Description:SYSTEM AND METHOD FOR REAL-TIME MANAGEMENT OF REAL ESTATE

FIELD OF INVENTION
The present invention generally relates to real estate management, and more particularly to real-time real estate management.
BACKGROUND OF INVENTION
A user of the system disclosed by the present disclosure may be a real estate agent (agent) or a client. The client may include but not limited to, a seller, a landlord, a mortgagee, or a buyer, a tenant, or a mortgagor.
Real estate property may be of various types, including but not limited to, lands of all types agricultural, residential, abadi, commercial, industrial, and also permanent structures erected over land such as buildings, homes, houses, shops, commercial, industrial establishments.
Information and web technologies have revolutionized property management. While only a few decades ago there were no property management using the web technologies, now there are many standalone, web and app platforms providing real estate property services to various stakeholders. Most of the existing systems and/or methods relating to real estate are focused on requirement of consumers such as sellers and buyers, a very few are directed to requirements and needs of real estate agents or brokers.
Even the systems and/or methods directed towards the agents, they fail to fulfil various necessary needs of the agents.
The present invention provides comprehensive services to real estate agents and overcomes limitations of the existing systems and methods for real estate management.
SUMMARY
The present invention provides methods and systems for real-time management of real estate. Activities related to one or more real estate properties from one or more real estate agents on a real estate management system are received. The received activities may be classified into one of a general activity, a financial activity, or a legal activity. A genact timeline, a finact timeline, and a legact timeline are generated based respectively on the general activity, the financial activity and the legal activity. The finact timeline represents a financial outcome of the financial activity with respect to time. The legact timeline represents a legal outcome of the legal activity with respect to time. The genact timeline represents an outcome other than a financial or legal outcome of the general activity with respect to time. A reward index is generated for the one or more agents based on at least one of the genact timeline, the finact timeline, and the legact timeline.
BRIEF DESCRIPTION OF DRAWINGS
This brief description of drawings is only illustrative in nature and only certain embodiments and features of the present invention are shown in the drawings. Further like reference numerals represent similar components / features / modules / functions of the present invention, wherein
FIG. 1 is a block diagram illustrating a functional environment 100 for a real estate management system 102 (hereinafter, system), according to an embodiment of the present invention;
FIG. 2 is a block diagram illustrating internal composition of the system 102 for real estate management, according to an embodiment of the present invention;
FIG. 3 is a block diagram illustrating internal composition of a system core 200 of the system 102 for real estate management, according to an embodiment of the present invention;
FIG. 4 is a data flow diagram illustrating a method 400 for real estate management, according to an embodiment of the present invention; and
FIG. 5 is a block diagram illustrating a dashboard 500 for real estate management, according to an embodiment of the present invention.
The features, embodiments illustrated in the drawings are not exhaustive and are better explained in the detailed description below and defined by the claims after the detailed description.
DETAILED DESCRIPTION
In this disclosure, unless otherwise indicated singular includes plural, male pronoun includes female pronoun.
FIG. 1 is a block diagram illustrating a functional environment 100 for the system 102, according to an embodiment of the present invention. The system 102 is communicatively coupled to an agent device 104 and a client device 106 via a network 108. The system 102 is configured for management of real estate properties in real time.
The system 102 is the central component of the real estate management environment 100. The system 102 includes software and hardware that facilitate the management of real estate properties. The system 102 could be hosted on servers, cloud-based, or even a combination of both. The agent device 104 is used by real estate agents or property managers. They may use it to input data, update property listings, communicate with clients, and perform other tasks related to the management of real estate properties. The client device 106 is used by clients or potential buyers / renters who want to interact with the real estate properties managed by the system 102. They may use it to browse listings, schedule viewings, make inquiries, or possibly even complete transactions. The network 108 serves as the communication infrastructure that connects the system 102, the agent device 104, and the client device 106. It could be a local network or the internet, depending on how the system is set up. The network enables real-time communication and data transfer between these components. The system 102 enables real-time management of real estate properties. This means that updates, changes, and information related to properties are reflected instantly. For example, when a property is listed, updated, or sold, these changes are reflected in real time for both agents and clients. The system 102 could have various functionalities, including property listings, financial management, communication tools, data analytics, and more, all designed to streamline the process of buying, selling, or renting real estate properties. It could also include features such as online viewing appointments, virtual tours, document management, and communication tools for agents and clients to interact efficiently.
In one embodiment, the system 102 is configured to receiving activities related to one or more real estate properties from one or more real estate agents in real time. In this embodiment, the system 102 is designed to receive real-time activity updates. Real estate agents may perform various activities related to properties they are managing. These activities could include listing new properties, updating property details, scheduling viewings, receiving inquiries from clients, making price changes, and more. The system 102 is configured to receive and process these updates as they occur, in real time. This ensures that the information presented to clients is always current. The system 102 can handle multiple real estate properties. This means that it's not limited to a single property but can manage a portfolio of properties simultaneously. Each property can have its own set of activities and updates associated with it. Further, multiple real estate agents can use the system 102 to manage different properties or work collaboratively on the same properties. The system 102 is designed to accommodate the input and updates from multiple agents, allowing for efficient teamwork and coordination. The system 102 is capable of processing and reflecting these activities in real time. For example, if an agent lists a property, this information is immediately available to potential clients who are using the system 102.
In one embodiment, the system 102 is configured to classify the received activities into one of a general activity, a financial activity, or a legal activity. In this embodiment, the system 102 is designed to classify the activities received from real estate agents into one of three categories: general activities, financial activities, or legal activities. General activities are activities that are not directly related to financial or legal aspects of real estate transactions. General activities may include tasks like property listing, updating property details, scheduling viewings, responding to client inquiries, or any other non-financial or non-legal actions that are part of property management. Financial activities pertain to actions involving money and financial transactions related to real estate properties. This could include activities like setting or changing property prices, processing payments, managing rental income, tracking expenses, and other financial transactions or operations. Legal activities involve actions that have a legal or contractual dimension. This may include tasks related to the creation or modification of real estate contracts, handling legal documents, ensuring compliance with local real estate laws and regulations, and any other activities that have a legal aspect. The classification of activities into these categories can serve various purposes. It helps organize and categorize the activities, making it easier for real estate agents, clients, and the system 102 itself to manage and track different types of actions. By identifying legal activities, the system 102 can help ensure that all legal and regulatory requirements are met during real estate transactions. The system 102 can use the classification to assist with financial tracking, making it easier to manage and account for financial aspects of property management. It allows for the generation of reports and analytics related to each category of activities, providing valuable insights for decision-making and auditing purposes. This classification can enhance the efficiency of the real estate management system 102 by streamlining operations, ensuring compliance, and providing a clear structure for managing various types of activities in the real estate industry.
In one embodiment, the system 102 is configured to generate a genact timeline, a finact timeline, and a legact timeline based respectively on the general activity, the financial activity and the legal activity, wherein the finact timeline represents a financial outcome of the financial activity with respect to time, the legact timeline represents a legal outcome of the legal activity with respect to time, and wherein the genact timeline represents an outcome other than a financial or legal outcome of the general activity with respect to time. In this embodiment, the system 102 is designed to generate three distinct timelines based on the classification of activities: a genact timeline, a finact timeline, and a legact timeline. Each of these timelines serves a specific purpose. The genact timeline (General Activity Timeline) represents the outcomes of general activities that are not directly tied to financial or legal aspects. It captures the effects of general actions related to property management, such as property listings, viewings, and client interactions. The genact timeline tracks how these activities impact the overall management and status of the properties over time. The finact timeline (Financial Activity Timeline) focuses on the financial outcomes of financial activities. It provides a record of financial changes over time, including income and expenses related to real estate properties. This timeline can be crucial for financial management, budgeting, and forecasting, as it allows stakeholders to see how financial activities affect the bottom line. The legact timeline (Legal Activity Timeline) is dedicated to tracking the legal outcomes of legal activities. It records the progress and outcomes of legal actions, which are typically associated with contracts, regulatory compliance, and legal documentation. The timelines can help real estate agents, property managers, and clients make informed decisions based on the historical data of each activity type.
In one embodiment, the system 102 is configured to generate a reward index 420 (FIG. 4) for the one or more agents based on at least one of the genact timeline, the finact timeline, and the legact timeline. In this embodiment, the system 102 is designed to calculate a reward index for one or more agents based on the information contained in at least one of the genact timeline, finact timeline, or legact timeline. The reward index 420 is a metric used to evaluate and potentially reward the performance of real estate agents. The system 102 uses the data from the specified timeline(s) to assess the performance of one or more real estate agents. Depending on the timeline selected, the performance evaluation may be focused on general activities, financial activities, or legal activities. The specific criteria and metrics for performance evaluation can vary but may include factors like the number of properties listed or sold, the financial performance of properties, compliance with legal requirements, or other relevant performance indicators. Based on the performance evaluation, the system 102 determines and generates the reward index 420. The reward index 420 can be a numerical score or rating that reflects the agent's performance in the selected area(s). It might also consider the agent's overall contribution to the real estate management system 102. The reward index 420 can be used to determine incentives or rewards for agents. This could include financial bonuses, recognition, promotions, or other forms of motivation to encourage agents to perform well in their roles. The reward index 420 and associated feedback can also be used as a basis for providing constructive feedback to agents, helping them understand their strengths and areas for improvement. By generating the reward index 420 based on the timelines, the system 102 aims to incentivize and reward real estate agents for their contributions and encourage them to excel in their respective areas of responsibility.
