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

In a system that includes a system operator, a plurality of information providers, and a plurality of information customers, a method for allowing the information providers to both distribute specified information through the Internet and control dissemination of information, the method comprising the steps of:

• making the information provider's specified information available through a secured website on the Internet;
• allowing potential customers to query a searchable database containing a plurality of descriptions of information;
• indicating to the potential customers that the specified information exists without revealing the specified information;
• if one or more of the potential customers are interested in obtaining access to the specified information, allowing an interested potential customer to communicate a request for access directed to the system operator;
• the system operator forwarding the request for access and information concerning the interested potential customer requesting access to the information provider in response to a request for access;
• allowing the information provider to make a decision to grant or deny the request for access and to communicate the decision to the system operator, whereupon in response to a deny access decision, the interested potential customer is notified of the deny decision without learning the specified information, and whereupon in response to a grant access decision, the system operator grants the interested potential customer access to the specified information.

A system for correlating information stored in a remote database with a user's location, retrieving pertinent data files from the database based upon the user's location, and automatically transmitting the selected data files to the user, the system comprising:

• user equipment sets, each user equipment set comprising a display and a location determining device for generating data pertaining to the user's location and for transmitting the data pertaining to the user's location to a remote computer automatically;
• a computer, the computer equipped for wireless communication with geographically remote users that are equipped with the equipment sets so as to send data to the equipment sets and receive data from the equipment sets including the data pertaining to the user's location;
• and
• a database in communication with the computer, the database storing information that includes information identifying a location of a property;
• whereby, in response to receipt of the data pertaining to a user's location, the computer automatically retrieves information pertaining to the user's location and transmits the same to the user's equipment set for display on the display.

A method for storing and automatically displaying descriptions and visual images of commercial or residential real estate on a display of a user, comprising the steps of:

• generating a plurality of digitized video images of real estate, each digitized video image depicting a real estate;
• storing data records concerning the real estate including the digitized video images, textual information concerning the real estate, and information identifying the location of the real estate;
• determining a location of the user;
• retrieving data records corresponding to the user's location;
• and
• displaying on the display the digitized video images and textual information from the data records corresponding to the user's location.

A method for listing and brokering commercial real estate comprising the steps of:

• identifying a plurality of characteristics of the commercial real estate and entering the plurality of characteristics into a data processing system to establish a first exchange market for the commercial real estate based upon the plurality of characteristics;
• identifying a market value for the commercial real estate and listing the market value on the first exchange market;
• determining a class of derivatives based upon a pre-selected subset of the plurality of characteristics;
• and
• establishing a second exchange market in respect of the derivatives.

A method for establishing a unified group of correlated databases that provides real estate data to facilitate a real estate transaction, wherein each database of the unified group is a discrete data module, the method comprising:

• (a) associating real estate data entries of a first database of the unified group with corresponding real estate data entries of the remaining databases of the unified group;
• (b) collecting the real estate data from real estate industry data sources;
• (c) recording the real estate data in the first database of the unified group;
• (d) determining an effect of the recorded real estate data on the remaining databases of the unified group;
• (e) reconciling remaining real estate data in the remaining databases based on the effect;
• and
• (f) distributing the recorded real estate data and the reconciled real estate data to real estate industry professionals and to real estate industry customers.

A system for collecting, distributing, and using real estate data comprising:

• (a) data sources that gather and generate the real estate data;
• (b) data mining applications in communication with the data sources, wherein the data mining applications receive and organize the real estate data into separate interrelated modules, and wherein the data mining applications evaluate the real estate data and reconcile the real estate data among the interrelated modules;
• (c) a contact management system in communication with the data sources and the data mining applications, wherein the contact management system directs data mining applications to conduct continuous pollings of the data sources to update the real estate data;
• (d) a core data warehouse in communication with the data mining applications, wherein the core data warehouse receives and stores the reconciled and updated real estate data from the data mining applications;
• (e) database processes in communication with the core data warehouse, wherein the database processes access the reconciled and updated real estate data from the core data warehouse and create database sets;
• and
• (f) network integration applications in communication with the database processes, wherein the network integration applications manipulate the database sets in response to commands from a user and present results of the manipulation to the user.

A method for securely facilitating buying and selling of real estate properties comprising the steps of:

• (a) maintaining a unified group of interrelated databases accessible through a global information network;
• (b) accepting a property listing from an owner or owner representative and recording the property listing in the unified group;
• (c) providing confidentiality agreements to preapproved buyers or buyer representatives named by the owner or owner representative, wherein the confidentiality agreements require that the property listing remain confidential in return for viewing the property listing;
• and
• (d) providing access to the property listing for buyers or buyer representatives that agree to the confidentiality agreement.

