I would say this if your working with the Sellers Agent because you feel your going to get a better price because your cutting out the middle man, then I would say re think this.
That is not necessarily true, what it says is that you are asking the Sellers agent to take a reduction on his/her commission. Because that's where the first cut will come from. So do you really think that sellers agent is really working for you when it comes to negotiating a price. You will probably will still pay close to list price if not list price.
I also would say it's like opening the book to all your negotiating tactics and financial history and putting it all on the table to the seller agent who works for the seller. I know they'll say they won't share your information. How can you fairly be represented.. If you are comfortable with having no representation and by the way it cost you nothing for a buyer agent. The Seller is paying for that, and by the way By the way, it's not to late to Get Your Own Agent. Good Luck!
It really depends on the agent, such as if you know the agent and trust them, but it is always a good idea to have your own buyer agent. When an agent is in the situation of dual representation (both buyer and seller) then what they are supposed to do is represent the contract, not really either side of it.
The way agency works is that all agents who show houses, whether it is their listing or not, are by law agents of the seller. The ONLY way they represent YOU in the process is if you have signed an exclusive buyer's agency contract. They may say they represent you without the contract, but legally they are an agent of the seller because that is what state law, their licensing commission and broker agree to when they obtain their license.
Even if you are a seasoned pro at buying houses, it's a good idea to have your own representation. FYI: Dual Agency is actually illegal in Maryland, as it is allowed in Virginia and DC. When in Maryland, Dual Agency only applies to the broker - not the agent. So when in Maryland, if you call a listing agent from a sign in the yard of a property and they show it to you, they cannot represent you if you decide to write an offer. They can perform what is called "ministerial acts" and help you fill out the contracts, but you will be unrepresented in the process. Their broker can assign another agent from their office to represent you, if you wish to have representation, though.
That is your call. Do remember the sellers agent is working for the seller and their best interest, trying to get the seller the best price. You do have the option of having a buyers agent who can help you out along the home buying process and is looking out for your best interests. Here is some info on why to use an ABR: http://rebac.net/why_use_an_abr.cfm
This is called "dual representation", and can often wind up making at least one party feel cheated. Email me if you have some more DC specific questions: firstname.lastname@example.org