In one embodiment, the present invention provides a computer-based system 102 and corresponding method 400 for real-time real estate management. The system 102 comprises a processor 302 communicatively coupled to a memory 310, the memory 310 containing computer readable instructions, the processor 302 capable of executing the instructions stored in the memory 310, the processor 302 executing the instructions for receiving activities related to one or more real estate properties from one or more real estate agents on a real estate management system (102). The received activities are classified into one of a general activity (404), a financial activity (406), or a legal activity (408). A genact timeline (414), a finact timeline (416), and a legact timeline (418) are generated based respectively on the general activity, the financial activity and the legal activity, wherein the finact timeline represents a financial outcome of the financial activity with respect to time, the legact timeline represents a legal outcome of the legal activity with respect to time, and wherein the genact timeline represents an outcome other than a financial or legal outcome of the general activity with respect to time. A reward index (420) generated for the one or more agents based on at least one of the genact timeline, the finact timeline, and the legact timeline. The received activities comprise determining in real time, identity of a person as a real estate agent or as a client. The received activities comprise determining an agent-to-agent or an agent-client call within the system. The received activities comprise tracking a property inventory of an agent on a map for selected a location. The received activities comprise tracking real-time activities as timelines or generation of a property passbook with expenses of visit and exact status of property on daily basis. The received activities comprise displaying profitable real-time average value of property according to a location for a real estate agent based on analysis of information in a data store. The received activities comprise providing a real estate agent with one or more documents in one or more formats for legal purposes and providing prompts to edit and complete the one or more documentation. The received activities comprise listing of a property publicly on the system. The received activities comprise generating agent specific search engine optimized marketable webpage, visiting card, leaflet or pamphlet of single listing property, and a brochure of all listed properties. The received activities comprise activating or deactivating sub-profiles for employees of the registered agent. The received activities comprise determination of a current price using one or more artificial intelligence or machine learning techniques based on a location and a size of a real estate property. The legact timeline comprises a record of one or more legal activities required to be performed and actually performed with respect to time and every breach of legal threshold of time or fees and, a recommended solution for every breach with time thresholds.
FIG. 2 is a block diagram illustrating the system 102 for real estate management, according to an embodiment of the present invention. The system 102 may include a system core 200 communicatively coupled to a data store 206 via the Application Programming Interface (API) module 202 and via a communication pathway 204. The system core 200 is the central and essential part of the real estate management system 102. It encompasses the core functionalities, algorithms, and software that drive the entire system 102. It's the heart of the system 102 and is responsible for processing and managing data, user interactions, and various system 102 operations.
The data store 206 is where the system 102 stores and manages the data used by the system 102. This includes information about real estate properties, client records, transaction history, activity timelines, and more. The data store 206 can be a database or a data management system that allows for efficient storage and retrieval of data. In one embodiment, the data store 206 includes an agent profile database 208, a client profile database 210, an activity database 212 and a property database 214. In this embodiment, the data store 206, is structured to include several distinct databases, each serving a specific purpose. The database 208 is dedicated to storing information about real estate agents who use the system 102. It typically includes details such as agent names, contact information, professional credentials, performance history, and other relevant profile information. Agent profiles are essential for tracking and managing the activities and performance of individual agents. The client profile database 210 is designed to store information about clients who are interested in real estate properties managed by the system 102. The database 210 may contain client names, contact details, preferences, transaction history, and any other relevant information that helps real estate agents provide tailored services to clients. The activity database 212 is used to record and store data related to the activities performed by real estate agents. The database 212 can include entries for property listings, updates, client interactions, viewing appointments, and other actions that agents take in managing properties. The activity database 212 is essential for creating and maintaining the genact timeline 414, finact timeline 416, and legact 418 timelines, as well as for performance evaluation. The property database 214 is a repository for information about the real estate properties being managed by the system 102. This includes property details, such as location, features, images, pricing, and transaction history. It's a central hub for managing property listings and ensuring that accurate, up-to-date information is available to clients and agents. The structured data store 206, with separate databases for agents, clients, activities, and properties, allows for efficient data management, retrieval, and analysis. It supports the system's core functions, including real-time property management, classification of activities, generation of timelines, and the calculation of reward indices.
In one embodiment, one or more of the databases of the data store 206 may be placed external to the system 102 and made available via a communication network. Instead of storing all data locally within the system 102, some databases are hosted on external servers or cloud-based platforms. These databases can be managed by third-party providers like Amazon Web Services (AWS)®, Microsoft® Azure®, or Google® Cloud. Access to these external databases is made possible through a communication network, which can be the internet or a private network. This network connectivity allows the system 102 to read and write data to these external databases in real time. Hosting databases externally can offer benefits in terms of scalability, as resources can be allocated dynamically as needed. It also provides redundancy and data backup, ensuring data integrity and availability. By placing databases external to the system 102, authorized users, such as real estate agents and clients, can access the data from anywhere with an internet connection, providing flexibility and accessibility.
The API module 202 is software component that enables communication and data exchange between different parts of the system 102. It acts as a bridge that allows the system core 200 to interact with the data store 206. The API module 202 defines the rules and protocols for how data can be requested, sent, and received, ensuring that the system core 200 can access and manipulate the data within the data store 206. The communication pathway 204 refers to the means by which data is transmitted between the system core 200, the API module 202, and the data store 206. This can involve network connections, protocols, and data transfer methods that enable seamless and secure communication.
In practical terms, this architecture allows the system core 200 to interact with and retrieve data from the data store 106 using the API module 202 and the communication pathway 204. This design enables the system 102 to access and update information in the data store 206, which is critical for the real-time management of real estate properties, the classification of activities, the generation of timelines, and the calculation of reward indices, as mentioned in previous descriptions. Overall, this architecture is fundamental for the system's functionality, as it facilitates data management, analysis, and communication within the real estate management system 102.
FIG. 3 is a block diagram illustrating the system core 200 of the system 102 for real estate management, according to an embodiment of the present invention. The system core 200 may include various hardware, software and firmware components. In one embodiment, a processor 302, a memory 310, an input / output sub-system 304, a communication module 308, and a display 306 communicatively interconnected with one another. The memory 310 may include data and instructions for general purpose and for real-time management of real estate properties.
In one embodiment, the system 102 is a computer-based system for real-time real estate management. The system 102 includes the processor 302 communicatively coupled to the memory 310, the memory 310 containing computer readable instructions, and the processor 302 capable of executing the instructions stored in the memory 310. The system 102 includes a central processing unit (CPU) or processor 302, which is the hardware component responsible for executing instructions and performing computations. In this context, the processor 302 plays a central role in running the software that manages real estate activities and data. The system 102 is equipped with memory, typically RAM (Random Access Memory), which stores computer-readable instructions. These instructions are part of the software that defines the system's operations and functions. The memory 310 contains computer-readable instructions, which are essentially lines of code and software programs that provide the system 102 with its functionality. These instructions define how the system 102 processes data, interacts with users, manages real estate activities, and performs other tasks related to real estate management. The processor 302 is capable of executing the instructions stored in the memory 310. The processor 302 reads and processes the instructions to perform the tasks and operations specified by the software. The processor 302 and the memory 310 work in tandem to execute software instructions, enabling real-time real estate management. The software is responsible for functions like data storage, activity classification, timeline generation, performance evaluation, and any other operations necessary for efficient real estate property management.
The input / output subsystem 304 of the system core 200 may interact with the processor 302 and the memory 310. The subsystem 304 facilitates communication between external devices and the central processing unit (CPU) along with memory. The subsystem 304 manages input devices such as keyboards, mice, touchscreens, and sensors. It receives input signals from these devices and sends them to the CPU for processing. Similarly, the subsystem controls output devices like displays, printers, speakers, and storage media. It receives data from the CPU or memory and transmits it to these devices for presentation or storage. The subsystem 304 interacts with the processor (CPU) by providing a mechanism for data transfer between the CPU and input/output devices. When the CPU needs to read data from or write data to an external device, it communicates with the subsystem 304. The subsystem 304 may also interact with the system's memory (RAM). This interaction can involve the temporary storage of data being transferred between the CPU and I/O devices to facilitate data processing. The subsystem 304 often employs I/O controllers or interfaces for specific device types. These controllers manage low-level device interactions, ensuring that the CPU and memory can communicate effectively with a wide range of hardware. The subsystem 304 may use data buffers to temporarily hold data in transit. This buffering helps in accommodating variations in data transfer rates between devices and the CPU. The subsystem 304 may handle interrupts, employ device drivers to interact with specific hardware, and may implement communication protocols to ensure compatibility with various devices.
