Detailed Answer
When two or more people co-own real estate in Georgia—often as tenants in common—they must agree on key steps to sell the property. Coordinating realtor selection helps avoid delays, disputes, and extra costs.
1. Understand Co-Ownership Rights
Under Georgia law, co-owners share equal rights to market and sell the property. Neither party can unilaterally hire a real estate agent without potential breach of fiduciary duties. If co-owners can’t agree, one party may file a partition action under Georgia Code § 44-6-161 (Justia), forcing a court-supervised sale.
2. Start With Open Communication
- Schedule a meeting to discuss goals, timing, and pricing expectations.
- Agree on a budget for marketing, staging, and agent commissions.
- Put key decisions in writing to reduce misunderstandings.
3. Evaluate Potential Realtors
- Research agents licensed by the Georgia Real Estate Commission.
- Compare recent sales that mirror your property’s style, location, and price range.
- Interview at least three agents together—ask about their marketing plan, commission rate, and communication style.
- Check online reviews and request client references.
4. Reach Agreement and Sign a Listing Contract
Once you select an agent, co-owners must sign the listing agreement jointly. The listing contract should specify:
- Listing price and term of the contract.
- Commission percentage and how it’s split if co-owners pay separately.
- Marketing services (online, print, open houses).
- Who makes final decisions on offers and counteroffers.
5. Resolve Disputes Early
If co-owners disagree on realtor selection or listing terms, consider mediation or neutral third-party facilitation. Mediation helps preserve relationships and avoid court. If mediation fails, the partition statute (O.C.G.A. § 44-6-161) provides a legal pathway to force sale, though at additional cost.
Helpful Hints
- Document every decision in writing—even informal agreements.
- Use email or a shared drive to track communications and documents.
- Schedule regular check-ins to discuss updates on showings and offers.
- Consider hiring a real estate attorney to review the listing agreement.
- Be clear about split costs for repairs, staging, and closing fees.
- Keep personal relationships separate from transaction details.
Disclaimer: This article provides general information about Georgia real estate law. It does not constitute legal advice. Consult a qualified attorney for guidance on your specific situation.