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You don't have to use one, but a buyer's agent protects you during the biggest purchase of your life, and it's smart to have someone on your side. Since the 2024 rule changes, you'll sign an agreement with your agent that spells out their fee. In a lot of deals the seller still offers to cover the buyer's agent commission, but it's now negotiated case by case, so budget for the possibility. Nick will explain exactly how it works for the homes you're looking at.

The amount you need for a down payment depends on the type of loan and your financial situation. While 20% is a common benchmark, many buyers put down less—some conventional loans allow as little as 3%, and FHA loans require just 3.5%.