Disclaimer: This article is for educational purposes and does not constitute legal advice. For guidance on your particular situation, consult a qualified Kansas attorney.
Detailed Answer
When co-owners decide to sell jointly owned real estate in Kansas, selecting a single realtor requires clear communication, written agreements, and an understanding of state law. Kansas courts treat joint owners as tenants in common unless the deed states otherwise. Each owner has an equal right to market the property, but listing with multiple agents can muddy marketing efforts and dilute offers.
Follow these key steps:
- Open a structured dialogue. Set a meeting (in person or virtual) to discuss goals. Agree on target sale price, preferred marketing strategies, and desired commission rate.
- Review and choose listing agreement type. Kansas law requires listing agreements in writing (K.S.A. 58-3065). Decide on an exclusive right to sell or exclusive agency agreement. Each form offers different levels of cooperation and commission obligations.
- Select a licensed Kansas realtor. Verify credentials on the Kansas Real Estate Commission website (krec.ks.gov). Discuss experience with joint transactions, marketing budget, and proposed timeline.
- Draft a co-owner listing addendum. Create a short side agreement clarifying each owner’s duties—such as decision deadlines, cost-sharing for repairs or staging, and procedures for signing counteroffers.
- Agree on dispute-resolution methods. Include mediation or arbitration clauses to handle disagreements. If co-owners cannot agree on listing terms or fail to select a realtor, one owner may file a partition action under K.S.A. 60-2201. Partition forces sale but often incurs higher legal costs.
By following a structured process, co-owners can avoid delays and streamline the sale. A clear written plan ensures each party understands obligations—minimizing conflict and maximizing market exposure.
Helpful Hints
- Document every decision in writing. Email summaries after meetings work well.
- Set firm internal deadlines for selecting the agent and approving the listing agreement.
- Consider joint legal counsel or a real estate attorney for drafting owner addenda.
- Pick an agent experienced with tenancies in common or joint listings.
- Include a buy-out clause for one owner who wishes to exit before sale.
- Plan for shared marketing expenses and divide them equally or per ownership share.