Another big misconception about buyer representation is cost. Potential buyers often believe it will cost them too much money to have a real estate agent working for them.

The truth is that in most cases the seller pays the buyer agent's commission. Buyers can have all the benefits of representation at no cost to them! Using an agent can also save them money by avoiding costly mistakes, negotiating the best terms, and advising them of the appropriate purchase price.

When it comes to selling your home, you only pay the commission when the house is sold. A good agent not only gives you access to homes at times when there aren't open houses, but he or she will also protect your interests, help you negotiate the contract and takes care of all of the legal paperwork involved with buying a house.

An agent can help you find financing that works for you since there are so many ways to finance a house. They can also help you with recommendations for services once you've purchased your new home: plumbers, gardeners, handymen and etc. And a good agent is there after the fact to help with things that arise after you move in.