home buying: use a buyer's agent?

[astroglide]

- i can negotiate a better price representing myself
- the contracts in missouri are all standardized across realtors and i have a lawyer that will review it for free
- i can arrange for my own inspection
- i find, visit, and select the home i want myself
- i can look at general comps to see if the price is decent

is there ANY REASON to use a buyer's agent?

[adios]

Not that I can see. Lending institutions tend to make sure the right inspections are done. An agent may save you some time but if you know the market then they're not necessary. If one doesn't know the market they have some work to do /images/graemlins/smile.gif.

[astroglide]

what's your definition of knowing the market?

[adios]

Knowing what various homes are selling for in particular areas (at least what they're listed at), knowing something about the demographics of particular areas, knowing something about the desirability of living in a particular area (like schools, roads, services etc.), perhaps how prices have behaved over the past several years, etc. Just information to evaluate the desirability of a location. Not very precise.

[Ray Zee]

if its listed with a realtor it doesnt matter, you get to pay the commision. so if you have a buyers agent he splits with the listing agent. if you do it yourself the listing agent gets the full commision.
your scenario only works with houses for sale by owner.
in all listed houses the full commision gets paid by the seller at closing but really in effect the buyer pays it in the price.
all realtors are in effect working for a piece of the sale so their interests are different than yours. they are trying to get you to buy anything. in some way or another

[astroglide]

[ QUOTE ]
if its listed with a realtor it doesnt matter, you get to pay the commision. so if you have a buyers agent he splits with the listing agent. if you do it yourself the listing agent gets the full commision.

[/ QUOTE ]

i recently signed a backup contract on a condo where it was listed in the MLS, but the seller was the owner and also a realtor. he discounted the price for me to give back the 3% that would have gone to the buyer's agent. i realize this was FSBO, but it was properly listed.

if the advice is that i get none of it back in exchange for going it on my own, i'll certainly use a buyer's agent (the same guy above has offered to cover all fees and pay half my closing costs). it seems strange though since the first example did have a listed property.