For Sale by owner or FSBO is a bad idea and im going to tell you why! According to the National Association of Realtors, houses listed with a Realtor average 11% more and 7 out of 8 end up listing anyway. And thats not counting the countless legal issues that you can get yourself in. Just like dealing with any big investment you should always hire a professional.
As a Realtor we spend countless hours every year learning the changes and laws in our local market. We have experience in marketing these kind of transactions and we have the tools to get you the most out of your investment and a lot of times even already have buyers looking for a house just like yours.
Out of my years in the Real estate industry i have seen and listed many homes that were offered for sale by owner first and very few every sell and those that do usually sold too cheap! Many times they have tried for months only for me to sell their property for more money than they were asking in the beginning.
Example: a house in my area owned by an friend was listed with a flat fee realtor for 8 months. It was even on the 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. Im a Realtor but my license is in escrow is what the owner told me. I can Sell it myself and i don't need you! A month later, im going to lower it $5000 more. i can sell it over that sir just give me a shot! LOWERS PRICE 2 MORE TIMES. Finally he lets me list 3 more house payments later i listed it for $15000 over his asking as a FSBO and it sold for $20,000 over his fsbo asking price in 1 weekend. He made $12000 more after pay the commissions then he would have if he sold it for full price as a FSBO.
Moral of the Story people is that this is probably your 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 1 come out better selling himself and he sold it to a Family member.
Hope this helps.