Realogy Creates Tech Arm to Spur Innovation

June 17, 2016

Realogy Holdings Corp. announced this week that it is creating ZapLabs LLC to foster greater use of technology and innovation in real estate. ZapLabs was formerly operated as ZipRealty’s technology development group. But Realogy hopes the new positioning of ZapLabs will more clearly identify its focus and aim to bring about change in the real estate industry.

“ZapLabs serves as a supercharged engine for technology and innovation at Realogy,” says Alex Perriello, president and CEO of the Realogy Franchise Group.

Realogy acquired ZipRealty in August 2014. Since then, the company’s technology platform Zap has become a key differentiator for Realogy’s franchise brands. ZapLabs will set out “to expand the scope of its technology development efforts to encompass all Realogy’s business segments,” a press release states.

“Our new branding as ZapLabs reflects our accelerated drive to innovate, create and bring transformation to the business of real estate,” says Jamie Wilson, president and CEO of ZapLabs. “More than 48,000 real estate agents affiliated with a Realogy brand are already using Zap, our flagship technology solution, and that is just the beginning. Every day we continue to deliver the Zap ecosystem deeper into Realogy’s franchise networks – and we are passionate about developing new technologies that have the power to transform the consumer experience.”

Source: Realogy Holdings Corp.