Edwardsville IL Homes for Sale and Real Estate

For Sale By Owner? Know the Numbers.

For Sale By Owner EdwardsvilleWe've been talking with a lot of homeowners in Edwardsville, Glen Carbon, Maryville, Troy and Collinsville, Illinois lately who have been trying to sell their homes as FSBOs -- For Sale by Owner. Many of them have been frustrated by the process and are wondering why more prospective buyers aren't viewing their homes.

While my partner, Kristina, and I respect their decision to try to sell on their own, we're finding that many homeowners we meet with aren't aware of the success and failure rates in the process. 

A new survey conducted this month by HomeGain.com again proves that sellers have a much greater change of getting their home sold using a professional.

In the survey, 83 percent of homeowners said they used an agent to sell their home, whereas 17 percent said they tried to sell it themselves. This closely aligns with results from the 2010 Profile of Buyers & Sellers from the National Association of Realtors, which found 88 percent of sellers were assisted by a real estate agent and 83 percent of buyers bought their home with the services of an agent.

Of the 83 percent of homeowners surveyed who used a listing agent to sell their home, nearly 60 percent were successful. Of the 17 percent who tried to sell on their own, just 39 percent surveyed achieved a sale. That's a 50 percent higher closing rate for Realtor-based attempts to sell.*

“It is especially striking that home owners fare significantly better in selling their homes using a REALTOR®  than selling on their own,” says Louis Cammarosano, general manager at HomeGain. “Due to that relative success, the level of satisfaction in the home selling process is also higher for home sellers utilizing the services of a REALTOR® than those who try to sell their homes on their own."

Other findings in the For Sale by Owner vs. REALTOR® survey include:

  • 88 percent of home owners who sold their homes using a REALTOR® said they would use a REALTOR® again.
  • 24 percent of FSBOs eventually contacted a REALTOR® to help sell their home.

Homes for Sale Edwardsville Kristina and I also took a look at the success/failure rate of the biggest flat fee MLS listing service in our area by comparing their listings to their expirations over the past year. Our research found that sellers using the flat fee service in our area had just a one in five chance of achieving a successful sale.

Remember that this flat fee listing service takes the seller's money up front whether the property sells or not (as opposed to a full-service listing in which the seller pays from his proceeds only when the home successfully closes). With this flat-fee service, homeowners pay extra for changes in the MLS or additional photos during the listing period or a variety of other extras. Homeowners using the flat fee service also have to conduct their own showings and open houses, which means a disruption in personal schedules. They also must handle their own negotiations on price and terms and inspection negotiations, often against an experienced buyer's agent. (The flat fee service also suggests that the home seller hire an attorney to review the contract before it is signed -- another expense.) The seller also has to pay a fee to the cooperating brokerage at closing if the buyer is represented by an agent. So when you consider the time and money spent by this point, why not use a full-service agent to make the process easier on yourself and to achieve a higher rate of success?

We'll conduct a complete market analysis on your home to help you place it in a highly competitive position in the local market. We'll market your home aggressively to the widest possible pool of buyers. We'll negotiate with buyers and their agents on your behalf. And we'll negotiate any inspection responses to watch out for your best interest. We'll handle the dozens of details that come up to get you to a successful closing.

In short, we understand why someone might try to sell on their own or with a flat fee service, but if you've tried it and it doesn't work out for you and you still need to sell, please get in touch with us at Nancy@GoshenRealtyGroup.com or 618-791-8007

*  Source: “HomeGain Survey Finds Home Sellers Fare 50% Better in Getting Their Homes Sold Using a REALTOR® Than Selling on Their Own,” HomeGain.com (Feb. 24, 2011)

Enjoy life in the (618) area code in Southwestern Illinois, St. Louis' Illinois suburbs. SEARCH FOR HOMES HERE.



I help good people buy and sell good homes in St. Louis' Illinois suburbs, with special emphasis on the Metro East communities of Edwardsville, Glen Carbon, Maryville, Collinsville, Troy and surrounding areas in Madison County, Illinois.

Are you a teacher, firefighter, law enforcement officer, medical professional or active duty or retired military? Then ask me about Homes for Heroes, offering substantial savings on home purchases. Learn more at Homes For Heroes.

For more information or to search for homes, visit my sites at NancyMilton.com618Life.com, or GoshenRealtyGroup.com or send an email to me at Nancy@GoshenRealtyGroup.com. Text or call Nancy Milton Holtzscher, your Edwardsville Realtor, at 618-791-8007 any time.

REMAX Preferred Partners is located at One 157 Center, Edwardsville, IL 62025, 618-791-8007 (direct) 618-655-1188 (office). We're easy to find on IL-157 in Edwardsville between Pasta House Co. and Shenanigans. Each office is independently owned and operated.

Comment balloon 2 commentsNancy Milton Holtzscher • February 25 2011 01:15PM
For Sale By Owner? Know the Numbers.
We've been talking with a lot of homeowners in Edwardsville, Glen Carbon, Maryville, Troy and Collinsville, Illinois lately who have been trying to sell their homes as FSBOs -- For Sale by Owner. Many of them have been frustrated by the process and… more
Census Figures Show Population Growth in Many Madison County Cities
The 2010 Census figures have been released and many Madison County, Illinois cities, towns and villages continued to grow in the last decade: Maryville grew by 61 percent from 2000 to 2010 to 7, 487 residents. The… more
FOR SALE: 5231 State Route 159, Edwardsville IL
FOR SALE: 5231 STATE ROUTE 159, EDWARDSVILLE IL This three-bedroom brick ranch is located just north of downtown Edwardsville and close to Southern Illinois University at Edwardsville -- SIUE You'll feel close to everything, but… more
Why Should I Care About Average Days on the Market? My House Isn't…
One of the important pieces of information we give our sellers when we're listing their homes for sale is called average Days on Market (DOM). That means the length of time a house -- on average -- will stay on the market from the day it is listed… more
Glen Carbon Short Sale Successfully Closed By Nancy & Kristina at…
Glen Carbon Short Sale Successfully Closed by Nancy & Kristina at Goshen Realty Group If you're a homeowner facing possible foreclosure, please read this success story carefully. You do have options. Don't let the lender foreclose without… more
Are You Ready to List Your Edwardsville Home For Sale?
Are you ready to list your Edwardsville home for sale? We like to call this time of year, "Selling Season. " It's that time when the serious buyers pop out -- much like the February groundhog -- to see what's on the market and… more
Here's Why I Am Begging You to Get Pre-Approved
It happened again just this week -- and we haven't even gotten to the most competitive time of year for home sales. Buyers who have thusfar refused to get a pre-approval in advance have lost out on another home. Someone else got their… more
Whoooo Are You? Who-Who? Who-Who?
You know that Who song at the beginning of the popular CBS TV show, CSI? "Whoooooo are you??? Who-Who? Who-Who? " Well that inquisitive little ditty has nothing on the staff at a title company who will need to know that you are who… more
FOR SALE: 3 Ginger Forest, Glen Carbon, IL
Yes, it's cold and snowy right now, but soon it will be warm here on the middle coast in St. Louis' Illinois suburbs. And that's why you'll want a home with a beauiful pool, but without the hassle that goes along with it. I have the solution… more
Do You Want a House or Do You Just Want a Deal?
Wish I had a dollar for every question I am getting from buyers asking, "I hear that the housing market is going down more. Why should I buy a house now? " Thanks for your question, but I have to tell you that you have just asked one… more