Industry NewsTechnology

Zip’s IPO boon for online real estate

Brokerage's success further validates Internet models

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Payam Zamani, CEO of Reply! Inc., was one of many online real estate executives who was happy to hear this morning about ZipRealty's initial move to go public. Executives agreed the move validates the online real estate space and shows that the Internet has caused significant changes within the industry. The online brokerage's success is evidence that the Internet now plays a key role in the home-buying process. As investors take a deeper interest in Zip and its competitors, the industry must now view online real estate companies as serious players. "In the long run, this will only have a positive effect by bringing more capital to this space," Zamani said. If all goes as planned, ZipRealty will be the first online realty brokerage to go public. The company was launched five years ago by a pair of U.C. Berkeley graduates–Juan Mini and Scott Kucirek–with a plan to change the real estate industry. Zamani's company, Reply! Inc., operates AgentConnect, an online service that ...