Buyer's agent agreement

[Peter Wyric]

Hey BP,

I recently contacted an RE agent in my area to assist with the acquisition of a new property. Based on the conversation that I had with the agent, he is not very familiar with the area that I am targeting. Furthermore, he asked me to sign a buyer's agent agreement immediately without revealing any further market color. The buyer's agreement stipulates that he will be my exclusive buyer's agent, and that upon purchase of a property, I owe him 3% of the total sale price (if the seller reneges on paying the fee). Is this fairly common in the industry?

Do I need a buyer's agent at all?