Beruflich Dokumente
Kultur Dokumente
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have no marketing budget to speak of, and compete against marketing behemoths like Century 21. Unlike other venture-funded real
estate sites, our search site offers direct access to the MLS broker databases for a complete view of inventory, and when we broker a
deal, our agents are paid customer satisfaction bonuses, not commissions. Having completed over 1,000 transactions in our first year of
service, we have the highest customer satisfaction rate in the industry. Enjoy the model!
Six-Year Projections
Markets Entered
Total Number of Markets
2007
2008
2009
2010
2011
6
6
3
9
2
11
2
13
2
15
Offers Revenue
Listings Revenue
New Service #1 Revenue
New Service #2 Revenue
Total Revenues
Growth Rate
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Headquarters Costs
Headquarters Costs as % of Revenue
Total Operating Costs
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1 of 40
$10
Total Revenues
Total Expenses
Net Operating Income
$8
$6
$4
$2
$0
2007
2 of 40
2008
2009
2010
2011
$10
Total Revenues
$8
$6
$4
$2
$0
2007
3 of 40
2008
2009
2010
2011
Metric
# of Markets
Offers Signed
Listings Signed
New Service Transactions
Headcount
Jan-07
2
#VALUE!
#VALUE!
0
#VALUE!
Feb-07
4
#VALUE!
#VALUE!
1
#VALUE!
Mar-07
4
#VALUE!
#VALUE!
1
#VALUE!
Apr-07
4
#VALUE!
#VALUE!
1
#VALUE!
May-07
5
#VALUE!
#VALUE!
1
#VALUE!
Jun-07
6
#VALUE!
#VALUE!
1
#VALUE!
Jul-07
6
#VALUE!
#VALUE!
1
#VALUE!
Aug-07
6
#VALUE!
#VALUE!
1
#VALUE!
Sep-07
6
#VALUE!
#VALUE!
1
#VALUE!
Oct-07
6
#VALUE!
#VALUE!
1
#VALUE!
Nov-07
6
#VALUE!
#VALUE!
1
#VALUE!
Dec-07
6
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
Revenues
Offers Closed
Listings Closed
New Service Closed
Total Revenue
Jan-07
#VALUE!
#VALUE!
$0
#VALUE!
Feb-07
#VALUE!
#VALUE!
$10,000
#VALUE!
Mar-07
#VALUE!
#VALUE!
$10,000
#VALUE!
Apr-07
#VALUE!
#VALUE!
$10,000
#VALUE!
May-07
#VALUE!
#VALUE!
$10,000
#VALUE!
Jun-07
#VALUE!
#VALUE!
$10,000
#VALUE!
Jul-07
#VALUE!
#VALUE!
$10,000
#VALUE!
Aug-07
#VALUE!
#VALUE!
$10,000
#VALUE!
Sep-07
#VALUE!
#VALUE!
$10,000
#VALUE!
Oct-07
#VALUE!
#VALUE!
$10,000
#VALUE!
Nov-07
#VALUE!
#VALUE!
$10,000
#VALUE!
Dec-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Operating Costs
Payroll
Payroll Taxes
Benefits
Contractors
Recruiting Fees
Rent
Data Expenses
Market Expansion Costs
Insurance
Office Expenses
Travel & Entertainment
Company Events
Office Telephone & Broadband
Server Hosting & Broadband
Marketing Programs
Legal Services
Accounting Services
IT Services
Net Operating Costs
Net Operating Income
Jan-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$200
#VALUE!
#VALUE!
$0
#VALUE!
$5,000
$160
$12,700
$3,750
$1,000
#VALUE!
#VALUE!
Feb-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$400
#VALUE!
#VALUE!
$0
#VALUE!
$5,000
$370
$12,900
$3,750
$1,000
#VALUE!
#VALUE!
Mar-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$10,000
$400
#VALUE!
#VALUE!
$0
#VALUE!
$5,000
$390
$12,900
$3,750
$1,000
#VALUE!
#VALUE!
Apr-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$10,000
$400
#VALUE!
#VALUE!
$0
#VALUE!
$5,000
$400
$12,900
$3,750
$1,000
#VALUE!
#VALUE!
May-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$500
#VALUE!
#VALUE!
$0
#VALUE!
$5,000
$550
$13,000
$3,750
$1,000
#VALUE!
#VALUE!
Jun-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$600
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$5,000
$675
$13,100
$3,750
$1,000
#VALUE!
#VALUE!
Jul-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$600
#VALUE!
#VALUE!
$0
#VALUE!
$5,000
$675
$13,100
$3,750
$1,000
#VALUE!
#VALUE!
Aug-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$600
#VALUE!
#VALUE!
$0
#VALUE!
$5,000
$675
$13,100
$3,750
$1,000
#VALUE!
#VALUE!
Sep-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$600
#VALUE!
#VALUE!
$0
#VALUE!
$5,000
$645
$13,100
$3,750
$1,000
#VALUE!
#VALUE!
Oct-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$600
#VALUE!
#VALUE!
$0
#VALUE!
$5,000
$600
$13,100
$3,750
$1,000
#VALUE!
#VALUE!
Nov-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$600
#VALUE!
#VALUE!
$0
#VALUE!
$5,000
$555
$13,100
$3,750
$1,000
#VALUE!
#VALUE!
Dec-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$600
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$5,000
$540
$13,100
$3,750
$1,000
#VALUE!
#VALUE!
Other Income/Expense
Interest Income/(Expense)
Depreciation
Net Income
Jan-07
#VALUE!
#VALUE!
#VALUE!
Feb-07
#VALUE!
#VALUE!
#VALUE!
Mar-07
#VALUE!
#VALUE!
#VALUE!
Apr-07
#VALUE!
#VALUE!
#VALUE!
May-07
#VALUE!
#VALUE!
#VALUE!
Jun-07
#VALUE!
#VALUE!
#VALUE!
Jul-07
#VALUE!
#VALUE!
#VALUE!
Aug-07
#VALUE!
#VALUE!
#VALUE!
Sep-07
#VALUE!
#VALUE!
#VALUE!
Oct-07
#VALUE!
#VALUE!
#VALUE!
Nov-07
#VALUE!
#VALUE!
#VALUE!
Dec-07
#VALUE!
#VALUE!
#VALUE!
4 of 40
Capital Expenses
Office Move
Telephone System & Software
Office Servers
Network Expansion
CRM & ERP Systems
Production Servers & Equipment
Development Lab Equipment
Employee Set Up: Computers, Desk
Total Capital Expenses
$0
$10,000
$2,500
#VALUE!
