I have a couple of interesting points to discuss on the topic.
I recently sold a town home where a private sale fell through. The buyer and seller had an appraisal and agreed upon $583,000 as the sale price. When the buyer backed out I immediately listed the property at $599,000.00 and in two weeks sold it. I was able to generate more showings and multiple offers with a final price of $618,000. This was $17,000 more than the seller would have made privately.
The other side of selling real estate these days is the amount of paperwork and supporting documents a seller is legally required to provide. Even if the seller isn't personally aware of those documents legal consequences occur.
Here's one example of the confusion that can happen in an article about engineer reports.
In most cases when a property is listed with a realtor we'll have already pre-qualified the buyer with most of the documents pertaining to the property.
The article is a few years old must still extremely good information.