Industry News

ZipRealty plans expansion into Twin Cities

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ZipRealty today announced it plans to begin operations in Minneapolis-St. Paul by mid-summer 2006. Once launched, the Twin Cities will be ZipRealty's sixth new market since the company's IPO and its second major foray into the Midwest. The company has been serving home buyers and sellers in metropolitan Chicago since 2000. In the Minneapolis-St. Paul market, ZipRealty plans to operate in Hennepin and Ramsey counties. Immediate next steps include hiring a district director along with local and licensed agents. "Moving into Minneapolis-St. Paul will be an important step in the expansion of our U.S. footprint," said ZipRealty CEO Eric Danziger. "We are excited to spread our customer-centric model across the country and increase our presence in the Midwest." ZipRealty offers rebates to buyers who work with its agents and discounts to sellers, and the company relies heavily on its technology platform to generate new business. ZipRealty stock (Nasdaq: ZIPR) traded at $8.64 this morning. **...