Thread: Buyer's Agent Questions

My wife and I are looking to buy our first home, unfortunately, I have "trust" issues with people and feel like I can always do whatever I want done better if I do it myself vs. letting someone help me. Due to my career and education, I am very in-tune to real estate values, interest rates, financing, construction, etc. I'm scared that I may know more about certain areas of home buying than any potential agent. HOWEVER, I'm also scared that I just maybe missing something that a agent could lead me to. Not to mention, I'm frugal and did not want to pay the added expense - until I realized that may not be ultimately true.

Questions:
0. Is there a difference between a buyer's agent and a buyer's broker? Do I need to go with a broker over an agent?
1. Buyer broker/agent commission is usually taken from a portion of the seller broker commission, right?
2. Would I see any added expense that I am mentally missing from question 1?
3. I have my eye on some bank owned/REO properties, can a buyer broker/agent help me purchase these types of properties? How is commission paid on these types of properties where a seller broker may not be involved?
4. If a buyer broker/agent waives his or her part of the commission in the selling agreement, do they then expect the buyer to compensate them for their time?
5. If anyone has worked with the company "Assist-2-Sell," do you know if buyer broker/agent fees are typically a part to the selling contract?
6. If there is anything else that you could add about buyer brokeragent costs, it would be much appreciated.

Thanks in advance!
PRL3