BrokerageIndustry News

ZipRealty close to breaking even after downsizing

Q3 revenue down 27%, but expenses down more
Published on Nov 2, 2011

Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

Technology-based brokerage ZipRealty Inc. says it's closer to its goal of achieving positive cash flow, trimming third-quarter losses to under $1 million even as revenue fell 18 percent from a year ago.

Net revenue for July, August and September totaled $23.3 million as ZipRealty agents tallied 3,706 transaction sides, down 27 percent from a year ago. But average net transaction revenue per closing grew by nearly 12 percent from a year ago, to $5,943, the company said in announcing third-quarter results.

Comments