Advice: I'm trying to do a FSBO in Monterey County, Ca.

[Jessie Huffey]

Hi All, Although I eventually plan to be much more involved as a real estate investor, my immediate need is for some advice on selling my home quickly FSBO and maximizing profit without paying a 5% commission (amounts to about $25,000 in my case). I have recently listed my home on Zillow for 510k (about 5k below market value) in Prunedale, Ca. (about 1 hour south of San Jose, Ca). I have had a lot of interest from buyers and real estate agents (who balk at my offer to give a 2% commission if they bring in buyer and handle closing process) who are planning to attend the showing, and I believe the level of interest is due to the fact that it is the lowest priced home in the area on the market now given the square footage and lot size. Because I am out of state, I am doing one showing next weekend and am betting this will generate at least one offer. If it does, what should be my next steps? Thanks!

[Colin Smith]

I may be a little biased here but I do believe you should consider using an agent, especially if you are out of state and don't know the process. Selling fast and FSBO also usually doesn't mix. Most people who are looking at FSBO are just looky-loo's who are trying to get a feel for the market but don't have any intention of buying right away. Then there is the evaluation of your property. Why put the house on the market for less than what its worth just so you can avoid the agent fees? Sounds like to me you're spending the money anyways whether its to an agent or by just asking less. A good agent should not only be able to sell your property at market value, but should also be able to negotiate in such a way to maximize the amount of money you can get for your home and take care of the whole process from showings to closing for you. In my opinion, and again I may be biased, I think you are making a mistake by trying to go the FSBO route.