2023 Edition: The Top Five Mistakes Realtors Make in Divorce Listings
Ilumni Institute
We help Realtors build a successful business in Divorce Real Estate.
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Mistake #1: Take a Listing with Just One Spouse
- Listing the property can be a violation of the court order.
- The listing agreement can be rendered void.
- In most states, you only need one owner's signature to list a property, but not in a divorce listing.
- Even if only one spouse is on title, the house is usually ruled marital or community property.
- Having a listing agreement with one party and relying on the other's cooperation is wishful thinking.
Mistake #2: Compromise Neutrality
- Providing commission kickbacks, facilitating a straw buyer, withholding material information are extreme examples.
- To ensure neutrality, communicate equally with both parties and avoid bias.
- Rotate who you call first so both spouses feel equally important.
- Breaching neutrality can create roadblocks preventing the sale from moving forward.
Mistake #3: Failure to Understand the Power of the Court
- During an active divorce case, the court can dictate many things.
- It can order parties to sign paperwork, remove one party from the residence, etc.
- Obtaining these orders is the lawyers' job, but in extreme situations, people can be evicted.
- Realtors must understand the different playbook required for divorce listings.