Hi. The major advantage to hiring a buyer's agent is the buyers agent works in your best interest. He or she can negotiate the price and conditions for you. A sellers agent cannot do this for you, as they work in the best interest of the seller. As for payment, the buyer is the only person bringing money to the closing. In effect, the buyer pays the agents commission at all closings. Also, if you choose to hire a buyers agent, you can ask the seller to pay your agents commission in the offer.
Most seller's agents frown on working with a buyer agent client for this reason. I am a Certified Buyers Representative. If you would like to work with a buyers agent, please give me a call at 718-721-2700.