For sale by owner (FSBO) is not a wise idea and I'm going to tell you why! According to the National Association of Realtors (NAR), houses listed with a Realtor average 11% more and 7 out of 8 end up listing anyway. You could also find yourself wrapped up in countless legal issues by simply not being familiar with the process. When making an investment, you should always hire a professional.
As a Realtor, we spend countless hours every year learning the laws in our local market. We have experience in marketing your home to the people most likely to buy. Realtors have the tools to get you the most out of your investment and, more often than not, have buyers looking for a house just like yours.
"When making an investment, you should always hire a professional."
Out of my years in the real estate industry, I have seen and listed many homes that were offered FSBO first. Of these homes, very few every sell and those that do usually sell too cheap! I've seen home owners try for months to sell their home, only for me to sell above listing price.
Example 1: A house in my area owned by a friend was listed with a flat fee Realtor for 8 months. It was even listed on MLS. Finally they let me list and I had it under contract for over their original asking price in 1 day for cash!
Example 2. A home owner once told me, "I'm a Realtor, but my license is in escrow. I can sell it myself and I don't need you!" A month later, they lowered the price by $5000. THEY LOWERED THE PRICE 2 MORE TIMES! Finally, he lets me list for $15,000 over his original asking price as a FSBO. The home sold for $20,000 over the original FSBO asking price in 1 weekend. He made $12,000 more (after paying commission) than he would have selling the home FSBO.
"The home sold for $20,000 over the original FSBO asking price in 1 weekend."
Moral of the story : This is probably the biggest investment of your life; put it in the hands of a professional. Out of the hundreds of for sale by owners I have seen listed, I have seen only 1 benefit from selling themselves; and in that specific case, he sold it to a family member.
Hope this helps.