#VALUE!
Feb-07
$0
$0
$40,000
$0
$0
$10,000
$2,500
#VALUE!
#VALUE!
Mar-07
$0
$0
$0
$0
$30,000
$10,000
$2,500
#VALUE!
#VALUE!
Apr-07
$0
$60,000
$0
$0
$0
$10,000
$2,500
#VALUE!
#VALUE!
May-07
$0
$0
$0
$0
$0
$10,000
$2,500
#VALUE!
#VALUE!
Jun-07
$0
$0
$0
$0
$0
$10,000
$2,500
#VALUE!
#VALUE!
Jul-07
$0
$0
$0
$30,000
$0
$10,000
$2,500
#VALUE!
#VALUE!
Aug-07
$100,000
$0
$0
$0
$0
$10,000
$2,500
#VALUE!
#VALUE!
Sep-07
$0
$0
$0
$0
$0
$10,000
$2,500
#VALUE!
#VALUE!
Oct-07
$0
$0
$0
$30,000
$0
$10,000
$3,333
#VALUE!
#VALUE!
Nov-07
$0
$0
$0
$0
$0
$10,000
$3,333
#VALUE!
#VALUE!
Dec-07
$0
$0
$0
$0
$0
$10,000
$3,333
#VALUE!
#VALUE!
Jan-07
#VALUE!
Feb-07
#VALUE!
Mar-07
#VALUE!
Apr-07
#VALUE!
May-07
#VALUE!
Jun-07
#VALUE!
Jul-07
#VALUE!
Aug-07
#VALUE!
Sep-07
#VALUE!
Oct-07
#VALUE!
Nov-07
#VALUE!
Dec-07
#VALUE!
Ratio Analysis
Revenue per Headcount
Revenue per REOPS Employee
Revenue per Agent
Revenue per Market
Expenses per Headcount
Expenses per Market
EBITDA per Headcount
EBITDA per Market
Labor $ per Closed Transaction
Marketing $ per Closed Transaction
All Other $ per Closed Transaction
Profit per Closed Transaction
Jan-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
5 of 40
Jan-07
$0
$0
$0
Metric
# of Markets
Offers Signed
Listings Signed
New Service Transactions
Headcount
Jan-08
6
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-08
6
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-08
6
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-08
6
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-08
6
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-08
9
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-08
9
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-08
9
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-08
9
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-08
9
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-08
9
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-08
9
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2007
6
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2008
9
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Revenues
Offers Closed
Listings Closed
New Service Closed
Total Revenue
Jan-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2007
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2008
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Operating Costs
Payroll
Payroll Taxes
Benefits
Contractors
Recruiting Fees
Rent
Data Expenses
Market Expansion Costs
Insurance
Office Expenses
Travel & Entertainment
Company Events
Office Telephone & Broadband
Server Hosting & Broadband
Marketing Programs
Legal Services
Accounting Services
IT Services
Net Operating Costs
Net Operating Income
Jan-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$600
#VALUE!
#VALUE!
$0
#VALUE!
$10,000
$480
$13,100
$5,000
$1,000
#VALUE!
#VALUE!
Feb-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$600
#VALUE!
#VALUE!
$0
#VALUE!
$10,000
$510
$13,100
$5,000
$1,000
#VALUE!
#VALUE!
Mar-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$600
#VALUE!
#VALUE!
$0
#VALUE!
$10,000
$570
$13,100
$5,000
$1,000
#VALUE!
#VALUE!
Apr-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$30,000
$600
#VALUE!
#VALUE!
$0
#VALUE!
$10,000
$600
$13,100
$5,000
$1,000
#VALUE!
#VALUE!
May-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$600
#VALUE!
#VALUE!
$0
#VALUE!
$10,000
$675
$13,100
$5,000
$1,000
#VALUE!
#VALUE!
Jun-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$900
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$10,000
$1,050
$13,400
$5,000
$1,000
#VALUE!
#VALUE!
Jul-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$900
#VALUE!
#VALUE!
$0
#VALUE!
$10,000
$1,050
$13,400
$5,000
$1,000
#VALUE!
#VALUE!
Aug-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$900
#VALUE!
#VALUE!
$0
#VALUE!
$10,000
$1,050
$13,400
$5,000
$1,000
#VALUE!
#VALUE!
Sep-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$900
#VALUE!
#VALUE!
$0
#VALUE!
$10,000
$990
$13,400
$5,000
$1,000
#VALUE!
#VALUE!
Oct-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$900
#VALUE!
#VALUE!
$0
#VALUE!
$10,000
$900
$13,400
$5,000
$1,000
#VALUE!
#VALUE!
Nov-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,000
$900
#VALUE!
#VALUE!
$0
#VALUE!
$10,000
$810
$13,400
$5,000
$1,000
#VALUE!
#VALUE!
Dec-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,000
$900
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$10,000
$740
$13,400
$5,000
$1,000
#VALUE!
#VALUE!
2007
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$20,000
$6,100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$60,000
$6,235
$156,100
$45,000
$12,000
#VALUE!
#VALUE!
2008
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$46,000
$9,300
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$120,000
$9,425
$159,300
$60,000
$12,000
#VALUE!
#VALUE!
Other Income/Expense
Interest Income/(Expense)
Depreciation
Net Income
Jan-08
#VALUE!
#VALUE!
#VALUE!
Feb-08
#VALUE!
#VALUE!
#VALUE!
Mar-08
#VALUE!
#VALUE!
#VALUE!
Apr-08
#VALUE!
#VALUE!
#VALUE!
May-08
#VALUE!
#VALUE!
#VALUE!
Jun-08
#VALUE!
#VALUE!
#VALUE!
Jul-08
#VALUE!
#VALUE!
#VALUE!
Aug-08
#VALUE!
#VALUE!
#VALUE!
Sep-08
#VALUE!
#VALUE!
#VALUE!
Oct-08
#VALUE!
#VALUE!
#VALUE!
Nov-08
#VALUE!
#VALUE!
#VALUE!
Dec-08
#VALUE!
#VALUE!
#VALUE!
2007
#VALUE!
#VALUE!
#VALUE!
2008
#VALUE!
#VALUE!
#VALUE!
