BrokerageIndustry News

ZipRealty continues to downsize brokerage operations

10% of leads now go to 'Powered by Zip' referral partners
Published on Mar 7, 2012

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by CareyBot

ZipRealty Inc. continues to shed agents and support staff even as it grows traffic to its website, which now features Internet Data Exchange (IDX) listings from six markets where the company no longer has brokerage operations but provides referrals and lead management tools to brokers.

The Emeryville, Calif.-based brokerage said fourth-quarter 2011 revenue was down 31 percent from the year before, to $18.5 million, and that it finished the year with 1,701 agents -- half as many as it had at the end of 2010.

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