A method for securely facilitating buying and selling of real estate properties comprising the steps of:

• (a) maintaining a unified group of interrelated databases accessible through a global information network;
• (b) accepting a property listing from an owner or owner representative and recording the property listing in the unified group;
• (c) indicating to an unapproved buyer or buyer representative that the property listing exists;
• (d) accepting from the unapproved buyer or buyer representative a request to view the property listing;
• (e) forwarding the request to the owner or owner representative for approval;
• (f) if the owner or owner representative approves the request, requiring the unapproved buyer or buyer representative to agree to a confidentiality agreement requiring that the property listing remain confidential in return for viewing the property listing;
• and
• (g) if the unapproved buyer or buyer representative agrees to the confidentiality agreement, providing access to the property listing for the unapproved buyer or buyer representative.

A method for underwriting loans for real estate property comprising the steps of:

• (a) establishing a unified group of correlated databases that provides data to facilitate a real estate transaction, wherein each database is a discrete module of real estate data;
• (b) providing quotes on individual loan programs in response to customer requests, wherein the quotes are based on property data in the unified group;
• (c) providing soft loan quotes based on property data in the unified group;
• and
• (d) providing pre-approved loan quotes to owners of particular properties based on real estate data for the particular properties and market information in the unified group.

A method for listing and brokering real estate commodities and financial derivatives of the real estate commodities comprising the steps of:

• (a) identifying characteristics of the real estate commodities;
• (b) entering the characteristics into a data processing system using a real-time clock;
• (c) establishing an exchange market for the real estate commodities based on a pre-selected set of the characteristics;
• (d) setting a market price for the real estate commodities;
• and
• (e) establishing classes of the financial derivatives.

A system for listing and brokering real estate commodities and financial derivatives of the real estate commodities comprising:

• (a) a data processing means for accepting and storing parameters of an available commodity available for sale or exchange;
• (b) data processing means for entering a description of a desired commodity desired for purchase or exchange;
• (c) means for determining that a match exists between the available commodity and the desired commodity;
• (d) means for displaying the match to a system operator;
• (e) means for selecting the match for purchase, exchange, or purchase and exchange;
• (f) means for determining a class of financial derivatives based on a pre-determined set of characteristics resident in commodity descriptions stored in a database;
• and
• (g) means for selecting a class of derivatives for purchase, exchange, or purchase and exchange.

A method for shopping for real estate and completing real estate transactions comprising the steps of:

• (a) providing a mobile information transmitting and receiving device that is in communication with a database containing real estate data;
• (b) determining a location of the mobile information transmitting and receiving device using a global positioning system;
• (c) downloading from the database to the mobile information transmitting and receiving device real estate data corresponding to the location;
• and
• (d) displaying on the mobile information transmitting and receiving device summary information corresponding to a property listed in the real estate data to which the mobile information transmitting and receiving device is nearest.

A system for use in information exchange between a system operator, a plurality of information providers, and a plurality of information customers, to allow the information providers to both distribute specified information through the Internet and control dissemination of information, the system comprising:

• (a) means for making the information provider's specified information available through a secure website on the Internet;
• (b) means for obtaining from the information provider a designation of a first subset of the information customers that are authorized to receive access to the specified information on the website;
• and
• (c) means for distributing to each one of the first subset of the information customers that are authorized to receive access to the specified information an ID that can be used to access the specified information.

A system for use in information exchange between a system operator, a plurality of information providers, and a plurality of information customers, to allow the information providers to both distribute specified information through the Internet and control dissemination of information, the system comprising:

• (a) means for making the information provider's specified information available through a secure website on the Internet;
• (b) means for providing a description of the specified information in a searchable database containing a plurality of descriptions of information;
• (c) means for allowing a customers to query the searchable database and retrieve information sufficient to show the existence of information responsive to the query without revealing all of the information;
• (d) means for allowing one or more of the customers that are interested in obtaining access to the complete information to communicate their interest in access to the information responsive to the query;
• (e) means for forwarding the request for access and information concerning the interested customer requesting access to the information provider in response to a request for access;
• and
• (f) means for allowing the information provider to make a decision to grant or deny the request for access to the information responsive to the query, whereupon in response to a deny access decision, the interested customer is notified of the deny decision without learning the identity of the information provider, and whereupon in response to a grant access decision, the interested customer receives access to the specified information.

