What You Need to Know to Successfully Handle Complex Divorce Listings
Laurel Starks here, the founder of Divorce Real Estate Institute, and I’m here to give you a tip on handling divorce real estate listings. A common question I get is what do I need to know in order to be able to successfully handle these listings.
Divorce listings have some of the highest fallout rates among any listings that we handle as Realtors. Why? Because there is a lot of complexities involved.
Remember people that are getting divorce have had to deal with a lot of financial strains. There has possibly been items that haven’t been paid for and that even includes the house payment.
You want to make sure you understand what the foreclosure laws are in your state. How does the foreclosure process work in your state? This does not mean you need to be in a down market or that your clients are in a lower income bracket.
I have handled divorce listings in good markets with clients that have a lot of net worth and sometimes they are just not making that house payment for whatever reason.
It’s also important to understand how to handle a short sale. If you get a listing that is a short sale understand how to handle that. You’ll also want to make sure that you know what the anti-deficiency laws are and what are the anti-deficiency ramifications with foreclosures and short sales in your state.
The fourth item you need to understand really well is title issues. It’s not uncommon to see IRS liens and Lis Pendens. A lot of attorneys place Lis Pendens against the property to prevent the property getting sold without the other parties consent.
Finally, you need to be a strong Realtor. You need to have a good marketing plan and know how to negotiate very well. These are some of the most complex listings as Realtors that we can take. You really want to have a good grasp on the fundamentals of real estate before you really dive into this niche.
I hope this helps and if you have a passion for learning more that is what the Divorce Real Estate Institute exists for – to educate Realtors on how to handle these complex listings and show you how you can be an asset to the family law community in your area.
Visit our website DREInstitue.com to learn more!