Detailed Answer
Co-owners must work together at every step to select a realtor and sell joint property. Montana law requires a written listing agreement signed by all owners before a broker can market your home (Mont. Code Ann. § 37-51-102).
1. Open Communication and Goal Setting
Begin with a meeting or call to discuss each owner’s priorities: price expectations, sale timeline and marketing preferences. Document agreements in writing to avoid later disputes.
2. Define Selection Criteria
Agree on concrete factors to evaluate realtors, such as:
- Local market expertise
- Average days on market
- Commission rate and fee structure
- Marketing strategy (photography, online listings, open houses)
3. Research and Interview Realtors
Compile at least three candidates. Request references and recent sales data. Ask each realtor for a comparative market analysis (CMA) to gauge their knowledge of your area.
4. Compare Proposals
Lay out interview findings side by side. Highlight differences in commission, marketing budgets and communication style. Rank candidates based on your agreed criteria.
5. Reach Consensus
If opinions differ, revisit your selection criteria. Consider compromise by averaging scores or seeking a tie-breaker vote. Keep records of all discussions and decisions.
6. Execute the Listing Agreement
Once you choose a broker, sign a written listing agreement containing all co-owners’ signatures. Under Montana law, the broker may not accept or market your property without this document (Mont. Code Ann. § 37-51-106).
7. Plan for Dispute Resolution
If you cannot reach agreement, consider mediation or, as a last resort, a partition action in district court (Mont. Code Ann. § 70-17-203). Partition actions can force a sale but may increase costs and extend timelines.
Disclaimer: This article is for informational purposes and is not legal advice. Always consult a licensed attorney for guidance tailored to your situation.
Helpful Hints
- Document every co-owner discussion in writing.
- Use a neutral facilitator if talks stall.
- Verify realtor license status at the Montana Department of Labor & Industry.
- Ask for a written marketing plan before committing.
- Keep communication channels open throughout the sale process.