Method and system for providing real estate information

• US 8,060,450 B2
• Filed: 07/15/2009
• Issued: 11/15/2011
• Est. Priority Date: 07/26/2000
• Status: Expired due to Term

• Current Assignee: Yardi Systems Incorporated
• Original Assignee: Pierce-Eislen Incorporated (Yardi Systems Incorporated)
• Inventors: Brock, Ronald G. Sr.
• Primary Examiner(s): MILEF, ELDA G
• Application Number:
  US12/479,489
• Publication Number:
  US 20090271307A1
• Time in Patent Office: 853 Days
• Field of Search: 705/1, 705/313, 705/1.1
• US Class Current: 705/313
• CPC Class Codes: G06Q 30/0278 Product appraisal
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 50/16 Real estate

Abstract

An interactive, computer-implemented system for providing a comparison of at least two real estate properties is provided. The system includes a database that stores a plurality of data relating to real estate properties. The data includes at least one of address data, ownership data, size data, geographic location data and monetary value data. An interface system enables a system user to input a request for a comparison of at least a portion of the data for at least two of the real estate properties. The request includes information sufficient to identify the real estate properties to be compared. A processor uses the information to obtain a comparison of the data relating to the real estate properties. A delivery system provides to the system user a comparison of the data relating to the real estate properties.

Claims

1. A method for calculating a location rating of a subject real estate property, said method comprising:

providing an input device for selecting a plurality of location factors generally associated with real estate properties of a type similar to that of the subject real estate property, said plurality of location factors divided into sets of location factors;

attributing to said each of said sets of location factors a weight indicator having a numerical representation;

said input device in communication with a computer containing a processor;

for said each of said sets of location factors, the processor evaluating each of said plurality of location factors for said subject real estate property and attributing to said each of said plurality of location factors a factor score to obtain a plurality of factor scores, each of said plurality of factor scores having a numerical representation based on said evaluating;

for said each of said sets of location factors, summing said plurality of factor scores to obtain a total score;

for said each of said sets of location factors, diving said total score by said number of location factors in said each of said sets of location factors to obtain an average score;

for said each of said sets of location factors, multiplying said average score by said weight indicator to obtain a weighted score;

adding said weighted scores of said sets of location factors to obtain a total weighted score;

adding said weighted indicators of said sets of location factors to obtain a total weight indicator;

and dividing said total weighted score by said total weight indicator to obtain a location rating.

2. The method of claim 1, wherein said subject real estate property is an apartment complex.

3. The method of claim 1, wherein said subject real estate property is a single family home.

4. The method of claim 1, wherein said subject real estate property is a commercial property.

5. The method of claim 1, further comprising converting said location rating to an alphabetic score.

6. A system for providing a market standard monetary value of a subject real estate property, said system comprising:

a database storing the identity of a plurality of real estate properties, an actual monetary value for each of said plurality of real estate properties, a plurality of monetary value-effecting characteristics generally associated with real estate properties of a type similar to that of the subject real estate property, and a characteristics value for each of said plurality of monetary value-effecting characteristics, said characteristic value having one of a positive and negative value;

an interface system containing an input device in communication with a computer, the input device enabling a user to input a request for a market standard monetary value for said subject real estate property, said request comprising information sufficient to identify said subject real estate property from said plurality of real estate properties in said database;

a processor which uses at least one of said plurality of monetary value-effecting characteristics and said characteristics value for said at least one of said plurality of monetary value-effecting characteristics to obtain a market standard monetary value for said subject real estate property;

and a delivery system for providing said market standard monetary value to said user;

wherein said processor is configured to select from said database each of said plurality of monetary value-effecting characteristics that are possessed by said subject real estate property and to add to said actual monetary value of said subject real estate property said characteristics value for each of said plurality of monetary value-effecting characteristics possessed by said subject real estate property.

7. The system of claim 6, wherein said actual monetary value is an actual rental rate and said market standard monetary value is a market standard rental rate.

8. A system for providing a locating rating for real estate property, said system comprising:

a database storing;

a plurality of location factors for each of a plurality of real estate properties, a weight indicator associated with each of said plurality of location factors;

a factor score associated with each of said plurality of location factors;

an interface system for enabling a user to input a request for a location rating for one of said plurality of real estate properties, said request comprising information sufficient to identify said one of said plurality of real estate properties in said database;

a processor which uses said information to obtain a location rating for said one of said plurality of real estate properties; and

a delivery system for providing said location rating to said user;

wherein said processor is configured to obtain said location rating for said one of said plurality of real estate properties by obtaining a total weighted score based on said factor scores associated with each of said plurality of location factors of said one of said plurality of real estate properties and said weight indicators associated with each of said plurality of location factors of said one of said plurality of real estate properties; and

wherein said processor is configured to obtain said location rating by summing said weight indicators to obtain a total weight indicator and dividing said total weighted score by said total weight indicator.