Method and system for managing real property transactions having internet access and control

• US 7,848,966 B2
• Filed: 07/31/2008
• Issued: 12/07/2010
• Est. Priority Date: 08/11/2000
• Status: Expired due to Fees

• Current Assignee: BRER Affiliates Incorporated (Prudential Financial Incorporated)
• Original Assignee: Prudential Insurance Company of America (Prudential Financial Incorporated)
• Inventors: Cafferky, Sean Allan, Charuk, James Michael, Capper, Russell Neill, Jumper, Samuel Waldon
• Primary Examiner(s): FADOK, MARK A
• Application Number:
  US12/184,045
• Publication Number:
  US 20080288336A1
• Time in Patent Office: 859 Days
• Field of Search: 705/26, 705/27, 705/1
• US Class Current: 705/26.8
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 30/0201 Market modelling; Market analysis; Collecting market data
• CPC Class Codes: G06Q 30/0205 Location or geographical consideration
• CPC Class Codes: G06Q 30/0206 Price or cost determination based on market factors
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0633 Lists, e.g. purchase orders, compilation or processing
• CPC Class Codes: G06Q 30/0641 Shopping interfaces
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 50/16 Real estate
• CPC Class Codes: G06Q 50/167 Closing

Abstract

In general, the invention is directed to a system for managing real estate transactions that includes a data interface and an application server. The data interface is configured to access property data for a number of properties listed for sale. The application server operatively connected to the data interface and configured to monitor a first search activity of a first buyer, where the first search activity is associated with at least one of the number of properties and monitor a second search activity of a second buyer, where the second search activity is associated with the at least one of the number of properties. The application server is further configured to generate an activity alert providing notification of the first search activity and the second search activity to a seller, where the at least one of the number of properties is listed for sale for the seller.

Claims

1. A system for managing a real estate transaction, comprising:

a data interface configured to access property data for a plurality of properties listed for sale; and

an application server operatively connected to the data interface and configured to;

monitor a first search activity of a first buyer,

wherein the first search activity is associated with at least one of the plurality of properties, and

wherein the first search activity is requesting a viewing of the at least one of the plurality of properties by the first buyer;

monitor a second search activity of a second buyer,

wherein the second search activity is associated with the at least one of the plurality of properties, and

wherein the second search activity is adding the at least one of the plurality of properties to a portfolio of the second buyer; and

generate an activity alert providing notification of the first search activity and the second search activity to a seller, wherein the at least one of the plurality of properties is listed for sale for the seller.

2. The system as defined in claim 1, wherein the activity alert comprises at least one selected from a group consisting of posting to a web page accessible to the seller, sending an electronic mail message to the seller and dialing a pager telephone number associated with the seller.

3. The system as defined in claim 1, wherein the property data is obtained from a Multiple Listing Service (MLS).

4. The system as defined in claim 1, wherein the application server is configured to notify the seller of a competing property matching a criterion selected by the seller, wherein the competing property is one of the plurality of properties.

5. The system as defined in claim 1, wherein the criterion comprises at least one selected from a group of sales price of the at least one of the plurality of properties and geographic location of the at least one of the plurality of properties.

6. The system as defined in claim 1, wherein based on the activity alert, the seller performs an action from a group consisting of adjusting an asking price of the at least one of the plurality of properties and repairing deficiencies in the at least one of the plurality of properties.

7. A method for managing a real estate transaction, comprising:

obtaining property data for a plurality of properties listed for sale;

monitoring a first search activity of a first buyer,

wherein the first search activity is associated with at least one of the plurality of properties, and

wherein the first search activity is requesting a viewing of the at least one of the plurality of properties by the first buyer;

monitoring a second search activity of a second buyer,

wherein the second search activity is associated with the at least one of the plurality of properties, and

wherein the second search activity is adding the at least one of the plurality of properties to a portfolio of the second buyer; and

sending an activity alert for providing notification of the first search activity and the second search activity to a seller, wherein the at least one of the plurality of properties is listed for sale for the seller.

8. The method of claim 7, wherein the activity alert comprises at least one selected from a group consisting of posting to a web page accessible to the seller, sending an electronic mail message to the seller and dialing a pager telephone number associated with the seller.

9. The method of claim 7, wherein the property data is obtained from a Multiple Listing Service (MLS).

10. The method of claim 7, wherein the application server is configured to notify the seller of a competing property matching a criterion selected by the seller, wherein the competing property is one of the plurality of properties.

11. The method of claim 10, wherein the criterion comprises at least one selected from a group of sales price of the at least one of the plurality of properties and geographic location of the at least one of the plurality of properties.

12. The method of claim 7, wherein based on the activity alert, the seller performs an action from a group consisting of adjusting an asking price of the at least one of the plurality of properties and repairing deficiencies in the at least one of the plurality of properties.

13. A computer readable medium, embodying instructions executable by the computer to perform method steps for managing a real estate transaction, the instructions comprising functionality to:

obtain property data for a plurality of properties listed for sale;

monitor a first search activity of a first buyer,

wherein the first search activity is associated with at least one of the plurality of properties, and

wherein the first search activity is requesting a viewing of the at least one of the plurality of properties by the first buyer;

monitor a second search activity of a second buyer,

wherein the second search activity is associated with the at least one of the plurality of properties, and

wherein the second search activity is adding the at least one of the plurality of properties to a portfolio of the second buyer; and

send an activity alert for providing notification of the first search activity and the second search activity to a seller, wherein the at least one of the plurality of properties is listed for sale for the seller.

14. The computer readable medium of claim 13, wherein the activity alert comprises at least one selected from a group consisting of posting to a web page accessible to the seller, sending an electronic mail message to the seller and dialing a pager telephone number associated with the seller.

15. The computer readable medium of claim 13, wherein the property data is obtained from a Multiple Listing Service (MLS).

16. The computer readable medium of claim 13, wherein the application server is configured to notify the seller of a competing property matching a criterion selected by the seller, wherein the competing property is one of the plurality of properties.

17. The computer readable medium of claim 16, wherein the criterion comprises at least one selected from a group of sales price of the at least one of the plurality of properties and geographic location of the at least one of the plurality of properties.

18. The computer readable medium of claim 16, wherein based on the activity alert, the seller performs an action from a group consisting of adjusting an asking price of the at least one of the plurality of properties and repairing deficiencies in the at least one of the plurality of properties.