Rather than take just any agent's "opinion", you can actually checkout what the professionals have to say:
"A study by U.S. Sprint found that 232 relocating Sprint employees who hired buyer's brokers paid an average of 91% of a home's list price. People who use traditional agents typically pay about 96%."
House Hunting? Save By Hiring Your Own Broker - Carla A. Fried
â€œUnlike the traditional agent who looks out for the seller, a buyer-broker acts as your advocate â€¦ the best buyer brokers are so called exclusive agents â€“ that is they represent buyers, never sellers, and thus are not tempted to push a house on which they stand to earn a double commission. You can find a true buyer broker in most states by stipulating you want an exclusive agent.â€
â€œAlways remember that a real estate broker does not work for you, but the seller If you want a broker on your side, get a buyer broker.â€
â€œA conflict of interest is more likely when a real estate firm that represents sellers assigns you one of its brokers as a buyer agent. Thatâ€™s why many people believe an â€œexclusiveâ€ buyer broker is preferable.â€
- Business Week
â€œWhen buyers do not use an exclusive buyer broker, they are generally dealing with a professional, trained selling agent who has pledged to get the best price and terms possible for the seller.â€
â€œAgents: How to hire one for your side.â€ â€œMost agents who show you homes donâ€™t represent your interests. They work for the seller, and their objective is to sell the house at the highest possible price.â€
â€œExclusive buyerâ€™s agents work only for consumers and often can save them money â€“ and they donâ€™t cost more to hire â€¦ Buyerâ€™s agents are not tied to any particular property or agency, so they will show buyers any home, even those for sale by owner.â€
-Los Angeles Times
â€œTo protect themselves, buyers can retain their own exclusive representative, called a â€œbuyerâ€™s brokerâ€. Your local agent may offer such services, but be aware that buyersâ€™ brokers who also work as sellersâ€™ brokers can sometimes end up on both sides of the deal.â€
â€œBuyer Brokers: agents that buyerâ€™s can call their own.â€ â€œIf your real estate agent isnâ€™t a buyer broker, he works for the seller.â€ â€œBuyers no longer have to fend for themselves.â€
-U.S. News and World Report
â€œYour goal should be to engage an agent who will represent only your interests. Not just a â€˜buyer brokerâ€™, but an exclusive buyer broker . Make sure that is what you are getting.â€
â€“Joseph Eamon Cummings, author- Not One Dollar More
â€œConfusion often arises because many buyers believe that the agent who shows them houses works on their behalf. In fact, subagents of the listing broker â€” often they are agents who work for another office â€“ also act on behalf of the seller.â€
-The New York Times
â€œMany people donâ€™t realize that, unless specifically stated otherwise, brokers are legal representatives of the sellers. A buyerâ€™s broker, representing only the buyer, may be able to secure a better price and better terms.â€
Traditionally, the real estate agent has always represented the seller of the house. So whenever you walk into an agentâ€™s office and say something like, â€œIâ€™m ready to offer $150K but would go as high as $160K if I had to,â€ that agent is duty-bound to tell the seller about your conversation.
Even though a traditional agent may spend hours and hours with you, her allegiance isnâ€™t to you at all. Itâ€™s to the seller, and in this regard her main motivation is to get as much money out of you as possible. There are two reasons for this. One, it makes the seller happy to get a lot of money. Two, as weâ€™ve seen, the agentâ€™s commission is based on a percentage of the selling price. The more you pay, the more she makes.
There are many agents who will take exception to looking at their business so coldly. And there are many fine and ethical agents in the world. But the bottom line is that sellersâ€™ agents are salespeople who make their living off commissions. Never forget that, no matter how nice they are.â€
-The Motley Fool
Pam Bell, Broker