Real estate editor Maryann Haggerty and columnist Elizabeth Razzi respond to a question adapted from a recent online chat.

Q Gaithersburg: We're thinking about listing our house FSBO [for sale by owner], having done extensive research into what that will entail. We bought it in 2005 and hope to break even or make a slight profit, but we know there's a chance we could lose money. We're thinking of offering 3.5 or 4 percent to a buyer's agent. That's better than standard, but would still save us 2 percent off a standard split commission. What do you think?

A Elizabeth Razzi: My first thought is that your asking price will be more important than any incentives you offer to agents. It's tough to come up with a good asking price in this market, even when you've hired an agent to help you. If you're selling on your own, you need to price the home low enough to stand out from competing listings. Buyers are likely to want that 2 percent you expect to save on commission. Also, don't forget, you'll have to spend some cash on advertising, a yard sign and other marketing costs.

Maryann Haggerty: That said, things shouldn't work this way, but they do. A higher commission offered to the buyer's agent tends to bring in more possible buyers.

Also, consider working with a fixed-fee service that will list your house on the multiple-listing service. That's the font of all information for the Web sites where many buyers start their searches.

E.R.: The FSBO strategy just might pay off for you, especially if you're aggressive about marketing. You may be willing to spend more on advertising than an agent would, especially because they're juggling more listings, for a longer time, than usual. Just be aware that buyers today want deals, regardless of who's handling the sale.

M.H.: And they want deals on great houses. Make sure your place shows just as well if not better than all the agent-represented homes that are your competition.

The next Real Estate Live chat will be at 1 p.m. May 30.