Congratulations to everyone on a very solid first quarter.  Here are some figures which demonstrate our results for these first three months of 2011 compared to 2010.

·         Our total company volume YTD is UP 9% compared to 2010.

·         Average selling price is UP 21% compared to 2010.  As a company our average selling price is $410,715 YTD (compared to $340,131 average for Q1 2010)

·         Of the top 10 Real Estate Brokerages, Zeitlin & Company enjoyed by far the highest average selling price for the first quarter of this year.  Coming in 2^nd is F&C with an average price of $365k; 3^rd is Village at $245k.  This represents a 12% higher average sales price than our next highest competitor; 67% higher than the one after.  (source: brokermetrics)

·         More than half of the top ten firms have declined in volume compared to Q1 2010.  While we have seen very stable production as a company, many are seeing significant declines: Village -23%, KW -17%, Crye-Leike -15%, RE/MAX Elite -27% (source: brokermetrics).

Congratulations everyone, this is a testament to your hard work and resilience.  The last few years have been challenging but clearly you continue to excel amongst your peers in real estate.

If there is any data or information that would be helpful for you and your clients please let me know.  The sun is shining and spring is here – hope you have a great week!

Sam,CFO