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

• US 20040030616A1
• Filed: 06/06/2003
• Published: 02/12/2004
• Est. Priority Date: 02/25/2000
• Status: Active Grant

• Current Assignee: Costar Realty Information Incorporated (CoStar Group Inc.)
• Original Assignee: CoStar Group Inc.
• Inventors: Bulkin, Vladimir, Glick, Michael, Florance, Andrew, Violagis, Constantine, Newmister, Mark, Foster, Bruce, Schaffel, David, Choi, John, Stroman, Robert, Hamlin, Harlan
• Granted Patent: US 7,254,559 B2
• Time in Patent Office: Days
• US Class Current: 705/27
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• 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. The present invention also facilitates mortgage lending and provides enough information to allow lenders to underwrite a property. The present invention also provides a mobile data gathering and dissemination vehicle as well as a system tracking and dispatch of mobile vehicles. The present invention further provides correlation of data stored in a remote location to vehicle position in real time.

Claims

1. In a system that includes a system operator, a plurality of information providers, and a plurality of information customers, a method for allowing the information providers to both distribute specified information through the Internet and control dissemination of information, the method comprising the steps of:

making the information provider'"'"'s specified information available through a secured website on the Internet;

obtaining from the information provider a designation of a first subset of the information customers that are authorized to receive access to the specified information on the website; and

distributing to each one of the first subset of the information customers that are authorized to receive access to the specified information an ID that can be used to access the specified information.

2. The method for allowing the information providers to both distribute specified information through the Internet and control dissemination of information of claim 1, further comprising the steps of:

allowing a second subset of potential customers to query a searchable database containing a plurality of descriptions of information;

indicating to the second subset of potential customers that the specified information exists without revealing the specified information;

if one or more of the second subset of potential customers are interested in obtaining access to the specified information, allowing an interested potential customer to communicate a request for access directed to the system operator;

the system operator forwarding the request for access and information concerning the interested potential customer requesting access to the information provider in response to a request for access;

allowing the information provider to make a decision to grant or deny the request for access and to communicate the decision to the system operator, whereupon in response to a deny access decision, the interested potential customer is notified of the deny decision without learning the specified information, and whereupon in response to a grant access decision, the system operator grants the interested potential customer access to the specified information.

3. The method for allowing the information providers to both distribute specified information through the Internet and control dissemination of information of claim 1, wherein the system is used to facilitate exchange of information pertaining to commercial real estate available for sale, the information providers are owners or owner representatives that provide information concerning the availability of their respective properties for sale, and the information customers are potential buyers or representatives of potential buyers.

4. The method for allowing the information providers to both distribute specified information through the Internet and control dissemination of information of claim 1, further comprising the step of requiring execution of a non-disclosure agreement by each one of the first subset of the information customers that are authorized before each one of the first subset of the information customers that are authorized can access the specified information.

5. The method for allowing the information providers to both distribute specified information through the Internet and control dissemination of information of claim 4, wherein the execution of the non-disclosure agreement comprises clicking through an agreement posted on the Internet.

6. The method for allowing the information providers to both distribute specified information through the Internet and control dissemination of information of claim 2, further comprising the step of requiring the interested potential customer to execute a non-disclosure agreement prior to allowing the interested potential customer access to the specified information.

7. The method for allowing the information providers to both distribute specified information through the Internet and control dissemination of information of claim 6, wherein the interested potential customer executes the non-disclosure agreement by clicking through an agreement posted on the Internet.

8. The method for allowing the information providers to both distribute specified information through the Internet and control dissemination of information of claim 2, wherein a profile of a member of the second subset of potential customers is obtained by the system operator and transmitted to the information provider in response to a request for access.

9. The method for allowing the information providers to both distribute specified information through the Internet and control dissemination of information of claim 8, wherein before a profile of a member of the second subset of potential customers is transmitted to the information provider in response to a request for access, the system operator authenticates the profile.

10. The method for allowing the information providers to both distribute specified information through the Internet and control dissemination of information of claim 2, wherein in response to a request for access, the system operator obtains a profile of the interested potential customer, authenticates the profile, and transmits the profile to the information provider in conjunction with the request for access.

11. The method for allowing the information providers to both distribute specified information through the Internet and control dissemination of information of claim 2, wherein the system operator forwards the request for access to the information provider in response to a request for access, and requests a response from the information provider in real time through the Internet or through wireless data transmission.

12. The method for allowing the information providers to both distribute specified information through the Internet and control dissemination of information of claim 11, wherein the system operator forwards a profile of the interested potential customer with the request for access.

13. The method for allowing the information providers to both distribute specified information through the Internet and control dissemination of information of claim 2, wherein the system is used to facilitate exchange of information pertaining to commercial real estate available for sale, the information providers are owners or owner representatives that provide information concerning the availability of their respective properties for sale, and the information customers are potential buyers or representatives of potential buyers.

14. In a system that includes a system operator, a plurality of information providers, and a plurality of information customers, a method for allowing the information providers to both distribute specified information through the Internet and control dissemination of information, the method comprising the steps of:

making the information provider'"'"'s specified information available through a secured website on the Internet;

allowing potential customers to query a searchable database containing a plurality of descriptions of information;

indicating to the potential customers that the specified information exists without revealing the specified information;

if one or more of the potential customers are interested in obtaining access to the specified information, allowing an interested potential customer to communicate a request for access directed to the system operator;

the system operator forwarding the request for access and information concerning the interested potential customer requesting access to the information provider in response to a request for access;

allowing the information provider to make a decision to grant or deny the request for access and to communicate the decision to the system operator, whereupon in response to a deny access decision, the interested potential customer is notified of the deny decision without learning the specified information, and whereupon in response to a grant access decision, the system operator grants the interested potential customer access to the specified information.

15. The method for allowing the information providers to both distribute specified information through the Internet and control dissemination of information of claim 14, wherein the system is used to facilitate exchange of information pertaining to commercial real estate available for sale, the information providers are owners or owner representatives that provide information concerning the availability of their respective properties for sale, and the information customers are potential buyers or representatives of potential buyers.

16. The method for allowing the information providers to both distribute specified information through the Internet and control dissemination of information of claim 14, whereupon in response to a grant access decision, the method further comprises the step of requiring execution of a non-disclosure agreement by the interested potential customer before the system operator grants the interested potential customer access to the specified information.

