Having bought and sold dozens of properties over many years, both with and without brokers, I can categorically state that almost no one should do it without a carefully-selected broker.
There are so many pitfalls a broker can steer you away from, so many negotiating tactics to alert you to, so much paperwork, and so much market information a good broker can bring to the average buyer or seller, that it is just naive to worry about the 3 – 5% (not 7%) they will cost.
Frankly, the biggest advantage of having an agent for each side is to insulate the buyer and seller from each other. This is a zero-sum game and it is impossible for egos to not get in the way. Good brokers keep everything civil and know how to move the deal along past the landmines.
In today’s market, with sellers in denial, the seller’s agent can be the best friend the buyer ever had. They can pound some sense into their head and get the sale done.
Admittedly, a lot of agents and brokers are NOT capable, or hard working, or completely honest. But a lot are–your job is to find them.
