Since this is probably the single largest financial transaction you will make in your lifetime, you should ask yourself if you are comfortable entering into such a transaction unrepresented.
Many people feel that they can save on the commission by dealing directly with the listing agent. However, the listing agent has negotiated with the Seller for the amount of commisson that will be paid to get the home sold. They then agree to share a portion of that commission with a buyer's agent. They are under no obligation to reduce that commission should there be no buyer's agent. So in essense, you may not get a better deal, you will be unrepresented and the listing agent is still entitled to the full commission from the seller and since the listing agent is now doing double duty, they do not have a strong incentive to reduce their commission so that you get a better price on the home.
Keep in mind, that a buyer's agent gets paid their commission from the seller. So there is really no reason for you not to have your own representation.
I highly recommend you partner with a Realtor and create a buying strategy and narrow your search which will save you time and money.
I have some great contacts in that area, please contact me via email or phone ASAP if you would like names.
Chris Capps, Realtor
Residential Real Estate Specialist
office 804.740.1644 ext. 103
It's Time to Expect More From Your Realtor
Licensed in Virginia, with contacts across the country