SOURCE: ZipRealty

ZipRealty

June 21, 2010 08:00 ET

ZipRealty Launches Tools, Provides Experts to Help Buyers and Sellers Navigate the Complicated Short Sale Market

New Pending Home Sales Map Shows Consumers Which Homes Are Selling Now

EMERYVILLE, CA--(Marketwire - June 21, 2010) -  ZipRealty (NASDAQ: ZIPR) (www.ziprealty.com), the fifth largest real estate brokerage in the U.S., offers its clients access to more than 290 short sale home expert agents and today launched a Ziprealty.com microsite (www.ziprealty.com/short-sales/index.jsp) offering house hunters and home sellers additional resources to navigate the complicated short sale process.

Due to the unique structure of the short sale process, ZipRealty has worked with sales agents in each of the 35 markets the company serves to ensure they exceed industry standards for expertise in this growing segment of the market. Through completing one of three industry-certification programs -- National Association of REALTOR's Short Sales and Resource Certification (SFR), Certified Distressed Property Expert (CDPE) or Five Star Institute Short Sale Certification -- these ZipRealty local market experts are fully prepared to assist sellers in qualifying for short sales, negotiate with lenders, and inform buyers about the short sale process.

ZipRealty.com now also hosts a microsite (www.ziprealty.com/short-sales) to help homebuyers and sellers learn more about the complex issues that arise with short sales. The site includes tips, guidance and videos to address many questions that arise in a short sale, and also allows buyers and sellers to connect directly with local-market Short Sale Certified ZipRealty Agents.

"While nearly 13 percent of home listings across our markets nationwide are currently short sale properties, many clients are confused about how these sales differ from standard sales, and we want to help eliminate this confusion through education," said ZipRealty President and CEO Patrick Lashinsky. "Many reports indicate that more short sale homes may come onto the market this year as a result of federal policies such as HAMP and HAFA. The information contained within our microsite, and access to short sale real estate agent experts, is designed to help our clients who are considering whether buying or selling a short sale property is the right decision for them."

Resources available on ZipRealty's microsite for homeowners considering listing their home as a short sale include:

  • Information regarding some of the factors lenders evaluate in approving a short sale
  • An easy-to-follow video discussing the short sale process and tips
  • The role of a real estate agent throughout the process
  • Information regarding various loan modification programs
  • How the Home Affordability Modification Program (HAMP) and Home Affordable Foreclosure Alternatives (HAFA) program can help

For homebuyers shopping for short sale homes, the following resources are available:

  • A "how-to" video and introduction regarding the ins-and-outs of buying a short sale home
  • Tips about what to look out for and expect during the buying process
  • Seven key questions to consider
  • The role of a real estate agent during the searching and buying process

To provide its clients with even more useful information and transparency into the housing market, ZipRealty is also now the first and only brokerage to launch an interactive "pending homes map" (http://pending.ziprealty.com/) that shows homes that have just gone under contract and are pending in sale from brokerages throughout the U.S. This map (http://pending.ziprealty.com/) shows homes that have gone off the market in the past one to two days from all brokerages in the markets ZipRealty serves, as well as the last five homes sold nationwide.

About ZipRealty, Inc.
ZipRealty is a full-service residential real estate brokerage firm. The Company utilizes its user-friendly website and employee real estate agents to provide home buyers and sellers with high-quality service and value. ZipRealty's website provides users with access to comprehensive local Multiple Listing Services' home listings data, as well as other relevant market and neighborhood information. The Company's proprietary business management system and technology platform help to reduce costs, allowing the Company to pass on significant savings to consumers. Founded in 1999, the company operates in 35 major markets in 22 states and the District of Columbia. For more information on ZipRealty, visit www.ziprealty.com or call 1-800-CALL-ZIP.

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