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Do I need a real estate agent if I'm buying a home?

If I see a sign out in a yard of a house I like, and I am fine with the listed price, do I need to use a real estate agent or can I just deal with the one listed on the sign? I'm a first time home buyer. Any answers about personal experiences are most welcome...

Public Comments

1. Just call the person listed on the sign
2. No, you don't. However...you can utilize that in your favor. You can negotiate the Realtor's fee down by not using a Realtor of your own. If they bulk at the idea...tell them that you will get one of your own...they'll change their tune quickly. Reason being...if you bring a Realtor in to represent you, the seller's agent has to split the commission with your Realtor. If you don't bring in your own Realtor...the seller's broker gets 100% of the commission. Knowing this can save you nearly 1-3% on the purchase price every time. Also...be smart. Especially in this market. DO NOT OVER PAY. Do your homework and check out the selling prices in the area for comparable homes. Good luck and happy hunting! EDIT: EXCELLENT point by DANNY. You can always contact a local title company too...many title companies are owned by lawyers and they know the ins & outs of the entire transaction. For a minimal fee or free sometimes...they may review the contract for you and let you know what is standard and not. I do this in my title company for free.
3. found a very good offer from a real estate agency. check it out. you may like it too.
4. I would like to add on to Brian G' s answer if I may Never go into buying a home without a lawyer who is in real estate. They may cost you a bit of money but the peace of mind is so much more than just going into a realtors office and wanting to buy a home. Why? just like he said they could raise the price, add in extras that are not even there. Want you to pay the full closing costs etc. Be very careful in doing this. Also, if you are buying from a homeowner on a contract, this is a big no no. Why? they will hold the deed to the property until it is paid off. They in turn can take out a mortgage on the deed. The lender does not necessarily know you are living there they can tell the lender you are renting it your payments can be made to look like rental payments. You go to pay off the mortgage and there is a loan against the property. Guess who pays. Not the contract holder.
5. The seller's agent will ALWAYS have the seller's interest in the first position. You can make an offer through the seller's agent and enter a dual agency agreement (which means the agent represents you and the seller) but the agent has the primary responsibility to the seller, not you. If you use the seller's agent, you may be able to negotiate a better rate on the commission, but again know that the seller's agent represents the seller first.
6. As a buyer, you pay nothing for the services of a realtor, but the value you get by using a realtor is worth it's weight in gold - sure, you may like the house, but do you really want to pay full price if the neighboring homes are way less? Do you really know that particular market? In all likelihood, no. However, if you work with a realtor, he or she can tell you if it is a good buy for the area, show you what else is available and give you valuable advice along the way - as gaged says, the agent on the sign is the seller's agent, and may not have YOUR best interest at heart - I am not a big fan of dual agency - I just don't see how you can give the proper service to each client. It's always better to have your own realtor that you trust and is working for YOU and your best interest! Good Luck!
7. In my opinion, it's best to have a different agent then the one listed on the sign....someone to work for you.