ZipRealty close to breaking even after downsizing

Q3 revenue down 27%, but expenses down more

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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.