NEWS FLASH: ZipRealty to Shutter Offices in 11 markets

NEWS FLASH

ZipRealty to shutter offices in 11 markets

ZipRealty Inc. is closing company owned and operated brokerages in almost a dozen markets, and will begin emphasizing personalized service and the experience of its agents over the commission rebates and discounted listing fees the company was founded on.

The restructuring and organizational changes announced Monday -- which also include a local referral agreement in the Atlanta market, a first for the company -- are aimed at helping the brokerage "achieve positive cash flow" in 2011, the company said.

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