Note : Les descriptions sont présentées dans la langue officielle dans laquelle elles ont été soumises.
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SYSTEM AND METHOD FOR MANAGING CUSTOMER
RELATIONSHIPS OVER A DISTRIBUTED COMPUTER NETWORK
CROSS REFERENCE TO RELATED APPLICATIONS
This application is a continuation-in-part of U.S. Patent Application
Serial No. 09/459,234, filed December 10, 1999 and claims priority to U.S.
Provisional
Patent Application Serial No. 60/175,397, filed January 1 l, 2000, both of
which are
incorporated herein by reference in their entireties, respectively.
BACKGROUND OF THE INVENTION
Field of the Invention
The subject invention relates to managing customer relationships, and
more particularly, to a system and method for identifying, offering and
ordering goods
and services related to real estate for customers.
2. Background of the Related Art
The traditional business model for real estate companies has been to list
and sell properties with a sales force of independent contractors, e.g., real
estate agents.
It should be recognized that "agent" (both listing and selling), "real estate
agent", "sales
agent", "broker" and the like are used interchangeably throughout the
specification.
Real estate agents generally have been the main interface for customers. Real
estate
companies have exclusively provided real estate agents, tours of properties on
the
market, submission of bids and information about schools and neighborhoods.
Typically, real estate agents supplied only information relating to the
purchase and sale of a home. For example, agents conduct assessments of a home
to
determine an appropriate listing price. Further, an agent may provide several
suggestions such as repairs and clean-ups which may enhance the curb appeal
and
value of a home. Thus, a sale of the home is facilitated as well as a return
on the
investment in clean-up and repair.
T:.~ widespread use of personal computers, modems and data
connections has allowed the growth of computer networks. The Internet serves
as an
example of a type of computer network, and indeed, is a large network of
networks, all
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inter-connected, wherein electronic mail, file transfer, remote log-in and
other services
are offered. The Internet uses a client-server architecture which is a network-
based
system that uses client software running on one computer to request a specific
service,
and uses corresponding server software running on a second computer to provide
access to a shared resource managed by the second computer. The second
computer
then connects to the Internet, which provides the specific service requested.
In 1989 the World Wide Web (hereinafter the "Web") was developed by
English computer scientist Timothy Berners-Lee to enable information to be
shared
among internationally dispersed teams of researchers at the European
Organization for
Nuclear Research. The Web is an application program which runs on individual
computers and creates connections to multiple different source computers over
one or
more networks. Web files are formatted using Hypertext Markup Language (HTML)
and Web communications occur using the Hypertext Transfer Protocol (HTTP). The
Web is a component of the Internet which allows Internet addressable resources
to be
connected to one another. The concept of connectivity was originally conceived
by
Ted Nelson in the mid 1960s as a method for making computers respond to the
way
humans think and require information. In Web parlance, the Web connections are
called links or hyperlinks. The server that contains the files is called a Web
site. Web
sites contain documents which are called Web pages. Web pages are displayed on
a
computer screen as agglomerations of text and images. Additionally, sound can
accompany the Web pages. On Web pages, hyperlinks may be displayed as text,
typically in blue, or as a graphic icon. Users operating client computers
interact with
the Web by utilizing application programs known as Web browsers. When
connected
to a Web site, users, e.g., clients interact with Web pages by using a mouse
and
pointing and clicking on visual objects on the screen.
The Internet is growing exponentially and becoming an essential
component of everyday life. Businesses are utilizing it to access and
distribute
information and increase communication both internally and externally.
Millions of
people currently use the Web for purposes as varied as buying cars, theatre
tickets,
clothes, selling antiques, collectibles and real estate, reading the news of
the day and
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sending and receiving electronic mail. Access to the Internet via wireless
means is also
possible to allow interaction from virtually anywhere, anytime.
Such proliferation of the Internet has presented an additional challenge
to the traditional business model for selling real estate. The low overhead
distribution
of information via the Internet has created alternatives to the traditional
real estate
company. Customers are increasingly acquiring traditional real estate company
services via the Internet without engaging a real estate agent or company. As
a result,
the Internet has caused a downward pressure on broker commissions and
increased
competition for customers. Therefore, real estate companies require an
improved
system and method which adds value for their customers, allows customers full
access
to information, justifies commissions and establishes and maintains a long-
term
relationship with the customer.
Several attempts have been made to try and improve upon systems for
managing information and, in particular, information relating to a real estate
company.
For example, U.S. Patent No. 5,664,115 to Fraser discloses a system for
matching
buyers and sellers of real estate. The system of Fraser stores a set of
records
corresponding to property listings. A potential buyer can access the system,
via the
Internet, and search the property listings according to sorting criteria. The
system
provides the records which meet the sorting criteria to the buyer. Further,
the seller
may input criteria, such as cash on hand, to narrow the prospective buyers
which their
listing may be shown. If the transaction is ultimately consummated, the buyer
and/or
seller may pay a fee to the system operator.
U.S. Patent No. 5,584,025 to Keithley et al. teaches a system for
processing demographic information. The system tracks when, where and how an
advertisement was viewed and compiles related statistics. In a real estate
related
application, the system would provide agents and clients information about
each other,
listings and communities. Clients can contact responsible parties via
telephone. A
Transaction Processing Database tracks appointments and significant dates. The
Agent
Market Data Database is a compilation of inventory and sales reports. The Real
Estate
Related Services Database and the Home Services Database are compilations of
vendors of real estate related services. As a result of the traffic to the
system,
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demographic information is generated which allows targeted marketing to
potential
customers early in their decision process.
