ZipRealty revenue falls 37%, company sheds 1,200 agents

'Powered by Zip' referral program to expand

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Technology-based brokerage ZipRealty Inc. says it will pursue referral partnerships with brokerages nationwide based on the results of pilot tests of its "Powered by Zip" program in two markets.

Expansion of the "Powered by Zip" program, which is already up and running in Atlanta and Tucson, will initially be focused on markets where ZipRealty does not have a brokerage presence, the company said.

Participating brokers feed listings to the ZipRealty website, and ZipRealty earns referral fees from leads it sends back to the brokers. The "Powered by Zip" service also helps brokerages "incubate" leads using a customer relationship management tool.

In announcing the expansion of the "Powered by Zip" referral program, ZipRealty said its partnerships with Atlanta-based Better Homes and Gardens Real Estate Metro Brokers and Tucson’s Long Realty have generated $40 million in home sales in the last six months.