ZipRealty, Inc. operates as an online, technology-enabled residential real estate brokerage company. The company owned-and-operated real estate brokerage serves 19 metropolitan markets (Austin, Texas; Baltimore, Maryland; Boston, Massachusetts; Chicago, Illinois; Dallas, Texas; Denver, Colorado; Houston, Texas; Las Vegas, Nevada; Los Angeles, California; Orange County, California; Orlando, Florida; Phoenix, Arizona; Richmond, Virginia; Sacramento, California; San Diego, California; San Francisco Bay Area, California; Seattle, Washington; Portland, Oregon; and Washington, DC) with approximately 1,700 licensed REALTORS. The company serves an additional 20 markets through its Powered by Zip (PbZ) business, which provides its technology platform for acquiring and incubating new customer relationships and for managing real estate transactions. The company operates ZipRealty.com, a real estate brokerage Website. ZipRealty.com attracts approximately 2.6 million monthly visitors. The company also provides consumers with mobile applications that offer all of the major features of its Website and optimize them for various major platforms and devices. The company’s PbZ business serves local brokerages in 20 markets where it does not otherwise conduct business, such as Atlanta, Georgia; Brooklyn, New York; Charlotte, North Carolina; Greater Hudson Valley, New York; Greater Philadelphia area, Pennsylvania; Harrisburg, Pennsylvania; Jacksonville, Florida; Long Island, New York; Miami, Florida; Minneapolis, Minnesota; Nashville, Tennessee; Palm Beach, Florida; Pittsburgh, Pennsylvania; Raleigh-Durham, North Carolina; Salt Lake City, Utah; Sarasota-Naples, Florida; St. Louis, Missouri; Tampa, Florida; Tucson, Arizona; and Virginia Beach, Virginia. The company’s PbZ clients retain approximately 620 agents, bringing the total agent count in the markets served by the company owned-and-operated brokerage and PbZ clients to approximately 2,400 local, licensed real estate agents, all of whom are independent contractors. Solutions The company offers a start-to-finish residential real estate transaction solution. Its solution begins with a consumer’s first home search or listing appointment from a desktop computer, tablet or a mobile device, extends to the first client-and-agent interaction that occurs 6 to 18 months later, and continues even after a home transaction has closed to include the incubation of repeat and referral business. The company has developed and operates a Website at www.ziprealty.com and mobile apps for the iOS and Android platforms with which consumers could access and analyze its information. The company offers its users the ability to personalize their real estate experience by saving homes to their profiles, saving searches for any neighborhood or zip code, sharing listings through email, Facebook or Twitter, and receiving email alerts that notify them each time that a property meeting their desired search criteria is up for sale. The company’s Website and mobile apps also allow users to schedule showing appointments, request additional information, and connect with real estate professionals. On its mobile apps, users could use StreetScan to determine whether a home is for sale simply by pointing their phone’s camera at it, or to draw a search area right on the map for a customized home search. The company displays agent photos, contact information, and relevant activity on its trafficked home detail and search result pages. Agents receive various impressions per month from these placements. The company also offers its agents the opportunity to further improve their online presence by posting information on their profile pages, by commenting on properties they visit using the Agent Comments feature and by participating in its Agent Ratings and Reviews program. Its Website also offers consumers the capability to search its complete directory of agents and narrow their search based on factors, including the agent’s neighborhood specialization, professional experience or credentials. In addition to agent marketing, the company connects REALTORS and consumers through its agent-client matching functionality. Intellectual Property The company has registered various Internet domain names related to its business to protect its proprietary interests. It holds a patent issued in the United States, which expires in 2019, which covers certain processes and methodologies related to transacting residential real estate on the Internet. In addition, the company has pending four patent applications and one provisional patent application with the U.S. Patent Office to seek protection for various aspects of its technology, which creates a network that connects its mobile tools, Website, and customer relationship management tools to improve communication among and information available to real estate professionals and clients. Trademarks: ‘ZipRealty’ is the company’s registered trademark in the United States. It also owns the rights to the domain name ‘www.Real-Estate.com’. REALTOR and REALTORS are registered trademarks of the National Association of REALTORS. Research and Development The company’s research and development expenses were $7.6 million in 2013, which included stock-based compensation expense of $0.1 million. Regulatory Matters The Real Estate Settlement Procedures Act of 1974, as amended, as applicable to the company, is intended to provide for advance disclosures to home buyers and sellers of settlement costs and the elimination of kickbacks or referral fees that tend to increase unnecessarily the costs of certain settlement services. History ZipRealty, Inc. was founded in 1999. The company was incorporated under the laws of the state of California in 1999 and was reincorporated as a Delaware corporation in 2004.
ziprealty inc (ZIPR:NASDAQ GM)
2000 Powell Street
Emeryville, CA 94608
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