Buried in an Inman News story about ZipRealty’s second quarter revenues was this morsel:
The company employed 2,070 agents as of June 30, up 24 percent compared to its agent count at the close of second-quarter 2006. ZipRealty’s value of real estate transactions closed climbed to $1.41 billion in second-quarter 2007, up 10.6 percent compared to second-quarter 2006 …
… Average agent productivity is expected to be approximately 0.6 to 0.7 transactions per agent per month, with average net revenue per transaction of about $6,500 to $7,000.
Wait, what?
Average agent productivity is 0.65 transactions per month???
I think that’s a low average, and especially low for a company such as ZipRealty, whose business model seems to be based on quantity, not quality.
I’m just sayin’ …
Source: ZipRealty announces $1 million Q2 loss – Inman News (may not be available without subscription)
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