Ranking real estate based on its value and other factors
First Claim
Patent Images
1. A method for ordering real estate properties, comprising:
- calculating a rank score for each real estate property based on its property value, trust factors, listing history, and local market trends; and
sorting each real estate property in accordance with its rank score, wherein calculating the rank score includes calculating the rank score as a product of two multiplicands, the first multiplicand being a quotient of a factor “
average days on the market for sold properties”
of an object market as a dividend and factor “
days on the market”
of an object property as a divisor, the second multiplicand being a sum of two summands, the first summand being a product of two multiplicands, the first multiplicand of the first summand being a difference between a constant 1 as a minuend and factor “
estimation trust weight”
of the object property as a subtrahend, the second multiplicand of the first summand being a quotient, which divisor is a factor “
list price”
of the object property, the dividend of the quotient being a difference between a factor “
estimated market value”
of the object property, as a minuend, and the factor “
list price”
of the object property, as a subtrahend, the second summand of the second multiplicand being a product of the factor “
estimation trust weight”
of the object property, and a factor “
estimation trust factor”
of the object property.
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Abstract
Real estate ranking computation is calculated to sort real estate properties. Such computations use available information regarding real estate properties in any local markets and may help the real estate buyer to identify real estate properties with various ranked financial values. Suitably, a relatively small geographic area can be used based on the real estate buyer'"'"'s specified criteria, and the real estate ranking computation is able to handle interactions among predictor variables, possesses suitable predictive confidence, and includes the capability for dynamically adjusting the underlying ranking computation as new patterns of real estate market emerge over time.
33 Citations
18 Claims
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1. A method for ordering real estate properties, comprising:
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calculating a rank score for each real estate property based on its property value, trust factors, listing history, and local market trends; and sorting each real estate property in accordance with its rank score, wherein calculating the rank score includes calculating the rank score as a product of two multiplicands, the first multiplicand being a quotient of a factor “
average days on the market for sold properties”
of an object market as a dividend and factor “
days on the market”
of an object property as a divisor, the second multiplicand being a sum of two summands, the first summand being a product of two multiplicands, the first multiplicand of the first summand being a difference between a constant 1 as a minuend and factor “
estimation trust weight”
of the object property as a subtrahend, the second multiplicand of the first summand being a quotient, which divisor is a factor “
list price”
of the object property, the dividend of the quotient being a difference between a factor “
estimated market value”
of the object property, as a minuend, and the factor “
list price”
of the object property, as a subtrahend, the second summand of the second multiplicand being a product of the factor “
estimation trust weight”
of the object property, and a factor “
estimation trust factor”
of the object property. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14)
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15. A system for ordering real estate properties, comprising:
- a processor for executing
an estimated market value calculator configured to calculate real estate value; a trust factors calculator configured to calculate confidence of the real estate value; a history of the listing calculator configured to calculate the number of days on the market of a real estate property; and a rank score calculator configured to calculate a rank score for each real estate property based on calculations made by the estimated market value calculator, the trust factors calculator, and the history of the listing calculator, wherein calculating the rank score includes calculating the rank score as a product of two multiplicands, the first multiplicand being a quotient of a factor “
average days on the market for sold properties”
of an object market as a dividend and factor “
days on the market”
of an object property as a divisor, the second multiplicand being a sum of two summands, the first summand being a product of two multiplicands, the first multiplicand of the first summand being a difference between a constant 1 as a minuend and factor “
estimation trust weight”
of the object property as a subtrahend, the second multiplicand of the first summand being a quotient, which divisor is a factor “
list price”
of the object property, the dividend of the quotient being a difference between a factor “
estimated market value”
of the object property, as a minuend, and the factor “
list price”
of the object property, as a subtrahend, the second summand of the second multiplicand being a product of the factor “
estimation trust weight”
of the object property, and a factor “
estimation trust factor”
of the object property.
- a processor for executing
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16. A non-transitory computer-readable medium having computer-executable instructions stored thereon for implementing a method for ordering real estate properties, comprising:
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calculating a rank score for each real estate property based on its property value, trust factors, listing history, and local market trends; and sorting each real estate property in accordance with its rank score, wherein calculating the rank score includes calculating the rank score as a product of two multiplicands, the first multiplicand being a quotient of a factor “
average days on the market for sold properties”
of an object market as a dividend and factor “
days on the market”
of an object property as a divisor, the second multiplicand being a sum of two summands, the first summand being a product of two multiplicands, the first multiplicand of the first summand being a difference between a constant 1 as a minuend and factor “
estimation trust weight”
of the object property as a subtrahend, the second multiplicand of the first summand being a quotient, which divisor is a factor “
list price”
of the object property, the dividend of the quotient being a difference between a factor “
estimated market value”
of the object property, as a minuend, and the factor “
list price”
of the object property, as a subtrahend, the second summand of the second multiplicand being a product of the factor “
estimation trust weight”
of the object property, and a factor “
estimation trust factor”
of the object property. - View Dependent Claims (17, 18)
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Specification
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Current AssigneeXome Holdings LLC
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Original AssigneeQuantarium, LLC (Mr. Cooper Group, Inc.)
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InventorsSmintina, Ioan, Ifrim, Clement, Petriuc, Elena, Petriuc, Mihai
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Primary Examiner(s)REYES, MARIELA D
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Application NumberUS13/331,505Publication NumberTime in Patent Office994 DaysField of Search707/748, 707/751, 707/946US Class Current707/748CPC Class CodesG06Q 30/0623 Item investigationG06Q 50/16 Real estate
