); conduct standards and fair housing compliance; non-solicitation of team clients and staff after departure (with notes on state restrictive covenant enforceability, which varies widely); departure mechanics including pending-deal splits and listing reassignment; and dispute escalation through the supervising broker.

Everything in a team agreement sits underneath license law: commissions must still flow through the broker, and the broker's supervisory duties are non-delegable. The 50-state notes flag team registration and advertising rules states have adopted, plus restrictive covenant limits. Use this template as the framework and have brokerage counsel finalize it.

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.