ZipRealty (FRA:FQK) Allowance For Loans And Lease Losses

ZipRealty, Inc., was incorporated under the laws of the state of California in 1999. The Company is an online, technology-enabled real estate brokerage company in the United States. It owned-and-operated real estate brokerage serves 19 metropolitan markets with over 1,500 licensed REALTORS. The Company serves an additional 15 markets through its Powered by Zip, or PBZ, business, which provides its technology platform as an enterprise cloud-based application. It operates ZipRealty.com, the often visited brokerage website with approximately 2.4 million unique monthly visitors. It also provides consumers with mobile applications that offer all of the key features of its website and optimize them for all major platforms and devices. As the direct result of offering the accurate, timely and comprehensive housing information, buyers using its services can quickly find relevant home listings that meet their search criteria and are well positioned when they are ready to interact with local REALTORS affiliated with its owned-and-operated brokerage or its PBZ network. The Company serves real estate professionals in its owned-and-operated brokerage business. Its conducts its owned-and-operated brokerage services in 19 markets nationwide, all of which were opened prior to May 2009: Austin, TX, Baltimore, MD, Boston, MA, Chicago, IL, Dallas, TX, Denver, CO, Houston, TX, Las Vegas, NV, Los Angeles, CA, Orange County, CA, Orlando, FL, Phoenix, AZ, Richmond, VA, Sacramento, CA, San Diego, CA, the San Francisco Bay area, CA, Seattle, WA, Portland, OR, and Washington, DC. Powered by Zip network serves leading local brokerages in 15 markets where the company do not otherwise conduct business: Atlanta, GA, Jacksonville, FL, Nashville, TN, the Greater Philadelphia area, PA, Raleigh-Durham, NC, Salt Lake City, UT, Tucson, AZ, Westchester/Bronx, NY, Tampa, FL, Palm Beach, FL, Long Island, NY, Brooklyn, NY, Miami, FL., Minneapolis, MN, and Virginia Beach, VA. It competes for mindshare among serious real estate consumers with companies that have developed or could develop national and local real estate websites and mobile applications. The Company is subject to federal and state regulations relating to its employment and compensation practices.