It is very possible that Goldman is talking about 2009 which is a reasonable price.
I don't think starting in 2010 this is going to be a $24 stock given all the potential for the coming year.
From the 3Q transcript.....the commission rate will improve...
Revenues from primary real estate agency services for the third quarter were $59.4 million, an increase of 195% from $20.1
million for the same quarter of 2008. This increase was mainly due to a 235% increase in total GFA and a 314% increase in total
transaction value of new properties sold, partially offset by lower average commission rate of 1.4% in the third quarter of 2009,
compared to 1.9% for the same period in 2008.
For the first nine months of 2009, revenues from primary real estate agency services were $118 million, an increase of 68% from
$70.3 million for the same period in 2008. Total GFA in transaction value of new properties sold increased by 189% and 201%
respectively from the first nine months of 2009 compared to the same period of 2008, partially offset by a lower average
commission rate of 1.4% compared to 2.4% for the same period of 2008.
We expect our average commission rate to increase in the fourth quarter of 2009 as higher transaction volume and value will
result in more bonus commissions being recognized upon achieving specified sales targets.
you would have to be an idiot to sell this stock.....over time this will do as good or better than 99.9% of the stocks on the market. if you dont have time you should not have bought it.....i suggest a table game at the nearest casino if you need to place your money into something high risk.