17. The method for allowing the information providers to both distribute specified information through the Internet and control dissemination of information of claim 16, wherein the execution of the non-disclosure agreement comprises clicking through an agreement posted on the Internet.

18. The method for allowing the information providers to both distribute specified information through the Internet and control dissemination of information of claim 14, wherein the system is used to facilitate exchange of information pertaining to residential real estate available for sale, the information providers are owners or owner representatives that provide information concerning the availability of their respective properties for sale, and the information customers are potential buyers or representatives of potential buyers.

19. The method for allowing the information providers to both distribute specified information through the Internet and control dissemination of information of claim 14, wherein the information concerning the interested potential customer requesting access is a profile of the interested potential customer.

20. The method for allowing the information providers to both distribute specified information through the Internet and control dissemination of information of claim 19, wherein the system operator authenticates the profile of the interested potential customer before forwarding the profile to the information provider.

21. The method for allowing the information providers to both distribute specified information through the Internet and control dissemination of information of claim 14, wherein the system operator forwards the request for access to the information provider in response to a request for access, and requests a response from the information provider in real time through the Internet or through wireless data transmission.

22. A system for correlating information stored in a remote database with a user'"'"'s location, retrieving pertinent data files from the database based upon the user'"'"'s location, and automatically transmitting the selected data files to the user, the system comprising:

user equipment sets, each user equipment set comprising a display and a location determining device for generating data pertaining to the user'"'"'s location and for transmitting the data pertaining to the user'"'"'s location to a remote computer automatically;

a computer, the computer equipped for wireless communication with geographically remote users that are equipped with the equipment sets so as to send data to the equipment sets and receive data from the equipment sets including the data pertaining to the user'"'"'s location; and

a database in communication with the computer, the database storing information that includes information identifying a location of a property;

whereby, in response to receipt of the data pertaining to a user'"'"'s location, the computer automatically retrieves information pertaining to the user'"'"'s location and transmits the same to the user'"'"'s equipment set for display on the display.

23. The system for correlating information stored in a remote database with a user'"'"'s location, retrieving pertinent data files from the database based upon the user'"'"'s location, and automatically transmitting the selected data files to the user according to claim 22, wherein the each user equipment set further comprises a data input device for allowing the user to input data, wherein information is displayed on the display in a way that prompts the user to input missing information using the data input device.

24. The system for correlating information stored in a remote database with a user'"'"'s location, retrieving pertinent data files from the database based upon the user'"'"'s location, and automatically transmitting the selected data files to the user according to claim 22, wherein the display is a color display adapted for displaying photographic images.

25. The system for correlating information stored in a remote database with a user'"'"'s location, retrieving pertinent data files from the database based upon the user'"'"'s location, and automatically transmitting the selected data files to the user according to claim 22, whereby in response to receipt of the data pertaining to the user'"'"'s location, the computer automatically retrieves information describing commercial real estate near the user'"'"'s location and transmits the same to the user'"'"'s equipment set for display on the display.

26. The system for correlating information stored in a remote database with a user'"'"'s location, retrieving pertinent data files from the database based upon the user'"'"'s location, and automatically transmitting the selected data files to the user according to claim 22, whereby in response to receipt of the data pertaining to a user'"'"'s location, the computer automatically retrieves information describing residential real estate near the user'"'"'s location and transmits the same to the user'"'"'s equipment set for display on the display.

27. The system for correlating information stored in a remote database with a user'"'"'s location and retrieving pertinent data files from the database based upon the user'"'"'s location, and automatically transmitting the selected data files to the user according to claim 22, whereby in response to receipt of data pertaining to a user'"'"'s location, the computer automatically retrieves information regarding at least one of commercial enterprises and landmarks near the user'"'"'s location and transmits the same to the user'"'"'s equipment.

28. The system for correlating information stored in a remote database with a user'"'"'s location and retrieving pertinent data files from the database based upon the user'"'"'s location, and automatically transmitting the selected data files to the user according to claim 22, wherein the user'"'"'s equipment set includes audio capabilities, and the information pertaining to the user'"'"'s location includes audio data.

29. The system for correlating information stored in a remote database with a user'"'"'s location and retrieving pertinent data files from the database based upon the user'"'"'s location, and automatically transmitting the selected data files to the user according to claim 22, the computer transmits the information pertaining to the user'"'"'s location to the user'"'"'s equipment set for color display on the display.

30. The system for correlating information stored in a remote database with a user'"'"'s location and retrieving pertinent data files from the database based upon the user'"'"'s location, and automatically transmitting the selected data files to the user according to claim 22, wherein the information pertaining to the user'"'"'s location further includes information on commercial enterprises located near the user'"'"'s location, the information on commercial enterprises including information on at least one of the products, goods, and services provided by the commercial enterprises, whereby in response to receipt of the data pertaining to a user'"'"'s location, the computer automatically retrieves the information on at least one of products, goods, and services provided by commercial enterprises near the user'"'"'s location and transmits the same to the user'"'"'s equipment set.

31. The system for correlating information stored in a remote database with a user'"'"'s location and retrieving pertinent data files from the database based upon the user'"'"'s location, and automatically transmitting the selected data files to the user according to claim 22, wherein the computer automatically retrieves information describing real estate near the user'"'"'s location and the display shows a pop-up window including the information describing the real estate.

32. The system for correlating information stored in a remote database with a user'"'"'s location, retrieving pertinent data files from the database based upon the user'"'"'s location, and automatically transmitting the selected data files to the user according to claim 22, wherein the information stored in the database includes at least one of the following:

square footage available for lease;

whether a property is available for sale;

property address;

contact information; and

price.

33. The system for correlating information stored in a remote database with a user'"'"'s location, retrieving pertinent data files from the database based upon the user'"'"'s location, and automatically transmitting the selected data files to the user according to claim 32, wherein the information stored in the database also includes at least one of the following:

a digital image of the commercial real estate;

square footage data representing a square footage of the commercial real estate;

data characterizing the selected use of the commercial real estate;

rental price of the commercial real estate;

sale price of the commercial real estate;

data about the tenant in the commercial real estate;

a real estate submarket identification;

sales comparable information;

lender information;

a grade indicator of the commercial real estate, the grade indicator having an alpha numerical representation and being a function of a classification system of the commercial real estate that is consistent with accepted standards and providing a representation of the quality of the real estate;

a classification of the commercial real estate based upon at least one of the following;

a building grade, an age of the building, and an extrapolation of comparable buildings; and

information pertaining to the submarket including at least one of (i) rents, (ii) vacancy, and (iii) absorption rates for each of the submarket and nearby submarkets, and (iv) other indicators of submarket and location attractiveness.

