1. FSBOs are likely to stumble into legal trouble: Real estate transactions are fraught with potential liability for unwary sellers, particularly in states like Florida that have extensive disclosure requirements. A FSBO who overlooks even one required form or legally mandated disclosure could face a protracted and expensive buyer lawsuit after the transaction closes.

2. FSBOs can not list their home in the MLS: FSBOs aren't permitted to put their home in the Multiple Listing Service (MLS) because these industry membership organizations are open only to licensed real estate brokers and agents. FSBOs are locked out of many home search engines and websites. Sure, a determined FSBO can put a for-sale sign in his or her front yard and run a tiny advertisement in the local newspaper, but home won't receive nearly as much exposure as it would through the MLS.

3. Agents often won't show FSBO homes: In a typical home sale, the buyer's agent receives a percentage commission that the seller pays the listing agent. Without a listing agreement, there's no guarantee that the buyer's agent will be compensated for his or her services, unless the buyer has signed a buyer's broker agreement that specifically provides for such compensation. Even if a FSBO offers to pay the buyer's side of the commission, most agents won't want to go through a transaction with a self-represented seller across the table. That means the pool of potential buyers for FSBO homes is limited primarily to underrepresented and probably unqualified prospects.

4. FSBOs usually overprice their home: Like most homeowners, most FSBOs honestly believe their own home is worth more than comparable homes in the same neighborhood. Usually, they are wrong. A real estate agent can provide an update on market conditions, an assessment of the likely selling price of the home and tip for improving the home's buyer appeal. Over pricing a for-sale home is a way to deter potential buyers.

5. Buyers will feel intimidated: Potential buyers will spend less time in a for-sale home if the owner is present during the showing, and they'll be shy about discussing its pluses and minuses with their own agent if the owner is within earshot. Buyers will also be less inclined to make an offer if they know they'll be negotiating directly with the seller. Having an agent on each side creates an effective emotional buffer between the buyer and seller.