The display 306 may be connected to the subsystem 304. The display 306 may be of various types and capabilities and may display data, charts, and the timelines. The display 306 can be of various types, including monitors, screens, or other visual output devices. The type and size of the display can vary, and it can be selected to meet the specific needs of the system 102. Depending on the display's capabilities, it may support different resolutions, color depths, and technologies (e.g., LCD, LED, OLED, or touchscreen). The display 306 is used to present data to users in a visual format. This data can include information related to real estate properties, client profiles, agent performance, financial data, legal information, and more. Data is typically presented through graphical user interfaces (GUIs). The display 306 is capable of rendering charts, graphs, and visual representations of data. This is particularly useful for displaying trends, financial analyses, and timelines related to real estate activities. Timelines generated by the system 102, such as genact, finAct, and legact timelines, can be displayed on the screen. Users can view and interact with these timelines to gain insights into real estate activities and outcomes. The display may support interactive features, allowing users to click, drag, zoom, or perform other actions to manipulate and explore data and timelines. The display 306 presents the system's user interface, including buttons, menus, forms, and other elements that enable users to navigate and interact with the system 102. System-generated notifications, such as alerts about matched properties or new client inquiries, can be displayed on the screen to keep users informed 102. The display 306 may include accessibility features to accommodate users with disabilities, such as screen readers, high-contrast modes, and voice commands. In some configurations, the system 102 may support multiple displays, allowing users to extend their workspace and view different types of information simultaneously.
The communication module 308 may be a central hub for handling wired / wireless communications with external systems / devices and among internal components of the system 102. For wired communication, this can include Ethernet, USB, and other physical connections. For wireless communication, it encompasses Wi-Fi, Bluetooth, cellular networks, and more. The module 308 enables integration with various external devices and sensors, such as IoT (Internet of Things) devices, real estate listing databases, payment gateways, and property management software. This integration allows the system 102 to collect data and exchange information with these external sources. The module 308 manages the transfer of data between modules within the system 102. For instance, data from the input / output subsystem 304, the processor 302, and the memory 310 is efficiently communicated to support system 102 operations. The module 308 supports real-time communication to ensure that data and information are delivered and received promptly. This is particularly important for features like instant messaging, notifications, and updates. It routes messages and data to the appropriate recipients or components within the system. This is crucial for ensuring that data is directed to the intended destination. The communication module 308 is integral to the overall functionality of the system 102, as it facilitates data exchange, device integration, and external communication, contributing to the system's ability to manage real estate properties in real-time and provide a seamless user experience.
In one embodiment, the memory 310 of the system core 200 includes specific modules / components for carrying out specific tasks of the system core 200. The memory 310 may include a profile module 312, a property module 314, an activity module 316, a reward module 318, a classifier module 320, a timeline module 322, a genact module 324, a finact module 326, and a legact module 328. The memory may further include a UI / UX module 330, a data module 332, and an AI / ML module 334.
The profile module 312 handles the management of agent and client profiles. It may store and retrieve information about real estate agents and clients, including their contact details, preferences, and performance history. The profile module 312 is an essential component within the real-time real estate management system 102 responsible for managing agent and client profiles. The profile module 312 is capable of storing and retrieving information related to real estate agents, including agents' names, phone numbers, email addresses, and office locations, professional credentials such as information about their licenses, certifications, and affiliations, performance history such as records of their past transactions, listings, and client interactions, personal information that is any other relevant personal data that can assist in managing their profiles. The profile module 312 also manages client profiles. The profile module 312 may manage client contact information such as clients' names, contact numbers, email addresses, and preferred methods of communication, client preferences such as details about their property preferences, budget, location, and specific requirements, client transaction history, that is records of properties they have shown interest in, viewed, or transactions they've completed, and personal data, that is any information that helps real estate agents provide a personalized experience. The profile module 312 facilitates the secure storage of this profile information in the system's data store 206. The profile module 312 also allows authorized users to retrieve and update this information as needed. In one embodiment, the profile module 312 may also handle user authentication. This ensures that only authorized individuals (agents and clients) can access and modify their respective profiles and interact with the system 102. The profile module 312 is responsible for user administration, which includes adding new agents or clients, modifying existing profiles, and deactivating or removing profiles when necessary.
The property module 314 is responsible for managing information related to real estate properties. The property module 314 stores property details such as location, features, images, pricing, and transaction history. The property module 314 is responsible for storing and organizing data about real estate properties. This information includes details about each property listed in the system 102. The property module 314 maintains comprehensive information about each property, such as location, the property's address, including city, state, and zip code; features, that is descriptions of the property's characteristics, such as the number of bedrooms, bathrooms, square footage, and any unique features or amenities; images, that is, images and visual media related to the property, which may include photos, floor plans, and virtual tours; pricing, that is current and historical pricing information for the property, including the listing price, price changes, and any negotiations; transaction history, that is, a record of all transactions and activities related to the property, including when it was listed, viewed, and any offers or sales; status updates. The property module 314 can be used to update the status of properties, indicating whether they are available for sale, rent, or lease, or if they are already sold or rented. The property module 314 also tracks the time on the market. The property module 314 provides tools to search for and filter properties based on criteria like location, price range, property type, and features, allowing users to find properties that match their preferences. Authorized users, including real estate agents, can access and manage property information through The property module 314. They can add new property listings, update existing listings, or remove listings when properties are no longer available. Property details stored in the property module 314 can be easily communicated to clients, allowing them to view properties of interest and make informed decisions. The property module 314 may also support data analysis and reporting, helping agents and clients make informed decisions based on property data and trends. By effectively managing property information, the property module 314 ensures that accurate and up-to-date details are available to both agents and clients, making the real estate management process more efficient and improving the user experience.
The activity module 316 manages the recording and storage of data related to activities performed by real estate agents, including property listings, updates, client interactions, and viewing appointments. The activity module 316 is a crucial component in the real-time real estate management system 102, responsible for recording and storing data related to various activities carried out by real estate agents. The activity module 316 allows real estate agents to record various activities they perform during property management. These activities can include, but are not limited to property listings, that is recording details of properties available for sale or rent, including property features, pricing, and availability; updates, that is documenting any changes or updates to property listings, such as price adjustments, property descriptions, or availability status; client Interactions, that is logging interactions with clients, including inquiries, responses to client queries, and communication regarding property viewings or offers; viewing appointments, that is scheduling and tracking property viewing appointments for clients and maintaining a history of these appointments. The activity module 316 records each activity with a timestamp, allowing for the creation of activity timelines and tracking changes over time. Activity data is securely stored in the system's data store 206, ensuring that a complete record of all interactions and property-related actions is maintained. To maintain data integrity and privacy, the activity module 316 typically includes user authentication, ensuring that only authorized agents can record or access their activities. Data recorded in the activity module 316 can be used to evaluate the performance of real estate agents. For example, it can provide insights into how active an agent is, how effectively they respond to client inquiries, and how frequently they update property listings. Real estate agents can use the activity module 316 to collaborate and coordinate efforts, especially when multiple agents are working on the same property or client inquiries. The system 102 can generate notifications or alerts for agents based on specific activities, such as when a client schedules a viewing or when a property status change. The recorded data can be used to generate reports and perform data analysis, which can help improve the decision-making process and overall efficiency of the real estate management system 102. The activity module 316 is essential for maintaining an accurate and comprehensive record of agent activities, which is valuable for evaluating agent performance, ensuring responsiveness to client needs, and facilitating effective property management.
The classifier module 320 is involved in categorizing activities into different types, such as general, financial, or legal, based on the nature of the activity. The classifier module 320 is a critical component in the real-time real estate management system 102, and its primary function is to categorize activities into different types based on the nature of the activity. The primary role of the classifier module 320 is to categorize various activities performed by real estate agents into distinct types. These categories typically include general activities, that is, activities that are not directly related to financial or legal aspects of real estate transactions. Examples include property listings, updates, client interactions, and viewing appointments. Financial activities that involve financial transactions or financial management aspects of real estate, such as setting or changing property prices, processing payments, and managing rental income. Legal activities with a legal or contractual dimension, which may include creating or modifying real estate contracts, handling legal documents, and ensuring compliance with local real estate laws and regulations. The classifier module 320 determines the category of an activity by analyzing its nature and characteristics. This analysis may involve keyword recognition, context, and specific data points associated with the activity. Activities are classified in real time as they are recorded within the system 102, ensuring that the categorization process is up to date and aligned with the most recent actions of real estate agents. The categorized activities are organized in a structured manner, allowing for easy retrieval, analysis, and presentation to users. Depending on the system's capabilities, the classifier module 320 may use automation and machine learning techniques to continuously improve its accuracy in categorizing activities. In some embodiments, users may have the ability to customize or validate the categorization of activities, providing feedback to refine the classification process. By categorizing activities into different types, the classifier module 320 enhances the organization and management of real estate-related data, making it easier for real estate agents, clients, and the system to track and understand various aspects of property management, financial transactions, and legal compliance.
