In the age of sites like Realtor.com and Zillow, this has taken on a different angle than in the past. Experienced agents could hold the MLS over the head of prospective home buyers and they would feel that the agent had more information than they did.

But, we go back to Toby's favorite saying "information is cheap, don't be cheap." So what is an agent's role in finding you a home? They can work with you to find the home, but it is the agent's role to point out issues with the home — things that an agent will see more because this is what they are trained to do. Spotting potential defects — or even things that the seller may have omited that could increase the homes value (for example, hardwood floors under the carpet).

Negotiate Your Home

What is the goal of a buyer's agent? To get you the home you want in the best possible deal. Note that, I wrote deal — it isn't always the best price. It is the combination of the sales price, financing options, downpayment, etc. that leads to a great deal that will ultimately provide the purchaser with the most enjoyment of the property.

Manage The Deal

Buying a home is extremely stressful situation for a buyer, and if their agent is always saying "let me check." Don't you think that will add to the stress level? So you want an agent that is experienced and keeps involved in the transaction from the beginning to the end of the deal.

Meet Expectations

There are a lot pitfalls that can send a deal packing as it heads through the stages. And you need to know what they are and the positive and negative reactions to your decisions. The entire deal is a "game of chance", and you need to know the odds before playing.

The easiest example would be if you can only buy a home in the $100,000 range and the agent is showing you homes in the $300,000 range. Well you are never going to find a home that can meet your expectations in that location.