National Brokerage Increases Presence in Florida With Announcement of Third New Market in State
EMERYVILLE, Calif., Jan. 10 /PRNewswire-FirstCall/ -- ZipRealty (NASDAQ:ZIPR), a full-service real estate brokerage that leverages the Internet to provide comprehensive information and savings to home buyers and sellers, announced this morning that the Company plans to begin opening transactions with home buyers and sellers in Orlando, Florida beginning in the second quarter of 2006.
The third most populated metropolitan area in the Sunshine State and one of the fastest growing regions in the Southeast, Orlando is the third market for ZipRealty in the state of Florida and will be the 17th market for the company nationally. ZipRealty's Miami market opened in December 2005 and the Tampa market is scheduled to open during the first quarter in 2006. In the Orlando market, ZipRealty plans to work with home buyers and sellers in Orange, Seminole, Lake, Osceola and Brevard counties.
Among other factors, key reasons for the introduction of ZipRealty in the Orlando market include: -- Access to online information, as Orlando ranks as the 6th most
connected city in the country, with 65 percent of users using a
high-speed Internet connection
-- Large population and consistent population growth, as Orlando is the
2nd fastest growing metropolitan area in the state between 1990 and
2000
-- Significant and strong job growth, as over 5,773 jobs were either
created or saved in the past year alone, according to the Metro
Orlando Economic Development Commission "We believe ZipRealty has tremendous potential to succeed in Central Florida," said Eric Danziger, ZipRealty's President and CEO. "The addition of Orlando as yet another market in Florida further strengthens our foothold in the state and the Southeast as a whole, and we're collectively excited to begin working with home buyers and sellers in Central Florida in the coming months." Immediate next steps for ZipRealty include hiring a district director along with local and licensed agents.
ZipRealty offers home buyers and sellers all of the services of a traditional brokerage with the added benefits of enhanced customer service and savings made possible by the Company's use of an employee-agent business model and proprietary Internet technology. Unlike most other full service brokerages, ZipRealty gives buyers 20 percent of its commission, and sells homes for up to 25 percent less than the standard market commission.
About ZipRealty ZipRealty is a full-service residential real estate brokerage firm. The Company uses the Internet, proprietary technology and efficient business processes to provide home buyers and sellers with high-quality service and value. Founded in 1999, the Company currently operates in 15 major metropolitan areas in ten states and the District of Columbia. The Company's client-centric business strategy utilizes a sophisticated Web site, which enables home buyers and sellers to access comprehensive local Multiple Listing Services home listings data and other relevant information. The Company also utilizes a proprietary business management technology platform, which reduces costs and allows the Company to pass on significant financial savings to consumers. This Internet-enabled, technology-driven, employee-based model provides the Company with a distinct competitive advantage, allowing ZipRealty to consistently deliver outstanding service to clients. For more information on ZipRealty, visit http://www.ziprealty.com/ or call 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 the Company's timeline for commencing operations in Orlando, future success in the Orlando market and launch preparations for Orlando. The forward-looking statements are subject to risks and uncertainties that could cause actual events to differ materially from those projected, including the risk factors set forth in the Form 10-Q filed with the SEC by the Company for its fiscal quarter ended September 30, 2005. ZipRealty assumes no obligation to update the forward-looking statements included in this release.
Contact: Marcus Gamo, +1-415-277-4925, or , or Aimee Grove, +1-415-277-4902, or , both of Allison & Partners, for ZipRealty. DATASOURCE: ZipRealty CONTACT: Marcus Gamo, +1-415-277-4925, or , or Aimee Grove, +1-415-277-4902, or , both of Allison & Partners, for ZipRealty Web site: http://www.ziprealty.com/
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