I would say it is more difficult to sell FSBO, with a condo but that depends on the signage you can get. I recommend using an agent but if you go the FSBO route get in contact with a local mortgage broker to qualify your buyers for you.

Kathy -
Andrew made a good point.
YOU want to save the 5% commission.
Buyers looking at FSBOs are looking to get a steal bc THEY are saving the 5% commission.
Bottom line - you can't BOTH save that same fee.

You could try to split it...

But then how much (if anything) would you actually be saving?
Interview at least 2 Realtors. Get a good sense of what has sold in the last two months.
Is your building FHA approved? This would allow Buyers to purchase with a smaller down payment...in comparison to the down payment required for non-FHA approved condo loans.

Rockinblu has great info in his blog.

Knowledge is power.
Know that when selling...Time is money and values are flat at best.
Pricing is key.
Price your home aggressively and consider offering a BUYER BONUS...
money that could be used toward closing costs or discounting the Buyer's interest rate/payment.

Incentives stimulate curiosity and interest...
"the lure of the prize may just be the catalyst for the sale"
Good luck with your decision.

Kathy
I would encourage you to talk with at least two Realtors and have them provide you with an analysis of your situation. We receive a lot of posts like yours and the normal reason that people want to sell without professional representation is that they want to save the cost of commission so they can net more at closing.

In a "hot market", homes sell quickly, even if they are over-priced. I've seen buyers pay over what I think is market value, get a loan, and buy the home.

However, most markets are not "hot". Home values have declined, so the real question I would suggest you ask yourself is this: How badly do I want to move? It is a "want to move" or "have to move, have no options"?

In most markets there is a lot of inventory, a lot of which is "first time buyer" inventory like condos, townhomes, and lower-priced single family homes. So the reason that you want to save the cost of commission is so you sell your home at t a lower price...but what if even THAT price is above market value?

So rather than go through a very frustrating process of trying to sell on your own, and not being able to do it, how about talking with two REaltors, compare their analysis, THEN decide what to do. It may be with the true market value of your home that the only way you'll be able to sell is if you bring money to the closing table, which brings up the question - why am i selling? For a new job in a new area, it might be worth it to take a loss. If it's for other reasons, maybe you could rent it out (if the HOA will allow you to do so, and beware that your lender may require that you refinance if your loan was based on owner-occupied.

The other big problem we are having is with appraisals. On May first new appraisal procedures were mandated and we are having a lot of properties appraise for UNDER market value. This means that even if you found a buyer who would buy your home, what if the lender's appraiser says that it is not worth the price that you agreed to sell? That means that the buyer needs to come up with cash, or you need to reduce the price, or some combination.

Good luck.

I wouldn't even begin to advise you on what you should do regarding going FSBO, or with an agent. That being said, it seems that condos and townhouses are a lttle tougher sell these days. What I can do is post the two links below. The first one is to a blog on selecting an agent, and the second one is to one on doing a FSBO. Good luck on whatever you decide.

http://www.trulia.com/blog/rockinblu/2008/12/i_ve_got_my_fin…

http://www.trulia.com/blog/rockinblu/2008/08/thinking_about_…

I firmly disagree with Ann Marie below. Real estate will sell at the fair market value IF IT IS MARKETED WELL. If no one knows about it - you have no way of knowing if you got a full sampling of buyers. In my opinion, all Realtors are not created equal either. A good Realtor is a must unless your a well-seasoned seller that's seen it all and have a firm handle on marketing. When you interview Realtors (and you should whether you hire one or not) ask them what their Original Price:Sale Price ratio is for a whole year, or even for the last 5 years. Also ask about their average days on market. This will give you a sense of how efficient they are.

The key to a successful sale is guerrilla marketing campaign/aggressive pricing/expert negotiating. With each day that your home is on the market - the less likely you will be to get your asking price.

HI Home Seller!
Everything sells at the right price! That is the easy part. It is all the small details and the big legalities that you have to look out for! There is a ton of great information on my real estate blog for for sale by owners and if youd like you can email/text/call me direct and I can help you through some of the details! ( FOR FREE of course!!!LOL)

annmariebelair@comcast.net
annmarie sells ( REBLOG) http://www.annmariebelair.com
(508)523-2676 cell #

My honest opinion is if you have never sold a property before, you will be better off with a realtor.

If your property is priced correctly it will sell. Most folks that I deal with on the mortgage side that are making offers on FSBO's look at the comparable sales. Figure out the amount they would offer and reduce the figure by 5% the same as you would be paying except you have the headaches that go along with knowing what needs to happen to sell a property. I am in no way condoning the math or the vaidity of the stratagy, I am just telling you what I hear when a buyer is making an offer on a FSBO.