Disclaimer: This article is for educational purposes only and does not constitute legal advice.
Detailed Answer
1. Understand Alaska Co-Ownership Basics
In Alaska, two or more people who own property together are typically tenants in common or joint tenants. Each co-owner has an equal right to market the property, but you must agree on key decisions, including choosing a realtor. If you cannot agree, a co-owner may seek a court-ordered partition (AS 09.45.020).
2. Establish a Realtor Selection Process
Hold a planning meeting. Agree on:
- Desired sale timeline and price range
- Commission limits
- Marketing strategies (e.g., photography, online listings)
- Interview questions and evaluation criteria
3. Research and Interview Multiple Realtors
Identify at least three licensed real estate brokers. Verify licenses with the Alaska Real Estate Commission. Key questions:
- Experience selling similar Alaska properties
- Average days on market
- Marketing budget and platforms
- References from past sellers
Compare written proposals side by side.
4. Formalize the Choice in Writing
Alaska law requires written brokerage agreements that specify the duration, duties, and commission (AS 34.70.070). Each co-owner should sign the same agreement to bind all parties. Include your agreed selection criteria and decision date.
5. Address Disputes Proactively
If you reach an impasse, consider mediation before litigation. A neutral mediator can facilitate consensus. As a last resort, any co-owner may file a partition action under AS 09.45.010, forcing sale or division of proceeds.
Helpful Hints
- Communicate openly: schedule regular check-ins and document decisions.
- Use a shared spreadsheet to rank realtor proposals on price, commission, and timeline.
- Agree on a deadline: avoid indefinite negotiations.
- Keep all co-owners in the loop: avoid surprises and mistrust.
- Consider a simple co-ownership agreement outlining decision rules at the outset.