Further, U.S. Patent No. 5,309,355 to Lockwood discloses an apparatus
for composing individualized sales presentations from customer profiles. The
sales
presentations are mufti-media presentations composed from a database of
presentation
segments arranged in categories. U.5. Patent No. 5,680,305 to Apgar, IV
discloses a
system which provides business real estate reports. The reports present data
related to a
real estate portfolio held by a business in order to allow the business to
assess the
efficiency with which money is spent on real estate. The reports are
calculated from a
database which contains information relating to the real estate holdings of
the company.
Despite their success, current business models for real estate companies
have several shortcomings. Often, the homeowner is left trying to manage
repairs and
improvements with little more than a telephone book for assistance. Further,
customer
relationships are not maintained throughout the lifetime of the customer. As a
result,
the customer may engage several real estate companies and even more sales
agents
throughout their lifetime.
Furthermore, investments in technology to overcome some of these
barriers above can be cost prohibitive even for larger organizations. Under
these
circumstances, a further need exists for a proven way to manage customer
relationships,
which is easy to implement and use, and yet affordably priced so that small
size
organizations can take advantage thereof. Moreover, the system and method
would
utilize the Internet to provide full-time remote access and efficient storage
and transfer
of information.
In view of the above deficient systems and methods for managing real
estate related relationships, there is a need in the art for an improved
system and
method for effectively and profitably managing the customer relationships of a
real
estate company. Particularly, it would be beneficial to provide a system and
method
which utilizes a distributed computing network to facilitate managing customer
relationships and the information appertaining thereto.
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SUMMARY OF THE INVENTION
The subject invention is directed to a system and method for managing
customer relationships throughout a real estate transaction cycle over a
distributed
computer network.
The method includes the steps of receiving and storing data relating to a
plurality of customers including buyers and sellers of real estate in a
computerized
database. The data includes active order data describing real estate related
services
ordered during the real estate transaction cycle, completed order data
describing real
estate related services completed during the real estate transaction cycle and
scheduling
data describing real estate related services scheduled during the real estate
transaction
cycle. The method further includes the steps of updating the active order
data, the
completed order data and the scheduling data upon the performance of a real
estate
related service ordered during the real estate transaction cycle and providing
customers
with secure access to the computerized database to facilitate monitoring of
the active
order data, the completed order data and the scheduling data.
In one embodiment, the method further includes the steps of receiving
and storing real estate related documents in the database for subsequent
review and
retrieval by a customer as well as receiving and storing mortgage data
relating to terms
of a mortgage executed during the real estate transaction cycle. In another
embodiment, the method further includes the step of providing a customer with
an
electronic checklist associated with each of a plurality of phases of the real
estate
transaction cycle to enable the customer to order real estate related
services.
These and other unique features of the system and method disclosed
herein will become more readily apparent from the following description and
the
accompanying drawings.
BRIEF DESCRIPTION OF THE DRAWINGS
So that those having ordinary skill in the art to which the disclosed
system and method appertains will more readily understand how to make and use
the
same, reference may be had to the drawings wherein:
FIG. 1 is an overview of an environment in which an embodiment of the present
invention may be used;
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FIG. 2 is a graphical overview of the partitioning of a Web site in accordance
with an embodiment of the present disclosure;
FIG. 3 is an example of a Web page relating to an activity file in accordance
with an embodiment of the present disclosure;
FIG. 4 is an example of a Web page relating to vendor information in
accordance with an embodiment of the present disclosure;
FIG. 5 is an example of a Web page relating to services sold to a member in
accordance with an embodiment of the present disclosure;
FIG. 6 is an example of a Web page relating to a service evaluation form in
accordance with an embodiment of the present disclosure; and
FIG. 7 is a flowchart depicting a process for managing contact relationships
relating to real estate in accordance with an embodiment of the present
invention.
DETAILED DESCRIPTION OF THE PREFERRED EMBODIMENT
The present invention provides a system and method for managing
customer relationships relating to real estate transactions. The system and
method
allows sales, management and administrative personnel of a real estate company
to
gather, process, provide and utilize data relating to contacts, listings and
vendors in an
efficient and profitable manner. In the description that follows, the terms
"Contacts"
and "members" are used interchangeably. Contacts and members shall refer to
buyers
and sellers of real estate who have engaged a proprietor of the subject system
and
method. Additionally, the system and method provide contacts with convenient
access
to information relating to their real estate transactions and vendors of goods
and
services.
In accordance with a preferred embodiment of the system, each of a plurality
of
different users perform different functions. Users are people who interact
with the
subject system and method. For example, the real estate company, sales agent
and
contacts access information relating to real estate transactions stored in a
database. In
particular, administrative personnel monitor activity related to a listing.
Contacts who
are sellers of real estate are associated with a listing. A listing is a
property that is
offered for sale. Further, the administrative personnel provide reminders and
available
goods and services, preferably at a discount to contacts, by utilizing the
system and
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method of the subject invention. Further, a proprietor of the subject system
and method
can maintain a center of administrative personnel to allow small real estate
companies
access on a rental basis.
Refernng to FIG. 1, there is illustrated a schematic representation of an
environment 10 in which the system and method of the present invention may be
implemented. Environment 10 includes server 12, which communicates with a
distributed computer network 22. Server 12 hosts multiple web sites, houses
multiple
databases and runs the software to support the system and method of the
subject
invention.
It is envisioned that environment 10 may incorporate one server or
multiple servers to achieve the desired performance necessary from server 12.
Multiple
servers can cooperate to facilitate greater performance and stability of the
subject
invention by distributing memory and processing. U.S. Pat. No. 5,953,012 to
Venghte
et al. describes a method and system for connecting to, browsing and accessing
computer network resources and is herein incorporated by reference in its
entirety.
Similarly, U.S. Pat. No. 5,708,780 to Levergood et al. describes an Internet
server
which controls and monitors access to network servers and is also herein
incorporated
by reference in its entirety.