The timeline module 322 is responsible for generating timelines based on the classified activities. It creates timelines for general activities, financial activities, and legal activities. The timeline module 322 is a vital component within the real-time real estate management system 102, and its primary role is to create timelines based on the classified activities, providing insights and historical data representation for various aspects of real estate management. The primary function of the timeline module 322 is to create chronological timelines for different types of activities. It does this based on the classifications made by the classifier module 320, which categorizes activities into general, financial, or legal types. The timeline module 322 creates the genact timeline 314, which is dedicated to general activities. The genact timeline 314 provides a visual representation of the sequence and timing of non-financial and non-legal activities, such as property listings, client interactions, and viewing appointments. For financial activities, the timeline module 322 generates the finact timeline 416. The finact timeline 416 displays the financial outcomes of various activities over time, including changes in property prices, payments received, and other financial transactions. Legal activities are documented in the legact timeline 418. This timeline 418 records the legal outcomes of actions taken during real estate transactions, including the creation and modification of contracts, compliance with legal requirements, and the handling of legal documents. Each event or activity recorded in the timelines 414-418 is associated with a timestamp, allowing users to track when specific events occurred. This feature helps in understanding the historical sequence of activities and their impact on properties and transactions. The generated timelines 414-418 are typically accessible to authorized users, such as real estate agents, clients, or system administrators, providing valuable insights into the real estate management process. Timelines 414-418 generated by timeline module 322 can be used for performance evaluation, providing a historical record of agent and property-related activities. This can assist in assessing agent performance and identifying trends or patterns. The timeline module 322 often incorporates data visualization techniques, such as charts, graphs, and interactive displays, to make the timelines 414-418 visually informative and easy to interpret. The timelines 414-418 generated can be used for reporting and data analysis, enabling stakeholders to make informed decisions and assess the impact of activities on property management and transactions. The timeline module 322 enhances the system's capability to provide historical context and insights into real estate activities and transactions, helping users better understand and manage the real estate management process.
The genact module 324 is used to manage and analyze general activities, as well as generate the genact timeline 414. The genact module 324 is a specific component within the real-time real estate management system 102 that is dedicated to managing and analyzing general activities. It plays a central role in generating the genact timeline 414, which represents the chronological sequence of non-financial and non-legal activities related to property management. The genact module 324 is responsible for managing general activities performed by real estate agents. These activities include a wide range of tasks such as property listings and updates, client interactions and communication, scheduling and tracking property viewings, recording property maintenance and repairs, managing property marketing and advertising. The genact module 324 stores data related to general activities in the system's data store, ensuring that a complete record of these activities is maintained. The genact module 324 may provide tools and functionality for real estate agents and administrators to analyze the general activities they have conducted. This can include tracking the number of property listings, response times to client inquiries, and other key performance indicators. The genact module 324 plays a key role in generating the genact timeline 414. This timeline visually represents the historical sequence of general activities, providing a clear and organized record of the actions and events related to property management over time. Each activity recorded in the genact timeline 414 is typically associated with a timestamp, allowing users to understand when specific events occurred. Authorized users, such as real estate agents and clients, can access the genact timeline to view and understand the historical context of general activities related to properties. The genact timeline 414 can be used for reporting and data analysis, offering insights into agent performance, trends in property management, and client interactions. By tracking and analyzing general activities, the genact module 324 contributes to the evaluation of real estate agent performance, helping to identify areas for improvement and recognizing successful practices. The genact module 324 is a fundamental component for managing general activities in the real estate management system. It ensures that non-financial and non-legal aspects of property management are documented, analyzed, and presented in a clear and organized manner through the genact timeline 414.
The finact module 326 is focused on the management and analysis of financial activities and the creation of the finact timeline 416, which represents the financial outcomes of these activities over time. The finact module 326 is a specialized component within the real-time real estate management system 102, with a primary focus on the management and analysis of financial activities. The finact module 326 is responsible for creating and maintaining the finact timeline 416, which represents the financial outcomes of various financial activities related to property management over time. The finact module 326 is responsible for managing financial activities related to real estate properties. These activities typically involve financial transactions and operations, such as setting or adjusting property prices, processing payments and invoices, managing rental income and expenses, handling financial agreements and contracts, recording financial outcomes of property sales and rentals. The finact module 326 stores data related to financial activities in the system's data store 206, ensuring that a complete and accurate record of financial transactions is maintained. The finact module 326 provides tools and functionality for real estate agents and administrators to analyze financial activities. This can include tracking revenue, expenses, profits, and other financial metrics related to property management. The finact module 326 plays a central role in generating the finact timeline 416. This timeline 416 visually represents the historical sequence of financial activities, providing insights into the financial outcomes and performance metrics over time. Each financial activity recorded in the finact timeline 416 is typically associated with a timestamp, allowing users to understand when specific financial transactions occurred. Authorized users, such as real estate agents and clients, can access the finact timeline 416 to review and understand the historical context of financial activities related to properties. The finact timeline 416 can be used for reporting and data analysis, offering insights into financial performance, profitability, and trends in property-related financial activities. By tracking and analyzing financial activities, the finact module 326 contributes to the evaluation of financial performance, helping to identify areas for improvement and assess the financial health of property management operations. The finact module 326 is a critical component for managing and monitoring the financial aspects of real estate property management. It ensures that financial transactions are recorded, analyzed, and presented in a structured and organized manner through the finact timeline 416, allowing for informed decision-making and financial performance evaluation.
The legact module 328 is responsible for handling legal activities, ensuring legal compliance, and generating the legact timeline 418, which represents the legal outcomes of these activities over time. The legact module 328 is a specialized component within the real-time real estate management system 102, with a primary focus on managing legal activities and ensuring legal compliance. The legact module 328 is responsible for creating and maintaining the legact timeline 418, which represents the legal outcomes of various legal activities related to property management over time. The legact module 328 is responsible for managing legal activities related to real estate properties. These activities typically involve legal transactions, contractual obligations, and compliance with legal requirements, such as creating, modifying, and managing real estate contracts; ensuring compliance with local real estate laws and regulations; handling legal documents and records; coordinating legal activities with government authorities and agencies. The legact module 328 stores data related to legal activities in the system's data store 206, ensuring that a complete and accurate record of legal transactions and compliance activities is maintained. The legact module 328 may include features and tools to monitor and ensure legal compliance throughout the property management process, reducing legal risks and ensuring that all necessary legal steps are taken. The legact module 328 plays a central role in generating the legact timeline 418. This timeline 418 visually represents the historical sequence of legal activities, providing insights into the legal outcomes and compliance measures over time. Each legal activity recorded in the legact timeline 418 is typically associated with a timestamp, allowing users to understand when specific legal actions or compliance activities occurred. Authorized users, such as real estate agents, legal counsel, and clients, can access the legact timeline 418 to review and understand the historical context of legal activities and compliance-related activities related to properties. The legact timeline 418 can be used for reporting and data analysis, offering insights into legal compliance, adherence to regulatory requirements, and the resolution of legal issues. By tracking and analyzing legal activities and compliance measures, the legact module 328 contributes to the evaluation of legal performance, helping to ensure that all legal requirements are met during property management and transactions. The legact module 328 is a critical component for managing legal aspects and compliance within real estate property management. The legact module 328 ensures that legal activities and compliance measures are documented, analyzed, and presented in a structured and organized manner through the legact timeline 418, helping stakeholders make informed legal and compliance decisions.
The reward module 318 calculates a reward index 420 for the real estate agents based on their performance, which may be derived from the data in the timelines 414-418, or a combination of them. The reward module 318 is an important component within the real-time real estate management system 102, and its primary function is to calculate a reward index for real estate agents based on their performance. This reward index 420 is typically derived from data collected from various parts of the system 102, including the genact, finact, or legact timelines 414-418, or a combination of them. The reward module 318 is responsible for evaluating the performance of real estate agents. The reward module 318 assesses how effectively agents have carried out their duties and responsibilities in property management and client interactions. The reward module 318 collects performance data from different sources within the system 102, including the genact, finact, and legact timelines 414-418. The reward module 318 may also consider data from other modules, such as the activity module 316, the property module 314, or client feedback. The reward index 420 is calculated based on specific performance metrics and criteria. These metrics can vary but often include number of successful property transactions; responsiveness to client inquiries and requests; efficiency in listing and marketing properties; adherence to legal and compliance requirements, financial performance, including revenue and profitability; overall client satisfaction and feedback. The system 102 may allow for customization of the reward index calculation, enabling administrators to assign different weights and importance to various performance metrics based on the organization's goals and priorities. The reward module 318 analyzes the collected performance data and applies the defined metrics and criteria to calculate the reward index 420 for each, some or all real estate agents. The calculated reward index 420 is typically presented to real estate agents and other stakeholders. This information can serve as an incentive for agents to improve their performance and achieve specific goals. The reward module 318 may generate reports that provide detailed insights into individual agent performance, helping agents understand their strengths and areas for improvement. The reward index 420 can also be used to design incentive programs, bonus structures, or recognition schemes for high-performing agents. The reward module 318 is a motivational and performance management tool that helps organizations recognize and reward real estate agents for their contributions and encourage improved performance. It provides a clear and data-driven way to assess and incentivize agents, ultimately enhancing the quality of service provided to clients and optimizing the real estate management process.