34. The system for correlating information stored in a remote database with a user'"'"'s location, retrieving pertinent data files from the database based upon the user'"'"'s location, and automatically transmitting the selected data files to the user according to claim 32, whereby in response to receipt of the data pertaining to the user'"'"'s location, the computer automatically retrieves information describing the commercial real estate near the user'"'"'s location and transmits the same to the user'"'"'s equipment set for display on the display.

35. The system for correlating information stored in a remote database with a user'"'"'s location, retrieving pertinent data files from the database based upon the user'"'"'s location, and automatically transmitting the selected data files to the user according to claim 32, whereby in response to receipt of the data pertaining to a user'"'"'s location, the computer automatically retrieves information describing the residential real estate near the user'"'"'s location and transmits the same to the user'"'"'s equipment set for display on the display.

36. A commercial real estate information exchange and market comprising:

a database for storing information about commercial real estate, the database comprising data records, including information pertaining to lease information, sale information, comparable sales information, and tenant information; and

computers and communication equipment for allowing a plurality of users to query the database, add data to the database, and retrieve the information from the database.

37. The commercial real estate information exchange and market of claim 36, wherein the database further includes at least one of:

data about a tenant in the commercial real estate;

building-specific information including data representing an age of the commercial real estate, and data representing financial obligations and tenancy status of the tenant in the commercial real estate;

square footage data representing a square footage of the commercial real estate;

data characterizing a selected use of the commercial real estate;

cost data including a rental price of the commercial real estate;

a real estate submarket identification;

a classification of the commercial real estate based upon at least one of a building grade, an age of the building, and an extrapolation of comparable buildings; and

information pertaining to a submarket including rent data, vacancy data, and absorption rate data.

38. The commercial real estate information exchange and market of claim 36, wherein the data records include market analytic information.

39. A method for storing and automatically displaying descriptions and visual images of commercial or residential real estate on a display of a user, comprising the steps of:

generating a plurality of digitized video images of real estate, each digitized video image depicting a real estate;

storing data records concerning the real estate including the digitized video images, textual information concerning the real estate, and information identifying the location of the real estate;

determining a location of the user;

retrieving data records corresponding to the user'"'"'s location; and

displaying on the display the digitized video images and textual information from the data records corresponding to the user'"'"'s location.

40. A method for listing and brokering commercial real estate comprising the steps of:

identifying a plurality of characteristics of the commercial real estate and entering the plurality of characteristics into a data processing system to establish a first exchange market for the commercial real estate based upon the plurality of characteristics;

identifying a market value for the commercial real estate and listing the market value on the first exchange market;

determining a class of derivatives based upon a pre-selected subset of the plurality of characteristics; and

establishing a second exchange market in respect of the derivatives.

41. The method of claim 40, wherein the first exchange market and the second exchange market are co-located within the data processing system.

42. The method of claim 40, wherein the plurality of characteristics comprises:

(a) a geographic location;

(b) a start date and a finish date;

(c) a size;

(d) a class of building; and

(e) a cost.

43. A method for establishing a unified group of correlated databases that provides real estate data to facilitate a real estate transaction, wherein each database of the unified group is a discrete data module, the method comprising:

(a) associating real estate data entries of a first database of the unified group with corresponding real estate data entries of the remaining databases of the unified group;

(b) collecting the real estate data from real estate industry data sources;

(c) recording the real estate data in the first database of the unified group;

(d) determining an effect of the recorded real estate data on the remaining databases of the unified group;

(e) reconciling remaining real estate data in the remaining databases based on the effect; and

(f) distributing the recorded real estate data and the reconciled real estate data to real estate industry professionals and to real estate industry customers.

44. The method of claim 43, wherein the real estate data includes property information and tenant information, and the unified group of correlated databases comprises a property information database, and a tenant information database.

45. The method of claim 44, wherein the real estate data further includes comparable property information, assessment information, and market analytics information, and the unified group of correlated databases comprises a comparable property information database, an assessment information database, and a market analytics information database.

46. The method of claim 43, wherein the real estate industry data sources include at least one of property managers, proprietary databases, Internet sources, site inspections, building owners, brokerage firms, real estate investment trust filings, tenant canvassing, public records, and comparable property databases, and wherein the step of collecting the real estate data comprises:

(i) communicating with at least one of the property managers, the building owners, and the brokerage firms using a medium selected from the group consisting of mail, electronic mail, telephone, and facsimile, if the real estate industry data sources include at least one of the property managers, the building owners, and the brokerage firms;

(ii) searching and extracting data from at least one of the proprietary databases, the Internet sources, and the real estate investment trust filings, if the real estate industry data sources include at least one of the proprietary databases, the Internet sources, and the real estate investment trust filings;

(iii) recording observed data from at least one of the site inspections and the tenant canvassing, if the real estate industry data sources include at least one of the site inspections and the tenant canvassing; and

(iv) extracting data from at least one of the public records and the comparable property databases, if the real estate industry data sources include at least one of the public records and the comparable property databases.

47. The method of claim 43, wherein the step of collecting the real estate data comprises:

(i) receiving web-based input from the real estate industry professionals and the real estate industry customers; and

(ii) receiving communications from the real estate industry professionals and the real estate industry customers by a medium selected from the group consisting of mail, electronic mail, telephone, and facsimile.

48. The method of claim 47, wherein the step of collecting the real estate data further comprises:

(iii) gathering information with a mobile data acquisition vehicle.

49. The method of claim 43, wherein the step of reconciling the remaining real estate data comprises confirming that the real estate data entries and the corresponding real estate data entries that were associated in step (a) are internally consistent.

50. The method of claim 43, wherein the step of distributing comprises providing a web-based interface in communication with the unified group of correlated databases.

51. The method of claim 50, wherein the step of distributing further comprises providing communication between parties to a transaction, and providing transactional services in support of a transaction.

52. The method of claim 43, wherein the step of distributing comprises:

(i) accepting a property search query from a user; and

(ii) running the property search query in the unified group of correlated databases and returning property search results to the user.

