Yes, if you are buying a REO property you should be represented by your own agent. That agent gets paid by the seller, the same as a normal transaction, but that agent has a fiduciary duty to you the buyer, not the seller.

Hi Lola: Yes , you should get an agent........The listing agent represents the seller and , the agent you get would represent you as a buyer and you are better represented. I would be glad to help and am avilable. Al Sovey

GREAT QUESTION:

Listing and buyers agent are both paid at closing via seller proceeds from selling a home.

RULE of thumb: Never purchase a home direct from bank / builder / seller / listing agent UNLESS you have your own buyers agent representing you .

If the agent works for the seller, their goal is to get the most money for their client and protect them. It is usually a wise idea to get an agent who will act as your buyer agent and has your best interest in mind. The seller pays the commission, but check with your buyer agent to see if their company charges a broker fee. My company charges $200, but it is only paid if there is a closing and that amount is negotiable. If you work with the seller's agent, he or she will collect both sides of the commission and may not fully protect your interests.

In Wisconsin you can call listing agent or contact another agent to represent you as a buyer's agent.
Good luck-Dawn Finger-Coldwell Banker-HomeSale Realty, Inc.Oak Creek, WI 53154 http://www.dawnshomes.net