Detailed Answer
When you own property together in New Hampshire, you typically hold title as tenants in common or joint tenants. Each co-owner has an equal right to possess and market the property, but you must agree on key decisions before listing. A successful realtor selection process hinges on clear communication, shared goals and a properly executed listing agreement.
1. Understand Your Co-Ownership Rights
New Hampshire law treats co-owners as peers with equal rights to use and dispose of the property. You must obtain unanimous consent to sell the entire parcel. If one co-owner lists without approval, it can trigger disputes or litigation. See RSA 554 (Co-Ownership): rsa/html/V/554/index.html.
2. Communicate and Define Goals
Schedule a meeting to discuss target sale price, timeline, marketing approach and acceptable commission rates. Document these decisions in writing. Clear expectations reduce conflict and streamline negotiations with brokers.
3. Research and Interview Agents
New Hampshire real estate brokers must be licensed under RSA 331-A: rsa/html/III/331-A/index.html. Interview at least three agents. Ask each for:
- A Comparative Market Analysis (CMA) that supports your price goal.
- A marketing plan detailing online listings, open houses and professional photography.
- References from recent sellers.
4. Negotiate Commission and Terms
Broker commission typically ranges from 5–6% of the sale price but remains negotiable. Confirm which services are included. Ensure the listing agreement explicitly names all co-owners, identifies the property by street address and tax map number, and states the agreed commission and listing period.
5. Execute the Listing Agreement
All co-owners must sign the listing agreement to bind each party and the broker. Missing a signature can void the contract. Keep copies of fully executed agreements and any amendments in a shared folder.
6. Resolve Deadlocks
If co-owners cannot reach agreement, consider mediation or, as a last resort, a partition action under RSA 558: rsa/html/V/558/index.html. Partition forces sale or division of property by court order and can be costly and time-consuming.
Disclaimer: This article provides general information under New Hampshire law and does not constitute legal advice. Consult a qualified attorney for guidance tailored to your situation.
Helpful Hints
- Start discussions early to avoid rushed decisions.
- Document all agreements in writing and keep a shared copy.
- Verify each broker’s NH license status on the Real Estate Commission website.
- Consider splitting marketing costs to incentivize co-owners.
- Use objective data (CMA) to justify price discussions.