Patent ID: 6751596
Filing Date: 2004-06-15
Classification: G06Q

Abstract:
A method for tracking, monitoring, and supporting the purchase of a real estate property by a buyer via an electronic information system, the method comprising:generating a user tracking record for the buyer, the user tracking record storing a list of activities of self-procurement engaged by the buyer in completing the purchase of a real estate property; storing in the tracking record information about the buyer's attendance in a home counseling program; downloading real estate property listings from a professional real estate database into a local listings database accessible to the buyer; authenticating the buyer as an authorized user of the electronic information system; receiving real estate property search parameters from the buyer; searching the local listings database for a property matching the search parameters; notifying the buyer of a matched property; updating the tracking record with the notification information; entering a viewing appointment for the matched property; updating the tracking record with results of the viewing appointment; invoking a user application module for drafting a purchase offer for the matched property; updating the tracking record with information on the purchase offer; storing in the tracking record closing activities engaged by the buyer in completing the purchase of the matched property; and providing verification based on the tracking record that the buyer has engaged in activities of self-procurement performed using this system, which substitute for the services of a licensed real estate professional to earn a real estate commission associated with the matched property for use of the real estate commission as downpayment for purchasing the matched property.