6 of 40
Capital Expenses
Office Move
Telephone System & Software
Office Servers
Network Expansion
CRM & ERP Systems
Production Servers & Equipment
Development Lab Equipment
Employee Set Up: Computers, Desk
Total Capital Expenses
Jan-08
$0
$0
$0
$30,000
$0
$15,000
$3,333
#VALUE!
#VALUE!
Feb-08
$0
$0
$0
$0
$0
$15,000
$3,333
#VALUE!
#VALUE!
Mar-08
$0
$0
$0
$0
$0
$15,000
$3,333
#VALUE!
#VALUE!
Apr-08
$0
$0
$0
$30,000
$0
$15,000
$3,333
#VALUE!
#VALUE!
May-08
$0
$0
$0
$0
$0
$15,000
$3,333
#VALUE!
#VALUE!
Jun-08
$0
$0
$0
$0
$0
$15,000
$3,333
#VALUE!
#VALUE!
Jul-08
$0
$0
$0
$30,000
$0
$15,000
$3,333
#VALUE!
#VALUE!
Aug-08
$0
$0
$0
$0
$0
$15,000
$3,333
#VALUE!
#VALUE!
Sep-08
$0
$0
$0
$0
$0
$15,000
$3,333
#VALUE!
#VALUE!
Oct-08
$0
$0
$0
$30,000
$0
$15,000
$3,333
#VALUE!
#VALUE!
Nov-08
$0
$0
$0
$0
$0
$15,000
$3,333
#VALUE!
#VALUE!
Dec-08
$0
$0
$0
$0
$0
$15,000
$3,333
#VALUE!
#VALUE!
2007
$100,000
$60,000
$40,000
$60,000
$30,000
$120,000
$32,500
#VALUE!
#VALUE!
2008
$0
$0
$0
$120,000
$0
$180,000
$40,000
#VALUE!
#VALUE!
Jan-08
#VALUE!
Feb-08
#VALUE!
Mar-08
#VALUE!
Apr-08
#VALUE!
May-08
#VALUE!
Jun-08
#VALUE!
Jul-08
#VALUE!
Aug-08
#VALUE!
Sep-08
#VALUE!
Oct-08
#VALUE!
Nov-08
#VALUE!
Dec-08
#VALUE!
2007
#VALUE!
2008
#VALUE!
Ratio Analysis
Revenue per Headcount
Revenue per REOPS Employee
Revenue per Agent
Revenue per Market
Expenses per Headcount
Expenses per Market
EBITDA per Headcount
EBITDA per Market
Labor $ per Closed Transaction
Marketing $ per Closed Transaction
All Other $ per Closed Transaction
Profit per Closed Transaction
Jan-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2007
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2008
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
7 of 40
Operating Costs
# of Markets
Total Revenue
Headcount
Headcount Costs
Data Expenses
Marketing Program Expenses
Office Expenses
Net Operating Costs
Net Operating Income
Q1 2007
4
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$920
#VALUE!
#VALUE!
#VALUE!
Q2 2007
6
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$1,625
#VALUE!
#VALUE!
#VALUE!
Q3 2007
6
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$1,995
#VALUE!
#VALUE!
#VALUE!
Q4 2007
6
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$1,695
#VALUE!
#VALUE!
#VALUE!
Q1 2008
6
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$1,560
#VALUE!
#VALUE!
#VALUE!
Q2 2008
9
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$2,325
#VALUE!
#VALUE!
#VALUE!
Q3 2008
9
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$3,090
#VALUE!
#VALUE!
#VALUE!
Q4 2008
9
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$2,450
#VALUE!
#VALUE!
#VALUE!
Q1 2007
#VALUE!
#VALUE!
Q2 2007
#VALUE!
#VALUE!
Q3 2007
#VALUE!
#VALUE!
Q4 2007
#VALUE!
#VALUE!
Q1 2008
#VALUE!
#VALUE!
Q2 2008
#VALUE!
#VALUE!
Q3 2008
#VALUE!
#VALUE!
Q4 2008
#VALUE!
#VALUE!
Q1 2007
#VALUE!
Q2 2007
#VALUE!
Q3 2007
#VALUE!
Q4 2007
#VALUE!
Q1 2008
#VALUE!
Q2 2008
#VALUE!
Q3 2008
#VALUE!
Q4 2008
#VALUE!
8 of 40
Market
Seasonality Adjustment
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #1 New Svs. Pers.
(Large)
New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #2 New Svs. Pers.
(Large)
New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
9 of 40
Jan-07
-40%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$60
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-07
-30%
1
#VALUE!
#VALUE!
#VALUE!
1
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$70
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-07
-10%
1
#VALUE!
#VALUE!
#VALUE!
1
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$90
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-07
0%
1
#VALUE!
#VALUE!
#VALUE!
1
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-07
25%
1
#VALUE!
#VALUE!
#VALUE!
1
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-07
25%
1
#VALUE!
#VALUE!
#VALUE!
1
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-07
25%
1
#VALUE!
#VALUE!
#VALUE!
1
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-07
25%
1
#VALUE!
#VALUE!
#VALUE!
1
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-07
15%
1
#VALUE!
#VALUE!
#VALUE!
1
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$115
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-07
0%
1
#VALUE!
#VALUE!
#VALUE!
1
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-07
-15%
1
#VALUE!
#VALUE!
#VALUE!
1
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$85
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-07
-20%
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$80
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Market
Seasonality Adjustment
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #1 New Svs. Pers.
(Large)
New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #2 New Svs. Pers.
(Large)
New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
10 of 40
Jan-08
-40%
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$60
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-08
-30%
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$70
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-08
-10%
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$90
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-08
0%
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-08
25%
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-08
25%
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-08
25%
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-08
25%
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-08
15%
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$115
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-08
0%
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-08
-15%
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$85
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-08
-20%
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
$3,000
$80
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2007
0%
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$1,200
$1,200
#VALUE!
$1,200
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$1,200
$1,200
$36,000
$1,200
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2008
0%
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$1,200
$1,200
#VALUE!
$1,200
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$1,200
$1,200
$36,000
$1,200
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Market
Seasonality Adjustment
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #3 New Svs. Pers.
(Large)
New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #4 New Svs. Pers.
(Jumbo)
New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
11 of 40
Jan-07
-40%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-07
-30%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$70
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$130
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-07
-10%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$90
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$110
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-07
0%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-07
25%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$75
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-07
25%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$75
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-07
25%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$75
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-07
25%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$75
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-07
15%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$115
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$85
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-07
0%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-07
-15%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$85
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$115
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-07
-20%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$80
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$120
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Market
Seasonality Adjustment
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #3 New Svs. Pers.
