Pro - you pay less commissin. You may pay no commission but you may pay the commission to the buyers agent if the buyer is using an agent.
Con - See he list below. Many sellers don't realize all of the activities that an experienced agent does and what they do to earn their money. Here is a list of activities that I provide for my sellers.
1. Market Analysis provided based on current market conditions.
2. Home entered into the local multiple listings site.
3. Home entered into about 50 additional home sites (including Trulia which does not allow owners to list their own homes).
Property emailed out to my email list of over 300 local real estate agents.
4. Professional pictures of the property for all advertising.
5. Professional brochures.
6. Secure lock box placed on the property for showings and sign for advertising in the front yard.
7. The office accepts phone calls for showings and then notifies you - very professional and always available during business hours.
8. Weekly feedback on all showings that took place.
9. Proven negotiating skills to help you get the best price and terms for your property.
10. Assistance in navigating the contract process.
11. Assistance through the inspection process done by the buyer.
12. Provide comparable properties to the appraiser to help support value.
13. Provide a net proceeds worksheet so you know exactly what to expect from your closing.
14. Stay in contact with the buyers agent and/or lender to make sure there are no problems or if there are to help work through them.
15. Review closing docs and figures to ensure accuracy.
This list doesn't include if I do an open house to have brokers look at the property and other items that I try to individualize to specific properties. In a typical transaction I log over 50 phone calls, and mutiple emails and texts, put out money upfront for advertising and put in approximately 55 hours of work between my assistant and myself.
I'm glad us agents make it look so easy that people think they can do it themselves but reality is a different thing.