Interviewer: Today were talking with Michael Morton from Metro Brokers Realty Oasis. Welcome to the show.
Michael Morton: Hi, good to be here.
Interviewer: Good. Nice meeting you. You know, when we first got talking, we realized that you had a special designation called REDS, and tell everyone what that stands for?
Michael Morton: It stands for Real Estate Divorce Specialist.
Interviewer: And I was--I got to plead ignorance, because I didnt know you could actually get one of these, but you can.
Michael Morton: You can, very few people have the designation at our agency.
Interviewer: Where do you go to get one?
Michael Morton: Its from a company in Boulder, actually, that started it.
Interviewer: Right, but you also had, you know, found out, got some additional certifications along with that, correct, and ones about parenting?
Michael Morton: Sure, sure. I have two different certifications as a parenting instructor.
Interviewer: Okay.
Michael Morton: One with the Love and Logic course, which is out of Golden, Colorado Dr. Charles Fay.
Interviewer: Right.
Michael Morton: And the other one is Breakthrough Parenting Dr. Jayne Major, out of California.
Interviewer: And how do you feel that assisted you when you are dealing with a couple getting divorced and selling their real estate?
Michael Morton: Well, there are many dynamics within the family when a couple is getting divorced, and one of them is theyre now multi-tasking like two separate households. So the dynamics of the children, if they have children, that type of thing, if you are aware of that and understand that, and understand sort of the mediation process between parents and children, you can help them also in the divorce real estate part of the transaction.
Interviewer: How much, how often would you say, percentage-wise, that youre dealing with the couple themselves or youre dealing with their attorneys?
Michael Morton: Its about half and half. The attorneys, of course, want to make sure that their clients interests are protected, and Ive worked with a lot of local attorneys that we will come up with a part of the final orders and actual section in the final orders that will state how the house is sold, the price that it is being listed, and things like that, and it reduces the conflict about ten-fold.
Interviewer: And then do you go another step and deal with their financial planners as well?
Michael Morton: Sure. People today are not only using attorneys. Its like they have a team and its more cost-effective for them, so if theyre using like a divorce financial planner, and they have assets like 401(k), things like that, real estate also fits into that. So according to their portfolio, I have conferred with different financial planners as far as how the house should be sold, if its a 1031 exchange, other areas like that.
Interviewer: So if I were probably to complete the triangle in the trifecta, I imagine the accountants in there somewhere too?
Michael Morton: Yeah, theyre always in there too.
Interviewer: Is that right?
Michael Morton: Yeah.
Interviewer: Right. So we got an attorney and accountant and a financial planner, and then you, and so you know, its not enough that you got to deal with the couple, now youve got three more other parties or soup, you know, chefs in the kitchen, so to speak.
Michael Morton: Sure.
Interviewer: Your phone must be busy?
Michael Morton: It is, it is, it rings off the hook some days, but you just have to be able to interact with each party and hold the best interest of the client in mind as youre doing it.
Interviewer: All right, final question, quickly.
Michael Morton: Sure.
Interviewer: $64,000 question: How do the couples avoid serious conflict during the real estate transaction?
Michael Morton: Well, try and stay calm, I mean thats about the only way to do it. You are separating, youve already decided to, you know, get divorced, and if you can look at it more as like a business transaction, then all the emotions that are wrapped up in this, it goes a lot smoother.
Interviewer: Great information. Thanks, Michael.
Michael Morton: Thank you. I appreciate it.
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