[quote=ljinvestor]IMO, you just need to find a buyers agent you can trust and let them collect the 2-3%[/quote]
This might be a bit harsh, but… I don’t think the OP needs to find someone they can trust. What they do need to do is to firmly understand there are four sets of interest in any real estate transaction. The seller’s interests, the seller’s agent’s interests, the buyer’s agent’s interests, and the buyer’s interests. At no time should anyone really “trust” the other to look out for their interests. Each party needs to look out for their own interests.
As a buyer that means becoming knowledgeable about the market you’re looking in, comps, expenses, etc. Gain as much knowledge about what the stages of escrow are as you can, etc.
But a buyer should not trust their agent with all that they are thinking. For instance, a buyer shouldn’t tell their agent, “heck, I’d go another 10k without walking away.” As a buyer you want everyone in the transaction to be aware that you can and will walk away if you don’t get a deal you feel is fair.
Lastly, if you really feel you want to trust other parties in the deal, trust them to look out for their interests. So, yes if your agent thinks you are going to walk away from the deal, then I think it’s fair to trust that your agent will do whatever he can to make the deal happen, even if it means a slightly reduced commission. But trusting your agent to represent your interests doesn’t seem that wise to me.
