New Mexico · 16.61.21 NMACDo transaction coordinators need a license in New Mexico? What the unlicensed assistant rule allows

The New Mexico Real Estate Commission's rule on unlicensed assistants, 16.61.21 NMAC, lists what they may and may not do. Permitted: obtaining information from public records, the MLS or third parties such as surveyors, banks, appraisers and title companies under the responsible broker's written instructions; picking up and delivering paperwork to other brokers, and to sellers or buyers after a contract is signed if the responsible broker has reviewed it – without answering questions or giving opinions; ordering repairs as directed; receiving and depositing funds and keeping books under supervision; placing signs; and typing documents, including purchase and listing agreements, that the responsible broker prepared (16.61.21.8 NMAC). Prohibited: preparing legal documents such as listing and sales contracts; interpreting documents or giving opinions or advice; obtaining personal or property information from a client or customer – except when acting as a coordinator directed by the responsible broker, gathering and following up on information and the status of the transaction after a contract has been executed; delivering lender, title or other third-party financial documents to clients for signature; attending a closing without the responsible broker; holding oneself out as a broker; and telephone solicitation of buyers, sellers or listings (16.61.21.9 NMAC). So an unlicensed TC in New Mexico can run the post-contract file under a broker's direction, but can't prepare or explain the contract or go to closing alone.