Industry NewsTechnology

ZipRealty bucks real estate tradition

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While some traditional real estate brokers today said they know zip about ZipRealty, the fledgling brokerage with an unconventional business model, others are watching with interest as the company plans its initial public stock offering. Larry Knapp, president of Saratoga-Calif.-based Alain Pinel Realtors, said he wishes the company well. "I think it's great. They have a little different model. Just like every other business model in the world, things progress," Knapp said. "I hope they're successful in going public and achieving their goals. Ultimately it's the relationship with clients that determines your success." Headquartered in Emeryville, Calif., ZipRealty has initially focused its operations on 12 major metropolitan areas across the country and has set its sights on expansion into other top-25 metropolitan markets. ZipRealty is a full-service broker that offers discounts and rebates to home buyers and sellers through its business efficiencies. ZipRealty agents are full-time ...