Detailed Answer
When you and a co-owner decide to sell a jointly owned property in Oregon, you both hold equal decision-making power unless your deed states otherwise. Coordinating realtor selection involves open communication, clear criteria, and understanding Oregon’s real estate rules.
Follow these steps:
- Discuss Goals and Timeline: Agree on your sale objectives—price range, marketing timeline and desired closing date.
- Define Selection Criteria: List qualities you value in a realtor, such as local market expertise, marketing plan and communication style.
- Research and Interview Candidates: Identify agents with solid track records. Interview at least three to compare strategies and fees.
- Understand Dual Agency Rules: Oregon law allows dual agency only if both owners and the buyer consent in writing. Review ORS 696.190 for details on agency relationships.
- Execute a Written Listing Agreement: Oregon law requires any real estate brokerage contract to be in writing and signed by all parties of interest. Ensure all co-owners sign the listing agreement per ORS 696.245. This document establishes commission, term and agent duties.
If you and your co-owner cannot reach agreement, Oregon law permits partition actions, which let a court divide or sell property without mutual consent. See ORS 105.705 for partition procedures.
Helpful Hints
- Document all decisions in writing to prevent future misunderstandings.
- Use objective metrics (sales histories, client reviews, marketing samples) when evaluating realtors.
- Clarify commission splits and any additional fees upfront.
- Consider mediation or a neutral third party if disagreements arise.
- Review the listing agreement clause by clause before signing.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for advice on your specific situation.