×

Valuation tool for an online auction of a real property asset

  • US 10,380,679 B2
  • Filed: 03/13/2014
  • Issued: 08/13/2019
  • Est. Priority Date: 03/15/2013
  • Status: Active Grant
First Claim
Patent Images

1. A computer-implemented method for providing a user interface for managing an online auction for a real property asset, the method being implemented by a network system and comprising:

  • providing, to a computing device of a seller of the real property asset, the user interface that includes one or more prompts for soliciting information associated with the real property asset;

    receiving, via the user interface from the computing device of the seller, data associated with the real property asset;

    based on the received data associated with the real property asset, accessing a database connectively coupled with the network system to extract geographic information regarding the real property asset and to identify one or more comparable assets to the real property asset;

    determining a set of time factors for the one or more comparable assets, each of the set of time factors indicating a respective duration a corresponding one of the one or more comparable assets is listed for sale;

    generating, based on a plurality of estimation components, an auction reserve suggestion for the real property asset, the plurality of estimation components being determined based on the received data associated with the real property asset, the extracted geographic information, the one or more comparable assets, and the set of time factors;

    causing the user interface to be updated on the computing device to display the auction reserve suggestion, the plurality of estimation components, and one or more user interface features to receive user input to modify the one or more of the plurality of estimation components;

    in response to receiving, via the user interface, user input to modify one or more of the plurality of estimation components, generating an updated auction reserve suggestion and causing the user interface to be further updated on the computing device to display the updated auction reserve suggestion; and

    in response to receiving, via the user interface, user authorization of the updated auction reserve suggestion, updating a reserve price associated with the online auction for the real property asset to the updated auction reserve suggestion such that the real property asset is deemed as sold for the online auction only when the updated reserve price is reached during the online auction.

View all claims
  • 8 Assignments
Timeline View
Assignment View
    ×
    ×