Vicki Shaughnessy took great pride in putting the “For Sale By Owner” sign in the front yard of her house at 3812 Pinnacle Circle.

To Shaughnessy, it is a sign that says savings are to come.

“When I bought this house we never used a Realtor, we used a title company, and everything was taken care of by them,” Shaughnessy said. “We didn’t have any trouble.”

Cutting out real estate agents can put more money in a seller’s pocket, she said. But real estate professionals warn that selling a home can be time consuming and risky  both legally and financially.

In a typical real estate deal, the buyer is represented by a real estate agent who lists the house for sale and is entitled to a commission for getting the house sold and handling the details. Often, the seller is represented by another agent. The agent that listed the house and the agent representing a buyer typically split a commission that’s about 6 percent of the sale price. On a $250,000 home sale, that would amount to about $15,000.

By acting as their own listing agents, sellers can keep the part of the commission that otherwise would go to an agent representing them. And if the deal is done between a buyer and seller without any agents, both parties could save some money.

Of course, there are other costs to consider such as advertising expenses, attorney’s fees and other fees a seller must pay. Shaughnessy estimates that after those costs, most Lawrence homeowners would save from $3,000 to $4,000 by selling their own home.

And real estate agents caution there’s more to consider than just saving money. Sellers also should consider the cost of their time and the pitfalls they’ll have to face. Owners have to be available to show their home, negotiate on offers, set up inspections and write up a contract, among other issues.

Potential do-it-yourselfers also should account for the risk they are taking, both legally and financially, if something were to go wrong with the sale.

“Not knowing all the rules and regulations, you can run into problems at closing,” said Jan Brighton of Stephens Real Estate. “A good licensed Realtor will do everything for you and make your closing go as smooth as silk.”

Handling contracts can be particularly problematic.

Chris Forbes of North American Mortgage advises anyone who is not familiar with drawing up a contract to seek professional help.

“Because you want to have a contract that everyone agrees to, if there’s not a Realtor involved  go see an attorney,” Forbes said.

Factoring in how much an attorney will charge to draw up a contract or review one that you have written is a cost that home owners sometimes forget to consider.

“The money you think you’re going to save by not using a Realtor can quickly slide away,” Forbes said.

Forbes and Brighton said a bigger challenge for home owners may be finding interested buyers. Real estate agents generally have an advantage in finding potential buyers because they have greater networking opportunities, and finding buyers is what they have been trained to do.

Shaughnessy said there are things home owners can do to help themselves. She takes pictures of her home to real estate offices and tells agents the home is available. Then, real estate agents can tell interested clients about the home and give them a tour.

Shaughnessy also uses classified advertising. She said she’s run classified ads for two days and has received calls from eight interested buyers.

Harley George is another homeowner who has decided to sell his home, 2409 Haversham Drive, without a real estate agent. He said he knows there are risks but says it works well for someone like him who is retired and has time to worry about the details.

“If you add on 7 percent, that’s a lot of money for both sides to pay; you save money by putting it up yourself,” George said.

He said he believed following one simple rule will keep most home owners out of trouble.

“You have to be honest about your house when selling it,” he said. “That’s the most important thing.”