Would you list your house without having a contract with a Listing agent? Of course not! Don't you want that Realtor to work the hardest they can for you? So, be prepared to retain (without putting money down) a Buyers Agent who will work for you when looking for a home. Yes, that means that you cannot work with any other agent. When you sign on with a Buyers Agent, it is an exclusive contract. You then, have agreed to be loyal to them and only them. Don't be afraid to sign a 3-6 month contract with your Realtor. This is protection for you and them. The buyers agent will work for you when purchasing a house. They should complete a comparative market analysis, which is information a buyer needs in order to make a realistic offer on a house. The Realtor will write up your offer, present it and negotiate for you and work in YOUR best interest. Your Realtor is the trained professional who will participate during inspections, communicate with your attorney, mortgage lender and co-operating broker. Your Realtor is the one who will be reponsible to protect your 5% deposit. Sit down in your Realtor's office with him/her to discuss how they will be working for you. Also, ask them how they get paid? Realtors get paid after they sell their client a house, after the attorney goes to the register of deeds and transfer the names from old owners to new owners. Can you believe that they work all of those hours with out getting paid by a client. So trust the Realtor that you CHOOSE because they
are trusting that you will eventually buy a house and that it will close!!