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CARLSBAD CORNERS CARLSBAD, NM


PRICING & FINANCIAL ANALYSIS

CARLSBAD CORNERS

FINANCIAL ANALYSIS

Carlsbad Corners 2101 S Canal Street Carlsbad, NM 88220

Offering Summary Price Net Operating Income Occupancy Year Built

TBD $353,552 100.0% 1995 94,276 SF

Lot Size

7.19 Acres

PROPERTY DESCRIPTION

Gross Leasable Area

MARKET OVERVIEW

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2015 Vitorino Group

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PRICING & FINANCIAL ANALYSIS

Base Rent - Occupied Space

100%

Base Rent - Lease Up Space GROSS POTENTAL RENT

Current

PSF

$384,103

$4.07

$0

$0.00

$384,103

$4.07

Exp. Reimb.

Expenses

Current

PSF

Real Estate Taxes

$21,874

$0.23

Insurance

$33,265

$0.35

Real Estate Taxes

$38,291

$0.41

Insurance

$13,812

$0.15

CAM

$10,090

$0.11

Trash Removal

$3,588

$0.04

$1,474

$0.02

Parking Lot Restriping

$4,282

$0.05

$63,668

$0.68

Fire Safety

$241

$0.00

$447,771

$4.75

Landscaping Maintenance

$828

$0.01

$0

$0.00

Parking Lot Sweeping

$8,935

$0.09

$447,771

$4.75

Lights Bulbs/Balllasts

$461

$0.00

R&M Bldg. Exterior

$429

$0.00

Total Exp. Reimb. GROSS POTENTIAL INCOME Vacancy Factor (economic)

0.00%

EFFECTIVE GROSS INCOME Expenses

CAM

($21,874)

($0.23)

Bank Service Charges

$253

$0.00

Insurance

($33,265)

($0.35)

Utilities - Water/Sewer

$1,088

$0.01

CAM

($23,408)

($0.25)

Utilities - Electric

$3,303

$0.04

($15,672)

($0.17)

$23,408

$0.25

($94,219)

($1.00)

$15,672

$0.17

$94,219

$1.00

Mgmt. Fee (% of GPI) Total Expenses

NET OPERATING INCOME

3.50%

$353,552

Total CAM Management Fee (% of GPI)

TOTAL EXPENSES

3.50%

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2015 Vitorino Group

MARKET OVERVIEW

Real Estate Taxes

PROPERTY DESCRIPTION

Mgmt. Fee

FINANCIAL ANALYSIS

Income & Expenses

CARLSBAD CORNERS

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RENT ROLL

CARLSBAD CORNERS

Start

End

Annual Rent

PSF

Escalation Date

Sutherland Lumber Co.

53,622

56.9%

4/1/2001

7/31/2021

$144,779

$2.70

8/1/2021

$3.00

1x5

NNN

200

Iron Mountain

28,840

30.6%

1/1/2015

12/31/2017

$132,000

$4.58

-

-

-

BY 2015

A

Dollar General

9,014

9.6%

3/22/2006

1/31/2021

$63,000

$6.99

-

-

-

NN

B

Hot Nails

1,400

1.5%

8/20/2013

9/30/2019

$16,324

$11.66

-

-

-

NNN

C

Dickey's Barbecue Pit

1,400

1.5%

11/1/2016

10/31/2026

$28,000

$20.00

11/1/2021

$22.00

2x5

NNN

Occupied

94,276

100.0%

$384,103

$3.92

0

0.0%

94,276

100.0%

100

Vacant Total

Escalation Options Amount

Lease Type

PROPERTY DESCRIPTION

% of Sq Ft

Tenant

FINANCIAL ANALYSIS

Sq Ft

Suite

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2015 Vitorino Group

MARKET OVERVIEW

NOTES: 1. Insurance capped at $.20/sf; Tenant pays for their own trash & water; Tenant does not reimburse Mgmt. Fee, but does reimburse 10% of CAM Admin. Fee 2. 5% annual cap on controllable expenses above 2015 base year stop; Tenant pays for their own trash & water 3. Tenant pays fixed amounts for both Taxes and Insurance, but does not reimburse CAM or Mgmt. Fee expense 4. Tenant reimburses both full Mgmt. Fee and 10% of CAM Admin. Fee 5. Dickey’s Barbecue Pit’s Lease Commencement is estimated