(Large)
New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #4 New Svs. Pers.
(Jumbo)
New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
12 of 40
Jan-08
-40%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$60
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$140
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-08
-30%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$70
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$130
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-08
-10%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$90
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$110
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-08
0%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-08
25%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$75
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-08
25%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$75
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-08
25%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$75
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-08
25%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$75
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-08
15%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$115
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$85
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-08
0%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-08
-15%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$85
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$115
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-08
-20%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$80
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$80
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2007
0%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$1,100
$1,100
#VALUE!
$1,140
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$1,100
$1,100
#VALUE!
$1,060
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2008
0%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$1,200
$1,200
#VALUE!
$1,200
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$1,200
$1,200
#VALUE!
$1,160
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Market
Seasonality Adjustment
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #5 New Svs. Pers.
(Large)
New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #6 New Svs. Pers.
(Large)
New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
13 of 40
Jan-07
-40%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-07
-30%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-07
-10%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-07
0%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-07
25%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-07
25%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-07
25%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-07
25%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-07
15%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$115
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$115
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-07
0%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-07
-15%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$85
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$85
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-07
-20%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$80
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$80
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Market
Seasonality Adjustment
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #5 New Svs. Pers.
(Large)
New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #6 New Svs. Pers.
(Large)
New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
14 of 40
Jan-08
-40%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$60
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$60
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-08
-30%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$70
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$70
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-08
-10%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$90
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$90
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-08
0%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-08
25%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-08
25%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-08
25%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-08
25%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-08
15%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$115
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$115
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-08
0%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-08
-15%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$85
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$85
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-08
-20%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$80
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$80
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2007
0%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$800
$800
#VALUE!
$880
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$700
$700
#VALUE!
$755
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2008
0%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$1,200
$1,200
#VALUE!
$1,200
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$1,200
$1,200
#VALUE!
$1,200
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Market
Seasonality Adjustment
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #7 New Svs. Pers.
(Large)
New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #8 New Svs. Pers.
(Large)
New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
15 of 40
Jan-07
-40%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-07
-30%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-07
-10%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-07
0%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-07
25%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-07
25%
0
#VALUE!
#VALUE!
#VALUE!
0
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
$0
$0
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-07
25%
0
#VALUE!
#VALUE!
#VALUE!
0
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-07
25%
0
#VALUE!
#VALUE!
#VALUE!
0
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-07
15%
0
#VALUE!
#VALUE!
#VALUE!
0
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-07
0%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-07
-15%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-07
-20%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Market
Seasonality Adjustment
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #7 New Svs. Pers.
(Large)
New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #8 New Svs. Pers.
(Large)
New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
16 of 40
Jan-08
-40%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-08
-30%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-08
-10%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-08
0%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-08
25%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-08
25%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-08
25%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-08
25%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-08
15%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$115
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$115
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-08
0%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-08
-15%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$85
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$85
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-08
-20%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$80
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$80
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2007
0%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2008
0%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$700
$700
#VALUE!
$755
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$700
$700
#VALUE!
$755
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Market
Seasonality Adjustment
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #9 New Svs. Pers.
(Medium) New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #10 New Svs. Pers.
(Medium) New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
17 of 40
Jan-07
-40%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-07
-30%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-07
-10%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-07
0%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-07
25%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-07
25%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-07
25%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-07
25%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-07
15%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-07
0%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-07
-15%
0
#VALUE!
#VALUE!
#VALUE!
0
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-07
-20%
0
#VALUE!
#VALUE!
#VALUE!
0
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Market
Seasonality Adjustment
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #9 New Svs. Pers.
(Medium) New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #10 New Svs. Pers.
(Medium) New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
18 of 40
Jan-08
-40%
0
#VALUE!
#VALUE!
#VALUE!
0
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-08
-30%
0
#VALUE!
#VALUE!
#VALUE!
0
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-08
-10%
0
#VALUE!
#VALUE!
#VALUE!
0
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-08
0%
0
#VALUE!
#VALUE!
#VALUE!
0
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-08
25%
0
#VALUE!
#VALUE!
#VALUE!
0
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-08
25%
1
#VALUE!
#VALUE!
#VALUE!
0
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-08
25%
1
#VALUE!
#VALUE!
#VALUE!
0
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-08
25%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$125
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-08
15%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$115
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-08
0%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$100
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-08
-15%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$85
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-08
-20%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$100
$100
#VALUE!
$80
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2007
0%
0
#VALUE!
#VALUE!
#VALUE!
0
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2008
0%
1
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$700
$700
#VALUE!
$755
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Market
Seasonality Adjustment
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #11 New Svs. Pers.
(Medium) New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #12 New Svs. Pers.
(Medium) New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
19 of 40
Jan-07
-40%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-07
-30%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-07
-10%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-07
0%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-07
25%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-07
25%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-07
25%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-07
25%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-07
15%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-07
0%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-07
-15%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-07
-20%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Market
Seasonality Adjustment
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #11 New Svs. Pers.
(Medium) New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #12 New Svs. Pers.
(Medium) New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
20 of 40
Jan-08
-40%
0
#VALUE!
#VALUE!
#VALUE!
0
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-08
-30%
0
#VALUE!
#VALUE!
#VALUE!
0
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-08
-10%
0
#VALUE!
#VALUE!
#VALUE!
0
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-08
0%
0
#VALUE!
#VALUE!
#VALUE!
0
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-08
25%
0
#VALUE!
#VALUE!
#VALUE!
0
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-08
25%
0
#VALUE!
#VALUE!
#VALUE!
0
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-08
25%
0
#VALUE!
#VALUE!
#VALUE!
0
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-08
25%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-08
15%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-08
0%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-08
-15%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-08
-20%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2007
0%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2008
0%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Market
Seasonality Adjustment
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #13 New Svs. Pers.
(Medium) New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #14 New Svs. Pers.
(Medium) New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
21 of 40
Jan-07
-40%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-07
-30%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-07
-10%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-07
0%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-07
25%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-07
25%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-07
25%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-07
25%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-07
15%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-07
0%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-07
-15%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-07
-20%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Market
Seasonality Adjustment
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #13 New Svs. Pers.
(Medium) New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
Market #14 New Svs. Pers.
