System and method for collection, distribution, and use of information in connection with commercial real estate

• US 20020065739A1
• Filed: 10/11/2001
• Published: 05/30/2002
• Est. Priority Date: 10/23/2000
• Status: Active Grant

• Current Assignee: Costar Realty Information Incorporated (CoStar Group Inc.)
• Original Assignee: CoStar Group Inc.
• Inventors: Florance, Andrew C., Stanfill, John, Farrington, Craig, Klionsky, Mark
• Granted Patent: US 7,076,452 B2
• Time in Patent Office: Days
• US Class Current: 705/26
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0617 Representative agent
• CPC Class Codes: G06Q 30/0643 Graphical representation of items or shoppers
• CPC Class Codes: G06Q 50/16 Real estate

Abstract

A system and method for creating a unified commercial real estate data model through collection, distribution and use of information in connection with commercial real estate and for creating a web-based marketplace that facilitates the efficient and secure buying and selling of commercial properties. The invention provides a digital marketplace in which the members of the commercial real estate and related business community can continuously interact and facilitate transactions by efficiently exchanging accurate and standardized information.

Claims

1. In a system comprising a database containing information regarding commercial real estate properties, wherein each property is associated with a market criteria, and wherein the information includes at least one category of comparable real estate sales, tenant information, for-lease information, and for-sale information, a method for selling a subscription that allows users to search the database, the method comprising the steps of:

associating a subscription status with each user, wherein the subscription status identifies the market criteria and information categories that the user can search;

providing a user with other information beyond at least one of the market criteria and the information categories that the user can search; and

collecting a fee from the user.

2. The system of claim 1, wherein the market criteria is a geographic region.

4. The system of claim 2, wherein the tenant criteria is the name of a tenant.

5. The system of claim 2, wherein the plurality of markets comprises the United States.

6. The system of claim 2, wherein the tenant information comprises at least one of a tenant name, an identity of a building occupied by tenants, a building photograph, a tenant business type, a lease term, and a lease price.

8. The system of claim 6, wherein the quality identification is one of for-sale entries, unverified entries, and verified entries.

9. The system of claim 6, wherein the quality identification indicates results of potentially less reliability.

3. In a system comprising a database containing commercial real estate tenant information from a plurality of markets, a method for searching the database comprising the steps of:

receiving a query identifying tenant criteria, wherein the tenant criteria corresponds to a geographic location in the plurality of markets;

searching, in the database, for tenant information that satisfies the tenant criteria; and

plotting, on a map, icons that represent the tenant information that satisfies the tenant criteria, wherein the icons are located on the map to indicate the geographic location corresponding to the tenant information.

7. In a system comprising a database containing commercial real estate information, wherein the database comprises for-sale information and comparable sales information, a method comprising the steps of:

associating each entry in the database with a quality identification;

receiving a query identifying criteria;

searching the database for entries that satisfy the criteria;

reporting entries that satisfy the criteria; and

flagging each entry that satisfies the criteria with its quality identification.

10. A system and method for coordinating the collection of data concerning distinct but related categories of information comprising:

means for entering information concerning one category of information;

means for determining relevance of the entered information to other categories of information;

means for notifying researchers responsible for the other categories that the entered information has been collected; and

means for providing the entered information to the researchers.

12. The method of claim 10, wherein the step of retrieving comprises retrieving property information that is associated with one of a particular agent and a brokerage company, and wherein the step of displaying comprises displaying, in the linked portion, property information that is associated with the one of a particular agent and a brokerage company.

11. A method for supplying content from a central commercial real estate database to an affiliated web site comprising the steps of:

providing a graphical user interface, having a modifiable portion and having a linked portion, in communication with the central commercial real estate database;

displaying, in the modifiable portion, content that is customized for the affiliated web site;

retrieving property information from the central commercial real estate database, wherein the property information is associated with the affiliated web site; and

displaying the property information in the linked portion.

14. The method of claim 12, wherein each tenant segment lists a name of a corresponding tenant.

15. The method of claim 12, wherein the user selects a particular tenant segment by one of clicking through and dragging over the particular tenant segment.

13. A method for providing tenant information relating to a commercial real estate property comprising the steps of:

displaying an image that represents a physical appearance of the property;

segmenting the image into tenant segments to indicate spaces that tenants occupy in the property;

linking the tenant segments to corresponding data entries in a tenant information database;

allowing a user to select a particular tenant segment; and

in response to selection of the particular tenant segment, retrieving from the tenant information database a particular data entry corresponding to the particular tenant and displaying information from the particular data entry.