10x you may be right, but as long as they continue to grow commision review above system average they are building market share. it remains to be seen if the business model is good for shareholders as the scaling is only recenty cashflow possitive. Shareholder will vote with their feet if the overhead cost is not diluted down as they continue to scale. the high commisions are good for the agents and they have some very good ones so I am a hold at the moment and will keep patient for now.
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Ann: March Qtr Update & Appendix 4C Growth in revenue & cashflow, page-3
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