Interactive computer system to match buyers and sellers of real estate, businesses and other property using the internet

• US 5,664,115 A
• Filed: 06/07/1995
• Issued: 09/02/1997
• Est. Priority Date: 06/07/1995
• Status: Expired due to Fees

• Current Assignee: Intel Corporation
• Original Assignee: Fraser, Richard
• Inventors: Fraser, Richard
• Primary Examiner(s): McElheny, Jr., Donald E.
• Application Number:
  US08/477,641
• Time in Patent Office: 818 Days
• Field of Search: 364/401 R, 364/403, 364/408, 395/226, 395/227, 395/237, 395/228
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A method and apparatus of automatically matching sellers of property with potential buyers through a communications network (preferably the Internet) in which a host system communicates with the sellers and the potential buyers over telephone or dedicated data transmission lines. The host system obtains and stores a first set of records each corresponding to a property to be sold. The first set of records can then be search by a remote data terminal associated with a potential buyer. The results of this search are then provided to the potential buyer, who indicates specific property listings that the potential buyer may be interested in purchasing. The potential buyer provides identifying information which is then provided to the sellers of the indicated property. Provisions are made to ensure that the sellers who list property support the system. Further, the system permits automatic evaluation of potential buyers to screen buyers whose information does not match minimum criteria provided by the seller.

Claims

1. A system for selectively displaying property listings to potential buyers and for obtaining buyer profile information associated with said potential buyers which is provided to sellers of property described in said property listings, comprising:

a host system;

a plurality of remote data terminals;

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

data storage means within said host system, said data storage means maintaining a plurality of data records of different types, including;

property records, buyer records, and seller records;

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

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

wherein said processing means selectively retrieves said property records in accordance with sorting criteria provided by one of said plurality of remote terminals, and provides information contained in said property records to said remote terminals;

wherein upon request by a user of one of said plurality of remote terminals, said processing means obtains buyer profile information corresponding to the user, the buyer profile information including buyer qualification information;

wherein the processing means compares said buyer qualification information with a threshold values stored within a retrieved property record, and, when the buyer qualification information exceeds the threshold value determined by the information stored within the property record said processing means creates a buyer record based on said buyer profile information that indicates which of said property records were requested by the user who provides said buyer profile information, said host system selectively providing said buyer record to each seller of the property listed in said property records using information stored in said seller records;

wherein said seller records includes seller identification information and seller account status information, the seller account status information determining whether said second data records are accessible to a seller.

2. The system according to claim 1 wherein said information contained in said seller records is unavailable to potential buyers through said system.

3. The system according to claim 1 wherein said host system provides said buyer record to each seller of the property listed in said first data record through data transmission with said communications means.

4. The system according to claim 1 wherein said host system and said plurality of remote data terminals exchange data through the Internet.

5. A method of automatically matching sellers of property with potential buyers through a communications network, comprising:

obtaining a set of property records each corresponding to a property to be sold;

storing said property records on a data storage means associated with a host system, said host system comprising a processor with associated memory and at least one input/output device;

establishing data communication with said input/output device over telephone or data transmission lines provided between said host system and a plurality of remote data terminals each associated with a potential buyer;

searching said property records based on selection criteria provided by a potential buyer;

providing results of said step of searching to said potential buyer through a corresponding data terminal;

obtaining buyer information from said corresponding data terminal which describes said buyer, said buyer information including buyer qualification information;

comparing said buyer qualification information with a threshold value stored within a retrieved property record;

when the buyer qualification information exceeds the threshold value, creating a buyer record that includes said buyer information and properties selected by said buyer;

selectively providing said buyer record to sellers of properties selected by said buyer, wherein the buyer records are provided to sellers on the basis of seller account status information stored in seller records associated with each seller.

6. A method according to claim 5, wherein information contained in said seller records is unavailable to said potential buyers through said host system.

7. A method according to claim 5 wherein said host system provides said buyer profile information to each seller of the property listed in said property records through data transmission with said input/output device.

8. A method according to claim 5 wherein said host system and said plurality of remote data terminals exchange data through the Internet.