System and method of creating an adjustable commission

• US 7,987,113 B2
• Filed: 12/28/2004
• Issued: 07/26/2011
• Est. Priority Date: 12/30/2003
• Status: Active Grant

• Current Assignee: Smarter Agent LLC
• Original Assignee: Smarter Agent LLC
• Inventors: Blumberg, Brad W., Blumberg, Eric M.
• Primary Examiner(s): Weiss; John G
• Assistant Examiner(s): Chornesky; Adam
• Application Number:
  US11/022,937
• Publication Number:
  US 20050149419A1
• Time in Patent Office: 2,401 Days
• Field of Search: 705/14, 705/10, 705/7, 705/11, 705/14.44, 705/2, 705/14.15, 705/14.69, 705/14.7
• US Class Current: 705/14.15
• CPC Class Codes: G06Q 30/0213 Consumer transaction fees
• CPC Class Codes: G06Q 30/0273 Determination of fees for advertising
• CPC Class Codes: G06Q 30/0274 Split fees
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

A method of determining a commission comprises providing a plurality of selectable variables. The plurality of variables are associated with an asset. A commission associated with a sale of the asset based at least partially on a selection of at least one variable from the plurality of variables is calculated. Calculating the commission includes assigning a value to each variable selected from the plurality of variables.

Claims

1. A method of determining a commission, comprising:

providing from a server a plurality of selectable variables to an electronic device, the plurality of selectable variables associated with a real estate asset for sale;

receiving at the server a selection of at least one variable from the plurality of selectable variables sent from the electronic device;

calculating at the server a commission associated with a sale of the real estate asset based at least partially on the selection of at least one variable from the plurality of selectable variables;

providing from the server the calculated commission to the electronic device;

receiving at the server from the electronic device an indication that the calculated commission is one of accepted or rejected;

after the receiving, updating at the server a value associated with at least one variable from the plurality of selectable variables based on at least one of a change of market condition or a change of economic condition associated with the at least one variable from the plurality of selectable variables; and

after the updating, recalculating at the server the commission for the same sale of the same real estate asset based on the updated value of the at least one variable from the plurality of selectable variables.

2. The method of claim 1, further comprising:

prior to the calculating, sending from the server the selected variables from the plurality of selectable variables to at least one third party; and

receiving at the server an input from one third party from the at least one third party, the input being a quote for a commission.

3. The method of claim 1, further comprising:

sending from the server the selected variables from the plurality of selectable variables to at least one third party;

receiving an input at the server from one third party from the at least one third party; and

outputting from the server to the electronic device data associated with the input received from the one third party.

4. The method of claim 1, further comprising:

prior to the recalculating, providing from the server to the electronic device the plurality of selectable variables at a subsequent time;

receiving from the electronic device a selection of at least one variable from the plurality of selectable variables received at the subsequent time, the recalculating at the server of the commission being based at least partially on the at least one variable from the plurality of selectable variables selected at the subsequent time.

5. A processor-readable medium storing code representing instructions to cause a processor to perform a process, the code comprising code to:

provide to an electronic device a plurality of selectable variables, the plurality of selectable variables associated with a real estate asset for sale;

receive a selection of at least one variable from the plurality of selectable variables; and

calculate a commission associated with a sale of the real estate asset based at least partially on the selection of at least one variable from the plurality of selectable variables, the calculating including assigning a value to each variable selected from the plurality of selectable variables;

provide the calculated commission to the electronic device;

receive from the electronic device an indication that the calculated commission is accepted or rejected;

after the receiving, update a value associated with at least one variable from the plurality of selectable variables based on at least one of a change of market condition or a change of economic condition associated with the at least one variable from the plurality of selectable variables; and

after the updating, recalculate the commission for the same sale of the same real estate asset based on the updated value of the at least one variable from the plurality of selectable variables.

6. The processor-readable medium of claim 5, further comprising code to:

send selected variables from the plurality of selectable variables to at least one third party; and

receive an input from one third party from the at least one third party, the input being a quote for a commission.

7. The processor-readable medium of claim 5, further comprising code to:

send selected variables from the plurality of selectable variables to at least one third party;

receive an input from one third party from the at least one third party; and

output data associated with the input received from the one third party.

8. The processor-readable medium of claim 5, further comprising code to:

prior to the recalculating, provide to the electronic device the plurality of selectable variables at a subsequent time,

receive from the electronic device a selection of at least one variable from the plurality of selectable variables received at the subsequent time, the recalculating the commission being based at least partially on the at least one variable from the plurality of selectable variables selected at the subsequent time.

9. The processor-readable medium of claim 5, wherein the plurality of selectable variables includes at least one of an advertising variable, a marketing variable, an MLS listing fee, and an administrative cost.

10. A processor-readable medium storing code representing instructions to cause a processor to perform a process, the code comprising code to:

receive at an electronic device a plurality of selectable variables from a server, each variable from the plurality of selectable variables having an associated first value;

select at the electronic device at least one variable from the plurality of selectable variables;

input into the electronic device data associated with a real estate asset;

send from the electronic device the at least one selected variable to the server;

receive at the electronic device a quote for a commission associated with a sale of the real estate asset, the quote based at least in part on the selected variable and its associated value;

after receiving at the electronic device a quote, send from the electronic device a response to the server indicating whether the quote for a commission associated with the sale of the real estate asset is one of accepted or rejected;

after the sending a response, select at the electronic device at least one variable from the plurality of selectable variables at a subsequent time, at least one of the variables from the plurality of selectable variables received at the subsequent time having a second value different than the first value;

send from the electronic device to the server at least one selected variable from the plurality of selectable variables received at the subsequent time; and

receive at the electronic device a recalculated quote for a commission for the same sale of the same real estate asset based on the variables from the plurality of selectable variables selected at the subsequent time.

11. The processor-readable medium of claim 10, further comprising code to:

send from the electronic device the at least one selected variable to at least one third party.

12. The processor-readable medium of claim 10, further comprising code to:

send from the electronic device the at least one selected variable to at least one third party the third party being different than the server; and

receive at the electronic device an input at the electronic device from one third party from the at least one third party, the input being a quote for a commission associated with the real estate asset.

13. The processor-readable medium of claim 10, wherein the code to receive a quote for a commission includes code to receive a plurality of quotes for a commission associated with a sale of the real estate asset, the code to send a response includes one of accepting one of the quotes for a commission associated with the sale of the real estate asset from the plurality of quotes for a commission associated with the sale of the real estate asset or rejecting all the quotes for a commission associated with the sale of the real estate asset.