Although a seller can be held civilly liable if known material defects are not disclosed — like water damage, cracks in the foundation or roof leaks — nothing guarantees they will.

In spite of the risks, many continue to sell on their own. That is driving down brokerage commission fees.

"A couple of years back, it was not uncommon to see 7 or 8 percent commissions," Sambrotto said. "That's down to 5 and 6 percent commissions and that's going to continue to drop."

Other independent sellers may opt for a limited-service contract, which costs a flat fee of $400 to $500 and lists a property on the Multiple Listing Service but does not bind the seller into contractual relationship with an agent.

"Let's face it, the majority of the homes that are sold are sold by Realtors," Dailey said. "If you can get massive exposure to the Realtor community, you certainly have got a better chance of selling your property."

But for independent sellers like Child, who spent a total of $45 in marketing his home, the savings speaks for itself.

"It didn't seem to be that hard," he said. "I would definitely do this again."

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E-mail: danderton@desnews.com