(Medium) New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
Margin
22 of 40
Jan-08
-40%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-08
-30%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-08
-10%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-08
0%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-08
25%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-08
25%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-08
25%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-08
25%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-08
15%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-08
0%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-08
-15%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-08
-20%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2007
0%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2008
0%
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
$0
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Market
Seasonality Adjustment
National Map
National
National Data
Costs Taxed
Support
to Each
Reg. Dir.
Market
Personnel
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
New Svs. Pers.
Totals
New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
23 of 40
Jan-07
-40%
$10,000
1
1
$10,575
2
#VALUE!
#VALUE!
#VALUE!
0
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$200
$200
#VALUE!
$160
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-07
-30%
$6,850
$10,000
1
1
$10,575
4
#VALUE!
#VALUE!
#VALUE!
1
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$400
$400
#VALUE!
$370
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-07
-10%
$6,850
$10,000
1
1
$10,575
4
#VALUE!
#VALUE!
#VALUE!
1
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$400
$400
#VALUE!
$390
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-07
0%
$6,850
$10,000
1
1
$10,575
4
#VALUE!
#VALUE!
#VALUE!
1
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$400
$400
#VALUE!
$400
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-07
25%
$6,850
$10,000
1
2
$15,863
5
#VALUE!
#VALUE!
#VALUE!
1
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$500
$500
#VALUE!
$550
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-07
25%
$6,850
$10,000
1
2
$15,863
6
#VALUE!
#VALUE!
#VALUE!
1
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$600
$600
#VALUE!
$675
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-07
25%
$6,850
$10,000
1
2
$15,863
6
#VALUE!
#VALUE!
#VALUE!
1
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$600
$600
#VALUE!
$675
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-07
25%
$6,850
$10,000
1
2
$15,863
6
#VALUE!
#VALUE!
#VALUE!
1
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$600
$600
#VALUE!
$675
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-07
15%
$6,850
$10,000
1
2
$15,863
6
#VALUE!
#VALUE!
#VALUE!
1
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$600
$600
#VALUE!
$645
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-07
0%
$6,850
$10,000
1
2
$15,863
6
#VALUE!
#VALUE!
#VALUE!
1
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$600
$600
#VALUE!
$600
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-07
-15%
$10,000
$10,000
1
2
$15,863
6
#VALUE!
#VALUE!
#VALUE!
1
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$600
$600
#VALUE!
$555
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-07
-20%
$10,000
$10,000
1
2
$15,863
6
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$600
$600
#VALUE!
$540
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Market
Seasonality Adjustment
National Map
National
National Data
Costs Taxed
Support
to Each
Reg. Dir.
Market
Personnel
Live
Prod. Equ.
Offers
Listings
New Svs.
Broker
Manager
Agents
TC
Assistants
New Svs. Pers.
Totals
New Svs. Pers.
Data
Insurance
Legal
Rent
Marketing
Personnel
Total Costs
Revenues
Profit
24 of 40
Jan-08
-40%
$10,000
$10,000
2
2
$21,150
6
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$600
$600
#VALUE!
$480
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-08
-30%
$10,000
$10,000
2
2
$21,150
6
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$600
$600
#VALUE!
$510
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-08
-10%
$10,000
$10,000
2
2
$21,150
6
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$600
$600
#VALUE!
$570
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-08
0%
$10,000
$10,000
2
2
$21,150
6
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$600
$600
#VALUE!
$600
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-08
25%
$10,000
$10,000
2
2
$21,150
6
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$600
$600
#VALUE!
$675
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-08
25%
$10,000
$10,000
2
2
$21,150
9
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$900
$900
#VALUE!
$1,050
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-08
25%
$10,000
$10,000
2
2
$21,150
9
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$900
$900
#VALUE!
$1,050
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-08
25%
$10,000
$10,000
2
2
$21,150
9
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$900
$900
#VALUE!
$1,050
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-08
15%
$10,000
$10,000
2
2
$21,150
9
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$900
$900
#VALUE!
$990
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-08
0%
$10,000
$10,000
2
2
$21,150
9
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$900
$900
#VALUE!
$900
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-08
-15%
$10,000
$10,000
2
2
$21,150
9
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$900
$900
#VALUE!
$810
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-08
-20%
$10,000
$10,000
2
2
$21,150
9
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$900
$900
#VALUE!
$740
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2007
0%
$81,650
$120,000
1
2
$169,200
6
#VALUE!
#VALUE!
#VALUE!
#VALUE!
1
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,100
$6,100
#VALUE!
$6,235
#VALUE!
#VALUE!
#VALUE!
#VALUE!
2008
0%
$120,000
$120,000
2
2
$253,800
9
#VALUE!
#VALUE!
#VALUE!
#VALUE!
0
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$9,300
$9,300
#VALUE!
$9,425
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Headcount
12
10
Marketing
Bus. Dev.
REOPS
R&D
G&A
Feb-07
Apr-07
Jun-07
Aug-07
Oct-07
Dec-07
Feb-08
Apr-08
Jun-08
Aug-08
Oct-08
Dec-08
Jan-07
Mar-07
May-07
Jul-07
Sep-07
Nov-07
Jan-08
Mar-08
May-08
Jul-08
Sep-08
Nov-08
25 of 40
Revenue
Operating Expenses
Capital Expenses
$140,000
$120,000
$100,000
$80,000
$60,000
$40,000
$20,000
$0
Nov-06
Jan-07
Mar-07
May-07
Jul-07
Sep-07
Nov-07
Jan-08
Mar-08
May-08
Jul-08
Sep-08
Nov-08
Oct-06
Dec-06
Feb-07
Apr-07
Jun-07
Aug-07
Oct-07
Dec-07
Feb-08
Apr-08
Jun-08
Aug-08
Oct-08
Dec-08
26 of 40
$10
$8
$6
$4
$2
$0
Nov-06
Jan-07
Mar-07
May-07
Jul-07
Sep-07
Nov-07
Jan-08
Mar-08
May-08
Jul-08
Sep-08
Nov-08
Oct-06
Dec-06
Feb-07
Apr-07
Jun-07
Aug-07
Oct-07
Dec-07
Feb-08
Apr-08
Jun-08
Aug-08
Oct-08
Dec-08
27 of 40
$60,000
$40,000
$20,000
$0
Nov-06
Jan-07
Mar-07
May-07
Jul-07
Sep-07
Nov-07
Jan-08
Mar-08
May-08
Jul-08
Sep-08
Nov-08
Oct-06
Dec-06
Feb-07
Apr-07
Jun-07
Aug-07
Oct-07
Dec-07
Feb-08
Apr-08
Jun-08
Aug-08
Oct-08
Dec-08
28 of 40
Cash Balance
$12
$10
$8
$6
$4
$2
$0
Jan-07 Feb-07 Mar-07 Apr-07 May-07 Jun-07 Jul-07 Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08
29 of 40
Revenue by Segment
$12,000
$10,000
$8,000
$6,000
$4,000
$2,000
$0
Jan-07 Feb-07 Mar-07 Apr-07 May-07 Jun-07 Jul-07 Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08
30 of 40
0.15
0.1
0.05
0
Jan-07 Feb-07 Mar-07 Apr-07 May-07 Jun-07 Jul-07 Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08
31 of 40
Position
BD Manager
Director of BD
Bookkeeper
CEO
CFO
Controller
Financial Analyst
General Counsel
HR Director
IT Support Specialist
Office Assistant
Office Assistant #2
Operations Manager
Communications Analyst
Director, Marketing
Director, Marketing
Writer
Customer Marketing Analyst
Local Marketing, East
Local Marketing, West
Senior Communications Mgr
VP of Marketing
CTO
Development Manager
Development Manager
Director, Product Management
Intern #1
Intern #2
Intern #4
Intern #5
Manager, Commerce
Principal Engineer
Product Manager
Product Manager, Commerce
Product Manager, Search
QA Lead
SDE I
SDE I
SDE I
SDE I
SDE I
SDE I
SDE I
SDE II
SDE II
SDE II
SDE II
SDE II
SDE II
SDE II
SDE III
SDE III
SDE III
SDE III
SDE III
SDE III
Senior Product Manager
Senior Product Manager
Senior UI Designer
Site Operations Manager
STE I
STE I
STE II
STE II
STE III
STE III
STE III
UI Designer
32 of 40
Last Name
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Department
Bus. Dev.