53. The method of claim 52, wherein the step of distributing further comprises:

(iii) adding properties to the property search results as directed by the user without running another search query;

(iv) removing properties from the property search results as directed by the user without running another search query; and

(v) running negative search queries in the property search results as directed by the user to remove properties from the property search results.

54. The method of claim 52, wherein the step of distributing further comprises accepting a second property search query from the user, running the second property search query on the property search results, and returning a second set of property search results to the user.

55. The method of claim 52, wherein the property search results provide data from at least one of leasing history of a specific building, history of a market in a particular geographic area, and history of the specific building relative to the market.

56. The method of claim 52, further comprising:

(iii) saving the property search query as directed by the user;

(vi) running the saved property search query at a periodic interval; and

(vii) notifying the user of new properties that satisfy the property search query.

57. The method of claim 56, wherein the saved property search query has at least one field that relates to market conditions and at least one new property satisfies the property search query because of a change in the market conditions.

58. The method of claim 56, wherein steps (iii), (vi), and (vii) repeat for different users resulting in a plurality of saved searches, and wherein the method further comprises calculating an amount of saved searches of the plurality of saved searches that will be satisfied by entry of a new property listing, and reporting the amount to an owner or owner representative so that the owner or owner representative can maximize demand for the new property listing.

59. The method of claim 58, wherein the owner or owner representative maximizes demand for the new property listing by setting an optimum price.

60. The method of claim 58, wherein the owner or owner representative maximizes demand for the new property listing by setting an optimum building grade.

61. The method of claim 51, further comprising providing a derivatives marketplace in which to define, value, and exchange real estate commodities.

62. The method of claim 61, wherein the commodities are real estate cost futures.

63. The method of claim 43, wherein the step of distributing real estate data comprises disseminating location-sensitive information to a mobile information receiving device, wherein the mobile information receiving device determines its location and the unified group of correlated databases receives the location of the mobile information receiving device and transmits the location-sensitive information to the mobile information receiving device.

64. The method of claim 43, wherein the step of distributing real estate data comprises:

(i) displaying a user interface;

(ii) displaying a display element on the user interface to indicate a property for which information is recorded in the unified group of correlated databases;

(iii) providing a link to the information on the user interface proximate to the display element;

(iv) allowing a user to select the display element; and

(v) in response to the selection, retrieving and displaying the information.

65. The method of claim 64, wherein the user selects the display element by dragging a pointer proximate to the display element, and wherein the information is automatically displayed.

66. The method of claim 64, wherein the user interface is one of a chart and a map, and the display element is one of a text listing and an indicator.

67. The method of claim 64, wherein the information includes at least one of a photograph of the property, an address of the property, a building class size of the property, a building size of the property, a number of floors of the property, a year in which the property was built, a buyer of the property, a sale price of the property, a price per square foot of the property, and a cap rate of the property.

68. The method of claim 64, wherein allowing the user to select the indicator comprises providing one of a click-through button, a touch screen, and a voice activated response system.

69. A system for collecting, distributing, and using real estate data comprising:

(a) data sources that gather and generate the real estate data;

(b) data mining applications in communication with the data sources, wherein the data mining applications receive and organize the real estate data into separate interrelated modules, and wherein the data mining applications evaluate the real estate data and reconcile the real estate data among the interrelated modules;

(c) a contact management system in communication with the data sources and the data mining applications, wherein the contact management system directs data mining applications to conduct continuous pollings of the data sources to update the real estate data;

(d) a core data warehouse in communication with the data mining applications, wherein the core data warehouse receives and stores the reconciled and updated real estate data from the data mining applications;

(e) database processes in communication with the core data warehouse, wherein the database processes access the reconciled and updated real estate data from the core data warehouse and create database sets; and

(f) network integration applications in communication with the database processes, wherein the network integration applications manipulate the database sets in response to commands from a user and present results of the manipulation to the user.

70. The system of claim 69, wherein the network integration applications comprise at least one of a look up property application, a search database application, and an add listing application.

71. The system of claim 70, wherein the search database application accepts property search queries from the user, runs the property search queries, and returns property search results to the user.

72. The system of claim 71, wherein the search database application adds properties to the property search results as directed by the user without running another search query, removes properties from the property search results as directed by the user without running another search query, and runs negative search queries as directed by the user to remove properties from the property search results.

73. The system of claim 69, wherein the data sources include at least one of property managers, proprietary databases, Internet sources, site inspections, building owners, brokerage firms, real estate investment trust filings, tenant canvassing, public records, and comparable property databases.

74. The system of claim 69, wherein the data mining applications include at least one of a property information database, a tenant information database, an assessment information database, a comparable property information database, and a market analytics information database.

75. The system of claim 69, further comprising a mobile information collection device that provides functions of the data sources and the network integration applications, the mobile information collection device comprising:

(a) a global positioning system that determines a location of the mobile information collection device;

(b) an output device in communication with the database processes and the global positioning system, wherein the output device reads the location provided by the global positioning system, and retrieves and displays the database sets corresponding to the location; and

(c) a data input device that receives changes to the database sets corresponding to the location and transmits the changes to the data mining applications.

76. A method for securely facilitating buying and selling of real estate properties comprising the steps of:

(a) maintaining a unified group of interrelated databases accessible through a global information network;

(b) accepting a property listing from an owner or owner representative and recording the property listing in the unified group;

(c) providing confidentiality agreements to preapproved buyers or buyer representatives named by the owner or owner representative, wherein the confidentiality agreements require that the property listing remain confidential in return for viewing the property listing; and

(d) providing access to the property listing for buyers or buyer representatives that agree to the confidentiality agreement.

77. The method of claim 76, wherein, to access the property listing, the buyer or buyer representative is provided with an electronic identification key that generates a variable password at a predetermined frequency.

78. The method of claim 76, wherein step (b) further comprises determining if the owner or owner representative is fraudulent by posting the property listing for viewing by a true owner representative.

79. The method of claim 76, further comprising the steps of:

(e) indicating to an unapproved buyer or buyer representative that the property listing exists;

(f) accepting from the unapproved buyer or buyer representative a request to view the property listing;

(g) forwarding the request to the owner or owner representative for approval;

(h) if the owner or owner representative approves the request, requiring the unapproved buyer or buyer representative to agree to a confidentiality agreement requiring that the property listing remain confidential in return for viewing the property listing; and

(i) if the unapproved buyer or buyer representative agrees to the confidentiality agreement, providing access to the property listing for the unapproved buyer or buyer representative.

