What Divorce Attorneys and Mediators Want From Your Realtor in New Jersey

Divorce attorneys and mediators want three things from the realtor: a neutral market value they can rely on, numbers they can build a settlement around, and a sale that follows the agreement or court order without creating new problems. When the realtor delivers those, the house stops being the thing that holds the case up.

I'm Dennis Mark Interdonato with The Dennis Mark Group at Keller Williams Realty Ocean Living, and I'm a Master CDRE®. I've been appointed by a judge to sell a marital home. Here's what the professionals on your case need from the person selling your house.

Why does the realtor matter to the attorneys at all?

Because the home is often one of the biggest assets in the case, and the numbers attached to it ripple through everything else. New Jersey's equitable distribution law lists the factors a court considers in dividing property, including "the present value of the property," "the tax consequences of the proposed distribution to each party," and "the debts and liabilities of the parties" (N.J.S.A. 2A:34-23.1).

The court's Case Information Statement, the financial form filed in contested cases, asks for each piece of real property, how it's titled, when it was bought, its value and the date of that value. Its instructions say values should come from actual appraisals or statements where possible, and estimates should be clearly marked as estimates. Those numbers have to come from somewhere real.

What do attorneys and mediators need from a realtor?

1. A neutral, documented market evaluation. Comparable sales, adjustments and a date, in one report that goes to both sides. If the attorneys order a formal appraisal, I give the appraiser the property details and recent sales.
2. A net-proceeds estimate. The likely price, minus the mortgage payoffs, the costs of sale and New Jersey's realty transfer fee, which the seller pays.
3. A realistic timeline. How long prep, the listing period, New Jersey's three-day attorney review and the contract-to-closing period are likely to take. More on that in how long a divorce home sale takes.
4. Equal communication, in writing. Both owners and, when they want it, both attorneys get the same update at the same time. That builds a clear record if anyone needs one later.
5. Respect for the agreement or order. If it sets the price, the deadline or how offers are approved, I follow it.
6. Staying in my lane. I don't give legal advice, I don't say how the equity should be divided, and I don't take sides.
7. A clean closing. Before closing, your attorneys tell the closing agent in writing how the net proceeds are to be paid out or held, the way your settlement or order says.

Where does the realtor fit in New Jersey's settlement process?

New Jersey builds in settlement steps before a judge decides money issues. According to NJ Courts, contested divorce cases are reviewed by an Early Settlement Panel of two experienced divorce attorneys, and couples who still have financial disputes can be sent to economic mediation, where the first two hours are free. Each county has a coordinator for its panel.

For homeowners here, that runs through the Family Part at the Monmouth County Courthouse in Freehold, or the Family Division at the Ocean County Justice Complex in Toms River. A current market value and a net sheet in hand before those sessions give everyone something concrete to settle around. Ask your attorney when the numbers would help most. You can start with the home valuation tool and refine from there.

What does it look like when it goes right?

A judge appointed me to list and sell a marital home in Monmouth County. The two owners weren't allowed to speak to each other, and one of them worked to stall the sale all the way to the township's final inspection.

I kept the process neutral, kept the court and both attorneys informed at every step, and got the home to the closing table within five months of my appointment. The judge and the attorneys didn't know me before that case. The way I see it: "Sometimes the wins don't come from the clients. They come from doing the right thing and getting it done, as appointed."

What should a realtor never do in a divorce case?

• Favor whichever spouse called first.
• Pass along one spouse's information to the other privately.
• Quote a high number to win the listing. The attorneys will be dividing that number, and the market won't pay it.
• Tell anyone who should keep the house.
• Share anything about the case with buyers or their agents.

Pricing is where neutrality gets tested first. See how to price a divorce sale so both owners can sign off.

Frequently Asked Questions

Can the realtor work with both spouses' attorneys?

Yes. In a divorce sale I keep both owners and both attorneys on the same information at the same time, and I don't take direction from one side that the other side hasn't seen.

Is a realtor's market evaluation the same as an appraisal?

No. A market evaluation is the realtor's read on what the home will sell for, based on comparable sales. A formal appraisal is a separate report by a licensed appraiser. Whether your case needs one is a decision for your attorneys or mediator.

Who chooses the realtor in a divorce?

Usually both owners agree on one, often with input from their attorneys or mediator. A court can also appoint one. See how to choose a realtor for a divorce sale.

Can you give us numbers before we decide whether to sell?

Yes. A market value and a net-proceeds estimate help whether the home is sold or one of you keeps it. How a buyout is structured is for your attorneys and your lender.

This is general information, not legal, tax or lending advice.

About the author

Dennis Mark Interdonato is a REALTOR® and Master CDRE® who leads The Dennis Mark Group at Keller Williams Realty Ocean Living in Point Pleasant, NJ, helping buyers and sellers throughout New Jersey make their next move, with Monmouth and Ocean County as home base. Read more about Dennis Mark.

Keep reading

• The divorce home sale guide
• Dennis Mark's divorce home sale process
• Selling a divorce home with little or no equity
• Have a question this didn't answer? Send it to Dennis Mark.