BrokerageIndustry News

ZipRealty projects growth in 2010

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Saying it's growing "significantly faster than the real estate brokerage industry overall,"  ZipRealty Inc. said it anticipates fourth-quarter net revenues will total up to $34 million, a 36 percent increase from the same quarter in 2008.The Emeryville, Calif.-based brokerage company said fourth-quarter results were boosted by the extension of the homebuyer tax credit, and that the company also saw continued gains in agent productivity.In a press release providing guidance to investors, ZipRealty said it expects net revenues for 2010 to grow between 10 percent and 20 percent over 2009 levels, and that it will post a smaller net loss than in 2009.The publicly traded company said it will report complete financial results for the fourth quarter and 2009 in early March.ZipRealty reported a $13.3 million loss in 2008. In November, the company said it had racked up $10.76 million in losses during the first nine months of 2009, compared with $10.62 million at the same point in 2008...