Four New Markets in the Tarheel State and Old Dominion Include Raleigh-Durham, Charlotte, Virginia Beach and Richmond
ZipRealty (NASDAQ: ZIPR), a nationalfull-service real estate brokerage known for providing home buyers andsellers with high quality service and savings through its innovative Website, announced today the Company is officially operational inRaleigh-Durham and Charlotte, N.C., and Virginia Beach and Richmond, Va.With the addition of these four markets, ZipRealty is fully operational in34 markets in 19 states from coast to coast.
A growing team of licensed employee-agents are actively working withcustomers in nine counties in each of the Raleigh-Durham, Charlotte andVirginia Beach, areas and eight cities and counties in the Richmond area.As is true in all of ZipRealty's markets, the Company offers clients all ofthe services of a traditional residential real estate brokerage coupledwith superior search technology. In addition, the Company rebates buyers 20percent of its commission, sells homes for up to 25 percent less than thetypical market commission.*
"As we continue to expand our national footprint, we're excited to be upand running working with buyers and sellers in these four key east coastmarkets," said ZipRealty Chief Executive Officer Patrick Lashinsky. "All ofthese vibrant cities are seeing good economic and job growth, and theirInternet-savvy residents are already taking advantage of ZipRealty'sindustry-leading tools and features. We are confident that homebuyers andsellers in North Carolina and Virginia will be excited about our Web site,the market expertise of our local agents, and our alternative approach."
A District Director oversees recruiting and training efforts forZipRealty's local, experienced real estate agents in each of the Company'soperational markets. Vince Giordano serves as District Director forZipRealty in Raleigh-Durham; Libby Meadows in Charlotte; Frank Gay inVirginia Beach; and Ralph Maggiore in Richmond.
About ZipRealty
ZipRealty is a full-service residential real estate brokerage firm. TheCompany utilizes its user-friendly Web site and employee real estate agentsto provide homebuyers and sellers with high-quality service and value.ZipRealty's Web site provides users with access to comprehensive localMultiple Listing Services home listings data, as well as other relevantmarket and neighborhood information. The Company's proprietary businessmanagement system and technology platform reduce costs, allowing theCompany to pass on significant savings to consumers. Founded in 1999, thecompany operates in 34 major markets in 19 states and the District ofColumbia. For more information on ZipRealty, visit www.ziprealty.com orcall 1-800-CALL-ZIP.
Cautionary Language
This release contains forward-looking statements within the meaning of the"safe harbor" provisions of the federal securities laws, including theCompany's future acceptance and growth in the Virginia and North Carolinamarkets. The forward-looking statements are subject to risks anduncertainties that could cause actual events to differ materially fromthose projected, including the risk factors set forth in the Form 10-Kfiled with the SEC by the Company for its fiscal year ended December 31,2007. ZipRealty assumes no obligation to update the forward-lookingstatements included in this release.
*ZipRealty's rebate is subject to certain restrictions. See website fordetails.
Contacts:
Katie Clark
Allison & Partners
(415)277-4923
katie@allisonpr.com
Marcus Gamo
Allison & Partners
(415)277-4925
marcus@allisonpr.com