80. The method of claim 79, wherein the unapproved buyer or buyer representative subscribes to an access service that indicates the existence of property listings in the unified group of interrelated databases.

81. The method of claim 79, wherein the buyer or buyer representative agrees to the confidentiality agreement by clicking through an agreement posted on the Internet.

82. The method of claim 79, wherein forwarding the request further comprises forwarding a profile of the buyer or buyer representative to the owner or owner representative.

83. The method of claim 82, wherein forwarding the request further comprises authenticating the profile of the buyer or buyer representative.

84. The method of claim 79, wherein accepting a request to view the property listing further comprises obtaining a profile of the buyer or buyer representative, authenticating the profile, and transmitting the profile to the owner or owner representative.

85. The method of claim 79, wherein forwarding the request to the owner or owner representative comprises requesting a response from the information provider in real time through the Internet or through wireless data transmission.

86. A method for securely facilitating buying and selling of real estate properties comprising the steps of:

(a) maintaining a unified group of interrelated databases accessible through a global information network;

(b) accepting a property listing from an owner or owner representative and recording the property listing in the unified group;

(c) indicating to an unapproved buyer or buyer representative that the property listing exists;

(d) accepting from the unapproved buyer or buyer representative a request to view the property listing;

(e) forwarding the request to the owner or owner representative for approval;

(f) if the owner or owner representative approves the request, requiring the unapproved buyer or buyer representative to agree to a confidentiality agreement requiring that the property listing remain confidential in return for viewing the property listing; and

(g) if the unapproved buyer or buyer representative agrees to the confidentiality agreement, providing access to the property listing for the unapproved buyer or buyer representative.

87. The method of claim 86, wherein, to access the property listing, the unapproved buyer or buyer representative is provided with an electronic identification key that generates a variable password at a predetermined frequency.

88. The method of claim 86, wherein step (b) further comprises determining if the owner or owner representative is fraudulent by posting the property listing for viewing by a true owner representative.

89. The method of claim 86, wherein the unapproved buyer or buyer representative subscribes to an access service that indicates the existence of property listings in the unified group of interrelated databases.

90. The method of claim 86, wherein the unapproved buyer or buyer representative agrees to the confidentiality agreement by clicking through an agreement posted on the Internet.

91. The method of claim 86, wherein forwarding the request further comprises forwarding a profile of the unapproved buyer or buyer representative to the owner or owner representative.

92. The method of claim 91, wherein forwarding the request further comprises authenticating the profile of the unapproved buyer or buyer representative.

93. The method of claim 86, wherein forwarding the request to the owner or owner representative comprises requesting a response from the information provider in real time through the Internet or through wireless data transmission.

94. A method for underwriting loans for real estate property comprising the steps of:

(a) establishing a unified group of correlated databases that provides data to facilitate a real estate transaction, wherein each database is a discrete module of real estate data;

(b) providing quotes on individual loan programs in response to customer requests, wherein the quotes are based on property data in the unified group;

(c) providing soft loan quotes based on property data in the unified group; and

(d) providing pre-approved loan quotes to owners of particular properties based on real estate data for the particular properties and market information in the unified group.

95. The method of claim 94, wherein the step of providing pre-approved loan quotes comprises examining a financial profile of an owner, examining a property owned by the owner, evaluating the property to determine value and market analytics, and formulating a pre-approved credit line for the owner based on the property.

96. A method for listing and brokering real estate commodities and financial derivatives of the real estate commodities comprising the steps of:

(a) identifying characteristics of the real estate commodities;

(b) entering the characteristics into a data processing system using a real-time clock;

(c) establishing an exchange market for the real estate commodities based on a pre-selected set of the characteristics;

(d) setting a market price for the real estate commodities; and

(e) establishing classes of the financial derivatives.

97. The method of claim 96, wherein the characteristics are selected from the group consisting of geographic location, lease term start date range, lease term end date range, building class, volume, and cost.

98. The method of claim 96, wherein the step of entering the characteristics into a data processing system comprises the steps of:

(i) determining whether or not a commodity is being identified to the data processing system for a first time;

(ii) storing the characteristics in a commodity database if the commodity is being identified to the data processing system for the first time; and

(iii) determining a status of the commodity with respect to being a candidate for purchase, sale, or trade, if the commodity is not being identified to the data processing system for the first time.

99. The method of claim 96, wherein the classes of financial derivatives are selected from the group consisting of all commercial real estate available during a particular time period in a particular region, all commercial real estate of a certain class, all commercial real estate of a certain cost, a lease space equivalent use, and combinations thereof.

100. The method of claim 99, wherein the lease space equivalent use comprises a common descriptive link between varied commodity types, a time period that runs from a date of a contract to a performance date of the commodity, and a contract price.

101. A system for listing and brokering real estate commodities and financial derivatives of the real estate commodities comprising:

(a) a data processing means for accepting and storing parameters of an available commodity available for sale or exchange;

(b) data processing means for entering a description of a desired commodity desired for purchase or exchange;

(c) means for determining that a match exists between the available commodity and the desired commodity;

(d) means for displaying the match to a system operator;

(e) means for selecting the match for purchase, exchange, or purchase and exchange;

(f) means for determining a class of financial derivatives based on a pre-determined set of characteristics resident in commodity descriptions stored in a database; and

(g) means for selecting a class of derivatives for purchase, exchange, or purchase and exchange.

102. The system of claim 101, wherein the data processing means comprises a system controller comprising:

(i) a data processing system;

(ii) a data management program;

(iii) data entry means for entering data into the data processing system;

(iv) memory means for storing memory; and

(v) communication means for communicating data between the system controller and a plurality of input and output points.

103. The system of claim 102, wherein the plurality of input and output points comprise:

(i) one or more commodity input points;

(ii) one or more commodity receiver points;

(iii) one or more commodity brokerage points; and

(iv) one or more derivative exchange points.