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TENANT INFORMATION

CARLSBAD CORNERS

Tenant Summary Tenant Name Ownership Ticker Symbol Exchange

Dollar General Public DG NYSE 26.34 Billion

Sales Volume

20.72 Billion

Number of Locations Years In Business Headquarters

PROPERTY DESCRIPTION

Market Cap

Website

12,198+ 76 Years Goodlettsville, TN www.dollargeneral.com

Tenant Summary Tenant Name Ownership

Sutherland Lumber Company Private

Number of Locations Years In Business Headquarters Website

MARKET OVERVIEW

Based in Kansas City, Missouri, Sutherlands is one of the largest privately-owned home improvement center chains in the United States. They currently operate 49 home improvement stores spread across 14 states. Their local building supply and hardware stores range in size from small lumberyards to large 140,000+ square foot warehouse stores. The combined buying power of Sutherlands is passed directly to their customers.

FINANCIAL ANALYSIS

Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States. Dollar General’s successful prototype makes shopping a truly hassle-free experience, by designing small neighborhood stores that offer the most popular brands. In recent years, the chain has started constructing more stand-alone stores, typically in areas not served by another general-merchandise retailer. Dollar General offers both name brand and generic merchandise in the same store, often on the same shelf. Although it has the word “dollar” in the name, Dollar General is not a dollar store. Most of its products are priced at more than $1.00. It competes in the dollar store format with national chains Family Dollar and Dollar Tree, regional chains such as Fred’s in the southeast, and numerous independently owned stores.

49 99 Years Kansas City, MO www.sutherlands.com

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2015 Vitorino Group

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TENANT INFORMATION

CARLSBAD CORNERS

Tenant Summary Tenant Name Ownership Ticker Symbol Exchange Market Cap Number of Locations Years In Business Headquarters

Iron Mountain Inc Public IRM NYSE 9.95 Billion 3.1 Billion

PROPERTY DESCRIPTION

Sales Volume

Website

1,026+ 65 Years Boston, MA www.ironmountain.com

Tenant Summary Tenant Name Ownership Number of Locations Years In Business Headquarters Website

MARKET OVERVIEW

Dickey’s Barbecue Pit is a family-owned American barbecue restaurant chain based in Dallas, Texas. Travis Dickey established the restaurant in 1941. Roland Dickey Jr. serves as Dickey’s Barbecue Pit’s CEO. The restaurant is the largest barbecue franchise in the United States.

FINANCIAL ANALYSIS

Iron Mountain Incorporated (NYSE: IRM) is the global leader for storage and information management services. Trusted by more than 220,000 organizations around the world, Iron Mountain boasts a real estate network of more than 80 million square feet across more than 1,350 facilities in 45 countries dedicated to protecting and preserving what matters most for its customers. Iron Mountain’s solutions portfolio includes records management, data management, document management, data centers, art storage and logistics and secure shredding, helping organizations to lower storage costs, comply with regulations, recover from disaster, and better use their information. Founded in 1951, Iron Mountain stores and protects billions of information assets, including critical business documents, electronic information, medical data and cultural and historical artifacts.

Dickey’s Barbecue Pit Private 530+ 74 Years Dallas, TX www.dickeys.com

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2015 Vitorino Group

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INVESTMENT HIGHLIGHTS

CARLSBAD CORNERS

FINANCIAL ANALYSIS

• Credit Tenants Occupy Majority of the Project

• Existing Rents are Comparable Property

Well

Below

Market

for

PROPERTY DESCRIPTION

• Value-Add Opportunity by Raising Existing Rents

• Located in the Prime Retail Corridor of Carlsbad, with Close Proximity to Many National and Regional Retailers

• Trade Area Extends 75+ Miles

• Over 34,000 People Within a 5-Mile Radius MARKET OVERVIEW

• Traffic Counts Exceed 18,000 Vehicles Per Day Along S Canal Street

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2015 Vitorino Group

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AERIAL MAP

CARLSBAD CORNERS

FINANCIAL ANALYSIS PROPERTY DESCRIPTION MARKET OVERVIEW

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2015 Vitorino Group

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LOCAL MAP

CARLSBAD CORNERS

FINANCIAL ANALYSIS PROPERTY DESCRIPTION MARKET OVERVIEW

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2015 Vitorino Group

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REGIONAL MAP

CARLSBAD CORNERS

FINANCIAL ANALYSIS PROPERTY DESCRIPTION MARKET OVERVIEW

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2015 Vitorino Group

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MARKET SUMMARY

CARLSBAD CORNERS

FINANCIAL ANALYSIS PROPERTY DESCRIPTION

CARLSBAD, NM Carlsbad is the county seat of Eddy County, New Mexico. Carlsbad is centered at the intersection of U.S. Routes 62/180 and 285, and is the principal city of the Carlsbad-Artesia Micropolitan Statistical Area. Located in the Southeastern part of New Mexico, Carlsbad straddles the Pecos River and sits at the eastern edge of the Guadalupe Mountains.

