Method and system for providing real estate information

• US 20020035535A1
• Filed: 07/13/2001
• Published: 03/21/2002
• Est. Priority Date: 07/26/2000
• Status: Active Grant

• Current Assignee: Yardi Systems Incorporated
• Original Assignee: Pierce-Eislen
• Inventors: Brock, Ronald G. Sr.
• Granted Patent: US 7,974,930 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/0278 Product appraisal
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 50/16 Real estate

Abstract

An interactive, computer-implemented system for providing a comparison of at least two real estate properties is provided. The system includes a database that stores a plurality of data relating to real estate properties. The data includes at least one of address data, ownership data, size data, geographic location data and monetary value data. An interface system enables a system user to input a request for a comparison of at least a portion of the data for at least two of the real estate properties. The request includes information sufficient to identify the real estate properties to be compared. A processor uses the information to obtain a comparison of the data relating to the real estate properties. A delivery system provides to the system user a comparison of the data relating to the real estate properties.

Claims

1. An interactive, computer-implemented system for providing a comparison of at least two of a plurality of real estate properties, said system comprising:

a real estate database storing data for each of said plurality of real estate properties, said data comprising at least one of address data, ownership data, physical characteristics data, size data, geographic location data and monetary value data;

an interface system for enabling a system user to input a request for a comparison of at least a portion of said data of said at least two of said plurality of real estate properties, said request comprising information sufficient to identify said at least two of said plurality of real estate properties;

a processor which uses said information to obtain said comparison of at least a portion of said data of said at least two of said plurality of real estate properties; and

a delivery system for providing to said system user said comparison of at least a portion of said data of said at least two of said plurality of real estate properties.

2. The interactive, computer-implemented system of claim 1, further comprising an input system configured to permit the inputting of real estate property data into said database.

3. The interactive, computer-implemented system of claim 1, further comprising a subscriber database for storing data relating to subscribers to said system.

4. The interactive, computer-implemented system of claim 1, wherein said processor is configured to provide a physical rating for each of said at least two of said plurality of real estate properties.

5. The interactive, computer-implemented system of claim 1, wherein said processor is configured to provide a location rating for each of said at least two of said plurality of real estate properties.

6. A method for calculating a physical rating of a subject real estate property, said method comprising:

selecting a plurality of physical factors generally associated with real estate properties of a type similar to that of the subject real estate property;

attributing a weight indicator having a numerical representation to each of said plurality of physical factors;

evaluating each of said plurality of physical factors and attributing to said each of said plurality of physical factors a factor score;

obtaining a total weighted score based on said plurality of factor scores and;

obtaining a physical rating based on said total weighted score and a sum of said weight indicators.

7. The method of claim 6, wherein said obtaining a total weighted score comprises:

multiplying each factor score for each of said plurality of physical factors by said weight indicator attributed to said each of said plurality of physical factors to obtain a weighted score for said each of said plurality of physical factors;

dividing said plurality of physical factors into a plurality of sets having a number of physical factors, wherein said weight indicators of each of said plurality of physical factors in said each of said plurality of sets are equal;

for each of said plurality of sets, adding said weighted scores for each of said plurality of physical factors in said each of said sets to obtain a total score for said each of said plurality of sets;

dividing each of said total scores for each of said plurality of sets by said number of physical factors in said each of said plurality of sets to obtain an average score for said each of said plurality of sets; and

adding said average scores for each of said plurality of sets to obtain a total weighted score.

8. The method of claim 7, wherein said obtaining a physical rating comprises:

adding said weighted indicators of said plurality of sets of physical factors to obtain a total weight indicator; and

dividing said total weighted score by said total weight indicator to obtain a physical score.

9. The method of claim 6, wherein said subject real estate property is an apartment complex.

10. The method of claim 6, wherein said subject real estate property is a single family home.

11. The method of claim 6, wherein said subject real estate property is a commercial property.

12. The method of claim 6, further comprising converting said physical rating to an alphabetic score.

14. The method of claim 13, wherein said subject real estate property is an apartment complex.

15. The method of claim 13, wherein said subject real estate property is a single family home.

16. The method of claim 13, wherein said subject real estate property is a commercial property.

17. The method of claim 13, further comprising converting said physical rating to an alphabetic score.

19. The method of claim 18, wherein said obtaining a total weighted score comprises:

multiplying each factor score for each of said plurality of location factors by said weight indicator attributed to said each of said plurality of location factors to obtain a weighted score for said each of said plurality of location factors;

dividing said plurality of location factors into a plurality of sets having a number of location factors, wherein said weight indicators of each of said plurality of location factors in said each of said plurality of sets are equal;

for each of said plurality of sets, adding said weighted scores for each of said plurality of location factors in said each of said sets to obtain a total score for said each of said plurality of sets;

dividing each of said total scores for each of said plurality of sets by said number of location factors in said each of said plurality of sets to obtain an average score for said each of said plurality of sets; and

adding said average scores for each of said plurality of sets to obtain a total weighted score.

