With real estate analysts still acting spooked by the jittery housing market, Tickermine surveyors consulted various realtors around the nation, asking whether market bottom prices had been reached in their area, how much further would housing prices drop, what were the realtors commission rates and are these dwindling? 31 realtors including Century 21, Remax, Coldwell Banker but also smaller businesses were consulted. The figures were interesting. Sixteen or 52% felt that house prices had reached rock bottom in their area but closely, 15 or 48% felt the worse was to come. Ten people or 32% of respondents felt that their market could drop another 1-5%. Eight or 26% said the prices will not drop any further. Six people or 19% said prices will drop another 10%. Five or 16% of those polled predicted another 15% drop and two or 6% of respondents saw prices still dropping another 20%. Nobody would disclose if their commission rates might lower but 13 or 42% said their commissions were 6-10%, 11 or 35% said 2-5% and 5 or 16% said 15-20%. The average commission rate, we concluded, was 7%.

Commissions Remain Solid Overall

With the real estate market still tanking nation-wide, what better time for a US realtors survey? Tickermine polled 35 prominent and smaller, mom and pop real estate agencies this month asking agents what their commission rates were and whether these were dwindling, is now the market bottom for houses in their areas and if not, when will the prices likely plummet? Responses were grim, but not as bad as one would think. Asked whether housing prices were at rock bottom, eight or 27% of polled agents replied that prices had reached their worst while 19:35 or 73% said the worst was yet to come. Respondents thought the true turmoil would arrive anywhere between a few months from now, to Q4 and even another year from now. Most thought the downturn would last at least another three months. Asked how much further prices would drop and 11 respondents or 44% thought the market would drop another 3% or less. Seven or 27% thought the market could drop another 7 to 10%. Four respondents or 15% saw the market dropping a further 3 to 6%, two or eight % saw a future drop of 10 to 15% while one respondent or 3% saw a heftier drop of 16%. In spite of the storm, realtors are holding firm on their commissions, probably because sellers need agents more than before, one agent ventures. The majority, 15 respondents or 58% of those polled cited commissions of four to seven %. Eight respondents or 32% cited lower commissions of below 3%. Of those polled, 12 (34%) said they would not and have not budged on commissions. Five respondents or 14% said their commissions had lowered some.

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