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Well, another quarter, another 7.5MM$ loss. Since expenses at ZIPR are relatively constant, as they pay salaries rather than commissions, then adding more sales should cover this amount.

What would it take to make $7.5, assuming that the current agent revenue stays put?

-- The total number of transactions closed was 4,171, compared to 3,121 in the first quarter last year.
-- Average net transaction revenue per close decreased approximately 20.6% to $5,119 from $6,447 in the first quarter of 2008.

$7,500,000/$5,100 = 1500 additional sales (numbers rounded)

The good news is that 1500 additional sales per quarter comes out to: 36% above what they're doing today. That sounds promising, actually.

Also, the 1500 additional sales comes out to 1 additional sale per quarter per 2 agents (they now employ almost an even 3000 agents).

I think this is doable now that home prices are starting to stabilize. Should more areas flatline in 2009, we could potentially see a profit from ZIPR by the end of the year.

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