Anyone who buys real estate should consider having the assistance of a real estate agent. This is especially important when you are buying your first home.  Actually, it is almost a necessity for a first time homebuyer, because they have no experience to guide them.  Not being represented by a buyer's agent can cost the first time home buyer a great deal, because errors in judgment can lead to an expensive education.

 

Keep in mind that when a buyer enlists a real estate agent to help buy a property, they are really hiring a real estate firm along with all its agents. Of course, the buyer’s main contact is the specific agent they signed with, though other agents within the firm might help as needed. If a Buyer Agent is hired to represent you, they must promote your best interests; be loyal to you; follow your lawful instructions; provide you with all material facts that could influence your decisions; use reasonable skill, care and diligence; and account for all monies they handle for you.

 

As part of this agreement, a Buyer Agent cannot pass along any confidential information about you to sellers or their agents thereof without your permission, while they represent you.  If you sign a buyer's agency agreement, your agent works for you.  If you do not sign a buyer's agency agreement, the agent works for the seller. 

 

Buyer's agency is an amazing consulting relationship.  The buyers agent has to use every skill available to represent you, dig out all the material facts you might want to know, give you the best advice, and you do not get to pay the agent.

 

For a more detailed discussion on this topic, please go to http://solonglandlord.com/first-time-home-buyer-dos-and-donts/first-time-homebuyers-shouldnt-buy-without-a-buyers-agent.