For homeowners, there are thousands of reasons to bypass real estate agents and sell your property yourself. "If you cut out all agents...you would essentially cut out on average about 6 percent of commission," says Greg Healy, vice president of operations at ForSaleByOwner.com, a Web-based company that markets homes for independent sellers. "On a $300,000 home, that's about $18,000 of savings." But despite this huge potential savings, many home sellers—especially in today's tough housing market—feel that a real estate agent's expertise is essential.

Selling a home without an agent isn't for everyone - it takes more than just planting for-sale signs in the neighborhood.

"Most sellers throw in the towel after 30 to 45 days," says Michael Kloian, author of "Sell It by Owner and Save" (H-2 Press, $17.95). "They just don't know what they don't know."