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First, when is a Real Estate Agent a REALTOR®?
The National Association Of Realtors(link to site) defines a REALTOR®
as a registered collective membership mark that identifies a real estate
professional who is a member of the NATIONAL ASSOCIATION of
REALTORS® and subscribes to its strict Code of Ethics.

Should I use a Realtor?
A Realtor is not required for a transaction, but there are many benefits to
using one. There are very few fees, if any, that you as a homebuyer pay to
a Realtor. Some companies have a small fee you pay at closing, but
many companies don’t even have that. A realtor is paid by the Seller of a
property. The commission is negotiated by the listing realtor, and that
commission is split between the Seller’s Realtor and the Buyer’s Realtor.

Note– Realtors do have the ability to represent both the Buyer and the
Seller at the same time. Only you can decide if you prefer this or not.

How does having a Realtor help me as a home buyer?
Realtors can assist you as a buyer in many ways. They have access to
the MLS system, which is how Realtors list properties for sale. They are
very familiar with the real estate market, and can give you a good idea
about neighborhoods, schools, traffic patterns, etc. They are licensed
professionals who will help you prepare documents, make your offer,
coordinate inspections, etc. The creators of this site (who are not Real
Estate Agents or Realtors, by the way) believe that using a Realtor is
highly recommended for any first (or second or third) time home buyer.

How do I decide on a Realtor?
Choosing a Realtor is like an interview process. Make sure that you feel
that the Realtor will work well with you to help you find the house you want.
Do not be afraid to ask questions. You may spend a lot of time with the
Realtor, so make sure you are comfortable with them. One
recommendation on finding a quality Realtor would be to ask someone
you know who they recommend or, if you have already spoken to a
mortgage professional you trust (see how to choose a Mortgage
Professional) you can ask them. If you are working with a local mortgage
broker/banker, they will have worked with many Realtors and will definitely
have a suggestion or two for you (mortgage professionals will know who
quality, professional Realtors are from other client's experiences)

Every open house I go to has a different Realtor. Do I have to pick one?
If you are just going to open houses you don't necessarily need to pick a
certain Realtor to work with. However, this might be a good time to start
"interviewing" Realtors to see if there is someone that you would like to
work with while you find a home.

Note- A Realtor will probably be willing to work with you without you
signing a contract with them. ( There is an agreement called a
buyer/broker agreement that states that you will not use another Realtor
while working with the one you have) Please realize under a professional
courtesy that as a Realtor spends lots of time with you, he/she is missing
out on other clients; please be loyal to a Realtor who is doing a good job
for you- this is their living.