System and method for facilitating property comparisons
First Claim
1. A processor implemented method for evaluating real estate properties with respect to each other comprising the steps of:
- a. receiving, via a terminal connected to the processor, first input that identifies two or more properties which are for sale;
b. receiving numerical values of two or more parameters for each of said two or more properties;
c. receiving a numerical weighting factor for each of said two or more parameters;
d. calculating by the processor, from received numerical values, an average numerical value of each of said two or more parameters; and
e. calculating by the processor, for each of said two or more properties a score comprising;
two or more terms each related to a different of said two or more parameters; and
a summation of said two or more terms;
wherein, for the score for a first of said two or more properties;
each term is proportional to the numerical weighting factor for the parameter to which the term relates;
at least one term is proportional to the numerical value of one of said two or more parameters for the first of said two or more properties; and
said at least one term is inversely proportional to the average numerical value of said one of said two or more parameters.
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Abstract
A system and method allowing a user to quickly receive a ranked comparison of homes for sale based on default criteria or criteria of the user'"'"'s choice. An interactive website is provided into which a home buyer can enter details of several properties under consideration for purchase and receive a ranked comparison list in order of best value for money. Homebuyers may change the weightings of the criteria according to their preferences. An alternate home price is calculated for the homes ranked below first such that they have the same perceived value per dollar as the top ranked home. Finally, there is an option for the homebuyer to share results with the online community.
42 Citations
20 Claims
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1. A processor implemented method for evaluating real estate properties with respect to each other comprising the steps of:
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a. receiving, via a terminal connected to the processor, first input that identifies two or more properties which are for sale; b. receiving numerical values of two or more parameters for each of said two or more properties; c. receiving a numerical weighting factor for each of said two or more parameters; d. calculating by the processor, from received numerical values, an average numerical value of each of said two or more parameters; and e. calculating by the processor, for each of said two or more properties a score comprising; two or more terms each related to a different of said two or more parameters; and a summation of said two or more terms; wherein, for the score for a first of said two or more properties; each term is proportional to the numerical weighting factor for the parameter to which the term relates; at least one term is proportional to the numerical value of one of said two or more parameters for the first of said two or more properties; and said at least one term is inversely proportional to the average numerical value of said one of said two or more parameters. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A system for evaluating real estate properties for sale with respect to each other comprising:
a processor and a terminal connected to the processor, the processor configured to; a. receive, via the terminal, first input that identifies two or more properties which are for sale; b. receive numerical values of two or more parameters for each of said two or more properties; c. receive a numerical weighting factor for each of said two or more parameters; d. calculate, from received numerical values, an average numerical value of each of said two or more parameters; and e. calculate for each of said two or more properties a score comprising; two or more terms each related to a different of said two or more parameters; and a summation of said two or more terms; wherein, for the score for a first of said two or more properties; each term is proportional to the numerical weighting factor for the parameter to which the term relates; at least one term is proportional to the numerical value of one of said two or more parameters for the first of said two or more properties; and said at least one term is inversely proportional to the average numerical value of said one of said two or more parameters. - View Dependent Claims (9, 10, 11, 12, 13, 14, 15, 16, 17, 18)
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19. A system for evaluating real estate properties for sale with respect to each other comprising:
a processor and a terminal connected to said processor, the processor configured to; a. receive, via the terminal, first input that identifies two or more properties which are for sale; b. receive numerical values of one or more parameters for each of said two or more properties; c. calculate, from received numerical values, an average numerical value of each of said one or more parameters; d. calculate for each of said two or more properties a score comprising; one or more terms each related to a different of said one or more parameters; and a summation of said one or more terms; wherein, for the score for a first of said two or more properties; at least one term is proportional to the numerical value of one of said one or more parameters for the first of said two or more properties; and said at least one term is inversely proportional to the average numerical value of said one of said one or more parameters; e. normalize the scores such that one of the scores or an average of the scores is equal to a predetermined value; f. accept, via the terminal, second input representing a user'"'"'s permission to display a representation of the normalized scores on a further terminal used by a further user; and g. output, via the further terminal, a representation of one or more normalized scores. - View Dependent Claims (20)
Specification