Listing Agents vs. Seller's Agents vs. Buyer's Agents

[Adam Nash]

Part of the reason I lost my first deal last year (before I found BP) was because I called the phone number I saw on a "For Sale" sign in front of a new construction (still being built) duplex. My plan was to live in one unit and rent out the other. In my initial discussion with the realtor, I asked her if I needed an agent and she said "No, no I'll represent you". I wondered if she was doing this to collect both seller's AND buyer's fees/commissions. Then I began to think "How can she simultaneously keep my best interests AND the best interests of the builder/seller in mind?" I determined that 10 times out of 10, she would favor the homebuilder/seller with whom she had a 10 year relationship with. This was especially apparent when I consulted with her on what would be an appropriate amount to offer for the units. She would say things like "You don't want to go too low and insult the builder". This is completely opposite of my new favorite quote "If you're not embarrassed by your offer, you offered too much"!

I drug my feet too long and the property got snatched up by a 1031 exchange. I believe they paid exactly what the builder was asking, which may have even been higher than appraisal. Obviously money was not as much of an issue for them as it was for me.

So long story long, how do I find an agent who will work for me and only me? When I go to open houses, I'm assuming I'm dealing with listing and/or selling agents. Could that same agent that I meet at the open house turn into my buyer's agent on another deal? I would want to make sure that they don't just show me other properties that they're listing or selling, right? It seems like most agents can wear all three hats depending on the deal.

Thanks in advance for any input.

-Adam