QUOTE (donksky @ Apr 18 2008, 05:56 PM)
Do u use buyer's agent when u buy properties? I get frustrated with realtors (not much choice in small areas) who don't really provide data/legwork I need to make a wise investment that maybe I should just deal with vendor's agent & use my lawyer to draw up purchase agreements? I know the spiel about buyer's agents being "free" but they really aren't - their commissions come off the purchase price which buyer pays so to me they're not really "free" but if they're not worth their fee, dealing with the vendor's agent & doing my own due diligence if I can may cut me a better price even - 'coz vendor's realtor has not buyer's realtor to share their commission with.
I have a number of friends who are realtors. The big picture is: If a you, the buyer comes to their listing, they can certainly cut a deal with you since they do not have to split the funds with a buyer's realtor so they have room to play with working both sides of the deal. They can even give the owner a kickback and if the owner buys their next property with them, they might even not pay the the listing fees to sell. Basically, you have to search out the properties and visit each one with the listing agent (who would love to have you for a client to look at other properties as well.) The listing agent is also working for the buyer and cannot disclose any "priviledged" information about the seller's background, reasons for selling, etc. If you use the same lawyer as the seller, you can save courier costs, etc... but that does put the lawyer in a spot serving both parties so if the deal is a clean straight forward one, it would work. If suspicious about anything, then be sure to use a different lawyer.
A realtor's job can be tough so although most have no problem in sharing some of pie with you, don't try and take it all as that is their livelyhood. If they cut you a good deal, be sure to help them find new clients as part of your share of enjoying the break that they gave you.