104. A method for shopping for real estate and completing real estate transactions comprising the steps of:

(a) providing a mobile information transmitting and receiving device that is in communication with a database containing real estate data;

(b) determining a location of the mobile information transmitting and receiving device using a global positioning system;

(c) downloading from the database to the mobile information transmitting and receiving device real estate data corresponding to the location; and

(d) displaying on the mobile information transmitting and receiving device summary information corresponding to a property listed in the real estate data to which the mobile information transmitting and receiving device is nearest.

105. The method of claim 104, further comprising the steps of:

(e) providing communication between a buyer or buyer representative and a seller or seller representative of the property for approval by the seller or seller representative for the prospective buyer to view details of the property;

(f) displaying details on the mobile information transmitting and receiving device, if approved by the seller or seller representative; and

(g) communicating an offer from the buyer or buyer representative to the seller or seller representative using the mobile information transmitting and receiving device.

106. The method of claim 105, further comprising the step of completing an electronic agreement to transfer title of the property if the offer is accepted by the seller or seller representative.

107. A system for use in information exchange between a system operator, a plurality of information providers, and a plurality of information customers, to allow the information providers to both distribute specified information through the Internet and control dissemination of information, the system comprising:

(a) means for making the information provider'"'"'s specified information available through a secure website on the Internet;

(b) means for obtaining from the information provider a designation of a first subset of the information customers that are authorized to receive access to the specified information on the website; and

(c) means for distributing to each one of the first subset of the information customers that are authorized to receive access to the specified information an ID that can be used to access the specified information.

108. The system according to claim 107, further comprising:

(d) means for providing a description of the specified information in a searchable database containing a plurality of descriptions of information;

(e) means for allowing a second subset of customers to query the searchable database and retrieve information sufficient to show the existence of information responsive to the query without revealing all of the information;

(f) means for allowing one or more of the second subset of customers that are interested in obtaining access to the complete information to communicate their interest in access to the information responsive to the query;

(g) means for forwarding the request for access and information concerning the interested customer requesting access to the information provider in response to a request for access; and

(h) means for allowing the information provider to make a decision to grant or deny the request for access to the information responsive to the query, whereupon in response to a deny access decision, the interested customer is notified of the deny decision without learning the identity of the information provider, and whereupon in response to a grant access decision, the interested customer receives access to the specified information.

109. The system according to claim 108, wherein the means for allowing one or more of the second subset of customers that are interested in obtaining access to the complete information to communicate their interest in access to the information responsive to the query, includes:

means for allowing the interested customer to send a request for access directed to the system operator;

means for allowing the system operator to forward the request for access and information concerning the interested customer requesting access to the information provider in response to a request for access; and

means for allowing the information provider to make a decision to grant or deny the request for access and to communicate the decision to the system operator,

whereupon in response to a deny access decision, the interested customer is notified of the deny decision without learning the identity of the information provider, and

whereupon in response to a grant access decision, the system operator grants the interested customer access to the specified information responsive to the query.

110. The system according to claim 107, wherein the system is used to facilitate the exchange of information pertaining to commercial real estate available for sale, the information providers are owners or owner representatives that provide information concerning the availability of properties for sale, and the information customers are buyers or buyer representatives.

111. The system according to claim 108, further comprising means for obtaining a non-disclosure agreement from the interested potential customer as a condition of receiving access to the specified information.

112. The system according to claim 111, wherein the means for obtaining a non-disclosure agreement from the interested potential customer as a condition of receiving access to the specified information includes means for obtaining an electronic signature.

113. The system according to claim 109, further comprising data records containing a profile of each of the second subset of customers and means for transmitting the profile information to information providers in response to a request for access.

114. The system according to claim 109, wherein the system includes means for forwarding a request for access and information concerning the customer requesting access to the information provider in response to a request for access, and requesting a response from the information provider in real time through the Internet or through wireless data transmission.

115. A system for use in information exchange between a system operator, a plurality of information providers, and a plurality of information customers, to allow the information providers to both distribute specified information through the Internet and control dissemination of information, the system comprising:

(a) means for making the information provider'"'"'s specified information available through a secure website on the Internet;

(b) means for providing a description of the specified information in a searchable database containing a plurality of descriptions of information;

(c) means for allowing a customers to query the searchable database and retrieve information sufficient to show the existence of information responsive to the query without revealing all of the information;

(d) means for allowing one or more of the customers that are interested in obtaining access to the complete information to communicate their interest in access to the information responsive to the query;

(e) means for forwarding the request for access and information concerning the interested customer requesting access to the information provider in response to a request for access; and

(f) means for allowing the information provider to make a decision to grant or deny the request for access to the information responsive to the query, whereupon in response to a deny access decision, the interested customer is notified of the deny decision without learning the identity of the information provider, and whereupon in response to a grant access decision, the interested customer receives access to the specified information.

116. The system according to claim 115, wherein the means for allowing one or more of the customers that are interested in obtaining access to the complete information to communicate their interest in access to the information responsive to the query, includes:

means for allowing the interested customer to send a request for access directed to the system operator;

means for allowing the system operator to forward the request for access and information concerning the interested customer requesting access to the information provider in response to a request for access; and

means for allowing the information provider to make a decision to grant or deny the request for access and to communicate the decision to the system operator,

whereupon in response to a deny access decision, the interested customer is notified of the deny decision without learning the identity of the information provider, and

whereupon in response to a grant access decision, the system operator grants the interested customer access to the specified information responsive to the query.

117. The system according to claim 115, wherein the system is used to facilitate the exchange of information pertaining to commercial real estate available for sale, the information providers are owners or owner representatives that provide information concerning the availability of properties for sale, and the information customers are buyers or buyer representatives.

118. The system according to claim 115, further comprising means for obtaining a non-disclosure agreement from the interested potential customer as a condition of receiving access to the specified information.

119. The system according to claim 118, wherein the means for obtaining a non-disclosure agreement from the interested potential customer as a condition of receiving access to the specified information includes means for obtaining an electronic signature.

120. The system according to claim 115, further comprising data records containing a profile of each customer and means for transmitting the profile information to information providers in response to a request for access.

121. The system according to claim 115, wherein the system includes means for forwarding a request for access and information concerning the customer requesting access to the information provider in response to a request for access, and requesting a response from the information provider in real time through the Internet or through wireless data transmission.

