System and method for collection, distribution, and use of information in connection with commercial real estate

• US 7,076,452 B2
• Filed: 10/11/2001
• Issued: 07/11/2006
• Est. Priority Date: 10/23/2000
• Status: Expired due to Term

• Current Assignee: Costar Realty Information Incorporated (CoStar Group Inc.)
• Original Assignee: CoStar Group Inc.
• Inventors: Farrington, Craig, Klionsky, Mark, Florance, Andrew C., Stanfill, John
• Primary Examiner(s): KRAMER, JAMES A
• Application Number:
  US09/973,703
• Publication Number:
  US 20020065739A1
• Time in Patent Office: 1,734 Days
• Field of Search: 705/26, 705/27, 705/1, 701/207
• US Class Current: 705/26.43
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0617 Representative agent
• CPC Class Codes: G06Q 30/0643 Graphical representation of items or shoppers
• CPC Class Codes: G06Q 50/16 Real estate

Abstract

A system and method for creating a unified commercial real estate data model through collection, distribution and use of information in connection with commercial real estate and for creating a web-based marketplace that facilitates the efficient and secure buying and selling of commercial properties. The invention provides a digital marketplace in which the members of the commercial real estate and related business community can continuously interact and facilitate transactions by efficiently exchanging accurate and standardized information.

Claims

1. A method for supplying content from a central commercial real estate database to a web site of an affiliate, the method comprising:

providing user equipment sets, each user equipment set comprising a display and a location determining device for generating data pertaining to the user'"'"'s location and for transmitting the data pertaining to the user'"'"'s location to a remote computer automatically;

providing a computer, the computer equipped for wireless communication with geographically remote users that are equipped with the equipment sets so as to send data to the equipment sets and receive data from the equipment sets including the data pertaining to the user'"'"'s location; and

providing the central commercial real estate database in communication with the computer, the central commercial real estate database storing information that includes information identifying a location of a property and features of the property,

whereby, in response to receipt of the data pertaining to a user'"'"'s location, the computer automatically;

identifies in the central commercial real estate database, from the information identifying a location of a property, a property nearby the user'"'"'s location, wherein the nearby property is associated with the affiliate,

retrieves from the central commercial real estate database the features of the nearby property, and an identification of features of the property that have not been entered into the central commercial real estate database,

transmits the features and the identification of missing features of the nearby property to the user'"'"'s equipment set for display on the display, and

prompts the user to update the features and input the missing features through the user'"'"'s equipment set;

displaying on the web site a graphical user interface having a modifiable portion and having a linked portion, wherein the web site is in communication with the central commercial real estate database, wherein the central commercial real estate database contains data associated with more than one affiliate;

displaying, in the modifiable portion, content originating from the web site of the affiliate;

executing automatically a predetermined query of the central commercial real estate database to retrieve only property information associated with the affiliate; and

displaying the property information in the linked portion, the property information including the features and the inputted missing features of the nearby property associated with the affiliate.

2. The method of claim 1, wherein the affiliate is one of a particular agent and a brokerage company, and wherein the step of displaying the property information comprises displaying, in the linked portion, property information that is associated with the one of a particular agent and a brokerage company.

3. The method of claim 1, wherein the content in the modifiable portion comprises one of a logo, contact information, and a service description of the affiliate.

4. The method of claim 1, wherein the displayed property information includes descriptions and photographs of listed properties.

5. The method of claim 1, wherein the affiliate is a commercial real estate broker, and wherein the property information comprises commercial real estate listing on which the commercial real estate broker is listed.

6. The method of claim 1, wherein the affiliate is a commercial real estate broker, and wherein the predetermined query searches the central commercial real estate database for entries associated with the commercial real estate broker.

7. The method of claim 1, wherein the affiliate is a commercial real estate broker, and wherein the property information is associated only with an individual agent of the commercial real estate broker.

8. The method of claim 7, wherein the predetermined query searches the central commercial real estate database for entries associated with the commercial real estate broker and the individual agent.

9. The method of claim 1, further comprising:

updating the property information in the central commercial real estate database;

executing automatically for a second time the predetermined query of the central commercial real estate database to retrieve only updated property information associated with the affiliate; and

displaying the updated property information in the linked portion.

10. The method of claim 1, wherein the property information is retrieved in response to a user'"'"'s accessing the web site of the affiliate, and wherein the property information is displayed in real time to the user through the web site of the affiliate.

11. The method of claim 1, wherein the property information includes a photograph of a property, an address of the property, a building class size of the property, a building size of the property, a number of floors of the property, a year in which the property was built, a buyer of the property, a sale price of the property, a price per square foot of the property, and a cap rate of the property.

12. The method of claim 1, wherein the property information includes a square footage of a property available for lease, whether the property is available for sale, an address of the property, contact information associated with the property, and a price associated with the property.