The real question is what does it cost you NOT to hire a good buyers agent to look out for you. In most cases, the answer to the original question of the cost, it is usually nothing, or a minimal fee at closing. As far as commission payable by the buyer, there is NO commission payable by the buyer in most cases. It is important to meet with your agent and learn more about the strategy you want to take before you start looking at homes!
Here is how commission usually works: Commission is negotiated at the time of the listing between the Seller, and the Listing agent. When the listing agent places their listing in the MLS, they automatically offer a portion to the agent who brings the buyer. Whether a buyer uses the listing agent, or uses their own agent in the transaction, the Seller still pays the same commission according to the listing contract. For this reason, it absolutely makes sense to build a relationship with a real estate agent to use as YOUR buyer's agent, and view properties with that agent.
First and foremost, the buyer's agent will represent their buyer's interests, and not the seller's interest. The buyer's agent will learn the likes and dislikes of their client, and will be able to target properties that he/she knows will be a good match. If a buyer only calls listings agents by calling on ads, or calling from a signs they have seen in a yard, and the buyer basis their home search in this manner, the buyer will not have an agent that really understands what they are looking for, and who knows the likes and dislikes. This can be a real time-waster, and cause the buyer frustration. If you are planning to buy a home, please call me so we can discuss your needs further. We are in the business of exceeding our clients expectations and look forward to talking with you!
Here is a great video to explain how to buy the best home, for the best value, with the least amount of aggravation, on YOUR timetable!