In a preferred embodiment, the memory of the servers stores a
multiplicity of databases. The databases contain data relating to advertising,
sales
agents, contacts, listings, vendors, and the real estate company. It is
envisioned that
advertising databases relate to advertising copy, advertising companies,
advertising
placements and advertising requests by contacts and sales agents databases
relate to
sales agents, agent financial information, appointments, agent goals, goal
weighting,
agent MLS codes and agent phone numbers. Databases for contacts preferably
consist
of tables relating to contacts, contact mailings, contact referrals and
contact types.
Listing databases preferably relate to listings, listing agent, listing MLS,
lock boxes,
MLS, MLS data, open house requests, picture references, garages, new home
referral
fees and showing information. Vendor databases preferably relate to relocation
companies, relocation fee percentages, relocation company phone numbers,
signs, sign
vendors, mailings to vendors and the like. Real estate company databases
preferably
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consist of attorneys, commission splits, company commissions, forms, types of
mass
activities, report tables, sale transactions, sales agents, sale commissions,
sale contact,
security, sellers attorney, offices, office commission fees, office MLS,
office phone,
regions, region commissions, surveys, survey choices, survey questions, survey
response, system identifiers, system tables, trustee tracking, user messages,
user roles
and user sessions. In a preferred embodiment, the databases are used in a
relational
arrangement so that they relate to one another by way of fields that store
common data.
Distributed computer network 22 may include any number of network
systems. For example, distributed computer network 22 may be a combination of
local
area networks (LAN), wide area networks (WAN), intranets or the Internet, as
is well
known. In the preferred embodiment, the computer network 22 is the Internet.
The
preferred method of accessing information on the Internet is the World Wide
Web,
because navigation is intuitive and does not require technical knowledge.
Client computers 16(1)-16(n) are associated with users. When used
herein, variables such as "n" and "m" are in no way intended to limit the real
or
potential number represented. Users of the subject invention include contacts,
sales
agents and personnel associated with a real estate company. The real estate
company
engages sales agents who manage the contacts. Personnel associated with the
real
estate company may be any combination of a technical system analyst, a move
consultant, a sales manager, accounting personnel and the like, who work
directly or
indirectly for a real estate company.
In a preferred embodiment, a plurality of move consultants are
associated with consultant computers 18( 1 )-18(m). The consultant computers
18( 1 )-
18(m) are located at a central location or call center 40. Preferably, the
proprietor of
the subject invention provides or causes to be provided server 12, call center
40 and the
personnel necessary thereto to maintain the proprietor's relationship with its
contacts.
In another embodiment, a central entity creates call center 40 in order to
rent capacity
to a multitude of real estate companies. Thus, smaller real estate companies,
which
would not otherwise be able to afford the benefits offered by the subject
invention, can
lease the service provided by call center 40 in proportion to usage. Further,
a single
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contact database is created which includes all the contacts for all the real
estate
companies and entities who utilized the subject system and method.
A plurality of users may share the same client computer 16(1)-16(n) and
consultant computer 18(1)-18(m). The plurality of users can utilize the system
10
simultaneously from the same location or a variety of locations. The computers
16(1)-
16(n) allow users to access information on the server 12. The computers 16( 1
)-16(n)
communicate with the distributed computing network 22 via communication
channels
30(1)-30(n), respectively. The communication channels 30(1)-30(n), whether
wired or
wireless, are well known and therefore not further described herein. It is
also
envisioned that users can communicate with server 12 by a direct connection
thereby
alleviating the need for authentication. Preferably, the consultant computers
18(1)-
18(m) of call center 40 are only available to personnel employed by the
proprietor.
The users can communicate with the move consultants via email over
distributed computer network 22. Additionally, users can communicate with the
move
consultants over telephones 22(1)-22(n) using standard telephone lines as
represented
generally by connection 25. When a move consultant communicates with a user
over
telephone 24(1)-24(n), the move consultant enters comments into a computerized
database in server 12 documenting the communication with the user.
Referring now to Fig. 2, a schematic diagram of a Web site 80
configured according to a preferred embodiment of the subject invention is
illustrated.
Web site 80 has a general public section 82, an advertising administration
section 84,
an activity files section 86 and a Web reporting section 88. Web site 80
includes a
plurality of Web pages, links and the like. Preferably, server 12 hosts the
Web site 80
although a single server or multiple servers could host the Web site 80 to
increase
performance and reliability as required.
I. General Public Section
General public section 82 is information which can be viewed by any
user having a client computer 16(1)-16(n) with a Web browser. Information
available
to the general public includes a buyer's guide and a seller's guide. Each
guide presents
Web pages to provide information and resources to assist a contact with every
phase of
the buying and selling process: It should be recognized by those skilled in
the art that
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the terms "Web page", "video display" and "screen" may be used interchangeably
and
are used in this manner throughout the specification.
The buying and selling processes have five phases each. The buying
process consists of "thinking", "looking", "buying", "closing" and "post-move"
phases.
The selling process consists of the "thinking", "getting ready", "listing",
"negotiating"
and "closing" phases. In particular, the buyer's guide and seller's guide
provide
information specific to each phase.
a. Buyer's Phase I - Thinking
In one embodiment, the buyer's guide provides information to
individuals who are thinking about purchasing a home, i.e., phase one of the
buying
cycle. A spreadsheet can be provided to aid a user in ascertaining whether
they should
rent, buy, move or remodel. For example, a table can be provided to compare
the cost
of moving with that of remodeling. According to the American Homeowners
Foundation, the expense of moving is roughly equal to 8 to 10 percent of the
selling
price of your house. Therefore, if the improvements will cost less than 8 to
10 percent
of the resale value of the house and provide the desired qualities, it is more
economical
to remodel than move. Additionally, remodeling information is provided such as
what
percentage of the remodeling cost becomes attributed to the value of the home.
The
percentage being a variable based upon the type of remodeling project. For
renters, the
Web site provides a mortgage payment correlating to their existing rent
payment and
for current homeowner considering a move, the Web site clearly explains the
circumstances under which the capital gains on the future sale would be
treated.