The UI/UX (user interface/user experience) module 330 is responsible for the design and functionality of the system's user interface. The UI/UX module 330 ensures that agents, clients, and users can interact with the system 102 in an intuitive and user-friendly manner. The UI/UX module 330 is a fundamental component within the real-time real estate management system 102, and its primary role is to manage the user interface (UI) and user experience (UX) aspects of the system 102. The UI/UX module 330 is responsible for the design and layout of the system's user interface. It focuses on creating a visually appealing and user-friendly interface that is easy to navigate. The UI/UX module 330 is dedicated to improving the overall user experience. UI/UX module 330 aims to make interactions with the system 102 efficient, enjoyable, and productive for both real estate agents and clients. The UI/UX module 330 ensures that the system's interface is intuitive and user-friendly, requiring minimal training for users to understand and use the system 102 effectively. The UI/UX module 330 considers accessibility principles to ensure that users with disabilities can use the system 102 comfortably. This includes features like screen reader compatibility and keyboard navigation. The UI/UX module 330 may implement responsive design, allowing the system 102 to adapt to different screen sizes and devices, including desktop computers, tablets, and mobile phones. The UI/UX module 330 maintains consistency in design elements, layout, and navigation throughout the system. Consistency makes it easier for users to understand and use the system 102. The UI/UX module 330 incorporates mechanisms for users to provide feedback, report issues, and suggest improvements to enhance the system's usability. The UI/UX module 330 may include onboarding features that guide new users through the system's features and functionalities, helping them get started quickly. The UI/UX module 330 can tailor the user interface to different user roles, providing relevant features and information based on whether the user is an agent, client, or administrator. The UI/UX module 330 provides visual aesthetics, ensuring that the system's design aligns with the branding and aesthetics of the real estate agency or organization. The UI/UX module 330 focuses on streamlining user workflows, making it easy for agents to manage properties, communicate with clients, and perform other tasks efficiently. The UI/UX module 330 may conduct usability testing to gather user feedback and make iterative improvements to the interface. The UI/UX module 330 is crucial for ensuring that the real estate management system 102 is not only functional but also provides a pleasant and productive user experience. A well-designed and user-friendly interface can lead to higher user satisfaction, increased efficiency, and improved adoption of the system by both real estate agents and clients.
The data module 334 manages the communication with external databases (as previously mentioned) and ensures data is stored, retrieved, and updated efficiently. The data module 334 is a key component within the real-time real estate management system 102, and its primary responsibility is to manage data communication with external databases, as previously mentioned. The data module 334 ensures that data is stored, retrieved, and updated efficiently from these external databases. The data module 334 establishes and manages communication with external databases, which may include databases hosted on remote servers or cloud-based platforms. These external databases can include the agent profile database, client profile database, activity database, property database, and other relevant data sources. The data module 334 is responsible for retrieving data from external databases as needed. This includes fetching information related to agent profiles, client profiles, property details, activities, and other relevant data points. The data module 334 stores and manages data received from external databases in the system's local data store 206. It ensures that the data is organized and readily accessible within the system 102. The data module 334 facilitates the process of updating data in external databases when necessary. For example, when an agent's profile information changes, the data module 334 allows for the updated information to be sent back to the external agent profile database. Data synchronization mechanisms are often employed to ensure that the data stored in the local system remains consistent with the data in external databases. Changes made in one location are reflected in the other to maintain data accuracy. The data module 334 implements data security measures to protect the integrity and confidentiality of data during communication with external databases. This includes encryption, access controls, and authentication. Before updating external databases, the module may perform data validation to ensure that the information being sent is accurate, complete, and compliant with any database-specific requirements. The data module 334 is designed to optimize data retrieval and storage processes, ensuring that data access is efficient and responsive for system users. The data module 334 includes error-handling mechanisms to address issues that may arise during data communication, such as network connectivity problems or database unavailability. The data module 334 may implement backup and recovery strategies to safeguard data in the event of unexpected data loss or system failures. The data module 334 can be configured to handle data from various sources and scales effectively as the volume of data and database connections increase. By managing data communication with external databases, the data module 334 ensures that the real-time real estate management system 102 has access to up-to-date and accurate information, facilitating the efficient and effective operation of the system. This is particularly important in scenarios where data is distributed across multiple locations and needs to be synchronized in real time.
The artificial intelligence/machine learning (AI/ML) module 332 may incorporate advanced technologies to provide insights, predictions, or automated decision support based on the data and activities within the system 102. The AI/ML module 332 is a sophisticated component within the real-time real estate management system 102 that leverages advanced technologies to provide valuable insights, predictions, and automated decision support based on the data and activities within the system 102. The AI/ML module 332 can analyze large volumes of data from various sources within the system 102, including agent activities, property details, client interactions, and timelines. The AI/ML module 332 looks for patterns, trends, and correlations that may not be immediately apparent to human users. The AI/ML module 332 uses machine learning algorithms to make predictions about future events or outcomes, such as property demand trends, market fluctuations, or the likelihood of a successful property transaction. The AI/ML module 332 can provide personalized recommendations to real estate agents and clients. For example, it can suggest properties that match a client's preferences or advise agents on pricing strategies. The AI/ML module 332 can identify areas for performance improvement based on historical data. For real estate agents, this might mean suggesting better communication practices or more effective property marketing strategies. The AI/ML module 332 can automate certain tasks and decision-making processes. For instance, it can automate responses to routine client inquiries or initiate property updates based on market conditions. The AI/ML module 332 may incorporate NLP (Natural Language Processing) to analyze and understand textual data, such as client messages or property descriptions. This enables sentiment analysis and more effective client communication. The AI/ML module 332 can identify anomalies or unusual events within the system 102. For example, it can detect suspicious activities related to fraud or compliance issues. The AI/ML module 332 often includes data visualization tools to present insights and predictions in a user-friendly and easily interpretable manner, including charts, graphs, and reports. Machine learning models can adapt and improve over time as they are exposed to new data. This allows the system 102 to evolve and provide increasingly accurate insights and predictions. The AI/ML module 332 works in synergy with other modules, such as the classifier module 320, the timeline module 322, and the reward module 318, to enhance decision-making and system 102 functionality. The AI/ML module 332 can assist real estate agents and clients by providing information and recommendations in real time. It can answer questions, provide market updates, and offer guidance. The AI/ML module 332 significantly enhances the real-time real estate management system's 102 capabilities by leveraging data-driven insights and predictive analytics to support more informed decision-making and improve the overall efficiency and effectiveness of the system 102. It provides a competitive advantage by leveraging the power of artificial intelligence to benefit both agents and clients.
The modular organization of the system's memory 310 allows for a clear and structured approach to real-time real estate management. Each module handles specific aspects of the system's functionality, contributing to the efficiency and effectiveness of the overall system.
FIG. 4 is a data flow diagram illustrating a method 400 for real estate management, according to an embodiment of the present invention. The method 400 may start with identifying an activity 402 related to a real estate property on the real estate management system 102 performed by one or more agents. The classifier module 320 classifies the activity into one of a general activity 404, a financial activity 406 or a legal activity 408. A timeline module 322 generates genact timeline 414, the finact timeline 416 and legact timeline 418 based on the classified activities and data from agent profile 410 and client profile 412. The reward module 318 generates a reward index 420 based on at least one of the genact timeline 414, the finact timeline 416 and legact timeline 418.
FIG. 5 is a block diagram illustrating a dashboard for real estate management, according to an embodiment of the present invention. The dashboard 500 may include one or more sections or screen areas providing different views and functionalities to the user. In one embodiment, the dashboard 500 includes my profile 512 section. My profile 512 section may include a login / logout 516 button, a registration button 514, a rating / review 518 button, and a subscription 520 button. The login / logout 516 provides a means for users to log in or log out of their accounts. Logging in is typically required to access personalized features and data. When logged in, users can access their profiles, activity history, and other relevant information. Logging out ensures the security and privacy of the user's account when they are done using the system 102. The registration 514 allows new users to sign up for the real estate management system 102. Registration typically involves providing personal information, contact details, and possibly creating a user account. After registration, users can access the system's features and functionalities. The rating / review 518 is associated with rating and reviewing features. Users, especially clients, can use this button to rate and leave reviews for real estate agents, properties, or the system itself. Ratings and reviews are often essential for building trust and transparency in real estate transactions. The subscription 520 button is related to subscription or membership features. Users, especially real estate agents, might use this button to access premium features, services, or data within the system. Subscriptions can offer additional benefits and tools to enhance the user experience.
In one embodiment, the dashboard 500 includes a search 502 section, a feedback 504 section, a payment 506 section and a history 508 section. The search 502 is a fundamental component of the dashboard 500, allowing users to search for real estate properties based on various criteria. This section typically includes search filters, such as location, property type, price range, and other relevant parameters. Users can use this section to find properties that match their preferences and needs.
The feedback 504 provides a platform for users to submit feedback, comments, and suggestions about their experiences with the real estate management system 102. It is an essential feature for collecting user input and improving the system 102 based on user needs and preferences.
The payment 506 is associated with financial transactions related to real estate. Users can make payments, such as property down payments, rental fees, or service charges, through this section.
The history 508 offers users access to their historical activity and transaction data. This includes information about past property listings, property views, interactions with real estate agents, financial transactions, and other relevant historical data. It helps users track their previous actions and interactions within the system 102.
In one embodiment, the dashboard 500 includes a client management 510 section. The section allows real estate agents to access and update client information, including contact details, preferences, and property criteria. This information helps agents provide personalized services and property recommendations. It provides tools for agents to communicate with clients, including sending messages, scheduling property viewings, and responding to client inquiries. It may also include features for tracking and organizing client communications. The client management 510 section maintains a record of client interactions and history. Agents can review past communications, property viewings, and other activities related to specific clients, ensuring a personalized and informed approach. It may include a feedback collection feature that allows clients to rate and review their experiences with real estate agents and the properties they've interacted with. This feedback is valuable for continuous improvement and transparency. Some embodiments may offer client segmentation tools, allowing agents to categorize clients based on their preferences, needs, and status in the property search process. This helps agents tailor their services accordingly. The section can include features for matching clients with suitable properties based on their criteria. Agents can use this functionality to provide property recommendations and streamline the property search process. Clients may receive notifications or updates on new property listings, price changes, or other relevant information through this section. These notifications keep clients informed and engaged. The client management 510 may include document storage and management features, allowing agents and clients to upload and share important documents related to property transactions. Real estate agents can use this section to schedule tasks, appointments, and property viewings with clients. It helps in managing client interactions efficiently. The section may offer performance tracking tools for real estate agents to assess their interactions with clients, response times, and overall client satisfaction.
