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US 8,301,509 B2Granted
Online negotiation system and method
AssigneeEgoc8.Com LLC
InventorsDean M. Paone, Thomas LoBue
Life of this patent
Estimating the term…
Abstract
A computer system and method carried out by the system for assisting parties in negotiation the sale price of real estate or personal property is disclosed wherein a web server receives a property listing from a seller at an asking price, receives a bid from a buyer at an offer price, compares the asking price to the offer price and determines whether the difference between the offer price and asking price is within a first, second, or third predetermined % value and notifies the parties whether they are cold, warm, hot, or matched. If there is a match, an agreement of sale may be generated.
Claims17
A computer system comprising a server which comprises computer memory storage and a processor which is programmed with a set of instructions that when executed
- establish a first tier, second tier, and third tier,
- assign a difference value or spread number to the first tier,
- assign a difference value or spread number to the second tier which is higher than the value or number assigned to the first tier,
- assign a difference value or spread number to the third tier which is higher than the value or number assigned to the second tier,
- reveal only first, second, and/or third tier status to the prospective buyer and seller and not the difference values or spread numbers,
- receive a real estate or personal property listing from a seller of the property at a first ask price,
- receive a bid from a prospective buyer of the property at a first bid price,
- compare the first ask price to the first bid price,
- calculate whether the difference between the first bid price and first ask price is within the first, second, or third tier,
- wherein if the calculated difference between the first bid and first ask prices is within the first predetermined value and thus within the first tier, if the buyer and seller have previously agreed to split the difference between a bid price and an ask price if the bid price and ask price are within a stated amount or percentage, automatically split the difference and notify the prospective buyer and seller that they have reached an agreement at a system calculated price,
- wherein if the buyer and seller have not previously agreed to split the difference between a bid price and an ask price if the first bid and ask prices are within a stated amount or percentage, notify the buyer and seller that the calculated difference between the bid and ask prices is within the first tier and that the parties should consider splitting the difference,
- wherein if the calculated difference is within the second predetermined value, notify the buyer and seller that the calculated difference is within the second tier,
- wherein if the calculated difference is within the third predetermined value, notify the buyer and seller that the offer is within the third tier, and
- if the calculated difference is greater than the third predetermined value, notify the buyer and seller that the calculated difference is greater than the third tier,
- receive one or more subsequent bids from a buyer only if the subsequent bid price is at least 1% higher than the highest preceding bid price or one or more subsequent ask price from a seller only if the subsequent ask price is at least 1% lower than the lowest preceding ask price;
- notifying the seller if a subsequent bid price at least 1% higher than the highest preceding bid price is received and notifying the buyer if a subsequent ask price at least 1% lower than the lowest preceding ask price is received;
- notifying the seller and the buyer if a subsequent bid price or subsequent ask price causes the calculated difference to be in a higher tier, thereby encouraging the buyer to increase the bid price by at least one percent or encouraging the seller to reduce the ask price by at least one percent.
14 more elements
A method comprising programming a computer system which comprises computer memory storage and a processor with a set of instructions which
- establish a first tier, second tier, and third tier,
- assign a difference value or spread number to the first tier,
- assign a difference value or spread number to the second tier which is higher than the value or number assigned to the first tier,
- assign a difference value or spread number to the third tier which is higher than the value or number assigned to the second tier,
- reveal only first, second, and/or third tier status to the prospective buyer and seller and not the difference values or spread numbers,
- receive a real estate or personal property listing from a seller of the property at a first ask price,
- receive a bid from a prospective buyer of the property at a first bid price,
- compare the first ask price to the first bid price,
- calculate whether the difference between the first bid price and first ask price is within the first, second, or third tier,
- wherein if the calculated difference between the first bid and first ask prices is within the first predetermined value and thus within the first tier, if the buyer and seller have previously agreed to split the difference between a bid price and an ask price if the bid price and ask price are within a stated amount or percentage, automatically split the difference and notify the prospective buyer and seller that they have reached an agreement at a system calculated price,
- wherein if the buyer and seller have not previously agreed to split the difference between a bid price and an ask price if the first bid and ask prices are within a stated amount or percentage, notify the buyer and seller that the calculated difference between the bid and ask prices is within the first tier and that the parties should consider splitting the difference,
- wherein if the calculated difference is within the second predetermined value, notify the buyer and seller that the calculated difference is within the second tier,
- wherein if the calculated difference is within the third predetermined value, notify the buyer and seller that the offer is within the third tier, and
- if the calculated difference is greater than the third predetermined value, notify the buyer and seller that the calculated difference is greater than the third tier,
- receive one or more subsequent bids from a buyer only if the subsequent bid price is at least 1% higher than the highest preceding bid price or one or more subsequent ask price from a seller only if the subsequent ask price is at least 1% lower than the lowest preceding ask price;
- notify the seller if a subsequent bid price at least 1% higher than the highest preceding bid price is received and notifying the buyer if the subsequent ask price at least 1% lower than the lowest preceding ask price is received;
- notify the seller and the buyer if a subsequent bid price or subsequent ask price causes the calculated difference to be in a higher tier, thereby encouraging the buyer to increase the bid price by at least one percent or encouraging the seller to reduce the ask price by at least one percent.
14 more elements
Dependencies are inferred from the claim text.