The buyer's guide would also help a contact view current listings of
properties through an agent associated with the proprietor or a Multiple
Listing Service
(hereinafter "MLS"). A MLS is a book which shows available inventory within a
local
or regional market. Guidelines and calculators are provided to help users
determine
how much they can afford and what the mortgage payments would be. If the buyer
has
already participated in the subject invention, a move consultant can offer the
goods and
services associated with the thinking phase.
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b. Buyer's Phase II - Looking
The buyer's guide provides information for individuals who want to
actively look for a new home, i.e., phase two of the buying cycle. Information
is
provided to show the importance of the real estate agent. For example, an
agent should
be accredited with a reputable organization and provide contacts with a move
consultant.
A potential buyer or seller of real estate who engages an agent utilizing
the subject system and method becomes a member of the proprietor's program.
Engagement typically requires the contact to sign a representation agreement
with the
proprietor or a real estate company associated with the proprietor. Members
are
assigned move consultants and given access to restricted portions of Web site
80. The
move consultant assists members and agents by coordinating and managing all
aspects
of the real estate transaction. Within the restricted portions of Web site 80,
a contact
activity file specific to each member tracks savings, house and mortgage
documents,
and maintenance in and on the member's past, current and future homes. Thus,
when
improvements are made, a record is established to demonstrate the value the
member
added to their home. Further, the electronic copies of title documents and the
like
alleviate the need for the contact to maintain a safety deposit box for such
items.
The agent also serves as the contacts "eyes" and "ears" in the
community and represents the contact's interests in matching their lifestyle
to their
future community or neighborhood. A sales agent maximizes value for the member
by
listing their home, facilitating purchase of a new home and providing
opportunities for
savings and convenience through the move event. Further, a link is provided to
local
agents to allow the user to contact a real estate broker directly or through a
move
consultant. It should be recognized that "agent", "real estate agent", "sales
agent" and
"real estate broker" are used interchangeably throughout the subject
disclosure.
Still referring to the buyer's guide located in general public section 82,
the significance of the initial meeting between a user and an agent is also
represented
by a Web page. At the first meeting, the agent reviews and explains any
required
forms. Forms may vary from state-to-state so the local agent is most familiar
with the
required forms. At the first meeting, the agent should also provide disclosure
of any
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real estate agency relationships. The contact should provide the agent with
information
about desired house style, family needs and an affordable price range. The
local agent
is the best resource for general information on the community and the most
current
home values, schools and crime rates in the desired neighborhood. The agent
can also
help a contact complete an application for pre-qualification at the first
meeting if
engagement occurs. The benefit of pre-approval at the looking stage is that
pre-
approval provides a negotiating advantage as a cash-buyer without a mortgage
contingency. The move consultant assigned to the contact can arrange for the
mortgage
pre-qualification from the proprietor or a third party lender.
During phase two of the buying cycle, the agent increases the efficiency
of the contact's home search by previewing homes prior to showing it to them.
Thus,
the contact only tours homes which match the contact's criteria. Further, the
agent
notifies a move consultant of the member's activity. The sales agent shows
houses
found by the contact and the agent, whether through the Internet, MLS or the
like.
Typically, agents are privy to information about houses soon to enter the
market before
it is general knowledge. Thus, the agent provides their member's with valuable
advance
knowledge.
c. Buyer's Phase III - Buying
The buyer's guide also provides information for individuals at the stage
of buying a new home, i.e., phase three of the buying cycle. In order to buy a
property,
the contact must make an offer to the seller. The agent can provide the offer
or initial
contract which is usually pre-printed with fill-in the blank fields. The terms
of offer
will include sale price, a mortgage contingency clause, necessary inspections
and a
settlement/closing date. T'he agent can provide a good estimate as to what the
offer
should be on a house. Typically, the agent and contact will determine together
the offer
price based on demand for housing in the particular price range and style and
how
many houses are currently for sale in the particular price range and style. An
agent can
even provide a list of list price versus sales price in the neighborhood or
general
vicinity that occurred in the past six months and how those homes compare to
the home
under consideration by the buyer. However, the buyer always specifies the
amount of
the mortgage and the rate. The necessary inspections on the offer can include
termite,
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pest, general home, well, septic, and radon inspections. Preferably, the agent
can time
the contact's closing date for the end of the month for a grace period of 30
days before
the contact's first mortgage payment is due. Additionally, the agent will
review seller's
disclosures with the contact. Disclosures include any environmental hazards
and any
previous mechanical or structural problems or changes.
Typically the sales agents negotiate the terms of the purchase contract.
If the terms of the offer are acceptable to seller, the purchase contract is
signed and
becomes binding. If original terms are not accepted, the seller will counter
with
different terms, different dates and the like which are more favorable to the
seller.
Most offers are countered because of sales price and closing date. If
renegotiated terms
are accepted, each of the changes made in the initial contract must be
initialed by both
buyer and seller. The buyer counter offers and seller counter offers can
continue
through several revisions.
Upon agreement between the buyer and seller, the move consultant and
agent facilitate finding a settlement attorney or escrow agent as needed by
the contact.
In one embodiment, the move consultant associated with the contact can arrange
to
have information on loan programs sent to the contact. The proprietor would
earn a
commission based upon such referrals. In another embodiment, the proprietor
would
be a licensed mortgage brokers in one more states and provide a mortgage
directly to
the contact with the assistance of the move consultant.
