When you need a Realtor

The current state of the real estate market, where appreciation has normalized or prices have declined, is leading more sellers to focus on how much equity they will have left once they've sold their home. Part of that process is often calculating how much it will cost to sell the home with or without a traditional real estate agent. The growth in free online real estate tools and services have made the buying and selling process more accessible to consumers, but going it alone isn't for the faint of heart:

Time is money. "Sellers may feel they'll walk away with more profit from their home sale by avoiding a real estate commission, but may not consider the price tag on the time and energy they'll spend in selling their home on their own, said Jim McEneaney, senior regional vice president for Coldwell Banker Residential Brokerage. Realtors work on behalf of the seller to see the transaction to its close -- managing all of the marketing, advertising and negotiation needs along the way.

Free and clear? Using free or discounted real estate services doesn't mean that the real estate process is without expense. Sellers take on the cost of producing fliers, brochures, signage and ads, which are normally covered by a Realtor. Plus, the seller is still responsible for paying a commission if the buyer is represented by a broker (usually 2.5 percent).

Prickly negotiations. Sellers need to evaluate how comfortable they are negotiating the sale without an intermediary. This can be a highly emotional process especially when a potential buyer has complaints about the home or requests specific contingencies. Plus, not all buyers are alike when it comes to being pre-approved for a home loan.