ZipRealty Sheds Light on Sales Commissions with Launch of New Flexible Selling Plans

RISMEDIA, August 20, 2007—Home sellers working with national real estate brokerage, ZipRealty now have the option to design a customized selling program based on the commission they choose to offer a buyer’s agent with the launch of the new “Choose Your Own Selling Plan” feature this week.

As part of its flexible selling plan offering, ZipRealty provides sellers the most popular buy side commission rate for their area and allows them to offer a higher or lower buy side commission, says the company. ZipRealty typically represents sellers for a 2% commission, which is generally lower than other full-service real estate companies. Because ZipRealty takes a smaller commission when representing the seller, there is more flexibility in the rate offered to the buyer’s agent, which can be higher or lower than what is typically being offered depending on the motivation of the seller, all while saving the seller money.

“Real estate commissions have always been negotiable, but not all buyers and sellers are aware of this. For the first time, sellers can see what the common commission rates are in their area and work with our local licensed agents to determine a selling plan that fits best with their specific needs,” explains ZipRealty CEO Patrick Lashinsky. “We continue to offer innovative services that bring more transparency to the home buying and selling process.”

Additional New Features: Short Sales, Fixer-Upper Search Tools and Sales Trend Data
The “Choose Your Own Selling Plan” is part of a larger roll-out of new features, including enhanced search criteria that allows buyers to search for specific properties described as “short sales,” “fixer-uppers” or by the popularity of a listing. A “short sale” generally refers to a situation when a seller owes more than the market value of the home and may be selling to avoid foreclosure.

Additionally, a new Sales Trends tool tracks key real estate information on a very local level. On each home’s detail page, the new “Sales Trends” tab provides detailed information via graphs and data on a region’s selling patterns for both single family residences and condominiums. Users can view the median price per square foot, number of sales, median sales price, and median list price. Also displayed is the number of sales, the sale to list price ratio and the average days on market.

For more information, visit www.ziprealty.com or call 1-800-CALL-ZIP (1-800-225-5947).

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