System and method for managing transactions relating to real estate

• US 6,321,202 B1
• Filed: 12/10/1999
• Issued: 11/20/2001
• Est. Priority Date: 12/10/1999
• Status: Expired due to Fees

• Current Assignee: Home Link Services, Inc. (HomeCard Service, Inc.)
• Original Assignee: Home Link Services, Inc. (HomeCard Service, Inc.)
• Inventors: Raveis, William M. Jr.
• Primary Examiner(s): Stamber, Eric W.
• Assistant Examiner(s): Carlson, Jeffrey D.
• Application Number:
  US09/459,234
• Time in Patent Office: 711 Days
• Field of Search: 705/1, 705/8, 705/9
• US Class Current: 705/313
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 50/16 Real estate

Abstract

A system and method for managing real estate transactions is provided. The method includes the steps of receiving and storing data relating to a plurality of contacts including buyers and sellers of real estate, receiving and storing data relating to a plurality of vendors each associated with at least one phase of a real estate transaction, accessing vendor data based upon occurrence of a particular phase of the real estate transaction and communicating data relating to the vendors to a contact upon occurrence of the particular phase of the real estate transaction. The system includes means for conducting each of these steps.

Claims

1. A method for managing real estate transactions over a distributed computing network comprising the steps of:

(a) receiving and storing data relating to a plurality of contacts including buyers and sellers of real estate in a contact database, wherein each contact is associated with a real estate agent;

(b) receiving and storing data relating to a plurality of vendors of real estate related services in a vendor database, wherein each vendor is associated with at least one phase of a real estate transaction;

(c) accessing data in the vendor database relating to at least one vendor based upon an occurrence of a particular phase of a real estate transaction involving a contact;

(d) communicating said data relating to said at least one vendor to the contact upon the occurrence of the particular phase of the real estate transaction so as to market real estate related services provided by a vendor to the contact;

(e) receiving and storing data relating to the services provided by a vendor to the contact in the contact database; and

(f) providing the real estate agent associated with the contact with access to the contact database over a distributed computing network, so as to enable the real estate agent to monitor the services provided to the contact by a vendor.

2. A method according to claim 1, further comprising the step of determining a commission based upon a sale of vendor service to said contact.

3. A method according to claim 1, further comprising the step of determining a commission based upon the communication of data relating to the vendors to a contact upon occurrence of the particular phase of the real estate transaction.

4. A method according to claim 1, further comprising the step of receiving and storing data relating to a plurality of sales agents.

5. A method according to claim 4, further comprising the step of generating reports relating to activity of said plurality of sales agents.

6. A method according to claim 1, further comprising the step of receiving and storing data relating to real estate listings.

7. A method according to claim 6, further comprising the step of transmitting data relating to said real estate listings to said contact when said contact requests said data.

8. A method according to claim 1, wherein the step of accessing vendor data occurs upon signing of a real estate listing agreement.

9. A method according to claim 1, wherein the step of accessing vendor data occurs upon signing of a buyer agreement.

10. A method according to claim 1, wherein the step of accessing vendor data occurs upon signing of a binder agreement.

11. A method according to claim 1, wherein the step of accessing vendor data occurs upon closing of a contract for a sale of real estate.

12. A method according to claim 1, wherein the step of accessing vendor data occurs within a predetermined time period following a closing date for a real estate contract.

13. A method according to claim 1, wherein the step of accessing vendor data occurs within a predetermined time period preceding a closing date for a real estate contract.

14. A method according to claim 1, further comprising the step of assigning a move consultant to a contact upon the occurrence of a particular phase of the real estate transaction.

15. A method according to claim 14, wherein the steps of accessing and communicating data relating to vendors is conducted by the move consultant.

16. A method according to claim 15, further comprising the step of notifying the move consultant of the occurrence of a particular phase of the real estate transaction.

17. A method according to claim 1, further comprising the step of communicating future maintenance reminders to said contact based upon historical data relating to goods and services provided to the contact by a vendor during the real estate transaction.

18. A method according to claim 1, further comprising the step of issuing an access code to each contact to permit each contact to obtain discounted goods and services provided by the vendors.

44. A method according to claim 1, further comprising the step of providing the contact with access to the contact database over a distributed computing network, so as to enable the contact to monitor the services provided by the vendor.

