Quite often I get calls from a frantic parent asking what to do with a childs loose tooth. While this can be a traumatic event around the household, it is rarely something that can't be remedied at home.
First of all, if it's loose from trauma, you should probably see the dentist just to make sure that there hasn't been any hidden damage that needs to be addressed.
If it's loose because it's time for it to naturally fall out, usually with a little wiggling, the tooth will pop out. By far, the best technique that I have found is to use a little ora-jel (or similar benzocaine product) around the gums, then let your child gently twist on the tooth. If it's ready to come out, the twisting motion will do the trick, and if it's not ready to come out, it will be uncomfortable for the child to twist and you need to wait and try again tomorrow.
Really, the only time that you should involve the dentist to pull a loose baby tooth is if it is interfering with your childs sleep or eating (or if the drama is driving you crazy). Otherwise, let mother nature do her thing.