Ses,
You have received many excellent answers..One thing to take note of is that the buyer's broker's (cobroke) commission is written into the listing agreement so usually there is no extra charge or cost for having a buyer's broker, guide , advise you and help streamline the whole process AND often save you money! Especially if they offer you a buyer's rebate. (Legal in New York State if allowed by your financing /other restrictions may apply)
Please make sure your privacy and negotiating strategy are protected if you go it alone!
Best wishes!

Not as long as you understand that the seller's agent works ONLY for the seller, is only concerned with the seller's best interests, that anything you say will be relayed to the seller, and that the agent's job is to get the most money from you as they can.

I work in both the NYC and Ulster County areas. I disagree with Gigi that a buyer's agent is not needed because each party is represented by an attorney. The attorney does not list the house, the attorney does not show the house, the attorney does not negotiate the house nor have any involvement in the inspection.

It is the job of the listing agent to get the best price/terms for the seller - not the buyer. It's the buyer's agent responsibility to do the same for the buyer. If a buyer tells the listing agent something, then she/he has an obligation to pass that information on to the seller..but the flow of information does not go the other way.

This is why NYS mandates agency disclosure at the first substantial meeting.

If you have any questions, please let us know.

Best,
Cree
The Machree Group, LLC
845-679-1237 Woodstock
917-691-9788 Brooklyn - Carrol Gardens

New York State Law requires real estate licensees who are acting as agents of buyers and sellers of property to advise the potential buyers and sellers with whom they work, the nature of their agency relationship and the rights and obligations it creates. This disclosure will help the buyer or seller to make informed choices about their relationship with the real estate broker and its sales associates.

The law requires the agent assisting in the transaction to present the agency disclosure form. Real estate agents are qualified to advise about real estate and therefore are required to advise about agency law and its requirements.

The major con is that the listing agent is representing the best interests of the seller and you have no agent on your side. A buyer's agent can help you negotiate the best price and terms. What ever you say to the listing agent can and will be used against you for the seller sbest interest and not yours. You can do it, but why? when 98% of the listings have a buyers agent commission. This means you are represented and you don,t pay anything for it. Visit http://www.lihomechoices.com for free great info for buyers and or email me at info@lihomechoices.com if you have further questions.

Barbara Klepper
Century 21 American Homes
info@lihomechoices.com
cell: 516 476-7671

Things work somewhat differently in New York. Buyers and sellers both are represented by attorneys to make sure that they fully understand the process and to watch out for their interest. In this case, a buyer's agent is not necessary and , in fact, somewhat rare,

sure there are cons, you would be purchasing without the help of a professional, You would be purchasing the home with no one representing your interests, which for some is fine. For others though this may be not such a good idea. if you are familiar with the wording of the contract and making sure that you are taking all the correct steps to protect yourself, sure, you can do it by yourself. But then again you make one mistake, and they will be watching for you to do so, you stand to lose your earnest money, and the possibly the home. The seller has already negotiated a commission on the sale of the property with the listing agent. the commission is large enough for an agent to split with a co-oping buyers agent. In this situation with the seller's agent standing to make double the commission he or she would have made if you had your own agent, they will just about do anything to make the sale happen. I'll just say it's a lot of risk to take on if you haven't done it before......