19. A method for managing real estate transactions over a distributed computing network comprising the steps of:

(a) receiving and storing data relating to a plurality of contacts including buyers and sellers of real estate in a contact database, wherein each contact is associated with a real estate agent;

(b) receiving and storing data relating to a plurality of vendors of real estate related services in a vendor database, wherein each vendor is associated with at least one phase of a real estate transaction;

(c) assigning a move consultant to each contact to facilitate communication between the contact and at least one of the plurality of vendors upon an occurrence of a particular phase of the real estate transaction involving the contact, wherein the move consultant markets real estate related services to the contact;

(d) receiving and storing data relating to the services provided by a vendor to the contact in the contact database; and

(e) providing the real estate agent associated with the contact with access to the contact database over a distributed computing network, so as to enable the real estate agent to monitor the services marketed to the contact by the move consultant.

20. A method according to claim 19, further comprising the step of determining a commission based upon a sale of a vendor service to said contact by said move consultant.

21. A method according to claim 19, further comprising the step of determining a commission based upon the communication of data relating to the vendors to a contact by said move consultant upon the occurrence of the particular phase of the real estate transaction.

22. A method according to claim 19, further comprising the step of receiving and storing data relating to a plurality of real estate agents.

23. A method according to claim 19, further comprising the step of receiving and storing data relating to real estate listings.

24. A method according to claim 19, further comprising the step of accessing data related to at least one vendor upon an occurrence of an event selected from the group consisting of signing a listing agreement, signing a buyer agreement, signing of a binder agreement and closing of a contract for a sale of real estate.

25. A method according to claim 24, further comprising the step of notifying the move consultant of the occurrence of one of said events.

26. A method according to claim 19, further comprising the step of providing the move consultant with access to a database containing information relating to a plurality of contacts.

27. A method according to claim 19, further comprising the step of providing the move consultant with access to a database containing information relating to a plurality of vendors of real estate related goods and services.

28. A method according to claim 19, further comprising the step of communicating future maintenance reminders to said contact based upon historical data relating to goods and services provided to the contact by a vendor during the real estate transaction.

29. A method according to claim 19, further comprising the step of issuing an access card to each contact to permit each contact to obtain discounts on goods and services provided by the vendors.

45. A method according to claim 19, further comprising the step of providing the contact with access to the contact database over a distributed computing network, so as to enable the contact to monitor the services marketed by the move consultant.

30. A system for managing real estate transactions over a distributed computing network comprising:

(a) means for receiving and storing data relating to a plurality of contacts including buyers and sellers of real estate in a contact database, wherein each contact is associated with a real estate agent;

(b) means for receiving and storing data relating to a plurality of vendors of real estate related services in a vendor database, wherein each vendor is associated with at least one phase of a real estate transaction;

(c) means for accessing data from the vendor database relating to at least one vendor upon an occurrence of a particular phase of a real estate transaction involving a contact; and

(d) means for communicating said data relating to said at least one vendor to the contact upon the occurrence of the particular phase of the real estate transaction so as to market real estate related services provided by a vendor to the contact;

(e) means for receiving and storing data relating to the services provided by a vendor to the contact in the contact database; and

(f) means for providing the real estate agent associated with the contact with access to the contact database over a distributed computing network, so as to enable the real estate agent to monitor the services provided to the contact by a vendor.

31. A system as recited in claim 30, further comprising means for determining a commission based upon a sale of a vendor service to said contact.

32. A system according to claim 30, further comprising means for generating reports based upon the determination of commissions.

33. A system as recited in claim 30, further comprising means for receiving, storing and presenting text and graphics relating to real estate listings.

34. A system as recited in claim 33, further comprising means for transmitting said text and graphics to said contact when said contact requests said text and graphics via Internet communications.

35. A system as recited in claim 30, further comprising means for analyzing surveys received from said contacts relating to performance of a real estate company and employees thereof during a real estate transaction.

36. A method according to claim 30, further comprising means for communicating future maintenance reminders to said contact based upon historical data relating to goods and services provided to the contact by a vendor during the real estate transaction.

37. A system as recited in claim 30, further comprising means to permit each contact to obtain discounted goods and services provided by the vendors.