A system for correlating information stored in a remote database with a user's location, retrieving pertinent data files from the database based upon the user's location, and transmitting the selected data files to the user, the system comprising:

• user equipment sets, each user equipment set including means for inputting or determining a user's geographic location and for transmitting information pertaining to the user's location to a remote computer;
• a computer, the computer equipped for communication with geographically remote users that are equipped with the equipment sets so as to send data to the equipment sets and receive data from the equipment sets including data pertaining to a user's location;
• and
• a database in communication with the computer, the database storing information that includes information identifying the location of a property,
• whereby, in response to receipt of data pertaining to a user's location, the computer retrieves information pertaining to the user's location and transmits the same to the user's equipment set for display on the display.

A system for storing and automatically displaying descriptions and visual images of real estate on a user's display, comprising:

• means for generating a plurality of digitized video images of selected real estate, each digitized video image depicting a view of a specified area of a real estate property;
• means for storing data records concerning the real estate including the digitized video images, textual information concerning the real estate, and information identifying the geographic location of the real estate in a computer database;
• means for determining a user's geographic location;
• means for retrieving data records corresponding to the user's geographic location;
• and
• means for displaying on a single display the digitized video images and textual information.

A system for facilitating commercial real estate information loan transactions comprising:

• at least one searchable database containing data records that:
• identify a plurality of commercial real estate properties, associate at least one lender with each of the commercial real estate properties, associate a loan commitment with each of the commercial real estate properties, provide information sufficient to evaluate the investment value of the property, and provide a list of qualified buyers or information sufficient to evaluate the credit worthiness of prospective buyers;
• a search engine for allowing potential customers to query the searchable database;
• communication equipment for allowing potential customers that are interested in purchasing a commercial real estate property to communicate their interest and lock in the loan commitment associated with that commercial real estate property subject to qualification of the potential customer as a qualified buyer;
• and
• a computer for determining whether the potential customer is a qualified buyer and prompting the potential customer to provide further information, if required.

A method for facilitating commercial real estate information loan transactions comprising the steps of:

• providing at least one searchable database that contain data records that:
• identify a plurality of commercial real estate properties,
• associate at least one lender with each of the commercial real estate properties,
• associate a loan commitment with each of the commercial real estate properties,
• provide information sufficient to evaluate the investment value of the property, and
• provide a list of qualified buyers or information sufficient to evaluate the credit worthiness of prospective buyers;
• allowing potential customers to query the searchable database to identify commercial real estate properties of interest and, in response to such queries, presenting the potential customers with information sufficient to evaluate the investment value of each property and the loan commitment associated with that commercial real estate property;
• and
• allowing potential customers that are interested in purchasing a commercial real estate property to communicate their interest and lock in the loan commitment associated with that commercial real estate property subject to qualification of the potential customer as a qualified buyer;
• and
• determining whether the potential customer is a qualified buyer and prompting the potential customer to provide further information, if required.

A system for facilitating commercial real estate information loan transactions comprising:

• at least one searchable database containing data records that:
• identify a plurality of qualified buyers of commercial real estate together with information sufficient to evaluate the credit worthiness of each of the qualified buyers listed;
• and
• associate either a category of interest or past purchase information indicative of a category of interest with each qualified buyer;
• a search engine for allowing potential sellers of commercial real estate to query the searchable database;
• and
• communication equipment for allowing potential sellers of commercial real estate property to communicate information concerning their property to qualified buyers.

A method for facilitating commercial real estate information loan transactions comprising:

• providing at least one searchable database containing data records that:
• identify a plurality of qualified buyers of commercial real estate together with information sufficient to evaluate the credit worthiness of each of the qualified buyers listed;
• and
• associate either a category of interest or past purchase information indicative of a category of interest with each qualified buyer;
• providing a search engine for allowing potential sellers of commercial real estate to query the searchable database;
• and
• allowing potential sellers of commercial real estate property to communicate information concerning their property to qualified buyers, the information including market information and building-specific information.

A method for providing information concerning real estate property comprising the steps of:

• (a) displaying a user interface;
• (b) displaying a display element on the user interface to indicate a real estate property;
• (c) linking the display element to a data entry for the real estate property;
• (d) allowing a user to select the display element;
• and
• (e) in response to selection of the display element, retrieving and displaying information from the data entry.

In a system comprising a plurality of user computers having displays in communication with a searchable database, a method of displaying data retrieved from the searchable database on a user display of a user computer, the method comprising the steps of:

• displaying a first portion of the data retrieved from the searchable database on the user display;
• storing a second portion of the data retrieved from the searchable database on the user computer;
• in response to a user input selecting the first portion of the data displayed, identifying a subset of the second portion of data that is relevant to the selected first portion of the data displayed;
• and
• displaying on the user display the subset of the second portion of data that is relevant to the selected first portion of the data displayed, wherein the subset of the second portion displayed is less than the entire second portion of data.