Interactive real estate contract and negotiation tool

• US 20100100522A1
• Filed: 10/16/2009
• Published: 04/22/2010
• Est. Priority Date: 10/17/2008
• Status: Active Grant

• Current Assignee: MFTB Holdco Incorporated
• Original Assignee: DotLoop LLC (Zillow Group, Inc.)
• Inventors: Allison, Gregory Austin, Vorst, Matthew Allan
• Granted Patent: US 9,330,375 B2
• Time in Patent Office: Days
• US Class Current: 707/600
• CPC Class Codes: G06F 3/023 Arrangements for converting discrete items of information into a coded form, e.g. arrangements for interpreting keyboard generated codes as alphanumeric codes, operand codes or instruction codes
• CPC Class Codes: G06F 3/038 Control and interface arrangements therefor, e.g. drivers or device-embedded control circuitry
• CPC Class Codes: G06F 3/0481 based on specific properties of the displayed interaction object or a metaphor-based environment, e.g. interaction with desktop elements like windows or icons, or assisted by a cursor's changing behaviour or appearance
• CPC Class Codes: G06F 40/166 Editing, e.g. inserting or deleting
• CPC Class Codes: G06F 9/451 Execution arrangements for user interfaces
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 50/16 Real estate
• CPC Class Codes: G06Q 50/167 Closing
• CPC Class Codes: G06Q 50/188 Electronic negotiation

Abstract

Term negotiation can utilize centralized systems accessed via web interfaces for purposes such as mediation of communications between buyers and sellers, maintenance of a history of negotiations, and notification of parties regarding changes suggested during negotiation. Changes to terms proposed by parties using centralized systems can be stored in a data warehouse, potentially along with timestamp and identification information.

Claims

1. A computer readable medium storing data operable to configure a computer to perform a set of tasks comprising:

a) receive, from a first user, a first request to view a document;

b) based on receiving the first request, retrieve a first record comprising a set of data elements from a data warehouse, and display a first representation of the document, the first representation of the document comprising;

i) a form portion comprising a plurality of fields;

ii) the set of data elements, wherein each data element from the set of data elements is displayed in a field from the plurality of fields;

c) receive a first user specified data element from the first user;

d) based on receiving the first user specified data element, perform a first set of acts comprising;

i) create a first user new record in the data warehouse, the first user new record comprising the first user specified data element;

ii) restrict the first user from adding information to document;

iii) authorize a second user to add information to the document; and

iv) send a first notification to the second user;

e) receive, from the second user, a second request to view the document;

f) based on receiving the second request, retrieve the first user new record from the data warehouse, and display a second representation of the document, the second representation of the document comprising;

i) the form portion;

ii) a second set of data elements, the second set of data elements comprising the first user specified data element, wherein each data element from the second set of data elements is displayed in a field from the plurality of fields;

g) receive a second user specified data element from the second user;

h) based on receiving the second user specified data element, perform a second set of acts comprising;

i) create a second user new record in the data warehouse, the second user new record comprising the second user specified data element;

ii) restrict the second user from adding information to the document;

iii) authorize the first user to add information to the document; and

iv) send a second notification to the first user.

2. The computer readable medium of claim 1, wherein:

a) the set of tasks comprises allowing an accepting user to create a final document by indicating acceptance of a final representation of the document;

b) the final representation of the document comprises a data element specified by a proposing user;

c) the accepting user is one of the users taken from the list consisting of;

i) the first user; and

ii) the second user;

d) the proposing user is one of the users taken from the list consisting of;

i) the first user; and

ii) the second user;

e) the accepting user and the proposing user are not the same user; and

f) at the time the accepting user indicates acceptance of the final representation of the document, the accepting user is authorized to add information to the document.

3. The computer readable medium of claim 2, wherein the final document is a real estate transaction contract.

4. The computer readable medium of claim 1, wherein the set of tasks comprises, based on a request for a document history:

a) retrieving, from the data warehouse, a set of records, the set of records comprising each record which comprises an element selected from the list consisting of;

i) information entered by the first user after requesting to view the document; and

ii) information entered by the second user after requesting to view the document;

b) presenting the document history, the document history comprising;

i) each data element from each record in the set of records;

ii) markup showing differences in corresponding data elements between records; and

iii) an indication of whether each data element was provided by the first user or the second user.

