Do you think buyer's agents should work on commission or should there be another method of compensation to eliminate bias? Currently, many buyer's agents work on a commission based upon a percentage of the sale price of the home. Do you think that affects their motivation to get the buyer the lowest price?

Everything in real estate is negotiable. Assuming a 6% commission earned, a buyer's and seller's agent involved, and a 50/50 split between the broker and agent, the buyer's agent would be earning 1.5% of the sale price. On a $220k property the commission is negligible if an offer was made at $200k and accepted ($300). The agent's job is to represent your interests and if you feel your interests are not being looked after it is time to find a new agent.

As a Buyer's Agent myself I work to get my clients the best deal. A good Buyer's Agent should look out for their clients best interests first even if it means making less themselves. That is part of the Realtor code of ethics.I know from experience, that I want to find the best deal for my home buyers no matter what the price is. You have to put your personal feeling aside to help your clients attain their goals first. I have read that some Buyer's Agent work on retainer fees for some clients or investors. The buyer paying 3 or 3.5% of the final sale or a flat fee would eliminate the bias if they pay the agent directly and could lower the sales price too since the seller would not have to pay that themselves.