Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult a qualified Washington real estate attorney for guidance specific to your situation.
Detailed Answer
When two or more co-owners decide to sell jointly owned real estate in Washington, selecting the right real estate broker requires clear communication, documentation and agreement. While no specific Washington statute governs how co-owners choose an agent, two key statutes guide the process:
- Brokerage Agreement Requirements: Under RCW 18.86.070, any listing agreement must be in writing and signed by the seller(s). It must specify the duration, duties of the broker, compensation and any exclusivity provisions. (RCW 18.86.070)
- Partition Action: If co-owners cannot agree on a broker or terms of sale, any co-owner can file for partition in Superior Court under RCW 7.60.020. The court may order sale or division of the property. (RCW 7.60.020)
Follow these steps to coordinate selection:
- Define Ownership Interests: Confirm whether you hold title as tenants in common or joint tenants. Each interest holder must sign the listing agreement.
- Set Shared Goals: Agree on sale timeline, price expectations and commission budget before reaching out to brokers. Create a one-page summary of these criteria to guide discussions.
- Research and Interview Brokers: Each co-owner researches at least three Washington-licensed real estate brokers. Compare experience in your county, marketing plans and proposed fee structures.
- Evaluate Proposals Together: Share written proposals and score each broker against agreed criteria. Discuss strengths and concerns openly.
- Reach Consensus or Majority Decision: Aim for unanimous consent. If unanimous agreement proves impossible, establish a majority-vote rule and memorialize it in writing.
- Sign a Written Listing Agreement: Ensure the final listing agreement complies with RCW 18.86.070. All co-owners must review and sign the document before marketing begins.
- Document Internal Agreements: Create a short memorandum of understanding outlining decision-making procedures for pricing adjustments, repair negotiations and seller contributions.
By structuring the decision-making process and documenting each step, co-owners minimize conflict and fulfill statutory requirements for a valid listing. If negotiations break down, discuss mediation or consider a partition action under RCW 7.60.
Helpful Hints
- Hold joint meetings (in person or via video) to keep everyone aligned.
- Use a shared spreadsheet to compare broker proposals side by side.
- Verify broker licenses at the Washington State Department of Licensing: dol.wa.gov.
- Include deadlines for responding to proposals to maintain momentum.
- Consider a short mutual mediation clause in your memorandum of understanding.
- Review comparable listings and recent sales data on platforms like Zillow or Redfin to set realistic benchmarks.
- Ask each broker for client references and recent sales of similar jointly owned properties.