In order to fulfill the purchase contract commitments, the move
consultant coordinates the environmental inspection, home inspection,
insurance
approval, lender title search and pest inspection. Further, the move
consultant arranges
appliances, carpeting, flooring, landscaping, painting of the new home and the
like for
the member. The move consultant offers home warranty on major appliances and
home
mechanical systems which provides security for the year following the purchase
of the
new home.
d. Buyer's Phase IV - Closing
In preparation for closing, i.e., phase four of the buying cycle, the move
consultant coordinates and orders the services needed including estimates for
moving
van services and the like. In a preferred embodiment, the goods and services
are
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offered at a discount due to the open market price due to the mass buying
power the
move consultant represents. Further, the proprietor receives a commission or
referral
fee from the vendors who provide goods and services through the move
consultant.
Moreover, the proprietor receives a fee for granting access to the members.
Without
limitation, the fees can be derived from advertising on the Web site, lists of
member
contact information and as a result of move consultants offering the vendors
goods and
services. The lists of member contact information are particularly valuable
because
new homeowners are a key target demographic for a large number of vendors.
Prior to closing, the agent Sales Agent facilitates a property walk-
through. On the walk-through, usually 24 hours prior to closing, the agent
usually
accompanies the buyer on a final inspection of the home prior to closing. The
walk-
through ensures all agreed on repairs are completed, all items to be included
with house
are in the house and the like.
e. Buyer's Phase V - Post-move
After closing, the buyer enters phase five of the buying cycle. During
phase five, the move consultant coordinates delivery of the moving van. As
noted
above, goods and services provided through the move consultant are preferably
offered
at a discount and the proprietor receives a referral fee. In particular, the
move
consultant provides an activated phone or cell phone information to the movers
for the
movers arrival and insures that someone should be available to meet the movers
at the
new location to let them in and direct the mover's placement of boxes and
furniture.
The move consultant also has copies of keys made for each family member.
Moreover, the move consultant facilitates the settling in process by
arranging for a security system at a member discount. Additionally, the move
consultant may arrange for goods and services such as appliances, decorating,
carpeting, painting, curtains, flooring, furniture, interior decorating,
lighting,
upholstery, remodeling, electrical contractors, plumbing, windows,
landscaping, lawn
maintenance, dogwalking and the like.
Still referring to general public section 82, the seller's guide provides
information to help people understand what is involved when selling a home.
Similar
to the buyer's guide, the seller's guide helps members maximize the value of
their time
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and assets by outlining important points to consider relating to the various
phases of the
selling cycle.
f. Seller's Phase I - Thinking
During phase one of the selling cycle, when individuals are thinking
about selling a property, the seller's guide provides information regarding
agents and
financial costs associated with moving. Further, remodeling information is
also
included to help potential sellers determine if remodeling may be appropriate
instead of
moving.
g. Seller's Phase II - Getting Ready
For phase two of the selling cycle when the contact is getting ready to
sell a home, the selling guide details the appropriate actions for the seller
and agent.
For example, an agent should conduct an initial walk-through of the seller's
home.
During the initial walk-through, the agent does a mental market assessment of
the
home, yard and curb appeal. The agent pays particular attention to
improvements that
will help the property show well. To maximize the value of the contact's home
the
agent will explain what needs to be done. Upon determination of a plan to
ready the
home for showing, the move consultant offers and coordinates delivery of
whatever
goods and services are necessary such as appliances, home decorating services,
carpets,
carpet cleaning, cleaning services, floor refinishing, heating and air
conditioning
system repair, lawn services, painting, general repairs, roofing, siding and
the like.
Goods and services can be supplied by local and national vendors. Such
substantive
and cosmetic changes enhance the marketability of the seller's home and
provide an
adequate return in either market time or potentially a higher price. Market
time is the
duration of time a listing remains on the market before it is sold. Further,
an agent can
determine if an inspection should be done in order to make minor repairs in
advance to
what a buyer's inspection may reveal. As noted above, preferably, the move
consultant
offers the goods and services at a discount to the open market price and the
proprietor
earns a referral fee for each item rendered through the move consultant.
Still refernng to phase two of the selling cycle, the agent will also
explain the listing process to the seller including the terms of a listing
contract. The
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agent also explains disclosure forms and reviews any forms such as agency
disclosure
or property condition disclosure forms that are required by law.
h. Seller's Phase III - Listing
The first step in the seller listing their property, i.e. phase three of the
selling cycle, is to determine the list price of the seller's home. In order
to determine
the list price of the seller's home, the agent undertakes a market analysis to
help
determine a listing price. A market analysis evaluates data from historical
sales such as
demand indicated by what similar homes in the neighborhood have sold for in
the past
3-6 months. The more recent the sale, the better comparable the sale is to the
seller's
home value. The farther from the neighborhood the home is, the less comparable
the
prior sale is. Market time is also a factor in determining market demand. The
supply
of similar homes and condition of the seller's home are additional pieces of
information
to determine market demand. An experienced agents has first hand knowledge of
condition of both recently sold homes and current inventory and will point out
how
they compare to the seller's home. The agent also notes differences between
such
homes which either impact the sale negatively or positively and ultimately
affect the
listing price. Ultimately, the agent will suggest to the seller a listing
price range to help
the seller determine a final list price. A good listing price is one that the
seller offers
the buying public as their estimation of what the house is worth in comparison
to other
local housing values.
Once the list price is determined, the seller and the sales agent should
develop a home marketing plan. The home marketing plan is more than a listing
on the
MLS or a display on the Internet. The seller's sales agent will discuss the
potential
buyer's profile for the home and the best possible marketing plan to attract
that buyer.
Of course, the seller is required to sign a listing agreement. The listing
agreement defines the listing price, items which are included in the home,
terms with
the sales agent and the commission that will be paid to the brokerage firm and
any
cooperating brokerage firms. The broker's commission is negotiable. Each local
office
associated with the proprietor can prepare their own local seller's guide to
use as a
sample listing agreement for their clients in the region.
