ZipRealty Opens Door to Comments, Ratings on Listed Homes via New 'Client Ratings' Feature

EMERYVILLE, Calif., — Consumers shopping for a home can now see actual reviews and comments posted by their peers about properties for sale thanks to a new "Client Ratings" feature introduced by ZipRealty this week.

In a first for the real estate industry, national residential real estate brokerage ZipRealty (Nasdaq: ZIPR), will enable home buyers and sellers to weigh in with their own reviews and ratings on most of the 900,000 homes listed on the Multiple Listing Service in ZipRealty's 19 active markets, including San Francisco, Los Angeles, Washington, D.C., Boston, Miami, Houston and Seattle, among others.

Within the new "Client Ratings" area of the company's Web site (www.ziprealty.com), registered ZipRealty users are able to rate each property on a scale from one to five, with five being an excellent rating, based on four criteria: overall rating, curb appeal, interior appeal and quality of neighborhood. Additionally, a free-form section provides consumers the option to post additional comments about a home, community or other relevant thoughts. Once posted, anyone viewing that home can see the ratings and comments posted by other ZipRealty registered users.

"ZipRealty continues to sit at the forefront of the real estate industry by bringing the voice of the consumer to home listings through an active, online community interested in sharing information with one another," said Patrick Lashinsky, ZipRealty's Senior Vice President, Product Strategy. "Similar to leading companies in other industries that have applied a similar peer review concept, from TripAdvisor to Amazon.com, ZipRealty is committed to providing forums for open communication to ultimately assist each client to make the best decision possible."

To post feedback or rate a home, a consumer must be registered with ZipRealty on its Web site. Users then click on the "Client Ratings" icon at the top of each Home Detail page to view all public content. All comments are reviewed before they're posted to ensure that inappropriate or demeaning language is not included.

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 homebuyers and sellers with high-quality service and value. Founded in 1999, the Company currently operates in 19 major metropolitan areas in 12 states and the District of Columbia. The Company's client-centric business strategy utilizes a sophisticated Web site, which enables homebuyers 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. For more information on ZipRealty, visit www.ziprealty.com or call 1-800-CALL-ZIP (1-800-225-5947).

Cautionary Language

This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the federal securities laws, including statements concerning the future terms and viability of the Company's Client Ratings service and the efficacy of the pre-posting reviews process. The forward-looking statements are subject to risks and uncertainties that could cause actual events to differ materially from those projected, including the risk factors set forth in the Form 10-Q filed with the SEC by the Company for its fiscal quarter ended June 30, 2006. ZipRealty assumes no obligation to update the forward-looking statements included in this release.