Buyer's agent is just an agent that works for you. Basically, you get impartial advice, access to research (they can pull comps, etc), and help setting up appointments/negotiating. The seller pays the same fee, and the buyer's agent gets half of the money, so it doesn't cost you anything.
I've tried the "go unrepresented and try to negotiate the commission savings" thing, and it doesn't work. Also, it takes forever to get a chance to go look at anything.
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