Co-Owner Realtor Selection Guide for Joint Property Sales in Louisiana

Disclaimer: This article provides general information about Louisiana law and is not legal advice. Consult a qualified attorney for advice on your specific situation.

Detailed Answer

When two or more parties own property in indivision in Louisiana, each co-owner holds an undivided share of the whole. To sell the property, all co-owners must agree on the choice of a real estate agent and the terms of the listing agreement. Louisiana law requires any contract relating to the sale of immovable property to be in writing and signed by all parties whose interests are affected (La. Civ. Code art. 2453).

There are two primary methods to coordinate realtor selection:

Joint Listing Agreement: Each co-owner signs the same written listing agreement with the chosen broker. This ensures everyone consents to the commission rate, marketing plan, and the agent’s authority to bind the sellers when negotiating offers.
Power of Attorney (Mandate): Co-owners grant a limited power of attorney to one co-owner or a trusted third party (the mandatary) to sign the listing agreement and handle sales negotiations on behalf of all. Under a mandate contract, the mandatary acts for the principals in accordance with their instructions (La. Civ. Code arts. 2988–2995).

If co-owners cannot agree, Louisiana law provides for partition actions, which may result in sale or division of the property by court order (La. Civ. Code arts. 780–786).

Step-by-Step Process

Set Common Goals: Meet to define desired sale price, timeline, and priorities such as marketing reach or virtual tours.
Research Agents: Look for Louisiana-licensed realtors with experience in your parish and property type. Check credentials on the Louisiana Real Estate Commission website.
Conduct Interviews: Ask each candidate about their commission, marketing strategy, average days on market, and professional references.
Compare Proposals: Evaluate listing agreements line by line—commission percentage, contract term, cancellation clauses, and advertising budgets.
Formalize Agreement: Either sign a joint listing agreement or execute a power of attorney designating one person to bind all co-owners to the listing contract. Ensure the document clearly describes the mandatary’s authority.

Helpful Hints

Keep communication open: Schedule regular updates and decision-making sessions.
Define dispute resolution: Include a clause requiring mediation before filing any court action.
Review commission splits: Some brokers permit co-broker arrangements or tiered commission structures.
Confirm termination rights: Ensure you can end the listing if the agent underperforms.
Document everything: Save emails, meeting notes, and signed agreements for future reference.