38. A method of cross-selling real estate related goods and services during various phases of a real estate transaction cycle, comprising the steps of:

a) receiving and storing data relating to a plurality of contacts including buyers and sellers of real estate in a contact database, wherein each contact is associated with a real estate agent;

b) receiving and storing data relating to a plurality of vendors of real estate related goods and services in a plurality of vendor databases, wherein each vendor is associated with at least one phase of a real estate transaction cycle;

c) accessing a first data set from a vendor database relating to at least one vendor based upon the execution of an agent agreement by a contact commencing a first phase of the real estate transaction cycle, and communicating the first data set to the contact based upon data in the contact database to facilitate a sale of preparatory goods and services to the contact during the first phase of the real estate transaction cycle;

d) accessing a second data set from a vendor database relating to at least one vendor based upon the execution of a binder agreement by the contact commencing a second phase of the real estate transaction cycle, and communicating the second data set to the contact based upon data in the contacts database to facilitate a sale of closing related goods and services to the contact during the second phase of the real estate transaction cycle;

e) accessing a third data set from a vendor database relating to at least one vendor based upon the execution of a contract for a sale of real estate by the contact commencing a third phase of the real estate transaction cycle, and communicating the third data set to the contact based upon data in the contacts database to facilitate a sale of postclosing related goods and services to the contact during the third phase of the real estate transaction cycle;

f) receiving and storing data in the contact database that relates to the goods and services provided by vendors to the contact; and

g) providing the real estate agent associated with the contact with access to the contact database over a distributed computing network, so as to enable the real estate agent to monitor the goods and services provided to the contact by vendors throughout each phase of the real estate transaction cycle.

39. A method according to claim 38, further comprising the step of assigning a move consultant to a contact in the contact database, the move consultant accessing data from the vendor databases during each phase of the real estate transaction cycle for each assigned contact.

40. A method according to claim 38, further comprising the step of determining a commission based upon a sale to a contact during any phase of the real estate transaction cycle.

41. A method of cross-selling real estate related goods and services during various phases of a real estate transaction cycle, comprising the steps of:

a) receiving and storing data relating to a plurality of contacts including buyers and sellers of real estate in a contact database containing a plurality of contact records, each contact record containing information corresponding to a particular contact, wherein each contact is associated with a real estate agent;

b) receiving and storing data relating to a plurality of vendors of real estate related goods and services in a plurality of vendor databases, each vendor database corresponding to a particular type of good or service and containing a plurality of vendor records, each vendor record containing information corresponding to a particular vendor, each vendor being associated with a particular phase of a real estate transaction cycle;

c) accessing a first vendor record based upon the execution of an agent agreement by a contact commencing a first phase of the real estate transaction cycle, and communicating information stored in the first vendor record to the contact based upon information stored in a contact record to facilitate a sale of preparatory goods and services to the contact by the first vendor during the first phase of the real estate transaction cycle;

d) accessing a second vendor record based upon the execution of a binder agreement by the contact commencing a second phase of the real estate transaction cycle, and communicating information stored in the second vendor record to the contact based upon information stored in the contact record to facilitate a sale of closing related goods and services to the contact by the second vendor during the second phase of the real estate transaction cycle;

e) accessing a third vendor record based upon the execution of a contract for a sale of real estate by the contact commencing a third phase of the real estate transaction cycle, and communicating information stored in the third vendor record to the contact based upon information stored in the contact record to facilitate a sale of postclosing related goods and services to the contact by the third vendor during the third phase of the real estate transaction cycle;

f) receiving and storing data in the contact'"'"'s record that relates to the goods and services provided by vendors to the contact; and

g) providing the real estate agent associated with the contact with access to the contact'"'"'s record over a distributed computing network, so as to enable the real estate agent to monitor the goods and services provided to the contact by vendors throughout each phase of the real estate transaction cycle.

42. A method according to claim 41, further comprising the step of assigning a move consultant to a contact in the contact database, the move consultant accessing at least one vendor record during each phase of the real estate transaction cycle for each assigned contact.

43. A method according to claim 41, further comprising the step of determining a commission based upon a sale by a vendor to a contact during any phase of the real estate transaction cycle.

46. A method for managing real estate transactions over a distributed computing network comprising the steps of:

a) receiving and storing data relating to a plurality of contacts including buyers and sellers of real estate in a contact database, wherein each contact is associated with a real estate agent;

b) receiving and storing data relating to a plurality of vendors of real estate related services in a vendor database, wherein each vendor is associated with at least one phase of a real estate transaction;

c) assigning a move consultant to each contact to market real estate related services to the contact at each stage of a real estate transaction involving the contact;

d) receiving and storing data relating to the services provided by a vendor to the contact in the contact database; and

e) providing the real estate agent associated with the contact with access to the contact database over a distributed computing network, so as to enable the real estate agent to monitor the services marketed to the contact by the move consultant.

47. A method according to claim 46, further comprising the step of providing the contact with access to the contact database over a distributed computing network, so as to enable the contact to monitor the services marketed by the move consultant.