Soft Launch: Zip Realty Up and Running

by Alex Stenback on June 30, 2006

Remember Zip Realty? The web-heavy, though still mostly traditional real estate broker whose Twin Cities launch was planned for this summer?  No?  Go back and read this post from March.

Anyway, with little fanfare or publicity, they are now in what insiders are calling a "soft launch" in the Twin Cities Market, with about 15 Zip Agents already on the street.  For those not familiar, Zip Realty is a national, publicly traded real estate company whose model is a little different from your standard broker.  From their website:

ZipRealty offers all of the services of a traditional residential real
estate brokerage with the added benefits of enhanced customer service and
savings made possible by the Company’s use of an employee-agent business model
and proprietary Internet technology. Unlike most other full service
brokerages, ZipRealty gives buyers 20 percent of its commission, and sells
homes for up to 25 percent less than the standard market commission.

The main hook, of course, is that 20% commission rebate for buyers.  We just thought you’d like to know.
ZipRealty []
ZipRealty Minnesota Page []
ZipRealty Minnesota Agents []

{ 3 comments… read them below or add one }

wendy July 4, 2006 at 2:35 pm

Perhaps Zip Realty has something there. Everyone wants fast food, why not fast real estate?

peter July 12, 2006 at 12:22 pm

zip realty seems to be great but it should be looked at with a greater perspective

joe July 23, 2006 at 6:40 pm

Right, employee-agent arrangement. Nothing will motivate a person to work hard like the commission-free corporate world. All those discount realtors are BS.

If an agent can’t make a decent living with those discounts, they’ll spend more time looking for new clients than servicing the current ones.

The old rule is true here: when you can’t compete based on your quality, you’ll compete based on price.

You get what you pay for.


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