In one embodiment, the dashboard may include a buyer / tenant requirement 522 section. This section is dedicated to managing the specific requirements and preferences of individuals or entities looking to purchase or rent real estate properties. Users, such as potential buyers or tenants, can input their specific property requirements and preferences. This may include criteria such as location, property type, size, budget, and any other relevant details. The section uses the provided requirements to match users with properties in the system's database that meet their criteria. It generates a list of properties that align with the user's needs. Users can express their interest in specific properties by requesting property viewings or additional information directly through the section. This functionality streamlines the process of connecting users with suitable properties. The section may offer alerts and notifications for users. For example, when a property matching their criteria becomes available, users receive notifications to stay informed. Users can communicate with real estate agents or property owners through the section to discuss specific property listings, request additional details, or negotiate terms. Users may have the option to save their property searches and preferences for future reference, making it easier to revisit and update their property requirements. Users can review their historical property searches, viewing requests, and interactions with real estate professionals within the section. This provides a clear record of their engagement with the system 102. The section can include features for uploading and managing important documents, such as lease agreements or purchase contracts. Users may have the opportunity to provide feedback and ratings for real estate agents or property owners they've interacted with during the property search process. Some embodiments may offer customized property recommendations based on users' requirements and preferences, helping users discover properties that closely match their needs. The section serves as a user-friendly and organized platform for individuals or entities seeking real estate properties. It streamlines the property search process, improves communication with real estate professionals, and helps users find properties that align with their specific criteria. This feature enhances the overall user experience and supports successful property transactions.
In one embodiment, the dashboard 500 may include a seller / landlord inventory 524 section. This section is dedicated to managing and showcasing the properties that sellers or landlords have available for sale or rent. Sellers or landlords can list their available properties in this section. They input details about each property, such as location, property type, features, pricing, and property descriptions. The section allows sellers or landlords to manage their property listings. They can add new listings, update existing ones, mark properties as sold or rented, and remove listings that are no longer available. The section typically presents property listings in an organized and visually appealing manner. Users, including potential buyers or tenants, can browse and search for available properties based on their preferences. Property listings often include image galleries that display photos of the property's interior and exterior. High-quality images can significantly enhance the appeal of a property. Each property listing may include a detailed description that provides information about the property's features, specifications, and any unique selling points. Sellers or landlords can specify pricing details, including the asking price, rental rate, or any additional costs associated with the property. The section allows users, including potential buyers or tenants, to contact sellers or landlords directly to inquire about properties, request viewings, or negotiate terms. Sellers or landlords can track the history and activity related to their property listings. This includes viewing requests, inquiries, and interactions with potential buyers or tenants. Sellers or landlords can upload and manage essential documents related to their property listings, such as property deeds, lease agreements, or inspection reports. The section may allow users to provide feedback and ratings for sellers or landlords based on their interactions and experiences. Some embodiments may offer customized property recommendations for sellers or landlords to help optimize their property listings and pricing strategies. The section is an efficient and user-friendly platform for sellers and landlords to showcase their properties and connect with potential buyers or tenants. It streamlines property management, communication, and interactions within the real estate system 102, ultimately supporting successful property transactions.
In one embodiment, the system 102 may be provided as a mobile app (mobile software application). In this embodiment, the app is configured for user registration. For example, a real estate agent may get registered in the app by providing his name, mobile number, email address, and confirm their mobile number through a secure one-time password (OTP) verification process. Welcome email is sent to the agent on registered email address. Once registered, the agent can easily log in to the app using his registered mobile number and validating his identity through a quick OTP verification.
Upon successful login, the agent is greeted with a dynamic and informative dashboard 500. The dashboard 500 showcases comprehensive statistics related to sellers, landlords, buyers, tenants, and closed deals. This consolidated overview includes crucial metrics such as units, area, and prices.
The agent have complete access to his profile information. He can conveniently view and edit his details, including location, address, GST / Tax number, and property distance notification. For security purposes, the mobile number cannot be modified. If the registered agent wishes to delete his account, this feature is provided within profile section in app. Related changes will be emailed to dealer on registered email address.
To cater to various needs, the app offers flexible subscription plans. Agents can choose from monthly, quarterly, half-yearly, or yearly options. Prices for these plans may be made subject to change, ensuring the best value for money. In one embodiment, if the agent wants to change his subscription plan, then the new plan may be activated from next subscription period. If the agent deletes his account, then related payment subscription is cancelled. Related subscription, change in subscription, or cancellation of subscription will be emailed to the agent on his registered email address.
The app provides seamless payment process for the chosen subscription plan. Related payment invoice is emailed to the agent on his registered email address. Additionally, the app provides a comprehensive transaction history, offering a detailed overview of all past transactions. At any moment the agent can request for all previous transaction details to be shared on his registered email address.
The app provides effective management of clients by providing a dedicated screen for this purpose. Agents can view their existing clients and effortlessly add new ones, specifying their client type as buyers, sellers, landlords, or tenants. Adding a new client requires providing their name, email, mobile number, and client image. Furthermore, a user-friendly basic/advance search feature enables quick client retrieval based on name, mobile number, or client type.
Further, the system / app provides efficient modules to handle property requirements and inventory after adding clients. For buyers and tenants, essential property details like category, sub-category, and other key fields can be entered. Meanwhile, sellers and landlords can provide comprehensive property inventory, additionally including property images for added visibility. The app also presents a location-wise list of saved properties for easy reference. Furthermore, a user-friendly basic/advance search feature enables quick property requirement/inventory retrieval based on location, category, sub-category.
Further the agents can efficiently organize and oversee the requirements of buyers and tenants interested in purchasing or getting rented properties. Additionally, for sellers and landlords, the app streamlines the process of managing property listings and giving property on rent. A user-friendly basic and advance search feature empowers agents to quickly find relevant client and property inventories and property requirements within the app.
Registered agents can instantly share their suggestions and feedback to improve system / app features. Further, the Agent can rate the app on related app store and submit the review, so that other agents can read the reviews before downloading and installing the app.
The app may display visiting properties on a map with expenses. Displaying visiting properties on a map with associated expenses is a useful feature for real estate management system. This feature allows users, such as real estate agents or clients, to visualize properties they plan to visit and track associated expenses. Each property listing includes location information, typically in the form of latitude and longitude coordinates. This data is used to pinpoint the property's location on the map. The real estate management system 102 integrates with mapping services like Google Maps or Mapbox to display the properties on an interactive map. Users can select properties they plan to visit and add them to their visitation list. This action triggers the property's location to be displayed on the map. Users can also input and track expenses related to each property visit. Expenses may include transportation costs, meals, accommodation, or any other relevant expenditures. Each property location on the map is typically marked with a custom icon or marker to differentiate it from other locations. Clicking on a property marker on the map opens a pop-up window that displays property details, visitation schedule, and a summary of expenses associated with that visit. Some embodiments may offer route planning features that help users optimize their property visitation schedule based on the properties' locations and other factors. Users can categorize expenses by type, such as transportation, meals, or accommodations. This categorization helps in tracking and reporting expenses effectively. Users can generate reports summarizing their visitation expenses, making it easier for agents to account for expenses or for clients to understand the costs associated with property visits. Some embodiments may integrate with accounting software or export expense data in a format that can be easily imported into accounting tools for financial tracking and reporting. Changes made to the visitation schedule and expenses are often synchronized across the system, ensuring that all relevant parties have access to the most up-to-date information. This feature enhances the efficiency of property visit planning and expense management. It offers users a visual representation of the properties they plan to visit, helps in optimizing visitation routes, and provides a clear overview of expenses associated with each visit. This can be valuable for both real estate agents and clients, as it simplifies the property search and evaluation process.
In one embodiment, the app may manage clients as very important person (VIP) or spam. VIP clients receive priority treatment and personalized services. They may have dedicated agents or access to exclusive property listings. Agents are alerted when a VIP client contacts the agency, ensuring a quick response. Spam clients may be directed to a separate communication channel or automated responses to manage their inquiries more efficiently. Agents can avoid spending excessive time on clients who are unlikely to result in productive transactions. The dashboard 500, as previously mentioned, includes a section for managing clients. This section displays clients' categorization, allowing agents to filter and prioritize their interactions. Agents and administrators can periodically review client categorizations and adjust them based on ongoing interactions and feedback from the team. By managing clients as VIP or spam, real estate agencies can streamline their operations, allocate resources more effectively, and enhance client satisfaction for their most valuable customers. This categorization helps real estate professionals focus on clients who are more likely to lead to successful and profitable transactions while efficiently handling low-priority or spam inquiries.
