The viewpoint that the agent will get a superior sales outcome well worth the $10 000 or more he charges is wide spread. Other reasons to prefer agent sales are the vendors time constraints, a dislike for complexity by seller and buyer, low trust levels for both vendor and buyer, vendors learning curve, risks due to lack of expereince and limitations in exposure, especially off line. The agent has a "show room", a local presence and a client data base. He can redirect some traffic he gets from his other properties in the area.
Internet exposure has been rather limited as well in the past, because only smaller boutique companies have offered such an opportunity. But this has changed recently. For example Domain, which claims 3.4 million property seekers per month (23 May 2011) grants access to owner sellers. They charge about $ 500 for one month of advertizing (or less dependent on suburb).
Some people have started to use ebay, youtube and facebook to sell their properties. This is not a bad idea for a complimentary campaign.
The same holds true for a personal website. As a matter of fact, this is exactly what I doing right now. Why ? Cause my friend's property is in a remote area and it is quiet and very relaxed out there. Not much competition or interest up there. So I will give him a hand with creating a better remote campaign. You can check out my property sales website below. I have created it with weebly for free. My slideshow was made with animoto (small cost) and my pictures where edited with picnik within flickr (free). http://heyfield-lake-glenmaggie-cummins.weebly.com
This is an information site and I welcome feedback, discussion, opinion as I learn as I go. Walter, Melbourne, 23 may 2011.