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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>UNITED STATES</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SECURITIES AND EXCHANGE
COMMISSION</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B></B>&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CURRENT REPORT&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>Pursuant to Section&nbsp;13
or 15(d) of</B>&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">the Securities Exchange Act of 1934</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Date of report (Date of
earliest event reported): <B>March 8, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 0in; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">ZIPREALTY, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 0in; font-size: 10pt; text-align: center">(Exact Name of Registrant as Specified in Its Charter)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; padding-right: 5.45pt; text-align: center; font-weight: bold; text-decoration: none; border-bottom: Black 1pt solid">Delaware</TD>
    <TD STYLE="width: 2%; padding-right: 5.45pt; text-align: left; font-weight: bold; text-decoration: none">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-right: 5.45pt; text-align: center; font-weight: bold; text-decoration: none; border-bottom: Black 1pt solid">000-51002</TD>
    <TD STYLE="width: 2%; padding-right: 5.45pt; text-align: center; font-weight: bold; text-decoration: none">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-right: 5.45pt; text-align: center; font-weight: bold; text-decoration: none; border-bottom: Black 1pt solid">94-3319956</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.45pt; text-indent: 0in; text-align: center">(State or Other Jurisdiction of Incorporation)</TD>
    <TD STYLE="padding-right: 5.45pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.45pt; text-indent: 0in; text-align: center">(Commission File Number)</TD>
    <TD STYLE="padding-right: 5.45pt; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.45pt; text-indent: 0in; text-align: center">(I.R.S. Employer Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 0in; font-weight: bold; text-align: center">2000 Powell Street, Suite 300</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 0in; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Emeryville, CA&nbsp; 94608</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 0in; text-align: center">(Address of Principal Executive Offices)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 0in; text-align: center">(Zip Code)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 0in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 0in; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">510-735-2600</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 0in; text-align: center">(Registrant&rsquo;s Telephone Number, Including Area Code)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 0in; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 0in; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Not Applicable</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 0in; text-align: center">(Former Name or Former Address, if Changed Since Last Report)</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.25pt; text-indent: -14.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.25pt; text-indent: -14.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.25pt; text-indent: -14.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.25pt; text-indent: -14.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Item 1.01.&#9;Entry into a Material Definitive
Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 8,2012, the Board of Directors
of ZipRealty, Inc. (the &ldquo;Company&rdquo;) adopted an amendment under Section 10(f) of the Company&rsquo;s 2004 Equity Incentive
Plan and revised the Company&rsquo;s Director Compensation Policy to increase the annual automatic stock option grant for the Company&rsquo;s
Chairman of the Board from 6,666 shares to 10,000 shares. Copies of the amendment and the revised Director Compensation Policy
are filed as exhibits to this report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Item 8.01.&#9;Other Events.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 8, 2012, the Company&rsquo;s Board
of Directors approved a stock option grant to each non-employee director for 50,000 shares at an exercise price of $1.25 per share,
which was the closing price of the Company&rsquo;s common stock on the NASDAQ Stock Market on the date of grant. Each option vests
in full on the first anniversary of the date of grant, subject to the director&rsquo;s continued service to the Company on that
date. Each option was granted under and is governed by the terms of the Company&rsquo;s 2004 Equity Incentive Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Item 9.01&#9; Financial Statements and
Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.25in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">10.3(b)&#9;First Amendment under
2004 Equity Incentive Plan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">10.5(a)&#9;Director Compensation
Policy, revised March 8, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; padding-right: -4.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: -4.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -4.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; padding-right: -4.5pt; font-weight: bold">ZIPREALTY, INC.</TD>
    <TD STYLE="vertical-align: bottom; padding-right: -4.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -4.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -4.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: -4.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -4.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: -4.5pt">a Delaware corporation</TD>
    <TD STYLE="vertical-align: top; padding-right: -4.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: -4.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -4.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -4.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: -4.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -4.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -4.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: -4.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: -4.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -4.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-indent: 0in">Dated:</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; text-indent: 0in">March 13, 2012</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-indent: 0in">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: windowtext 1pt solid; vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-indent: 0in">/s/ Samantha E. Harnett</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-indent: 0in">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; tab-stops: right 6.7in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; tab-stops: right 6.7in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; tab-stops: right 6.7in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; tab-stops: right 6.7in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; tab-stops: right 6.7in">Samantha E. Harnett</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; tab-stops: right 6.7in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; tab-stops: right 6.7in">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; font-style: italic">Vice President and</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; font-style: italic">General Counsel</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>INDEX TO EXHIBITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 0in; font-weight: bold; border-bottom: Black 1pt solid">Exhibit</TD>
    <TD STYLE="width: 82%; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 0in; font-weight: bold; border-bottom: Black 1pt solid">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt">10.3(b)</TD>
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt">First Amendment under 2004 Equity Incentive Plan</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt">10.5(a)</TD>
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt">Director Compensation Policy, revised March 8, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; border-bottom: Black 1pt solid; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 6pt 5.4pt 1pt; border-bottom: Black 1pt solid">&nbsp;&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

<p>&nbsp;</P>

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{"company-data": {"conformed-name": "ZIPREALTY INC", "cik": "0001142512", "assigned-sic": "6531", "irs-number": "943319956", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-51002", "film-number": "12687196"}, "business-address": {"street1": "2000 POWELL STREET, SUITE 300", "city": "EMERYVILLE", "state": "CA", "zip": "94608", "phone": "510-735-2600"}, "mail-address": {"street1": "2000 POWELL STREET, SUITE 300", "city": "EMERYVILLE", "state": "CA", "zip": "94608"}}
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13
or 15(d) of
the Securities Exchange Act of 1934
Date of report (Date of
earliest event reported):
March 8, 2012
ZIPREALTY, INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
000-51002
94-3319956
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)
2000 Powell Street, Suite 300
Emeryville, CA  94608
(Address of Principal Executive Offices)
(Zip Code)
510-735-2600
(Registrant's Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
£
Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)
£
Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)
£
Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
£
Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01.	Entry into a Material Definitive
Agreement.
On March 8,2012, the Board of Directors
of ZipRealty, Inc. (the "Company") adopted an amendment under Section 10(f) of the Company's 2004 Equity Incentive
Plan and revised the Company's Director Compensation Policy to increase the annual automatic stock option grant for the Company's
Chairman of the Board from 6,666 shares to 10,000 shares. Copies of the amendment and the revised Director Compensation Policy
are filed as exhibits to this report.
Item 8.01.	Other Events.
On March 8, 2012, the Company's Board
of Directors approved a stock option grant to each non-employee director for 50,000 shares at an exercise price of $1.25 per share,
which was the closing price of the Company's common stock on the NASDAQ Stock Market on the date of grant. Each option vests
in full on the first anniversary of the date of grant, subject to the director's continued service to the Company on that
date. Each option was granted under and is governed by the terms of the Company's 2004 Equity Incentive Plan.
Item 9.01	 Financial Statements and
Exhibits.
(d)
Exhibits.
10.3(b)	First Amendment under
2004 Equity Incentive Plan
10.5(a)	Director Compensation
Policy, revised March 8, 2012
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
ZIPREALTY, INC.
a Delaware corporation
Dated:
March 13, 2012
By:
/s/ Samantha E. Harnett
Samantha E. Harnett
Vice President and
General Counsel
INDEX TO EXHIBITS
Exhibit
Description
10.3(b)
First Amendment under 2004 Equity Incentive Plan
10.5(a)
Director Compensation Policy, revised March 8, 2012