For Sale By Owner

The NAR has compiled nationwide data, just do a google search and you can find it. 80-90% end up with a broker, as I recall.

But nationwide is not Manhattan. In my experience right now, most (not all) are either hiring a broker or giving up trying to sell because they lose too much money by selling. One FSBO I was hanging out with got his apartment featured in the New York Times RE section on a Sunday--the one-page spread where they show things for sale around the region--and that got him a signed contract within 4 weeks. But the Times featured it because it was very desirable, unusual and well-priced, so he might have sold it on his own even w/o that nice boost.

The FSBOs who are just dying are the ones with apartments where every window looks out onto a brick wall, and they paid too much originally. People who have apartments with "fatal flaws" like that really have no choice but to hire a broker, because they don't have access to enough advertising. I don't know any such apartments that sold while broker-less. But I do know of a couple nice places that the owner eventually sold.

{Manhattan real estate agent.}

Ali, are you familiar with this report from '07?
http://graphics8.nytimes.com/packages/pdf/business/20070608RealEstateMarketingStudy.pdf

The study found that MLS listings take less time to sell but that the prices are equivalent. One of the few (relatively) rigorous academic studies, although it compares a small and specific market with a well-developed FSBO website. Still, interesting for DIY-ers, no? And I would suggest that the fatally flawed apartments you describe are pretty much languishing even *with* brokers in this market.

We sold out apt w/o a broker in 4 weeks and jsut used NYT

If you want to get on MLS for free check out freeltor.com