Question:
I am proposing to take on a Listing. I have been introduced to the property by the wife. It’s a matrimonial home and they are obtaining a divorce. While the wife is prepared to retain me, the husband insists on going it alone and being a self-represented party.
How best to proceed?
Answer:
That would be a little more complicated than usual. There are a few steps to bear in mind:
- Get them to sever the Joint Tenancy and become Tenants-in-common if that’s not already the case.
- List, a half interest at double the expected price.
- Offer double the amount of Co-operating Brokerage commission.
- Once an Offer is received, simply treat your own client and provide whatever services are required.
- Then, get the other party to sign into the deal (yes, then will be extra clauses). They can remain a Self-represented Party (SRP).
Brian Madigan LL.B., Broker