..."after all, he has all the info on the property and knows what the seller will accept! I'll get a deal!" Really? Under no circumstances will a listing agent tell a buyer or a buyer's agent how low the seller is willing or able to go. This is confidential information and would violate the listing agent's fiduciary responsibility* to the seller. So, there is no special deal or discount because the listing agent is "in the know." In addition, the listing agent can tell you and your agent everything you want to know about the property. This information has no bearing on representation.
If a buyer enters a purchase contract without representation, he should be very careful. The listing agent is not your friend, no matter how friendly he may seem. Remember that this is a business transaction and has nothing to do with friendship. OK, if you and the listing agent are friends, you should get yourself another agent, otherwise you risk losing a friend - just a personal thought here.
The bottom line is the listing agent has no responsibility to the buyer. Period. That is the main reason why a buyer should always have his own agent. By the way, this is also true if you are buying a property being sold by the owner. The buyer's agent can help you understand all the details and caveats of a sale, negotiate a price that you find acceptable, and protect your interests.
*a relationship imposed by law where someone contractually acts on the behalf of another's rights and assets
Buyer be educated. Seller be prepared.
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