BrokerageIndustry News

ZipRealty posts $2.1M Q4 loss

Company projects up to 20% revenue growth in 2010
Published on Mar 10, 2010

ZipRealty Inc. boosted revenue by 14.6 percent in 2009, to $120.7 million, helping the company trim its annual loss to $12.9 million, down 3.4 percent from 2008.In the final three months of the year, the Emeryville, Calif.-based brokerage company handled 6,355 transactions, a 46.6 percent increase from the same period a year ago.Revenue was up less dramatically, growing 35.4 percent to $33.9 million, as average net revenue per transaction fell by 7.6 percent from a year ago, to $5,199.ZipRealty nevertheless posted a $2.1 million loss for the quarter, down from $2.7 million a year ago.At the end of the year, the company employed 3,085 agents, up 9.5 percent from the same time a year ago, but down 3.7 percent from the 3,205 agents employed at the end of September.In a press release, ZipRealty President and Chief Executive Officer Pat Lashinsky said the company is committed to continued growth in market share and listings, and will target referral revenue by "partnering with brands t...

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