Virtual real estate brokage system

• US 20020052814A1
• Filed: 07/10/2001
• Published: 05/02/2002
• Est. Priority Date: 07/10/2000
• Status: Abandoned Application

• Current Assignee: Robert M. Ketterer
• Original Assignee: Robert M. Ketterer
• Inventors: Ketterer, Robert M.
• Application Number:
  US09/901,795
• Publication Number:
  US 20020052814A1
• Time in Patent Office: Days
• US Class Current: 705/35
• 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

Abstract

An electronic, virtual real estate brokerage system and method for guiding buyers and sellers of real estate through the process of a real estate transaction including listing of the property, searching of listed properties, scheduling of property showings, evaluation of buyer credit worthiness, negotiating the terms of sale, and providing all documents for closing, all over a communications and knowledge management network, preferably the internet. The system provides a forum for obtaining complementary services such as financing, title searches, title insurance and the like. The system provides two sets of user interfaces to accomplish all of the aforementioned functions; one set of interfaces for the sellers and one set for the prospective buyers of real estate.

Claims

1. A method of conducting on-line real estate brokerage services over the internet, the method comprising the steps of:

a) receiving on a host computer property listings from remote personal computers via the internet;

said property listings including descriptive indicia, price, digital photographs and/or streaming video, all relating to each property for sale;

b) storing said property listings in a searchable database on said host computer;

c) allowing prospective buyers to search for and display on their remote personal computers any or all of said property listings via the internet;

d) receiving on said host computer from said remote personal computers information and authorizations necessary to procure credit histories of said prospective buyers;

e) receiving on said host computer said credit histories of said prospective buyers from remote computers of outside credit information providers via the internet;

f) transmitting said credit history from said host computer to said remote personal computers of said sellers via the internet or alternatively allowing said remote personal computers to access said information on said host computer;

g) permitting said prospective buyers and said sellers to schedule showing dates and times on said host computer via the internet;

h) permitting said prospective buyers and said sellers to negotiate the terms of sale of the listed properties through said host computer via the internet;

i) receiving on said host computer from said remote personal computer of said prospective buyers and said sellers data for the completion of all required real estate sales documentation;

j) preparing and transmitting to said prospective buyers and said sellers all required real estate sales documentation for signature;

k) verifying the sale of said listed properties with federal, state and/or local registries; and

l) providing for payment of host computer usage fees via the internet from buyers and sellers who have consummated a sale.

2. A remote self-service real estate brokerage system on the internet comprising:

a) means for allowing sellers of real estate to provide property listing information on a central host computer via the internet;

b) means for allowing prospective buyers of real estate to access and retrieve said property listing information via the internet;

c) means for allowing said central host computer to obtain credit history data pertaining to said prospective buyers from remote credit information servers and communicating said credit history data to said sellers all via the internet;

d) means for permitting said sellers and said prospective buyers to schedule showings of said real estate and to negotiate the terms of sale of said real estate all via the internet;

e) means for providing said sellers and said prospective buyers via the internet all documentation necessary to consummate the sale of said real estate;

f) means for verifying with federal, state and/or local registries via the internet the sale of said real estate; and

g) means for paying the operator of said central host computer via the internet for use of the subject self-service real estate brokerage system.

3. A remote self-service real estate brokerage system on the internet comprising:

a) a host system;

b) a plurality of remote data terminals and processors;

c) processing means within said host system including a central processing unit and associated memory means;

d) data transmission means providing a signal path for data exchange between said host system and said plurality of data terminals and processors;

e) communications means associated with said host system, said communications means being controlled by said processing means to provide and receive data transmissions between said host system and said remote terminals;

f) data storage means within said host system, said data storage means maintaining a plurality of data records and files of different types including property records, seller records, buyer records, prospective sales records and sales records;

g) means for allowing said central host computer to obtain credit history data pertaining to said prospective buyers from remote credit information servers and communicating said credit history data to said sellers all via the internet;

h) means for permitting said sellers and said prospective buyers to schedule showings of said real estate and to negotiate the terms of sale of said real estate all via the internet;

i) means for providing said sellers and said prospective buyers via the internet all documentation necessary to consummate the sale of said real estate;

j) means for verifying with federal, state and/or local registries via the internet the sale of said real estate; and

k) means for paying the operator of said central host computer via the internet for use of the subject self-service real estate brokerage system.