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Additionally, a co-broker commission may be required. Typically, the
selling broker receives a selling broker commission which is separate from the
listing
commission the seller's listing broker receives. The total commission, both
listing and
selling, are then shared with the listing agent and selling agent. Under usual
circumstances, the move consultant will arrange a home warranty for the
seller. The
home warranty covers major appliances and components in the home. A warranty
provides peace of mind to the buyer and reduces inspection issues.
i. Seller's Phase IV - Negotiating
Negotiating, the fourth phase of the selling cycle, includes effectuating
the marketing plan and negotiating an offer. Submitting the property listing
to a MLS
is the traditional first step in effectuating the marketing plan.
Subsequently, sales
agents will schedule appointments to show the property. Often times, a
computer
listing will go out to all local agents within twenty-four hours of listing,
so the seller
should be prepared for showings.
Preferably, placement of a "For Sale" sign outside the property is
arranged by the move consultant. Upon instruction from the agent or seller,
the move
consultant contacts a sign vendor associated with the subject business method.
The
"For Sale" is used to generate interest from observers and may further include
a factual
sheet containing detailed information regarding the property. Once again, in
the
preferred embodiment, the sign is posted at a discount and the proprietor
receives a
referral fee. Thus, the contact saves time and money while the proprietor
earns a
revenue stream. Further, when a move consultant helps the contact and agent,
the agent
is free from administrative responsibilities in order to pursue other
responsibilities.
Still referring to phase four of the selling cycle, an open house for broker
preview can be held. This presents an opportunity for all local real estate
agents to see
the features of the seller's home. Typically, the sales agent hosts the open
house for
brokers as well. Therefore, the seller does not need to be present.
To implement the marketing plan, the sales agent and seller will
determine a timetable of execution. The sales agent, with the assistance of
the move
consultant, keeps the seller informed of marketing and showing activity on the
property. The sales agent may even hold multiple open house showings for the
public.
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Preferably, the general public open house is held on a weekend and advertised
to the
general public. Once again, the move consultant facilitates placement of the
related
advertising. The sales agent hosts the Open House to ensure that there are no
unaccompanied prospects in the property.
Upon receipt of an initial offer to purchase or commonly "offer" from a
potential buyer, the sales terms must be negotiated. The buyer's sales agent
will deliver
the offer to purchase to the seller's sales agent. The seller's sales agent
reviews offers
and forwards them along to the seller for consideration. The offer is usually
pre-printed
with fill-in the blanks. Typical terms of the offer will include: sales price;
mortgage
contingency clause; and the buyer specifies the amount of mortgage and the
rate. A
deposit may also be required to accompany the offer as earnest money. The
deposit is
usually refunded if the buyer is unable to get a mortgage under the proposed
terms.
Similar to phase two of the buying cycle, prior to agreement, necessary
inspections may include: general home inspections; pest inspections; radon
inspections;
septic inspections; termite inspections; and well inspections. An additional
term of the
agreement may be a settlement closing date.
If terms are acceptable to the seller and the buyer, the contract is signed
and becomes binding. If original offer terms are not acceptable, the seller
may counter
with more favorable terms or dates. As noted above, most offers are countered
because of sales price and closing date. Buyer and seller counter offers can
continue
through several revisions over the course of days, weeks and even months. As
noted
above, each of the changes made in the initial contract offer must be
initialized by both
the buyer and the seller once agreed upon.
The sales agents provide a copy of the executed contract to attorneys,
escrow agents and the like. The Sales Agent with the assistance of the move
consultant
keeps the seller updated as to the status of the buyer meeting any
contingencies such as,
without limitation, the mortgage provision contained in the purchase contract.
j. Seller's Phase V - Closing and Moving
Phase five for the seller is closing and moving. Once again, the move
consultant assists the sales agent and seller by tracking information and
coordinating
goods and services. The sales agent and move consultant communicate a wealth
of
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information to the seller during the closing phase such as buyer status for
mortgage
commitment and other contingencies. Generally, a mortgage commitment will be
approved in 15-30 days. Property inspection results are also tracked by the
sales agent
with the assistance of the move consultant. If a repair is required, the buyer
and seller
may negotiate further on the repair issues. Preferably, the move consultant
arranges for
discount goods and services as may be required to address the repair issues.
Thus, a
record is maintained which documents the activity of the home. Such
maintenance
records increase the marketability of the property. Occasionally, the seller
will have to
offer a home warranty to alleviate the concerns of the buyer. The move
consultant will
also assist the sales agent in confirming the closing date with the buyer and
seller.
Preferably, the move consultant coordinates closing activities such as,
for example: moving van services; utility disconnections and new connections
for the
buyer; and repairs negotiated from the inspection report. In a preferred
embodiment,
the proprietor of the call center 40 also provides mortgage services and any
other
possible real estate related good or service. It should be noted that the
subject
disclosure contemplates that the move consultant always offers members goods
and
services at a discount and the proprietor always earns a referral fee for
goods and
services of third party vendors placed through the move consultant.
At the closing, the seller's agent will accompany the buyer and the
buyer's agent through the final property inspection. Usually the final
property
inspection occurs twenty-four hours before the closing date. If all agreed
upon repairs
are not complete by the final inspection, part of the proceeds from the
transaction can
be held in escrow. Both the buyer and the seller attend the closing unless the
buyer or
seller has already processed their requirements of the closing in advance. The
buyer's
sales agent may also attend the closing at the request of the buyer. The
buyer's and
seller's attorney attend the closing, which is usually held at the seller's
attorney's office
or at a mutually agreed location.
At the closing, settlement services may be required to be provided by the
seller. Various lenders have forms which outline such required settlement
costs.
Settlement costs increase the cost of closing. The settlement costs can be
between ten
to thirteen percent of the total house price. Broker commission is a
settlement cost and
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defined as the total dollar amount of the real estate broker's sales
commissions (usually
paid by seller). The commission is typically a percentage of the sale price of
the home.
