For Sale By Owner deals have a history of crashing. Relators will advise you against it and can quote some actual horror stories. However, many 'FSBO's do close and the sellers save many, many thousands of dollars in commission payments.
There are specific laws and regulations for selling real estate spelled out by the Colorado Department of Real Estate. When a licensed broker is involved they have specific fiduciary responsibilities to properly conduct the disclosures, contracts and closing. The main reason that most For Sale By Owner deals fail to close is because neither party understands the various processes required for getting to a proper closing. A licensed broker knows how and is legally bound to do it right.
Acting as your own agent you market the property, take the calls and arrange for prospects to come over for a showing. Once you have a buyer and have an agreed sales price call me. I can write up the required legal documents and guide both sides through the closing process. This is officially called Transaction Brokerage. The cost for this service is $1,850-. (no Realtor or national franchise fees)
The buyer may ask you to pay his buyers agent's commission - that's a fully negotiable item, per Colorado law.