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ZipRealty Opens the Door to Real Estate Agent Ratings

November 12, 2008

ZipRealty, the first national real estate brokerage to allow home shoppers to post ratings and reviews of MLS-listed homes online, announced that it is now posting client ratings of its real estate agents on its popular home buying search Web site.

Beginning this week, ZipRealty (www.ziprealty.com) (NASDAQ: ZIPR) became the first national residential brokerage to post “customer satisfaction” scores for all of its agents who have closed at least three transactions with the company. Ratings appear in a one-to-five star ranking according to an average score tabulated via a customer satisfaction survey clients complete post-closing and are updated monthly.

“Buyers and sellers have told us that customer satisfaction ratings are number one or number two on their list of things they want to know about a potential agent,” said ZipRealty President and CEO Patrick Lashinsky. “We’re committed to providing our clients with all of the information they need to make good decisions about which home to purchase and which agent to choose.”

ZipRealty uses a third-party vendor to administer surveys to each client who buys or sells a home with any of the company’s 2,800 agents in the 35 U.S. markets where the company operates. Agent scores are translated to rankings from one star (completely dissatisfied) to five (completely satisfied), based on the answer to the question, “how satisfied were you with the service you received from your agent(s)?” Agents without a rating have not yet received three completed surveys.

Other New Features and Site Updates

In addition to debuting the new agent ratings, ZipRealty launched several other new features with this site update, including:

 --  Google Street View     The "Street View" tab on each property's "Home Details" page contains     street level photographs (where available) and virtual walks. The 360-     degree panoramic street-level view provides buyers the option to pan,     rotate and zoom into the area near and around individual homes.      --  Neighborhood Home Information     Buyers can view value estimates for each home listing and all     neighborhood homes from Zillow, Cyberhomes and eppraisal, located     within each listing's "Map & Satellite" tab. Along with value     estimates, other information provided includes the year the home was     built, its previous sell date and the home's square footage.      --  Mobile Updates     Accessing ZipRealty.com through cell phones or mobile devices improved,     with the additions of detailed maps, directions and navigation.      

About ZipRealty, Inc.

ZipRealty is a full-service residential real estate brokerage firm. The Company utilizes its user-friendly Web site and employee real estate agents to provide home buyers and sellers with high-quality service and value. ZipRealty’s Web site provides users with access to comprehensive local Multiple Listing Services’ home listings data, as well as other relevant market and neighborhood information. The Company’s proprietary business management system and technology platform help to reduce costs, allowing the Company to pass on significant savings to consumers. Founded in 1999, the company operates in 35 major markets in 20 states and the District of Columbia. For more information on ZipRealty, visit www.ziprealty.com or call 1-800-CALL-ZIP.

 Contacts:  Marielle Covington Allison & Partners 415-277-4929 Email Contact  Marcus Gamo Allison & Partners 415-277-4925 Email Contact

SOURCE: ZipRealty




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