Bus. Dev.
G&A
G&A
G&A
G&A
G&A
G&A
G&A
G&A
G&A
G&A
G&A
Marketing
Marketing
Marketing
Marketing
Marketing
Marketing
Marketing
Marketing
Marketing
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
Salary
Bonus Options Start Date
$50,000 $25,000
10,000
Jan-07
$50,000 $25,000
10,000
Feb-07
$50,000 $25,000
10,000
Mar-07
$50,000 $25,000
10,000
Apr-07
$50,000 $25,000
10,000
May-07
$50,000 $25,000
10,000
Jun-07
$50,000 $25,000
10,000
Jul-07
$50,000 $25,000
10,000
Aug-07
$50,000 $25,000
10,000
Sep-07
$50,000 $25,000
10,000
Oct-07
$50,000 $25,000
10,000
Nov-07
$50,000 $25,000
10,000
Dec-07
$50,000 $25,000
10,000
Jan-08
$50,000 $25,000
10,000
Dec-06
$50,000 $25,000
10,000
Feb-07
$50,000 $25,000
10,000
Mar-07
$50,000 $25,000
10,000
Apr-07
$50,000 $25,000
10,000
Apr-06
$50,000 $25,000
10,000
May-07
$50,000 $25,000
10,000
Jun-07
$50,000 $25,000
10,000
Aug-07
$50,000 $25,000
10,000
Sep-07
$50,000 $25,000
10,000
Jan-06
$50,000 $25,000
10,000
Feb-06
$50,000 $25,000
10,000
Mar-06
$50,000 $25,000
10,000
Apr-06
$50,000 $25,000
10,000
May-06
$50,000 $25,000
10,000
Jun-06
$50,000 $25,000
10,000
Jul-06
$50,000 $25,000
10,000
Aug-06
$50,000 $25,000
10,000
Sep-06
$50,000 $25,000
10,000
Oct-06
$50,000 $25,000
10,000
Nov-06
$50,000 $25,000
10,000
Dec-06
$50,000 $25,000
10,000
Jan-07
$50,000 $25,000
10,000
Feb-07
$50,000 $25,000
10,000
Mar-07
$50,000 $25,000
10,000
Apr-07
$50,000 $25,000
10,000
May-07
$50,000 $25,000
10,000
Jun-07
$50,000 $25,000
10,000
Jul-07
$50,000 $25,000
10,000
Aug-07
$50,000 $25,000
10,000
Sep-07
$50,000 $25,000
10,000
Oct-07
$50,000 $25,000
10,000
Nov-07
$50,000 $25,000
10,000
Dec-07
$50,000 $25,000
10,000
Jan-08
$50,000 $25,000
10,000
Feb-08
$50,000 $25,000
10,000
Mar-08
$50,000 $25,000
10,000
Apr-08
$50,000 $25,000
10,000
May-08
$50,000 $25,000
10,000
Jun-08
$50,000 $25,000
10,000
Jul-08
$50,000 $25,000
10,000
Aug-08
$50,000 $25,000
10,000
Sep-08
$50,000 $25,000
10,000
Oct-08
$50,000 $25,000
10,000
Nov-08
$50,000 $25,000
10,000
Dec-08
$50,000 $25,000
10,000
Jan-09
$50,000 $25,000
10,000
Feb-09
$50,000 $25,000
10,000
Mar-09
$50,000 $25,000
10,000
Apr-09
$50,000 $25,000
10,000
May-09
$50,000 $25,000
10,000
Jun-09
$50,000 $25,000
10,000
Jul-09
$50,000 $25,000
10,000
Aug-09
$50,000 $25,000
10,000
Sep-09
$50,000 $25,000
10,000
Oct-09
Jan-07
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$6,188
$0
$0
$0
$6,188
$0
$0
$0
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Feb-07
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$6,188
$6,188
$0
$0
$6,188
$0
$0
$0
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Mar-07
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$6,188
$6,188
$6,188
$0
$6,188
$0
$0
$0
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Apr-07
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
May-07
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Jun-07
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Jul-07
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$5,938
$0
$0
$0
$0
$0
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$5,938
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Aug-07
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$5,938
$5,938
$0
$0
$0
$0
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$5,938
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$5,938
$5,938
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Sep-07
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$5,938
$5,938
$5,938
$0
$0
$0
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$5,938
$5,938
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$5,938
$5,938
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Oct-07
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$5,938
$5,938
$5,938
$5,938
$0
$0
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$5,938
$5,938
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$5,938
$5,938
$5,938
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Nov-07
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Dec-07
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Position
BD Manager
Director of BD
Bookkeeper
CEO
CFO
Controller
Financial Analyst
General Counsel
HR Director
IT Support Specialist
Office Assistant
Office Assistant #2
Operations Manager
Communications Analyst
Director, Marketing
Director, Marketing
Writer
Customer Marketing Analyst
Local Marketing, East
Local Marketing, West
Senior Communications Mgr
VP of Marketing
CTO
Development Manager
Development Manager
Director, Product Management
Intern #1
Intern #2
Intern #4
Intern #5
Manager, Commerce
Principal Engineer
Product Manager
Product Manager, Commerce
Product Manager, Search
QA Lead
SDE I
SDE I
SDE I
SDE I
SDE I
SDE I
SDE I
SDE II
SDE II
SDE II
SDE II
SDE II
SDE II
SDE II
SDE III
SDE III
SDE III
SDE III
SDE III
SDE III
Senior Product Manager
Senior Product Manager
Senior UI Designer
Site Operations Manager
STE I
STE I
STE II
STE II
STE III
STE III
STE III
UI Designer
33 of 40
Last Name
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Department
Bus. Dev.
