“Choose Your Own Selling Plan” Feature Joins Added Search Criteria and Local Sales Trends Data as New Web Site User Tools
Home sellers working with national real estate brokerage, ZipRealty (www.ziprealty.com) (NASDAQ:ZIPR) 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. 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.
About ZipRealty
ZipRealty is a full-service residential real estate brokerage firm. The Company uses the Internet, proprietary technology and efficient business processes to provide home buyers and sellers with high-quality service and value. Founded in 1999, the Company currently operates in 30 major metropolitan areas in 17 states and the District of Columbia. The Company’s client-centric business strategy utilizes a sophisticated Web site, which enables home buyers and sellers to access comprehensive local Multiple Listing Services home listings data and other relevant information. The Company also utilizes a proprietary business management technology platform, which reduces costs and allows the Company to pass on significant financial savings to consumers. This Internet-enabled, technology-driven, employee-based model provides the Company with a distinct competitive advantage, allowing ZipRealty to consistently deliver outstanding service to clients. From January to March 2007, www.ziprealty.com was ranked as the ninth most trafficked Web site by Hitwise in the United States Real Estate category. For more information on ZipRealty, visit www.ziprealty.com or call 1-800-CALL-ZIP (1-800-225-5947).