20. The method of claim 19, wherein said obtaining a location rating comprises:

adding said weighted indicators of said plurality of sets to obtain a total weight indicator; and

dividing said total weighted score by said total weight indicator to obtain a location rating.

21. The method of claim 18, wherein said subject real estate property is an apartment complex.

22. The method of claim 18, wherein said subject real estate property is a single family home.

23. The method of claim 18, wherein said subject real estate property is a commercial property.

24. The method of claim 18, further comprising converting said location rating to an alphabetic score.

26. The method of claim 25, wherein said subject real estate property is an apartment complex.

27. The method of claim 25, wherein said subject real estate property is a single family home.

28. The method of claim 25, wherein said subject real estate property is a commercial property.

29. The method of claim 25, further comprising converting said location rating to an alphabetic score.

13. A method for calculating a physical rating of a subject real estate property, said method comprising:

selecting a plurality of physical factors generally associated with real estate properties of a type similar to that of the subject real estate property, said plurality of physical factors divided into sets of physical factors, each of said sets of physical factors having a number of physical factors, said number comprising at least one;

attributing to said each of said sets of physical factors a weight indicator having a numerical representation;

for said each of said sets of physical factors, evaluating each of said plurality of physical factors for said subject real estate property and attributing to said each of said plurality of physical factors a factor score to obtain a plurality of factor scores, each of said plurality of factor scores having a numerical representation based on said evaluating;

for said each of said sets of physical factors, summing said plurality of factor scores to obtain a total score;

for said each of said sets of physical factors, dividing said total score by said number of physical factors in said each of said sets of physical factors to obtain an average score;

for said each of said sets of physical factors, multiplying said average score by said weight indicator to obtain a weighted score;

adding said weighted scores of said sets of physical factors to obtain a total weighted score;

adding said weighted indicators of said sets of physical factors to obtain a total weight indicator; and

dividing said total weighted score by said total weight indicator to obtain a physical rating.

18. A method for calculating a location rating of a subject real estate property, said method comprising:

selecting a plurality of location factors generally associated with real estate properties of a type similar to that of the subject real estate property;

attributing a weight indicator having a numerical representation to each of said plurality of location factors;

evaluating each of said plurality of location factors and attributing to said each of said plurality of location factors a factor score;

obtaining a total weighted score based on said plurality of factor scores and;

obtaining a location rating based on said total weighted score and a sum of said weight indicators.

25. A method of calculating a location rating of a subject real estate property, said method comprising:

selecting a plurality of location factors generally associated with real estate properties of a type similar to that of the subject real estate property, said plurality of location factors divided into sets of location factors, each of said sets of location factors having a number of location factors, said number comprising at least one;

attributing to said each of said sets of location factors a weight indicator having a numerical representation;

for said each of said sets of location factors, evaluating each of said plurality of location factors for said subject real estate property and attributing to said each of said plurality of location factors a factor score to obtain a plurality of factor scores, each of said plurality of factor scores having a numerical representation based on said evaluating;

for said each of said sets of location factors, summing said plurality of factor scores to obtain a total score;

for said each of said sets of location factors, dividing said total score by said number of location factors in said each of said sets of location factors to obtain an average score;

for said each of said sets of location factors, multiplying said average score by said weight indicator to obtain a weighted score;

adding said weighted scores of said sets of location factors to obtain a total weighted score;

adding said weighted indicators of said sets of location factors to obtain a total weight indicator; and

dividing said total weighted score by said total weight indicator to obtain a location rating.

30. A method of calculating a market standard rent for a subject rental property having an actual rent, said method comprising:

selecting at least one rent-effecting characteristic generally associated with rental properties of a type similar to that of the subject rental property and assigning to said at least one rent-effecting characteristic a monetary value; and

adding said monetary value to said actual rent to obtain a market standard rent.

31. The method of claim 30, wherein said monetary value has one of a positive and negative value.

32. A method of calculating a market standard monetary value for a subject real estate property having an actual monetary value, said method comprising:

selecting at least one monetary value-effecting characteristic generally associated with real estate properties of a type similar to that of the subject real estate property and assigning to said at least one monetary value-effecting characteristic a characteristic monetary value; and

adding said characteristic monetary value to said actual monetary value.