Fees lenders charge to process, approve and make mortgage loans are also a
settlement
cost. Another settlement cost would be a loan origination fee which is
commonly
known as "points". The points covers the lender's cost to process the loan.
Often, the
points are charged at the time of application. Loan discounts, also known as
points, are
one time charges imposed by lender to lower the interest rate at which the
lender would
otherwise offer the loan. One point is equal to one percent of the mortgage
amount.
Appraisal fee and credit report fee which shows the buyer's credit history is
also a
settlement cost. The credit report is used by the lender to determine whether
to approve
the loan. Through the subject system and method, the move consultant can
provide
access to several lenders who submit potential mortgages. In another
embodiment, the
proprietor of the call center is a mortgagor and the move consultant provides
a
mortgage offer to the buyer from the proprietor. The lender inspection fee and
new
construction inspection fee are also settlement costs. The mortgage insurance
application fee covers processing the application for mortgage insurance as
lender
require on loans with less than twenty percent of a down payment. An
assumption fee
is charged when the buyer assumes or takes over the seller's existing mortgage
loan. A
mortgage broker fee is paid to the mortgage broker for their services. In a
preferred
embodiment, the proprietor of the call center 40 is a mortgage broker.
Additional fees are usually required by the lender to be paid in advance
of closing. For example, the interest on the mortgage loan that accrues from
settlement
date to the first monthly payment is required to be prepaid. The mortgage
insurance
premium may require either the first year prepaid or a lump sum that covers
the life of
the loan when less than twenty percent is used as a down payment. Often, proof
of
hazard insurance by buyers is required to bring to the closing proof,
therefore the first
year's policy of hazard insurance is usually prepaid. Lenders may also require
a
prepayment of flood insurance. Escrow account deposits are also settlement
costs.
Property taxes are an example of escrow accounts which are set up by the
lender. The
variety of services performed by title companies or others involved in
settlement are
also required prior to closing.
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It should be noted that the closing and settlement fees noted above are
not exhaustive and more or less of such fees may be required as is known to
those
skilled in the art. For example, a settlement fee paid to the settlement agent
or escrow
holder may be required. Responsibility for payment of the settlement fee can
be owed
by the buyer or the seller. An abstract of title search, title examination and
a title
insurance binder can be required as preparation of final legal papers and,
thus, a fee for
each may be required. A Notary Fee for notarizing legal documents and
Attorney's
Fees for legal services provided to the lender may also be charged. The cost
of the
buyer's and seller's attorney may also appear as a closing or settlement cost.
Title
Insurance, Lender's Title Insurance and Buyer's Title Insurance are also
common costs.
The government may require fees for recording and transferring ownership. Most
of
the noted fees may be paid by the buyer or seller depending on local custom or
agreement between the parties. The buyer usually pays fees for recording the
new deed
and mortgage. Transfer taxes are set by the state or local government. City,
county
and state tax stamps may have to be purchased. An evaluation of paint hazard
risk may
also be a required fee. Homeowner Association dues, special assessments, fuel
and
other utilities will often be allocated and prorated between the buyer and
seller. At
closing, the seller usually provides keys and access to house unless other
arrangements
are made. It is envisioned that the move consultant may help with some or all
of the
fees and tasks above. Further, the proprietor may directly offer such services
instead of
earning a referral fee.
While most sellers broom clean the home, the move consultant can offer
a more thorough cleaning solution such as a professional cleaning service and
house
painting. Preferably, the services coordinated through the move consultant are
provided at a discount price relative to the open market due to the increased
leverage
resulting from the mass buying power that the proprietor of the call center 40
represents. In one embodiment, the proprietor collects a referral fee from
such
coordination by the move consultant. Preferably, the move consultant can
provide the
buyer with any appliance booklets and any other instructions on home
mechanical
systems at the closing.
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In addition, the general public portion 82 of the Web site 80 will provide
information about the service provided by the proprietor therethrough.
Preferably, the
general information will explain the responsibilities of the sales agent and
move
consultant as well as the features of the Web site 80. Further, portion 82
will allow
users to become members through electronic mail.
II. Advertising Administration Section
Advertising administration section 84 of Web site 90 provides an
interface to allow creation of advertisements for posting on Web site 90.
Further,
advertising administration section 84 allows for managing, editing and
deleting the
advertisements by an authorized advertising manager. It is envisioned that the
advertising manager works for the proprietor of the call center 40. However,
it will
also be appreciated that access to the advertising administration section 84
may not be
restricted to only the advertising manager. Thus, third party entities who
utilize the
subject invention on a rental basis can create, modify and manage their own
advertisements on Web site 80 using the interface. In another embodiment, the
advertisements created using the interface can be exported for display on any
Web site.
III. Activity File Section
Activity files section 86 of Web site 80 allows a client to enter a secure
environment within which specific information relating to the client is stored
in a
computerized database. The activity files section 86 securely stores the
client's
important homeownership papers, creating a financial record of their most
important
asset. Thus, a record is established to demonstrate the value added by the
homeowner
to their property.
Preferably, the move consultant assists the member in creating a secure
and accessible history or "activity file" in activity files section 86. The
activity file
organizes and maintains the member's closing and moving schedule. Further, the
activity file documents and records all the member's real estate transactions,
including
closing documents, records of home-related purchases, accounting of
expenditures and
savings garnered as a result of participation.
Preferably, members use the personal and secure Web pages associated
with their activity file as the portal to a multitude of services. The
activity file keeps
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the member up-to-date on every aspect of their move and homeownership. The
activity
log tracks when products and services will be delivered; when installations,
connections
and disconnections will be completed; the status of each outstanding product
and
service ordered by the member; what the member has spent; and what the member
has
saved by participating in the subject invention. The member uses the activity
file to
order additional purchases and schedule services, or e-mail their move
consultant to
manage such tasks for them. The activity file allows the member to maintain
and
analyze records for all transactions related to their home ownership whether
the contact
is buying, selling or enjoying a home. Access via the Internet is secure and
always
accessible. Further, the activity file stores mortgage papers, closing and
settlement
documents, records of home-related purchases and property taxes for the
contact. The
activity file tracks the contact's purchases from vendors who participate
within the
subject invention. The records established in the activity file accurately
document the
value added to a contact's home which facilitates resale and refinancing.