The economy of the Carlsbad area is based primarily on the mineral extraction sector; the city overlies the rich oil- and gas- producing formations of the Permian Basin and produces

MARKET OVERVIEW

Carlsbad is a hub for potash mining, petroleum production, and tourism. Carlsbad Caverns National Park is located 18 mi (29 km) southwest of the city and Guadalupe Mountains National Park lies 40 miles southwest across the Texas border; the Lincoln National Forest is to the northwest of town.

more potash than any other location in the United States. Carlsbad is home to the DOE’s Carlsbad Field Office which operates the Waste Isolation Pilot Plant to safely store the transuranic nuclear wastes from the nation’s defense sites. Tourism is a major factor with Carlsbad Caverns National Park, Guadalupe Mountains National Park, Lincoln National Forest, the Living Desert Zoo and Gardens State Park. Potash deposits were found underground across the Permian Basin in 1925. Two companies, Mosaic Potash Carlsbad (formerly IMC Global) and Intrepid Potash (formerly Mississippi Chemical Corporation), operate mining operations east of Carlsbad. Both mines employ a significant number of workers from surrounding communities; each company also contributes to local charities

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2015 Vitorino Group

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DEMOGRAPHIC SUMMARY

CARLSBAD CORNERS

Geography: 10 miles

FINANCIAL ANALYSIS

Population The current year population in your selected geography is 36,475. The population has changed by 8.9% since 2000. It is estimated that the population in your area will be 38,818 five years from now, which represents a change of 6.4% from the current year. The current population is 49.7% male and 50.3% female. The median age of the population in your area is 39.4, compare this to the Entire US average which is 37.3.

Households There are currently 14,174 households in your selected geography. The number of households has changed by 9.3% since 2000. It is estimated that the number of households in your area will be 15,104 five years from now, which represents a change of 6.6% from the current year. The average household size in your area is 2.53 persons.

Income PROPERTY DESCRIPTION

Currently, the median household income for your selected geography is $48,158, compare this to the Entire US average which is currently $54,149. It is estimated that the median household income in your area will be $51,630 five years from now, which represents a change of 7.2% from the current year. The current year per capita income in your area is $24,611, compare this to the Entire US average, which is $29,472. The current year average household income in your area is $62,368, compare this to the Entire US average which is $77,008.

Race and Ethnicity The current year racial makeup of your selected area is as follows: 76.2% White, 2.0% Black, 1.6% Native American and 1.1% Asian/Pacific Islander. Compare these to Entire US averages which are: 71.60% White, 12.70% Black, 0.18% Native American and 5.02% Asian/Pacific Islander. People of Hispanic origin are counted independently of race. People of Hispanic origin make up 44.7% of the current year population in your selected area. Compare this to the Entire US average of 17.9%.

MARKET OVERVIEW

Housing In 2016, there were 10,057 owner occupied housing units in your area and there were 4,117 renter occupied housing units in your area. Median home value in the area is $122,784, compared to a median home value of $198,891 for the U.S.

Employment In 2016, there are 16,095 employees in your selected area, this is also known as the daytime population. Currently, 47.8% of employees are employed in white-collar occupations in this geography, and 33.2% are employed in blue-collar occupations. In 2015, unemployment in this area is 7.9%. Demographic data Š 2015 esri This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2015 Vitorino Group