In one embodiment, the app may manage property as wish list and/ or disputed property. Managing properties as wish list or disputed is another valuable feature for real estate management system 102. This feature allows users, such as clients or real estate agents, to categorize properties based on their status and level of interest. Wish List Properties are properties that clients or agents have a strong interest in and are considering for purchase or rental. They may meet the desired criteria and preferences of the user. Disputed Properties are properties that have raised concerns or disputes. Disputes could relate to issues like property condition, pricing disagreements, legal concerns, or other factors that require resolution. Users, including clients and real estate agents, can manually categorize properties as wish list or disputed through the system's interface. Some embodiments may use automated algorithms to categorize properties. For example, if a client has expressed a strong interest in a property by viewing it multiple times and requesting additional information, the system may automatically categorize it as a wish list property. Wish list properties are typically saved for future reference, and users may receive notifications if there are updates or changes to these properties. Real estate agents can focus on assisting clients with properties in their wish list, as these are more likely to lead to successful transactions. When a property is categorized as disputed, it triggers a process for dispute resolution. Users may be guided through steps to address concerns, negotiate terms, or seek assistance from a real estate agent. The dashboard 500 may provide a section for managing properties. Users can see the status of each property, including whether it's in the wish list or disputed category. Users can periodically review and adjust property categorizations based on ongoing interactions and developments. By managing properties as wish list or disputed, real estate clients and agents can effectively track and prioritize their property interests and concerns. This categorization helps streamline the property search and evaluation process, as well as the resolution of property-related disputes.
In one embodiment, the app may provide for document management. Document management is a critical feature for real estate management system 102. It involves the efficient organization, storage, retrieval, and sharing of various documents and files related to real estate properties and transactions. Real estate transactions involve a wide range of documents, including property deeds, contracts, lease agreements, inspection reports, property images, client information, legal documents, financial records, and more. The document management system can accommodate all these document types. Users, including real estate agents, clients, and administrators, can upload documents to the system. This is typically done by selecting the appropriate document type and providing a description or title. Documents are stored in a secure and organized manner within the system 102. They may be stored in a centralized repository accessible to authorized users. The system 102 may support version control, allowing users to upload updated versions of documents while retaining access to previous versions. This is useful for tracking changes in legal documents or contracts. Access to documents is controlled through permissions and roles. Only authorized users have access to specific documents, ensuring data security and compliance with privacy regulations. Users can search for documents using keywords, tags, document types, property names, or other criteria. Quick and efficient retrieval of documents is essential for real estate transactions. Users can preview documents before downloading them. This feature allows for quick assessment of document content. Documents can be shared with other users or parties involved in a real estate transaction. Secure sharing mechanisms ensure that sensitive information remains protected. Some embodiments may support digital signatures for contracts and agreements, streamlining the signing process without the need for physical documents. Documents with expiration dates, such as lease agreements, can trigger automated reminders for renewal or updates. An audit trail tracks document activity, including who accessed, edited, or shared a document and when these actions occurred. This is valuable for compliance and security. Document management systems can integrate with e-signature platforms, making it easy to electronically sign contracts and agreements. Document management systems often implement data backup and recovery mechanisms to safeguard against data loss. The system 102 may incorporate compliance features to ensure that documents are stored and managed in accordance with legal and industry regulations. Document management is a critical component of real estate management system 102 as it helps streamline transactions, ensure data security, and simplify the sharing of important documents in a real estate context. This feature is essential for managing the extensive paperwork and documentation associated with property sales, leases, and other real estate transactions.
In one embodiment, the app may display a timeline of activities from start of a deal to closure of the deal. The timeline begins with the initiation of a new real estate deal. This could be when a client expresses interest in a property or when a seller decides to list a property for sale or rent. The next step in the timeline is the selection of the property by the client or seller. This includes viewing different properties and eventually choosing one. Negotiations, including price discussions, offer submissions, counteroffers, and other terms and conditions, are a critical part of the timeline. Once the terms are agreed upon, the creation of a contract or agreement begins. This can include sales contracts, lease agreements, or other legal documents. Parties involved may conduct due diligence, including legal checks and financial assessments, to ensure that the deal is legally sound and financially feasible. Property inspections, including home inspections or property appraisals, are part of the process. These inspections help assess the property's condition and value. When all conditions are met, and both parties agree, the offer is accepted. This marks a significant milestone in the deal. The timeline then includes the closing process, which involves finalizing the deal, transferring ownership or occupancy, and fulfilling all legal and financial requirements. The deal is officially closed when all documents are signed, payments are made, and the property is transferred to the new owner or occupant. After the deal is closed, there may be post-closure activities, such as property handovers, moving in, or post-sale services for clients. The timeline is typically presented in a visual format, such as a Gantt chart or a chronological list of milestones. Users can view and interact with the timeline through the system's interface. Each milestone in the timeline can have a status indicator, showing whether it's completed, in progress, or pending. This allows users to track the progress of the deal. The system 102 may provide notifications and reminders to users involved in the deal, ensuring that they stay informed about upcoming milestones and deadlines. This timeline feature provides a comprehensive overview of the real estate deal's progress, making it easier for all parties involved to understand the status of the deal and what steps come next. It's a valuable tool for real estate agents, clients, and administrators to manage and monitor the various stages of a transaction.
In one embodiment, the app may provide a property passbook with earnings for agents. Agents have access to a dedicated earnings dashboard or passbook within the system 102. This dashboard provides a summarized view of their earnings and financial activities. The passbook tracks all financial transactions related to properties the agent has represented. This includes commissions earned from property sales or rentals. The system 102 automatically calculates agent commissions based on predefined commission rates or agreements. It considers factors such as property value, sale price, and the specific terms of the deal. Agents can access a transaction history that details each deal they've been involved in. This includes information about the property, client, deal value, and the earned commission. The passbook also provides information about the clients involved in each transaction, allowing agents to track their interactions and the source of their earnings. Agents can view a breakdown of their earnings, including the total commission earned, the distribution of earnings from various deals, and any bonuses or incentives. The passbook may display a timeline of earnings, showing when commissions were earned, when payments were received, and when deals were closed. The system 102 can send alerts and notifications to agents when they earn commissions or when payments are made. This keeps agents informed about their financial activities. The system 102 may integrate with payment processing systems to facilitate the direct transfer of commissions to the agent's bank account. In addition to earnings, the passbook may allow agents to track business expenses related to property representation, such as marketing costs or travel expenses. Agents can generate reports and analyse their earnings data over time. This can help them assess their performance and plan for future financial goals. Access to the passbook is typically secure, with login credentials and user roles to protect financial data.
In one embodiment, the app may provide in-system agent to agent calls. The system 102 maintains a directory of all registered agents, their profiles, and contact information. This directory is accessible to all agents within the system 102. Agents can initiate calls directly from the system's user interface. This can be done through a "Call" or "Connect" button within the agent's profile or during interactions with property listings and transactions. The system 102 typically supports both voice calls and video calls, providing flexibility for communication. Video calls allow face-to-face discussions, which can be particularly useful for property walkthroughs and virtual property showings. The system 102 keeps a record of call history for each agent, including details such as call duration, time and date, and the agents involved in the call. This history helps agents keep track of their interactions. The system 102 may display the availability status of each agent (e.g., available, busy, away) to help users determine when it's a suitable time to make a call. Agents can set their status based on their current workload or availability. Agents can schedule calls with other agents. The system 102 can send reminders and notifications when a scheduled call is approaching. The system 102 may support conference calls, allowing multiple agents to join a single call. This is helpful for group discussions and collaboration on complex deals. Screen sharing capabilities may be available for agents to share property details, documents, or presentations during a call. The system 102 may integrate with messaging features, allowing agents to send text messages or share documents alongside calls. The option to record calls can be valuable for reviewing important discussions, ensuring compliance, and maintaining a record of verbal agreements. The system 102 strives to provide high-quality audio and video calls to ensure clear communication. Call data is secured to protect the privacy of the agents and the sensitive information discussed during calls. Call data and call history can be integrated with the system's Customer Relationship Management (CRM) module, ensuring that all interactions are logged and accessible for reference. Agent-to-agent calls within the system 102 streamline communication and collaboration among real estate professionals, ultimately enhancing efficiency and the ability to close deals effectively. This feature fosters teamwork and enables agents to support each other throughout the real estate process. Similarly, in one embodiment, the app may provide for in-system calls among clients and agents.
In one embodiment, when an agent adds any requirement or inventory, a notification goes to related seller / buyer. Automated notifications to related sellers or buyers when an agent adds a new requirement or inventory are a helpful feature in a real estate management system 102. These notifications ensure that potential matches are quickly brought to the attention of the relevant parties. When an agent adds a new property requirement (e.g., a buyer looking for a specific type of property) or a new inventory listing (e.g., a property available for sale or rent), they input the details into the system. This includes property specifics, client preferences, price range, location, and any other relevant criteria. The system 102 checks the criteria of the new requirement or inventory against existing property listings and client profiles in the database. If there are potential matches based on the criteria, the system 102 generates a list of matched properties or clients. The system 102 creates notifications for both the agent who added the requirement or inventory and the related sellers or buyers. These notifications may include property details, client preferences, and a link to the matching property or requirement. The agent who added the requirement or inventory receives a notification indicating that potential matches have been found. This allows them to review and manage these matches. The related sellers or buyers who have properties or requirements that match the new listing or requirement also receive notifications. These notifications inform them of the potential fit and invite them to review the new addition. Sellers or buyers who receive notifications can review the details of the new requirement or inventory. They can choose to respond if they believe there is a good fit or express interest. The system 102 may provide communication options within the notification, allowing related sellers or buyers to initiate contact with the agent who added the requirement or inventory. Notifications typically have status indicators, such as "new," "viewed," or "responded," to help agents and related sellers/buyers track their interactions. The system 102 ensures that notifications are delivered in real-time or with minimal delay to facilitate prompt responses. This feature streamlines the property matching process, helping agents quickly connect clients with suitable properties and vice versa. It fosters efficient communication and engagement among real estate professionals, buyers, and sellers, ultimately increasing the likelihood of successful property transactions.
