Guide to Coordinating Realtor Selection with a Co-Owner for a Joint Property Sale

Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for guidance on your specific situation.

Detailed Answer

1. Review Your Co-Ownership Agreement

Start by examining any written co-ownership or partnership agreement. It may spell out how you and your co-owner must choose a real estate professional. If no agreement exists, Arkansas law treats tenants in common and joint tenants alike and requires consensus for decisions affecting the entire property.

2. Understand Arkansas Listing Agreement Requirements

Arkansas law mandates that any listing agreement be in writing and signed by all owners. See Ark. Code Ann. § 17-42-312 (listing agreements must specify price, term, and commission). Review prospective brokerage agreements carefully for term length, commission rate, and exclusivity.

Hyperlink: Ark. Code Ann. § 17-42-312

3. Joint Realtor Interviews and Selection

Compile a short list of local, licensed realtors with experience in your property’s neighborhood. Verify credentials at the Arkansas Real Estate Commission.
Schedule joint interviews. Use a standardized questionnaire: marketing plan, pricing strategy, commission, and communication style.
Compare proposals side by side. Rank each according to agreed criteria: online exposure, open houses, negotiation skill.
Agree on a “tie-break” method—flip a coin or appoint a mediator—to avoid deadlock.

4. Drafting the Joint Listing Agreement

Once you agree on a realtor, ensure both co-owners sign the same listing agreement. Confirm key terms:

Listing price and term
Commission structure
Termination clauses
Dual agency disclosures (required if the broker represents both buyer and seller)

Failure to secure all signatures could render the contract unenforceable.

5. Handling Disagreements and Partition Actions

If you cannot agree on a realtor or listing terms, Arkansas law allows a co-owner to file a court action for partition under Ark. Code Ann. § 18-12-101. A judge may order a sale or physical division, but partition sales often yield lower net proceeds.

Hyperlink: Ark. Code Ann. § 18-12-101

Helpful Hints

Discuss your goals early. Establish budget, timeline, and price expectations together.
Vet realtors online: read reviews and check disciplinary records.
Consider a short-term, renewable listing agreement to allow flexibility.
Document all decisions in writing: meeting notes, emails, text confirmations.
If disputes arise, seek mediation before costly partition litigation.
Keep communication respectful and solution-focused to protect your relationship and investment.