System and method for reducing real estate transaction fees and improving confidence in agents

• US 20070016428A1
• Filed: 07/12/2005
• Published: 01/18/2007
• Est. Priority Date: 07/12/2005
• Status: Abandoned Application

• Current Assignee: Weh-Hey! Advertising Incorporated
• Original Assignee: Weh-Hey! Advertising Incorporated
• Inventors: Loveland, Damien
• Application Number:
  US11/160,818
• Publication Number:
  US 20070016428A1
• Time in Patent Office: Days
• US Class Current: 705/1.100
• CPC Class Codes: G06Q 30/00 Commerce
• CPC Class Codes: G06Q 50/167 Closing

Abstract

A low cost method for making considerable savings on real estate agents fees employing a computer system which displays, as a first feature, lists of real estate agents in a given locality who provide a transaction only service, which excludes advertising and marketing. A second feature is the display of advertisements of homes for sale which do not carry financial commitments to real estate agents, and homes wanted by people who have no agreement with an agent. A third feature is an indication of the level of ethics of the listed agents.

Claims

1. A system for displaying contact information for a locality dependent selection of real estate agents whose services include, but are not limited to, a transaction only service, comprising:

a server, one or more remote data terminals each with a display device, data transmission means providing a signal path for data exchange between said server and said one or more data terminals, data storage means within a server, and processing means within a server;

wherein said transaction only service comprises one or more of;

provision of a contract for the purchaser to buy and the vendor to sell real estate, advice on how to complete said contract, writing an offer or counter offer to buy real estate, writing an offer or counter offer to sell real estate, negotiation on behalf of a real estate vendor or purchaser, representation of the real estate vendor or purchaser, management of a real estate transaction, and coordination with third parties to the transaction;

wherein said transaction only service excludes advertising and marketing;

wherein said contact information comprises one or more of;

a telephone number, an address, an email address, a website address and a hyperlink;

and wherein the term real estate agent includes real estate brokers, realtors and all people performing similar functions to real estate agents.

2. The system according to claim 1 wherein one or more said servers and said one or more remote data terminals exchange data through the internet.

3. The system according to claim 2 operative via a website comprising searchable access to advertisements of homes for sale, homes wanted or both homes for sale and homes wanted.

4. The system according to claim 3 wherein an individual requesting the removal from the website of an advertisement is prompted to provide feedback about one or more of the real estate agent and service providers used by said individual in a real estate transaction.

5. The system according to claim 1 wherein said information additionally comprises contact information for a locality dependent selection of real estate agents who do not provide a transaction only service, and further comprises informative means for distinguishing between the real estate agents who provide a transaction only service and the real estate agents who do not provide a transaction only service.

6. The system according to claim 1 wherein said information additionally comprises for each real estate agent an indication of the satisfaction of said real estate agent'"'"'s clients with said real estate agent'"'"'s service.

7. The system according to claim 1 wherein said information additionally comprises contact information for a locality dependent selection of service providers from one or more of the following groups:

real estate lawyers, lenders, mortgage brokers, home inspectors, painters, builders, remodellers and other professionals providing services to the real estate industry.

8. The system according to claim 7 wherein said information additionally comprises for each service provider an indication of the satisfaction of said service provider'"'"'s clients with said service provider'"'"'s service.

9. A system for displaying contact information for a locality dependent selection of real estate agents and feedback about one or more of said real estate agents independently provided to said system by clients of said real estate agents, comprising:

a server, one or more remote data terminals each with a display device, data transmission means providing a signal path for data exchange between said server and said one or more data terminals, data storage means within a server, and processing means within a server;

wherein the system is operative via a website comprising searchable access to advertisements of homes for sale, homes wanted or both homes for sale and homes wanted;

wherein said contact information and said feedback are displayed on the same or different display pages;

wherein said contact information comprises one or more of;

a telephone number, an address, an email address, a website address, and a hyperlink;

wherein said feedback comprises one or more of;

individual comments provided independently by clients, details of commission charged, the number of clients who have left feedback, a compiled rating, and details of how the rating has changed over time;

and wherein the term real estate agent includes real estate brokers, realtors and all people performing similar functions to real estate agents.

10. The system according to claim 9 wherein a feedback rating for a real estate agent, contact details for said agent and a home advertisement listed for sale by said agent are displayed on the same page, wherein said contact details comprise one or more of:

a telephone number, an address, an email address, a website address, and a hyperlink.

11. A method for reducing the cost of real estate transactions comprising:

storing, within a data storage means in a server, contact details for real estate agents whose services include, but are not limited to, a transaction only service;

accepting from a user, via a remote data terminal or other input device, an input indicative of a locality in which the user may want to buy or sell a home;

processing said input, on a processing means within a server, in order to select from said contact details, information relating to real estate agents operating in the locality indicated by the input of the user;

transmitting the selected information, via data transmission means, to the user'"'"'s remote data terminal;

displaying, on the user'"'"'s remote data terminal or other display device, contact information for a locality dependent selection of real estate agents who provide at least a transaction only service;

wherein said transaction only service comprises one or more of;

provision of a contract to buy and sell real estate, advice on how to complete a contract to buy and sell real estate, writing an offer or counter offer to buy real estate, writing an offer or counter offer to sell real estate, negotiation on behalf of the vendor or purchaser, representation of the vendor or purchaser, management of a real estate transaction, and coordination with third parties to the transaction;

wherein said transaction only service excludes advertising and marketing;

wherein said information comprises one or more of;

a telephone number, an address, an email address, a website address and a hyperlink;

and wherein the term real estate agent includes real estate brokers, realtors and all people performing similar functions to real estate agents.

12. The method according to claim 11 wherein said server and said one or more remote data terminals exchange data through the internet.

13. The method according to claim 12 operative via a website comprising searchable access to advertisements of homes for sale, homes wanted, or both homes for sale and homes wanted.

14. The system according to claim 13 wherein an individual requesting the removal from the website of an advertisement is prompted to provide feedback about one or more of the real estate agent and service providers used by said individual in a real estate transaction.

15. The method according to claim 11 wherein information displayed on the user'"'"'s display additionally comprises contact information for a locality dependent selection of real estate agents who do not provide a transaction only service, and further comprises informative means for distinguishing between the real estate agents who provide a transaction only service and the real estate agents who do not provide a transaction only service.

16. The method according to claim 11 wherein said information additionally comprises for each real estate agent an indication of the satisfaction of said real estate agent'"'"'s clients with said real estate agent'"'"'s service.

17. The method according to claim 11 wherein said information additionally comprises contact information for a locality dependent selection of one or more of the following groups:

real estate lawyers, lenders, mortgage brokers, home inspectors, painters, builders, remodellers and other professionals providing services to the real estate industry.

18. The method according to claim 17 wherein said information additionally comprises for each service provider an indication of the satisfaction of said service provider'"'"'s clients with said service provider'"'"'s service.