Claims:We Claim:
1. A method of Real Estate display to support business management comprising:
a. an Office Grid
b. selection list
c. an information windows
2. The method of claim 1, wherein displaying a graph of the information window differs from the information window only in size
3. The method of claim 1, wherein displaying a graph of the information windows display identical information in an identical manner including tabular displays and a variety of graphical and production displays.
4. The method of claim 3, wherein the Product display includes a bar graph, and a tabular textual display depicting information underlying the graph.
, Description:Technical Field of the Invention
The present invention relates generally to the field of software and in particular to software products that provide statistical analysis and display of real estate data to support improved and efficient management of real estate businesses.
Background of the Invention
While virtually all real estate businesses subscribe to the MLS, and utilize the database in the day to day operation of the business, MLS data is not utilized by real estate business managers to generate strategic plans, set goals, define and track measures of progress and business efficiency, evaluate performance, and the like, of their own businesses. That is, real estate businesses primarily utilize MLS to list their own properties, and to discover and analyse properties listed by others.
It is known in the art for agents and brokers to utilize MLS data in a rudimentary manner to assist in pricing properties. MLS data is also utilized by facilities management personnel to perform comparative analyses of selected properties, for tax purposes, assessments, determination, to inform investment decisions and the like. It is also known to perform statistical analysis on aggregate MLS data to forecast projected housing needs for planning and urban development, and the like. However, no prior art MLS data analysis systems or methods utilize advanced data mining, statistical analysis and sophisticated display views to provide powerful tools to facilitate and improve the management of real estate businesses.
Object of the Invention
The present object of the invention is Systems and Methods of Real Estate display to support business management.
Summary of the Invention
Another embodiment relates to a method of evaluating a real estate agent not associated with a real estate business. Real estate data are periodically extracted from one or more Multiple Listing Service (MLS) databases to a local database. Data associated with properties listed or sold by said real estate agent over a predetermined time period are extracted from the local database. The data are analysed against financial and performance metrics unique to the real estate business, and information estimating what the real estate agent's performance would have been within the real estate business over the time period is displayed.
Another embodiment relates to a method of determining a listing price for a subject property. Real estate data are periodically extracted from one or more Multiple Listing Service (MLS) databases to a local database. One or more attributes of the subject property obtaining are obtained. Data associated with properties having similar attributes are extracted from the local database. A graph depicting the number of similar properties listed and sold over a predetermined time period and the number of currently active listings of similar properties is displayed. In a further embodiment, a scatter point graph of similar properties falling within a selectable range of the subject property price is displaying, the graph having an ordinate representing days on market and an abscissa depicting price.
Another embodiment relates to a method of assessing real estate market share. Real estate data are periodically extracted from one or more Multiple Listing Service (MLS) databases to a local database. A market is defined by identifying attributes including MSL-defined geographic area. Competitors are defined by identifying one or more real estate offices or brokers. Data associated with properties in the market, listed or sold by the competitors, are extracted from the local database. The relative share of the market held by each competitor is calculated and displayed.
Brief description of Drawings:
FIG. 1 depicts an information display screen for a higher hierarchy manager, in particular Production view.
Detailed Description of Invention:
For example, FIG. 1 depicts a higher-level display. The display may, for example, be displayed at the terminal of an enterprise manager. Correspondingly, the display may be displayed at the terminal of an office manager. The higher-level display includes an Office Grid, or selection list, and an information window. The display includes only an information window and does not include the Office Grid. The information window differs from the information window only in size the information windows display identical information in an identical manner, which may include tabular displays and/or a variety of graphical displays. For example, FIGS. 1 depict a Production display for a particular office, which includes a bar graph depicting listing and sold properties, and a tabular textual display depicting information underlying the graph.
In practice, an enterprise manager may bring up the display, select a first office from the Office Grid, and place a telephone call to the office manager of that first office, who brings up display. The managers may then discuss the business and productivity metrics of the first office, for which the office manager has responsibility. As the managers discuss various aspects of the office's performance, they may each bring up information views on their respective terminals. In each such case, the display seen by the enterprise manager and the display seen by the office manager are substantially identical. This consistency of user interface and view into the same information dramatically facilitates and enhances communications between the managers.
After such a discussion, the enterprise manager may select a second office from the Office Grid, changing the information displayed in display to that associated with the second office. The enterprise manager may then call the second office's manager and discuss that office's business and performance metrics. The second office's manager, viewing the display on his terminal, then has the same information before him, displayed in the same manner, as the enterprise manager, thus facilitating communications between the two. In this manner, the enterprise manager may quickly review the performance of all offices for which he has responsibility, and may have efficient, focused conversations with office managers facilitated by the consistency of views into the MLS data associated with each office's properties. This capability avoids the frustration, confusion and general inefficiency of different hierarchical levels of the organization “talking past” each other as they view different data and/or different depictions of the same data.
The same consistency of user interface and information display across hierarchical levels is present between an office manager and real estate agents and the same benefits of effective communication and efficient management accrue. In that case, the display may be displayed by an office manager on a terminal, and the display may be displayed by a real estate agent on a terminal.
An additional benefit to this consistency of views across hierarchical levels is career development. As individuals are promoted to higher hierarchical levels within the enterprise, for example from agent to office manager from office manager to regional manager or the like, the tools with which they will measure and evaluate the units for which they have responsibility are identical to the tools they have previously used to manage their own productivity. This consistency of views, as well as the power of data mining the MLS, thus reduces training time and expense, and increases productivity as individuals are promoted within the organization.