By contrast, a traditional real state broker is legally bound to work for the seller who pays the commission and therefore may be more intent on selling listed homes than finding your dream house. Even realtors who don't hold the listing on a given house act as subagents to the seller. Such agents must pass on information such as the buyer's income to the seller, who then has a better idea of what price to hold out for. But the balance of power in real estate transactions is changing as the number of brokers who serve only buyers grows. Colo. Both companies provide referrals to their own brokers as well as independent buyer brokers across the country.
Proof is still scant that buyer brokers are a boon.
Some traditional brokers think they add little to the equation. I don't know if it will change things except in people's minds. However, there's reason to believe buyer brokers can save time and money. In addition, buyer brokers check into property values and school systems. Because these brokers are obliged to get buyers the best deal possible, they approach houses with a critical eye for apparent flaws.