Representing Two Buyers for Land Park Homes

Representing two buyers for the same Land Park home doesn’t happen very often. But in our crazy Sacramento real estate market, it’s possible. Yup, an agent can represent more than one buyer to buy the same home. Especially with limited inventory. Our California Association of REALTORs team of lawyers have even designed a form for this called a DA — Disclosure and Consent for Representation of More than One Buyer or Seller. It lets an agent engage in dual agency, too, as well as disclose the terms and conditions of an offer (without a confidentiality agreement). When I read that document, I no longer wonder why the public has problems with trust issues concerning real estate agents.

Can you imagine a lawyer representing two different clients who were competing with each other? I work with a lot of lawyers. I’m not sure why lawyers tend to gravitate toward me but I like to imagine we speak a similar language; we probably approach the same subject matters in an analytical way. They know I will be direct. I suspect they appreciate that directness as not every person does.

There are some Sacramento real estate agents who won’t work with lawyers. They flat out refuse. They call lawyers “deal killers,” and maybe they’re worried a lawyer will sue them; I don’t know. The way I see it, I’m least likely to get sued by a lawyer, knock on wood. And I really love the fact I get to tell them that I can’t give legal advice. Especially when they ask me for legal advice. But I also realize that lawyers specialize in certain types of law and not every lawyer knows much about real estate, much less short sales. But they do understand strategy. I respect lawyers, and I like them. I wish all my clients were lawyers. That would be a happy day for me.

I recall a few years ago I was working with several lawyers to buy homes in Land Park. This was back when law firms were flourishing and hiring new lawyers, bringing new talent to Sacramento. As luck would have it, both of these lawyers decided they might be interested in buying the same home. Let’s just say I was not about to whip out the DA form. Instead, I explained the problem to both of them individually.

I suggested one of them could choose to work with me and the other could choose to work with a different buyer’s agent. However, as I reminded them, the lawyer who drew the short end of the stick would be competing against me in negotiations. Which Land Park agent did they want to represent them? This Land Park agent or my associate? Put that way, one of the lawyers decided to look at a different home and keep me as their agent. The other lawyer bought the home through me.

Not every agent employs this approach. In fact, not every agent who represents more than one buyer for the same property even uses the DA form. I received this week two different offers on the same listing from an agent, and no DA form with either offer. The second offer was much better than the first offer. Coincidinky? We just don’t know.