Bus. Dev.
G&A
G&A
G&A
G&A
G&A
G&A
G&A
G&A
G&A
G&A
G&A
Marketing
Marketing
Marketing
Marketing
Marketing
Marketing
Marketing
Marketing
Marketing
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
R&D
Salary
Bonus Options Start Date
###
$50,000 $25,000
10,000
Jan-07
###
$50,000 $25,000
10,000
Feb-07
###
$50,000 $25,000
10,000
Mar-07
###
$50,000 $25,000
10,000
Apr-07
###
$50,000 $25,000
10,000
May-07
###
$50,000 $25,000
10,000
Jun-07
###
$50,000 $25,000
10,000
Jul-07
###
$50,000 $25,000
10,000
Aug-07
###
$50,000 $25,000
10,000
Sep-07
###
$50,000 $25,000
10,000
Oct-07
###
$50,000 $25,000
10,000
Nov-07
###
$50,000 $25,000
10,000
Dec-07
###
$50,000 $25,000
10,000
Jan-08
###
$50,000 $25,000
10,000
Dec-06
###
$50,000 $25,000
10,000
Feb-07
###
$50,000 $25,000
10,000
Mar-07
###
$50,000 $25,000
10,000
Apr-07
###
$50,000 $25,000
10,000
Apr-06
###
$50,000 $25,000
10,000
May-07
###
$50,000 $25,000
10,000
Jun-07
###
$50,000 $25,000
10,000
Aug-07
###
$50,000 $25,000
10,000
Sep-07
###
$50,000 $25,000
10,000
Jan-06
###
$50,000 $25,000
10,000
Feb-06
###
$50,000 $25,000
10,000
Mar-06
###
$50,000 $25,000
10,000
Apr-06
###
$50,000 $25,000
10,000
May-06
###
$50,000 $25,000
10,000
Jun-06
###
$50,000 $25,000
10,000
Jul-06
###
$50,000 $25,000
10,000
Aug-06
###
$50,000 $25,000
10,000
Sep-06
###
$50,000 $25,000
10,000
Oct-06
###
$50,000 $25,000
10,000
Nov-06
###
$50,000 $25,000
10,000
Dec-06
###
$50,000 $25,000
10,000
Jan-07
###
$50,000 $25,000
10,000
Feb-07
###
$50,000 $25,000
10,000
Mar-07
###
$50,000 $25,000
10,000
Apr-07
###
$50,000 $25,000
10,000
May-07
###
$50,000 $25,000
10,000
Jun-07
###
$50,000 $25,000
10,000
Jul-07
###
$50,000 $25,000
10,000
Aug-07
###
$50,000 $25,000
10,000
Sep-07
###
$50,000 $25,000
10,000
Oct-07
###
$50,000 $25,000
10,000
Nov-07
###
$50,000 $25,000
10,000
Dec-07
###
$50,000 $25,000
10,000
Jan-08
###
$50,000 $25,000
10,000
Feb-08
###
$50,000 $25,000
10,000
Mar-08
###
$50,000 $25,000
10,000
Apr-08
###
$50,000 $25,000
10,000
May-08
###
$50,000 $25,000
10,000
Jun-08
###
$50,000 $25,000
10,000
Jul-08
###
$50,000 $25,000
10,000
Aug-08
###
$50,000 $25,000
10,000
Sep-08
###
$50,000 $25,000
10,000
Oct-08
###
$50,000 $25,000
10,000
Nov-08
###
$50,000 $25,000
10,000
Dec-08
###
$50,000 $25,000
10,000
Jan-09
###
$50,000 $25,000
10,000
Feb-09
###
$50,000 $25,000
10,000
Mar-09
###
$50,000 $25,000
10,000
Apr-09
###
$50,000 $25,000
10,000
May-09
###
$50,000 $25,000
10,000
Jun-09
###
$50,000 $25,000
10,000
Jul-09
###
$50,000 $25,000
10,000
Aug-09
###
$50,000 $25,000
10,000
Sep-09
###
$50,000 $25,000
10,000
Oct-09
###
Jan-08
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Feb-08
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Mar-08
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Apr-08
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
May-08
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Jun-08
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Jul-08
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Aug-08
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$0
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Sep-08
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$0
$0
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Oct-08
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$0
$0
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Nov-08
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$0
$0
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Dec-08
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,188
$6,188
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$0
$0
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$6,438
$0
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$6,188
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Position
Agent #1
Agent #10
Agent #11
Agent #12
Agent #13
Agent #14
Agent #15
Agent #2
Agent #3
Agent #4
Agent #5
Agent #6
Agent #7
Agent #8
Agent #9
Broker #1
Broker #2
CSR #1
CSR #2
CSR #3
CSR #4
Field Agent #10
Field Agent #3
Field Agent #4
Field Agent #5
Field Agent #6
Field Agent #7
Field Agent #8
Field Agent #9
Field Operations VP
Market Manager #2
Market Manager #3
Market Manager #4
Market Manager #5
Market Manager #6
Market Manager #7
Regional Director #1
Regional Director #2
Regional Director #3
Regional Director #4
Regional Director #5
Regional Director #6
TC Lead #1
TC Lead #2
TC Lead #3
TC Lead #4
TC Lead #5
Transaction Coordinator #1
Transaction Coordinator #2
Transaction Coordinator #3
Transaction Coordinator #3
Transaction Coordinator #4
Transaction Coordinator #5
34 of 40
Last Name
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Department
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
Salary
Bonus Options Start Date
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000
Nov-05
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000
Dec-10
$50,000 $50,000
10,000
Dec-10
$50,000 $50,000
10,000
Apr-08
$50,000 $50,000
10,000
Jan-07
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $25,000
10,000
Oct-06
$50,000 $50,000
10,000
Apr-06
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000
Jan-06
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000
Jan-07
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
$50,000 $50,000
10,000 #VALUE!
