Today’s press release:
EMERYVILLE, Calif. – July 1, 2011 – ZipRealty, the nationally-ranked, full-service real estate brokerage powered by proprietary technology and effective online marketing, announced today that the Company is discontinuing the commission rebate program offered to buyers who close a transaction using a ZipRealty real estate agent. This announcement continues a series of strategic changes the Company has made over the past several months to reposition ZipRealty to capitalize on its core strengths in customer service, industry-leading technology, and efficient online marketing capabilities. The rebate program will end effective July 15, 2011.
“Our recent strategic changes are aimed at addressing the realities of today’s real estate market and moving us closer to our financial goals. We are working to evolve the Company’s position in the market, upgrading our customer experience online and offline, and enhancing flexibility and opportunity for our agents,” said Lanny Baker, Chief Executive Officer of ZipRealty. “Extensive customer surveys and a series of pilot tests revealed that our current rebate program is not the primary driver for choosing to work with ZipRealty and our talented agents. Recent tests and focus groups have shown that consumers are motivated to use ZipRealty because of our technology and our service-oriented local real estate agents. We are focusing on these core strengths, and seek to develop our technology and service to far exceed online search in helping buyers discover the right real estate.
Are the days of commission rebates over?
Would a rebate make a difference for you?