How can I contract a buyer’s agent so that his/her interests are in my interests as a potential home buyer?

Posted by | Posted in Buy My Home Fast - Questions & Answers | Posted on 04-04-2010-05-2008

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Traditionally, buyers’ agents get paid a percent of the sale price of a home. Therefore, just like sellers’ agents, they have intrinsic incentive to ensure a high sale price. Also just like sellers’ agents, buyers’ agents make more money the faster they sell homes (because then they can sell more homes & earn more commissions per any given unit of time). Since homes with many weaknesses don’t sell as high or as fast as homes with fewer, buyers’ agents (like sellers’) have intrinsic incentive to withhold negative information about the homes they show to potential buyers. Real estate professionals promise to honor a “fiduciary duty” to their clients that requires them to put their clients’ interests even above their own interests, but (call me a cynic!) I’ll bet that in practice, a fair percentage of real estate professionals adhere to that pledge rather loosely at best. How can I retain a buyer’s agent on an untraditional contract that aligns his/her interests with mine as a buyer?