Patent ID: 6178406
Filing Date: 2001-01-23
Classification: G06Q

Abstract:
A computer-implemented method for estimating price of a subject property, comprising:retrieving a set of real estate properties comparable to the subject property from a case base, the comparable properties and the subject property characterized by a plurality of common attributes each having a respective value;evaluating each attribute value from the comparable properties to the same attribute value of the subject property on a fuzzy preference scale indicating desirable and tolerable deviations from an ideal match with the subject property, each evaluation generating a preference vector having a value between 0 and 1;determining a measurement of similarity between each comparable property and the subject property;extracting comparable properties according to a predetermined threshold;adjusting the price of the extracted comparable properties to the value of the subject property by evaluating additional characteristics between the comparable properties and the subject property;extracting comparable properties according to predetermined selection criteria; andaggregating the extracted comparable properties into an estimate price of the subject property.