Jan-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$7,958
#VALUE!
$0
$0
$0
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,188
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
#VALUE!
#VALUE!
Feb-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$7,958
#VALUE!
$0
$0
$0
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,188
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$7,958
#VALUE!
#VALUE!
#VALUE!
Mar-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$7,958
#VALUE!
$0
$0
$0
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,188
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$7,958
#VALUE!
#VALUE!
#VALUE!
Apr-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
$0
$0
$0
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,188
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$7,958
#VALUE!
#VALUE!
#VALUE!
May-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
$0
$0
$0
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,188
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$7,958
#VALUE!
#VALUE!
#VALUE!
Jun-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
$0
$0
$0
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,188
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$7,958
#VALUE!
#VALUE!
#VALUE!
Jul-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
$0
$0
$0
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,188
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$7,958
#VALUE!
#VALUE!
#VALUE!
Aug-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
$0
$0
$0
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,188
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$7,958
#VALUE!
#VALUE!
#VALUE!
Sep-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
$0
$0
$0
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,188
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$7,958
#VALUE!
#VALUE!
#VALUE!
Oct-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
$0
$0
$0
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,188
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$7,958
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$7,958
#VALUE!
#VALUE!
#VALUE!
Nov-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
$0
$0
$0
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,438
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
Dec-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
$0
$0
$0
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,438
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
Position
Agent #1
Agent #10
Agent #11
Agent #12
Agent #13
Agent #14
Agent #15
Agent #2
Agent #3
Agent #4
Agent #5
Agent #6
Agent #7
Agent #8
Agent #9
Broker #1
Broker #2
CSR #1
CSR #2
CSR #3
CSR #4
Field Agent #10
Field Agent #3
Field Agent #4
Field Agent #5
Field Agent #6
Field Agent #7
Field Agent #8
Field Agent #9
Field Operations VP
Market Manager #2
Market Manager #3
Market Manager #4
Market Manager #5
Market Manager #6
Market Manager #7
Regional Director #1
Regional Director #2
Regional Director #3
Regional Director #4
Regional Director #5
Regional Director #6
TC Lead #1
TC Lead #2
TC Lead #3
TC Lead #4
TC Lead #5
Transaction Coordinator #1
Transaction Coordinator #2
Transaction Coordinator #3
Transaction Coordinator #3
Transaction Coordinator #4
Transaction Coordinator #5
35 of 40
Last Name
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Smith
Department
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
REOPS
Salary
Bonus Options Start Date
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000
Nov-05
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000
Dec-10
###
$50,000 $50,000
10,000
Dec-10
###
$50,000 $50,000
10,000
Apr-08
###
$50,000 $50,000
10,000
Jan-07
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $25,000
10,000
Oct-06
###
$50,000 $50,000
10,000
Apr-06
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000
Jan-06
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000
Jan-07
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
$50,000 $50,000
10,000 #VALUE!
###
Jan-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
$0
$0
$0
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,438
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
Feb-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
$0
$0
$0
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,438
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
Mar-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
$0
$0
$0
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,438
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
Apr-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
$0
$0
$7,958
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,438
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
May-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
$0
$0
$7,958
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,438
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
Jun-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
$0
$0
$7,958
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,438
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
Jul-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
$0
$0
$7,958
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,438
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
Aug-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
$0
$0
$7,958
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,438
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
Sep-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
$0
$0
$7,958
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,438
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
Oct-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
$0
$0
$7,958
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,438
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
Nov-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
$0
$0
$7,958
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,438
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
Dec-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$0
#VALUE!
$0
$0
$7,958
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$6,438
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
$8,208
#VALUE!
#VALUE!
#VALUE!
Position
Last Name
Department
Totals
Salary
36 of 40
Bonus
Options
Start Date
Jan-07
Jan-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-07
Feb-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-07
Mar-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-07
Apr-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-07
May-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-07
Jun-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-07
Jul-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-07
Aug-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-07
Sep-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-07
Oct-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-07
Nov-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-07
Dec-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jan-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jan-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jan-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Feb-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Mar-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Apr-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
May-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jun-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Jul-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Aug-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Sep-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Oct-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Nov-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Dec-07
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
#VALUE!
Position
Last Name
Department
Totals
Salary
37 of 40
Bonus
Options
Start Date
###
###
###
###
###
###
Jan-08
Jan-08
#VALUE!
#VALUE!
#VALUE!
#VALUE!
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Category
Category
Variable
Signed to closed ratio, offers & listings
Average offer revenue per property
Average listing revenue per property
Revenues
Average revenue per new service #1
Attach rate for new service #1 on closed offers
New service #1 start date
Starting capital (October 2006)
Annual interest rate on capital
Financial Metrics Number of months in which capital investments depreciate
Amount raised series C
Date of series C raise
Market #2 Launch
Market #3 Launch
Market #4 Launch
Market #5 Launch
Market #6 Launch
Market #7 Launch
Market #8 Launch
Expansion
Market #9 Launch
Market #10 Launch
Market #11 Launch
Market #12 Launch
Market #13 Launch
Market #14 Launch
Market expansion one-time costs
38 of 40
Value
50%
$5,000
$5,000
$10,000
10%
1-Jan-10
$5,000,000
4%
36
$12,000,000
1-Jul-07
31-May-06
1-Feb-07
1-Feb-07
1-May-07
1-Jun-07
1-Jun-08
1-Jun-08
1-Jun-08
1-Jun-09
1-Jun-09
1-Jun-09
10-Jan-10
10-Jan-10
$10,000
Large
1
2
$100
$100
$100
$100
$100
$100
$100
40
10
20%
12
Jumbo
2
3
$100
$100
$100
$100
$100
$100
$100
50
15
30%
15
Productivity
Compensation
39 of 40
40 of 40
$10,000
$10,000
20%
35%
5%
$6,500
$9,500
$18,000
$125
$12,500
$5,000
$10,000
$45,000
$60,000
$1,000
$300
$400
$125
1-Aug-07
$100,000
$10,000
$30,000
$50,000
$30,000
0%
35%
25%
40%
30%
20%
15%