The "theory" to #2 is that your broker is your buddy and looks out for your best interests, where-as the seller's broker will be mostly looking out for the seller's interests.
Ha anyone ever been really glad they had their own broker at buying time?
First, I would disagree with that theory. Unless you have a relationship of some kind before the process, then the broker is not your buddy and he is not looking out for your nor the seller's best interests.
We have had our own broker on 2 of the 4 boats we purchased. On the 3rd we used the sellers broker, and on the 4th we didn't use a broker, just the credit union.
In my opinion, using a broker makes the process much easier -- their ultimate goal is to sell boats, so it is logical that a good broker is involved in many transactions. So (s)he knows the procedure, and can make the process smooth. When closing on a boat with a broker, it's simply a meetup somewhere (on the boat, office, Starbucks), and 10 minutes of signatures. Working directly with the credit union took multiple phone calls, 3 trips to the office, and a trip to the Department of Licensing.
I also like having my own broker, and will do so most of the time because I get to choose the person I want to work with. If I just ask for the listing broker, I get the luck of the draw. And they are usually very happy to take on the role, especially if they are your selling agent.
There are "rules of engagement" however, so make sure if you do have your own broker you don't go around calling brokerages about their listings. Send the link to your broker, and let him start the conversation. Neglecting to do so is a quick way to get both brokers upset.