I am involved with the commercial market not single family residential.

I think the post regarding buyers agent is for purchasing a new home. In the NYC metro area most people don't use a buyers agent. I would think that the concept is that your agent would co/broke with the selling/listing broker. The buyers agent then kicks back some of his fee (which might not be legal).

The concept of a buyers might be a good idea if he is truly independent and well informed. He would gather listing and sales data for the type of home you are looking to purchase and help you negotiate offers/purchases.

The only question in my mind is where do you stand with your existing home; you might be better off going to contact with that house before you sign contract on a new one.