“Working with a buyer's agent is like having a real estate advisor, a home finder and a financial consultant--all for free”

Until recently, real estate agents were legally bound to represent the seller's interests in a real estate transaction, whether they were the "listing agent" or the agent who helped the buyer find the home.

That's all changed. Today, buyer's agents not only help buyers find homes, they can help negotiate price and contract terms on the buyer's behalf; provide information about a home, the sellers, previous offers and counteroffers; and help arrange for financing, among other services. In most cases, buyer's agents are paid from the sales commissions offered by sellers. (Some arrangements, however, may require payment from the buyer.)