122. A system for correlating information stored in a remote database with a user'"'"'s location, retrieving pertinent data files from the database based upon the user'"'"'s location, and transmitting the selected data files to the user, the system comprising:

user equipment sets, each user equipment set including means for inputting or determining a user'"'"'s geographic location and for transmitting information pertaining to the user'"'"'s location to a remote computer;

a computer, the computer equipped for communication with geographically remote users that are equipped with the equipment sets so as to send data to the equipment sets and receive data from the equipment sets including data pertaining to a user'"'"'s location; and

a database in communication with the computer, the database storing information that includes information identifying the location of a property,

whereby, in response to receipt of data pertaining to a user'"'"'s location, the computer retrieves information pertaining to the user'"'"'s location and transmits the same to the user'"'"'s equipment set for display on the display.

123. The system for correlating information stored in a remote database with a user'"'"'s location, retrieving pertinent data files from the database based upon the user'"'"'s location and automatically transmitting the selected data files to the user according to claim 122, wherein the information pertaining to the user'"'"'s location includes information concerning comparable properties.

124. The system for correlating information stored in a remote database with a user'"'"'s location, retrieving pertinent data files from the database based upon the user'"'"'s location and automatically transmitting the selected data files to the user according to claim 122, wherein the information pertaining to the user'"'"'s location includes information concerning three dimensional video description of properties.

125. The system for correlating information stored in a remote database with a user'"'"'s location, retrieving pertinent data files from the database based upon the user'"'"'s location and automatically transmitting the selected data files to the user according to claim 122, wherein the information pertaining to the user'"'"'s location includes information concerning historical performance of commercial properties.

126. The system for correlating information stored in a remote database with a user'"'"'s location, retrieving pertinent data files from the database based upon the user'"'"'s location and automatically transmitting the selected data files to the user according to claim 122, wherein the information pertaining to the user'"'"'s location includes information concerning comparable lease data for commercial properties.

127. The system for correlating information stored in a remote database with a user'"'"'s location, retrieving pertinent data files from the database based upon the user'"'"'s location, and automatically transmitting the selected data files to the user according to claim 122, wherein the information stored in the database includes information pertaining to commercial real estate located proximate to the user'"'"'s location, the information including at least one of data and images describing the commercial real estate, whereby in response to receipt of data pertaining to a user'"'"'s location, the computer retrieves information describing the commercial real estate near the user'"'"'s current location and transmits the same to the user'"'"'s equipment set for display on the display.

128. The system for correlating information stored in a remote database with a user'"'"'s location, retrieving pertinent data files from the database based upon the user'"'"'s location, and automatically transmitting the selected data files to the user according to claim 122, wherein the information stored in the database includes information pertaining to residential real estate located proximate to the user'"'"'s location, the information including at least one of data and images describing the residential real estate, whereby in response to receipt of data pertaining to a user'"'"'s location, the computer retrieves information describing the residential real estate near the user'"'"'s current location and transmits the same to the user'"'"'s equipment set for display on the display.

129. The system for correlating information stored in a remote database with a user'"'"'s location and retrieving pertinent data files from the database based upon the user'"'"'s location and automatically transmitting the selected data files to the user according to claim 122, whereby in response to receipt of data pertaining to a user'"'"'s location, the computer retrieves geographically pertinent information and transmits the same to the user'"'"'s equipment set for display on the display.

130. The system for correlating information stored in a remote database with a user'"'"'s location and retrieving pertinent data files from the database based upon the user'"'"'s location and automatically transmitting the selected data files to the user according to claim 122, wherein the display comprises:

(i) a map of a geographic area;

(ii) an indicator on the map to indicate a property for which information is recorded in the database; and

(iii) a pop-up window linked to the indicator, wherein the pop-up window appears when the user'"'"'s location is proximate to the property for which information is recorded in the database, and wherein the pop-up window displays the information recorded in the database.

131. The method of claim 130, wherein the information includes at least one of a photograph of the property, an address of the property, a building class size of the property, a building size of the property, a number of floors of the property, a year in which the property was built, a buyer of the property, a sale price of the property, a price per square foot of the property, and a cap rate of the property.

132. A system for storing and automatically displaying descriptions and visual images of real estate on a user'"'"'s display, comprising:

means for generating a plurality of digitized video images of selected real estate, each digitized video image depicting a view of a specified area of a real estate property;

means for storing data records concerning the real estate including the digitized video images, textual information concerning the real estate, and information identifying the geographic location of the real estate in a computer database;

means for determining a user'"'"'s geographic location;

means for retrieving data records corresponding to the user'"'"'s geographic location; and

means for displaying on a single display the digitized video images and textual information.

133. The system of claim 132, further comprising means for generating and displaying three dimensional video depictions.

134. The system of claim 132, wherein the single display comprises:

(i) a map of a geographic area;

(ii) an indicator on the map to indicate a location of a property for which a data record exists;

(iii) a link to the data record on the map proximate to the indicator; and

(iv) a pop-up window proximate to the indicator, wherein the pop-up window appears when the link is activated, and wherein the pop-up window includes at least a portion of the data record.

135. The system of claim 134, wherein the link is activated by one of dragging a pointer over the indicator, touching a touch screen at the indicator, and voicing a command to a voice activated response system.

136. A system for facilitating commercial real estate information loan transactions comprising:

at least one searchable database containing data records that;

identify a plurality of commercial real estate properties,

associate at least one lender with each of the commercial real estate properties,

associate a loan commitment with each of the commercial real estate properties,

provide information sufficient to evaluate the investment value of the property, and

provide a list of qualified buyers or information sufficient to evaluate the credit worthiness of prospective buyers;

a search engine for allowing potential customers to query the searchable database;

communication equipment for allowing potential customers that are interested in purchasing a commercial real estate property to communicate their interest and lock in the loan commitment associated with that commercial real estate property subject to qualification of the potential customer as a qualified buyer; and

a computer for determining whether the potential customer is a qualified buyer and prompting the potential customer to provide further information, if required.

137. The system for facilitating commercial real estate information loan transactions of claim 136, wherein the data records that identify commercial real estate properties include information pertaining to

square footage data representing a square footage of the commercial real estate;

data characterizing the selected use of the commercial real estate;

cost data;

data about the tenant in the commercial real estate;

a real estate submarket identification;

a classification of the commercial real estate based upon at least one of the following;

a building grade, an age of the building, and an extrapolation of comparable buildings;

information pertaining to the submarket including at least one of rent data, vacancy data and absorption rate data; and

building-specific information,

wherein the system further comprises computers and communication equipment for allowing a plurality of users to query the database, add data to the database, and retrieve information from the database.

