Disclaimer: This article is for informational purposes only and does not constitute legal advice. Always consult a licensed attorney about your specific situation.
Detailed Answer
- Understand co-ownership rights: In Iowa, each co-owner holds an undivided interest in the property. You both have equal rights to the sale process. If you can’t agree on a realtor, you may seek a partition action under Iowa Code §617.1, which allows a court to order sale or division.
- Define shared goals and timeline: Discuss your target sale price, preferred closing date and minimum acceptable net proceeds. Clear goals help you choose a realtor whose experience aligns with your needs.
- Research and shortlist realtors: Compare at least three real estate agents by reviewing online profiles, local sales records and client reviews. Verify licensing at the Iowa Real Estate Commission’s verification portal: https://plb.iowa.gov/license-verification.
- Interview candidates together: Ask each realtor about their marketing plan, listing price analysis, commission rate and communication style. Note how they handle co-owner conflicts and ensure they commit to keeping both parties informed.
- Review and sign a written listing agreement: Iowa law requires realtors to use a written contract under Iowa Code §543B.21. Confirm the term, commission rate and exclusivity period. Both co-owners must sign to bind the agreement.
- Resolve disagreements early: If you can’t reach consensus on realtor selection, consider mediation or a professional facilitator. As a last resort, file for partition under Iowa Code §617.1 to have a court appoint a receiver or order sale.
Helpful Hints
- Create a joint checklist of realtor qualifications before you start interviews.
- Request each realtor’s recent comparable sales (CMAs) in your area.
- Compare marketing budgets, staging services and open-house plans.
- Clarify who will handle showing schedules and key control.
- Document all decisions in writing and keep copies of emails.
- If emotions run high, enlist a neutral third party to facilitate discussions.