In one embodiment, an agent can list a real estate property as public on the system 102 for expediting finding a client. Allowing real estate agents to list a property as public in the system is a useful feature for expediting the process of finding potential clients. When agents list a property as public, it becomes visible to a broader audience, potentially attracting more potential buyers or tenants. An agent, while adding a new property to the system, has the option to mark the property as "public" or "listed" for wider exposure. When a property is marked as public, it is made visible to a larger audience, including other agents, clients, and potential buyers or tenants. The property listing includes comprehensive details, such as property type, location, size, features, price, and a description. High-quality photos and, in some cases, virtual tours can be included to showcase the property. Public listings are easily discoverable by users searching for properties that match the criteria of the listed property. The system's search feature allows clients and agents to find these listings. If a property matches the preferences of a client or another agent's client requirement (e.g., a buyer's criteria), the system can generate automated notifications and alerts. These notifications inform the relevant parties of potential matches. Interested parties can inquire about the property directly through the system. Agents receive these inquiries and can respond, facilitating communication and collaboration. Agents can schedule property viewings or appointments with interested clients, further expediting the process of finding a suitable buyer or tenant. The system 102 may provide a property management dashboard where agents can track the status and engagement of public listings. This includes information on the number of views, inquiries, and interactions related to each property. Agents can choose to unlist a property if it is no longer available, has been sold, or if the listing needs to be temporarily taken down. The system 102 may allow agents to adjust the visibility of their listings, giving them control over when a property is listed as public or kept private. The agent's dashboard may differentiate between public and private listings, making it easy for agents to manage their inventory. Listing a property as public expedites the process of finding potential clients and can lead to quicker property transactions. It increases the visibility of available properties and provides an efficient way for clients and agents to discover and engage with suitable real estate listings.
In one embodiment, an agent can create a customized webpage, marketing material, agent portfolio, agent visiting card on the system 102 which clients of the agent can download from the system 102. Allowing real estate agents to create customized webpages, marketing materials, agent portfolios, and visiting cards within the system is a powerful feature that empowers agents to market their services effectively. Clients can then access and download these materials directly from the system. Each agent has their own profile within the system 102. They can access a suite of tools for creating and customizing various marketing materials. Agents can design and customize webpages to showcase their services, property listings, client testimonials, and contact information. This may include the option to select templates, upload images, and add personalized content. Agents can create marketing materials such as brochures, flyers, and property listings. They can design these materials using templates provided by the system or by uploading their designs. Agents can build an online portfolio highlighting their experience, certifications, awards, and successful deals. They can include details about their areas of expertise, specialties, and a personal bio. Agents can design digital visiting cards with their name, contact information, and a QR code that leads clients to their webpage or profile within the system 102. Agents can share links to their customized webpages, marketing materials, portfolios, and visiting cards with clients through the system's communication channels (e.g., messaging or emails). Clients can access the links provided by agents and have the option to download the marketing materials or view the webpage. This makes it easy for clients to have all the necessary information at their fingertips. Agents can update their content as needed. For instance, they can add new property listings, update their portfolio, or change marketing materials. The system 102 ensures that clients always have access to the latest information. The system 102 can integrate with the Customer Relationship Management (CRM) module to keep track of client interactions and materials shared. This helps agents provide personalized services. The system 102 can provide agents with analytics and insights regarding which materials are most frequently accessed and downloaded by clients. Agents can track client engagement with their materials to understand what clients find most appealing and useful. Empowering agents to create and share customized marketing materials, webpages, portfolios, and visiting cards enhances their ability to market their services and properties effectively. Clients benefit by having easy access to information and resources to make informed decisions. This feature contributes to the overall success of real estate professionals and improves the client-agent relationship.
While certain embodiments of the present invention have been described above and illustrated in the drawings, there might be many other embodiments and variations of the present invention which are to be considered to be within the spirit and scope of the present invention and defined by the following claims.
, Claims:We claim:
1. A method (400) for real-time management of real estate, the method comprising:
receiving activities related to one or more real estate properties from one or more real estate agents on a real estate management system (102);
classifying the received activities into one of a general activity (404), a financial activity (406), or a legal activity (408);
generating a genact timeline (414), a finact timeline (416), and a legact timeline (418) based respectively on the general activity (404), the financial activity (406) and the legal activity (408), wherein the finact timeline (416) represents a financial outcome of the financial activity (406) with respect to time, the legact timeline (418) represents a legal outcome of the legal activity (408) with respect to time, and wherein the genact timeline (414) represents an outcome other than a financial or legal outcome of the general activity (404) with respect to time; and
generating a reward index (420) for the one or more agents based on at least one of the genact timeline (414), the finact timeline (416), and the legact timeline (418).
2. The method as claimed in claim 1, wherein the received activities comprise determining in real time, identity of a person as a real estate agent or as a client.
3. The method as claimed in claim 1, wherein the received activities comprise determining an agent-to-agent or an agent-client call within the system.
4. The method as claimed in claim 1, wherein the received activities comprise tracking a property inventory of an agent on a map for a selected location.
5. The method as claimed in claim 1, wherein received activities comprise tracking real-time activities as timelines or generation of a property passbook with expenses of visit and exact status of property on a daily basis.
6. The method as claimed in claim 1, wherein received activities comprise displaying profitable real-time average value of property according to a location for a real estate agent based on analysis of information in a data store.
7. The method as claimed in claim 1, wherein received activities comprise providing a real estate agent with one or more documents in one or more formats for legal purposes and providing prompts to edit and complete the one or more documents.
8. The method as claimed in claim 1, wherein received activities comprise listing of a property publicly on the system.
9. The method as claimed in claim 1, wherein received activities comprise generating agent specific search engine optimized marketable webpage, visiting card, leaflet or pamphlet of single listing property, and a brochure of all listed properties.
10. The method as claimed in claim 1, wherein received activities comprise activating or deactivating sub-profiles for employees of the registered agent.
11. The method as claimed in claim 1, wherein received activities comprise determination of a current price using one or more artificial intelligence or machine learning techniques based on a location and a size of a real estate property.
12. The method as claimed in claim 1, wherein the legact timeline comprises a record of one or more legal activities required to be performed and actually performed with respect to time and every breach of legal threshold of time or fees and, a recommended solution for every breach with time thresholds.
13. A computer-based system (102) for real-time real estate management, the system (102) comprising a processor (302) communicatively coupled to a memory (310), the memory (310) containing computer readable instructions, the processor (302) capable of executing the instructions stored in the memory (310), the processor executing the instructions for:
receiving activities related to one or more real estate properties from one or more real estate agents on a real estate management system (102);
classifying the received activities into one of a general activity (404), a financial activity (406), or a legal activity (408);
generating a genact timeline (414), a finact timeline (416), and a legact timeline (418) based respectively on the general activity (404), the financial activity (406) and the legal activity (408), wherein the finact timeline (416) represents a financial outcome of the financial activity (406) with respect to time, the legact timeline (418) represents a legal outcome of the legal activity (408) with respect to time, and wherein the genact timeline (414) represents an outcome other than a financial or legal outcome of the general activity (404) with respect to time; and
generating a reward index (420) for the one or more agents based on at least one of the genact timeline (414), the finact timeline (416), and the legact timeline (418).
14. The method as claimed in claim 13, wherein the received activities comprise determining in real time, identity of a person as a real estate agent or as a client.
15. The method as claimed in claim 13, wherein the received activities comprise determining an agent-to-agent or an agent-client call within the system.
16. The method as claimed in claim 13, wherein the received activities comprise tracking a property inventory of an agent on a map for selected a location.
17. The method as claimed in claim 13, wherein received activities comprise tracking real-time activities as timelines or generation of a property passbook with expenses of visit and exact status of property on daily basis.
18. The method as claimed in claim 13, wherein received activities comprise displaying profitable real-time average value of property according to a location for a real estate agent based on analysis of information in a data store.
19. The method as claimed in claim 13, wherein received activities comprise providing a real estate agent with one or more documents in one or more formats for legal purposes and providing prompts to edit and complete the one or more documentation.
20. The method as claimed in claim 13, wherein received activities comprise listing of a property publicly on the system.
21. The method as claimed in claim 13, wherein received activities comprise generating agent specific search engine optimized marketable webpage, visiting card, leaflet or pamphlet of single listing property, and a brochure of all listed properties.
22. The method as claimed in claim 13 wherein received activities comprise activating or deactivating sub-profiles for employees of the registered agent.
23. The method as claimed in claim 13, wherein received activities comprise determination of a current price using one or more artificial intelligence or machine learning techniques based on a location and a size of a real estate property.
24. The method as claimed in claim 13, wherein the legact timeline comprises a record of one or more legal activities required to be performed and actually performed with respect to time and every breach of legal threshold of time or fees and, a recommended solution for every breach with time thresholds.