ZipRealty announced their Q3 numbers today and I’m a little surprised, I wasn’t expecting such growth in number of transactions.
Highlights:
- 5,019 transactions in Q308 compared to Q307 (up 31%) (though revenue only increased from $27.2m to $30.7m)
- 2,814 agents up from 2,263 from end of Q307
- Net revenue per transaction has declined from $7,110 to $6,130.
- Operating expenses are flat at around $34m
- Still losing money
- Has $60m in the bank
So they’re doing more deals, but the deals are smaller and they’ve added a lot of agents. I wonder if their increase in transactions is a result of expansion or are they also seeing an increase in transactions in their mature markets?