5. The computer readable medium of claim 1, wherein the set of tasks comprises:

a) receiving a withdrawal request from a withdrawing user, the withdrawing user being a user selected from the list consisting of the first user and the second user, the withdrawing user being restricted from adding information to the document at the time of the withdrawal request;

b) based on receiving the withdrawal request;

i) restrict the non-withdrawing user from adding information to the document; and

ii) authorize the withdrawing user to add information to the document;

the non-withdrawing user being a user selected from the list consisting of the first user and the second user; and

the non-withdrawing user not being the same user as the withdrawing user.

6. A method comprising a set of steps performed by a central server, the set of steps comprising:

a) receive, from a first user, a first request to view a document;

b) based on receiving the first request, retrieve a first record comprising a set of data elements from a data warehouse, and display a first representation of the document, the first representation of the document comprising;

i) a form portion comprising a plurality of fields;

ii) the set of data elements, wherein each data element from the set of data elements is displayed in a field from the plurality of fields;

c) receive a first user specified data element and a first user authentication from the first user;

d) based on receiving the first user specified data element, perform a first set of acts comprising;

i) create a first user new record in the data warehouse, the first user new record comprising;

a first timestamp;

an indication of the first user;

the first user specified data element;

ii) restrict the first user from adding information to document;

iii) authorize a second user to add information to the document; and

iv) send a first notification to the second user;

e) receive, from the second user, a second request to view the document;

f) based on receiving the second request, retrieve the first user new record from the data warehouse, and display a second representation of the document, the second representation of the document comprising;

i) the form portion;

ii) a second set of data elements, the second set of data elements comprising the user specified data element, wherein each data element from the second set of data elements is displayed in a field from the plurality of fields;

g) receive a second user specified data element and a second user authentication from the second user;

h) based on receiving the second user specified data element, perform a second set of acts comprising;

i) create a second user new record in the data warehouse, the second user new record comprising;

a second timestamp;

an indication of the second user;

the second user specified data element;

ii) restrict the second user from adding information to the document;

iii) authorize the first user to add information to the document; and

iv) send a second notification to the first user.

7. The method of claim 6, wherein:

a) the set of steps comprises allowing an accepting user to create a final document by indicating acceptance of a final representation of the document;

b) the final representation of the document comprises a data element specified by a proposing user;

c) the accepting user is one of the users taken from the list consisting of;

i) the first user; and

ii) the second user;

d) the proposing user is one of the users taken from the list consisting of;

i) the first user; and

ii) the second user;

e) the accepting user and the proposing user are not the same user; and

f) at the time the accepting user indicates acceptance of the final representation of the document, the accepting user is authorized to add information to the document.

8. The method of claim 7, wherein the final document is a real estate transaction contract.

9. The method of claim 6, wherein the set of steps comprises, based on a request for a document history:

a) retrieving, from the data warehouse, a set of records, the set of records comprising each record which comprises an element selected from the list consisting of;

i) information entered by the first user after requesting to view the document; and

ii) information entered by the second user after requesting to view the document;

b) presenting the document history, the document history comprising;

i) each data element from each record in the set of records;

ii) markup showing differences in corresponding data elements between records; and

iii) an indication of whether each data element was provided by the first user or the second user.

10. The method of claim 6, wherein the set of steps comprises:

a) receiving a withdrawal request from a withdrawing user, the withdrawing user being a user selected from the list consisting of the first user and the second user, the withdrawing user being restricted from adding information to the document at the time of the withdrawal request;

b) based on receiving the withdrawal request;

i) restrict the non-withdrawing user from adding information to the document; and

ii) authorize the non-withdrawing user to add information to the document;

the non-withdrawing user being a user selected from the list consisting of the first user and the second user; and

the non-withdrawing user not being the same user as the withdrawing user.

11. A computer readable medium storing data operable to configure a computer to perform a set of tasks comprising:

a) receive a set of real property information;

b) store said set of real property information in a data warehouse;

c) compare said set of real property information against a set of pre-existing information from the data warehouse; and

d) automatically generate an output based on the comparison.

12. The computer readable medium of claim 11, wherein the output comprises an element selected from the list consisting of:

a) an indication of whether a set of terms proposed during a negotiation is acceptable; and

b) a report benchmarking a set of properties reflected in the set of real property information.