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DEMOGRAPHIC STATISTICS

CARLSBAD CORNERS 3 Mile

5 Miles

10 Miles

Income

1 Mile

3 Miles

5 Miles

2000 Population

22,140

31,178

32,939

$ 0 - $14,999

18.2%

16.1%

15.8%

2010 Population

22,556

31,652

33,435

$ 15,000 - $24,999

13.5%

11.7%

11.5%

2016 Population

24,194

34,558

36,475

$ 25,000 - $34,999

11.0%

10.0%

9.9%

2021 Population

25,538

36,773

38,818

$ 35,000 - $49,999

14.8%

14.1%

14.2%

$ 50,000 - $74,999

19.1%

18.8%

19.0%

$ 75,000 - $99,999

11.7%

11.5%

11.7%

$100,000 - $149,999

8.9%

11.6%

11.8%

1.8%

4.0%

4.0%

3 Mile

5 Miles

10 Miles

$200,000 +

0.9%

2.2%

2.2%

2000 Households

8,567

7,857

11,394

2016 Median Household Income

$41,117

$47,355

$48,158

2010 Households

8,720

8,459

12,351

2016 Per Capita Income

$20,325

$24,482

$24,611

2016 Households

9,340

8,635

12,638

2016 Average Household Income

$51,984

$61,936

$62,368

2021 Households

9,855

8,625

12,710

2.55

2.52

2.53

2016 Daytime Population

10,560

15,116

16,095

2010 Owner Occupied Housing Units

63.0%

66.2%

66.8%

2010 Renter Occupied Housing Units

27.6%

24.9%

24.3%

2010 Vacant

9.4%

8.8%

8.9%

2016 Owner Occupied Housing Units

60.6%

64.5%

65.1%

2016 Renter Occupied Housing Units

30.2%

27.3%

26.7%

9.2%

8.2%

8.2%

2021 Owner Occupied Housing Units

60.5%

64.5%

65.1%

2021 Renter Occupied Housing Units

30.7%

27.7%

27.0%

8.8%

7.9%

7.9%

2016 Average Household Size

2016 Vacant

Traffic Counts

MARKET OVERVIEW

2021 Vacant

PROPERTY DESCRIPTION

$150,000 - $199,999 Households

FINANCIAL ANALYSIS

Population

18,778

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2015 Vitorino Group

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CONFIDENTIALITY AGREEMENT The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Vitorino Group and it should not be made available to any other person or entity without the written consent of Vitorino Group. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to Vitorino Group. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Vitorino Group has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, Vitorino Group has not verified, and will not verify, any of the information contained herein, nor has Vitorino Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE VITORINO GROUP AGENT FOR MORE DETAILS.


Net Lease Disclaimer Vitorino Group hereby advises all prospective purchasers of Net Leased property as follows: The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, the Vitorino Group has not and will not verify any of this information, nor has the Vitorino Group conducted any investigation regarding these matters. The Vitorino Group makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided. As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. The Vitorino Group expressly denies any obligation to conduct a due diligence examination of this Property for Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs. Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property. By accepting this Marketing Brochure you agree to release The Vitorino Group and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property.


Approved by the Texas Real Estate Commission for Voluntary Use Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

B

Information About Brokerage Services

efore working with a real estate broker, you should know that the duties of a broker depend on whom the broker represents. If you are a prospective seller or landlord (owner) or a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner’s agent. A broker who acts as a subagent represents the owner in cooperation with the listing broker. A broker who acts as a buyer’s agent represents the buyer. A broker may act as an intermediary between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without representing you. A broker is obligated by law to treat you honestly. IF THE BROKER REPRESENTS THE OWNER: The broker becomes the owner’s agent by entering into an agreement with the owner, usually through a written - listing agreement, or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owner’s agent anything the buyer would not want the owner to know because an owner’s agent must disclose to the owner any material information known to the agent. IF THE BROKER REPRESENTS THE BUYER: The broker becomes the buyer’s agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer’s agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyer’s agent anything the owner would not want the buyer to know because a buyer’s agent must disclose to the buyer any material information known to the agent. IF THE BROKER ACTS AS AN INTERMEDIARY: A broker may act as an intermediary between the parties if the broker complies with The Texas Real Estate License Act. The broker must obtain the written consent of each party to the transaction to act as an

intermediary. The written consent must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate License Act. A broker who acts as an intermediary in a transaction: (1) shall treat all parties honestly; (2) may not disclose that the owner will accept a price less than the asking price unless authorized in writing to do so by the owner; (3) may not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; and (4) may not disclose any confidential information or any information that a party specifically instructs the broker in writing not to disclose unless authorized in writing to disclose the information or required to do so by The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property. With the parties’ consent, a broker acting as an intermediary between the parties may appoint a person who is licensed under The Texas Real Estate License Act and associated with the broker to communicate with and carry out instructions of one party and another person who is licensed under that Act and associated with the broker to communicate with and carry out instructions of the other party. If you choose to have a broker represent you, you should enter into a written agreement with the broker that clearly establishes the broker’s obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker, you should resolve those questions before proceeding.

Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.


exclusively listed 469.844.8880 | VITORINOGROUP.COM

Carlsbad Corners - Carlsbad, NM  
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