Palm Beach Represents Fourth Market in the Sunshine State for Fast-Growing Brokerage
EMERYVILLE, Calif., June 14 /PRNewswire-FirstCall/ --
Executives at ZipRealty (NASDAQ:ZIPR), a national full-service real estate brokerage, announced during the Company's first quarter 2006 earnings call that it plans to begin operations in Palm Beach, Florida by the end of the year.
Once launched, Palm Beach will be ZipRealty's fourth market in Florida, joining Miami/Ft. Lauderdale, Tampa and Orlando. The Company has been working with home buyers and sellers in Miami/Ft. Lauderdale since December 2005, in Tampa since March 2006 and in Orlando beginning earlier this month. The Company plans to be up and running in Palm Beach during the third quarter of 2006. In the Palm Beach market, ZipRealty (http://www.ziprealty.com/) will operate in Palm Beach County. Immediate next steps include hiring a district director along with local and licensed agents.
"As we continue to expand our national and regional footprint, moving into Palm Beach helps strengthen our presence throughout Florida and the Southeast," said ZipRealty President Gary Beasley. "Developing a local presence in Palm Beach presents ZipRealty with an opportunity to bring our client-centric approach to even more consumers in South Florida."
ZipRealty offers all of the services of a traditional residential real estate 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 18 major metropolitan areas in eleven 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 1-800-CALL-ZIP (1-880-225-5947).
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 Palm Beach, future success in the Palm Beach market and launch preparations for Palm Beach. 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 March 31, 2006. ZipRealty assumes no obligation to update the forward-looking statements included in this release.
CONTACT:
Marielle Covington Marcus Gamo
Allison & Partners Allison & Partners
415-277-4929 415-277-4925
DATASOURCE: ZipRealty
CONTACT: Marielle Covington, +1-415-277-4929, or ,
or Marcus Gamo, +1-415-277-4925, or , both of Allison &
Partners, for ZipRealty
Web site: http://www.ziprealty.com/