33. The method of claim 32, wherein said characteristic monetary value has one of a positive and negative value.

34. The method of claim 32, wherein said subject real estate property is an apartment complex.

35. The method of claim 32, wherein said subject real estate property is a single family home.

36. The method of claim 32, wherein said subject real estate property is a commercial property.

38. The interactive, computer-implemented system of claim 37, wherein said processor is configured to select from said database each of said plurality of monetary value-effecting characteristics that are possessed by said subject real estate property and to add to said actual monetary value of said subject real estate property said characteristics value for each of said plurality of monetary value-effecting characteristics possessed by said subject real estate property.

39. The interactive, computer-implemented system of claim 37, wherein said actual monetary value is an actual sales price and said market standard monetary value is a market standard sales price.

40. The interactive, computer-implemented system of claim 37, wherein said actual monetary value is an actual rental rate and said market standard monetary value is a market standard rental rate.

37. An interactive, computer-implemented system for providing a market standard monetary value for a subject real estate property, said system comprising:

a database storing the identity of a plurality of real estate properties, an actual monetary value for each of said plurality of real estate properties, a plurality of monetary value-effecting characteristics generally associated with real estate properties of a type similar to that of the subject real estate property, and a characteristics value for each of said plurality of monetary value-effecting characteristics, said characteristic value having one of a positive and negative value;

an interface system for enabling a user to input a request for a market standard monetary value for said subject real estate property, said request comprising information sufficient to identify said subject real estate property from said plurality of real estate properties in said H database;

a processor which uses at least one of said plurality of monetary value-effecting characteristics and said characteristics value for said at least one of said plurality of monetary value-effecting characteristics to obtain a market standard monetary value for said subject real estate property; and

a delivery system for providing said market standard monetary value to said user.

41. An interactive, computer-implemented system for providing a physical rating of a real estate property, said system comprising:

a database storing;

a plurality of physical factors for each of a plurality of real estate properties, a weight indicator associated with each of said plurality of physical factors; and

a factor score associated with each of said plurality of physical factors;

an interface system for enabling a user to input a request for a physical rating for one of said plurality of real estate properties, said request comprising information sufficient to identify said one of said plurality of real estate properties in said database;

a processor which uses said information to obtain a physical rating for said one of said plurality of real estate properties; and

a delivery system for providing said physical rating to said user.

42. The interactive, computer-implemented system of claim 41, wherein said processor is configured to obtain said physical rating for said one of said plurality of real estate properties by obtaining a total weighted score based on said factor scores associated with each of said plurality of physical factors of said one of said plurality of real estate properties and said weight indicators associated with each of said plurality of physical factors of said one of said plurality of real estate properties.

43. The interactive, computer-implemented system of claim 42, wherein said processor is configured to obtain said total weighted score by:

multiplying each of said factor scores associated with each of said plurality of physical factors of said one of said plurality of real estate properties by said weight indicator associated with said each of said plurality of physical factors to obtain a plurality of weighted factor scores; and

summing said plurality of weighted factor scores to obtain a total weighted score.

44. The interactive, computer-implemented system of claim 43, wherein said processor is configured to obtain said physical rating by summing said weight indicators to obtain a total weight indicator and dividing said total weighted score by said total weight indicator.

45. The interactive, computer-implemented system of claim 41, wherein said processor is further configured to convert said physical rating to an alphabetic score.

47. The interactive, computer-implemented system of claim 46, wherein said processor is configured to obtain said location rating for said one of said plurality of real estate properties by obtaining a total weighted score based on said factor scores associated with each of said plurality of location factors of said one of said plurality of real estate properties and said weight indicators associated with each of said plurality of location factors of said one of said plurality of real estate properties.

48. The interactive, computer-implemented system of claim 47, wherein said processor is configured to obtain said total weighted score by:

multiplying each of said factor scores associated with each of said plurality of location factors of said one of said plurality of real estate properties by said weight indicator associated with said each of said plurality of location factors to obtain a plurality of weighted factor scores; and

summing said plurality of weighted factor scores to obtain a total weighted score.

49. The interactive, computer-implemented system of claim 48, wherein said processor is configured to obtain said location rating by summing said weight indicators to obtain a total weight indicator and dividing said total weighted score by said total weight indicator.

50. The interactive, computer-implemented system of claim 46, wherein said processor is further configured to convert said location rating to an alphabetic score.

46. An interactive, computer-implemented system for providing a location rating of a real estate property, said system comprising:

a database storing;

a plurality of location factors for each of a plurality of real estate properties, a weight indicator associated with each of said plurality of location factors; and

a factor score associated with each of said plurality of location factors;

an interface system for enabling a user to input a request for a location rating for one of said plurality of real estate properties, said request comprising information sufficient to identify said one of said plurality of real estate properties in said database;

a processor which uses said information to obtain a location rating for said one of said plurality of real estate properties; and

a delivery system for providing said location rating to said user.