138. A method for facilitating commercial real estate information loan transactions comprising the steps of:

providing at least one searchable database that contain data records that;

identify a plurality of commercial real estate properties,

associate at least one lender with each of the commercial real estate properties,

associate a loan commitment with each of the commercial real estate properties,

provide information sufficient to evaluate the investment value of the property, and

provide a list of qualified buyers or information sufficient to evaluate the credit worthiness of prospective buyers;

allowing potential customers to query the searchable database to identify commercial real estate properties of interest and, in response to such queries, presenting the potential customers with information sufficient to evaluate the investment value of each property and the loan commitment associated with that commercial real estate property; and

allowing potential customers that are interested in purchasing a commercial real estate property to communicate their interest and lock in the loan commitment associated with that commercial real estate property subject to qualification of the potential customer as a qualified buyer; and

determining whether the potential customer is a qualified buyer and prompting the potential customer to provide further information, if required.

139. A system for facilitating commercial real estate information loan transactions comprising:

at least one searchable database containing data records that;

identify a plurality of qualified buyers of commercial real estate together with information sufficient to evaluate the credit worthiness of each of the qualified buyers listed; and

associate either a category of interest or past purchase information indicative of a category of interest with each qualified buyer;

a search engine for allowing potential sellers of commercial real estate to query the searchable database; and

communication equipment for allowing potential sellers of commercial real estate property to communicate information concerning their property to qualified buyers.

140. The system for facilitating commercial real estate information loan transactions of claim 139, further comprising data records that contain information concerning commercial real estate properties include information pertaining to

square footage data representing a square footage of the commercial real estate;

data characterizing the selected use of the commercial real estate;

cost data including a rental price of the commercial real estate;

data about the tenant in the commercial real estate;

a real estate submarket identification;

a classification of the commercial real estate based upon at least one of the following;

a building grade, an age of the building, and an extrapolation of comparable buildings;

information pertaining to the submarket including rent data, vacancy data and absorption rate data; and

building-specific information; and

a computer for allowing qualified buyers to access the information concerning commercial real estate properties for which they receive information from potential sellers.

141. A method for facilitating commercial real estate information loan transactions comprising:

providing at least one searchable database containing data records that;

identify a plurality of qualified buyers of commercial real estate together with information sufficient to evaluate the credit worthiness of each of the qualified buyers listed; and

associate either a category of interest or past purchase information indicative of a category of interest with each qualified buyer;

providing a search engine for allowing potential sellers of commercial real estate to query the searchable database; and

allowing potential sellers of commercial real estate property to communicate information concerning their property to qualified buyers, the information including market information and building-specific information.

142. A method for providing information concerning real estate property comprising the steps of:

(a) displaying a user interface;

(b) displaying a display element on the user interface to indicate a real estate property;

(c) linking the display element to a data entry for the real estate property;

(d) allowing a user to select the display element; and

(e) in response to selection of the display element, retrieving and displaying information from the data entry.

143. The method of claim 142, wherein the user selects the display element by dragging a pointer proximate to the display element, and wherein the information from the data entry is automatically retrieved and displayed.

144. The method of claim 143, wherein the information from the data entry is displayed in a pop-up window.

145. The method of claim 144, further comprising allowing the user to click on the pop-up window to receive more information from the data entry.

146. The method of claim 142, wherein the user selects the display element by one of clicking through the indicator, using a touch screen, and using a voice activated response system.

147. The method of claim 142, wherein the information includes one or more of an image of the real estate property, audio content relating to the real estate property, video of the real estate property, and textual information on the real estate property.

148. The method of claim 147, wherein the textual information includes one of an address of the real estate property, a building class size of the real estate property, a building size of the real estate property, a number of floors of the real estate property, a year in which the real estate property was built, a buyer of the real estate property, a sale price of the real estate property, a lease price of the real estate property, a price per square foot of the real estate property, and a cap rate of the real estate property.

149. The method of claim 142, wherein the user interface is a chart and the display element is a textual listing of the real estate property.

150. The method of claim 142, wherein the user interface is a map and the display element is an icon.

151. The method of claim 150, wherein the icon signifies a characteristic of the real estate property.

152. The method of claim 151, wherein the icon signifies that the real estate property is one of an office space, an industrial space, and a retail space.

153. The method of claim 151, wherein the icon signifies that the real estate property is one of a condominium, a townhouse, and a single family home.

154. The method of claim 151, wherein the icon signifies the price range of the real estate property.

155. The method of claim 151, wherein the icon signifies the price of the real estate property.

156. In a system comprising a plurality of user computers having displays in communication with a searchable database, a method of displaying data retrieved from the searchable database on a user display of a user computer, the method comprising the steps of:

displaying a first portion of the data retrieved from the searchable database on the user display;

storing a second portion of the data retrieved from the searchable database on the user computer;

in response to a user input selecting the first portion of the data displayed, identifying a subset of the second portion of data that is relevant to the selected first portion of the data displayed; and

displaying on the user display the subset of the second portion of data that is relevant to the selected first portion of the data displayed, wherein the subset of the second portion displayed is less than the entire second portion of data.

157. The method of claim 156, wherein the first portion of the data retrieved from the searchable database is displayed in one of a text format and a map format.

158. The method of claim 157, wherein the text format is one of a grid, a spreadsheet, and a chart.

159. The method of claim 156, wherein the user input comprises passing a pointing device icon over one of a portion of text and an icon.

160. The method of claim 156, wherein the data retrieved includes at least digital images, price information, and address information,

wherein the first portion of data retrieved includes the price information and the address information, and

wherein the subset of the second portion of data includes the digital images.

161. The method of claim 156, wherein displaying a first portion of the data retrieved comprises using icons to provide information about the first portion of the data retrieved.

162. The method of claim 161, wherein the icons provide geographic location information by their placement on a map of the user display.

163. The method of claim 162, wherein the icons have appearances that convey one of a property type, a cost of a property, and an identity of a broker listing a property.

164. The method of claim 163, wherein the icons are digital images of real estate property.

165. The method of claim 156, wherein the data retrieved comprises only properties listed by a particular broker and the user display is a part of a web site of the particular broker.