Still further,
the activity file serves as a home maintenance organizer. In particular, the
contact can
record details about their heating, air conditioning, pool, and other systems.
When
given permission, a member can be notified when such systems need service and
about
member discounts for that service. If desired, the move consultant can
schedule the
service call for the member. Additionally, the activity file can be a personal
organizer
for the member. Birthdays, anniversaries, vacations, other like events can be
stored
within the activity file. The subject invention and the move consultant will
remind the
member of the event and help prepare for the occasion.
In one embodiment, members use their activity file as the portal to all of
the services available from the proprietor. The activity file keeps members up-
to-date
on every aspect of the buying phase, selling phase and homeownership. The
activity
file tells you: when products and services the member has ordered will be
delivered;
when installations, connections and disconnections will be done; the status of
each
outstanding product and service order the member has; what the member has
spent; and
what the member has saved.
In one embodiment, members use the activity file to order additional
purchases and schedule services, or inform the move consultant to manage such
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services for them. The activity file allows members to maintain and analyze
records for
all transactions related to home ownership, buying and selling. Secure, and
always
accessible, the activity files section 86 is an electronic storehouse for
member mortgage
papers, closing and settlement documents, records of home-related purchases
and
property taxes. The activity files track contact's purchases from vendors,
helping the
contact measure their savings while maintaining the records that establish the
value
added to the contact's home.
Further, the activity file can be a home maintenance organizer for
members by: recording details about heating, air conditioning, pool, and other
systems;
notifying, with permission, when these systems need service; and informing
members
about member discounts for such services. Preferably, the move consultant
schedules
the service calls for the members if the member so desires. The activity file
also
records birthdays, anniversaries, vacations and other scheduled events. If
desired by
the member, the activity file will remind the member about upcoming deadlines
and the
move consultant will help members prepare for the upcoming event. Thus, the
activity
file content and features are convenient and customized to the member's
personal
preferences.
Referring now to FIG. 3, there is illustrated an exemplary Web page
forming part of an activity file. Server 12 displays the contact activity file
screen,
designated generally by reference numeral 300. Contact general area 310
contains
fields for holding contact name and address. Mortgage area 320 indicates the
history of
the contact real estate purchase. Preferably, the principal, interest rate,
term, type,
lender, monthly payment, start date, taxes and assessment are included in the
history of
the contacts real estate purchase. Checklist area 330 indicates any
appropriate phase
the contact may be in with respect to the buying and selling cycles. By
selecting the
phase, an associated checklist Web page (not shown) can be accessed. The
checklist
Web page items can be indicated as completed until all items are addressed and
the
next phase is entered. Further, the checklist area 330 shows the total savings
the
contact has garnered through participation in the proprietor's program.
Additionally,
the savings are subtotaled with respect to interior and exterior portions of
the contact's
home.
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Current requests area 340 contains three columns for vendors, status and
savings. The vendor column contains the name of any provider of goods and
services
engaged on behalf of the contact. The vendor may be any purveyor of goods and
services. Preferably, the vendor offers discounts to members and provides a
referral fee
to the proprietor. The status column indicates information such as ordered, en
route,
quote, information only to allow the contact or move consultant to determine
if any
action or follow up with the vendor may be required. If the goods and services
have
been ordered, the saving column indicates the discount received by the contact
in
relation to the corresponding goods and services. The "My Reminders" area 350
allows the contact to track personal events and deadlines by name, date and
tickler date.
The name of the personal event is stored in the event column. The date is
stored in the
event date column. A tickler date provides advance warning of the upcoming
event to
the contact and is shown in the reminder date column. As shown, a contact
would
create additional personal event lines by selecting an add option contained
within my
reminders area 350.
Still referring to FIG. 3, home improvements area 360 establishes a
record for the contact of the value which was added to the property. For
example, four
columns could represent the project, vendor, date and savings respectively.
The project
and vendor columns would indicate particular improvements to the contacts
property
and the entity which performed the task, respectively. Further, the date and
savings
would show when the project was completed and the savings received by the
contact as
a member of the program of the proprietor. As shown, a contact would create
additional home improvements lines by selecting an add option contained within
home
improvements area 360. Settlement documents area 370 contains links to
electronic
copies of the contact's important documents. For example, a contact can obtain
an
electronic version of a closing document and store it within the proprietor's
system.
Settlement documents area 370 has three columns for the document name, date
and
view. The document name and date identify what documents are present and their
respective dates. The view column indicates the place of storage within the
proprietor's
system and provides access when selected by the contact. Thus, the need for
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to maintain hard copies or a safety deposit box for their real estate related
and other
important documents becomes unnecessary.
IV. Web Reporting Section
Refernng once again to FIG. 2, Web reporting section 88 of Web site 80
provides a user interface to allow management to generate reports within
authorized
information constraints. For security, the potential users would include
contacts,
vendors, move consultants, managers of the proprietor and a marketing
operations
manager. The marketing operations manager has the function of maintaining the
Web
site 80 in an accurate and updated fashion. Preferably, the marketing
operation
manager has a list of responsibilities as follows: determines security
protocols; creates
and edits correspondence rules; creates, edits and deletes email templates;
retransmits
correspondence and service surveys; creates and edits letter and facsimile
templates;
adds, views and edits automatically generated tasks; reassigns contacts to
move
consultants; reassigns the tasks associated with contacts to different move
consultants;
adds and edits a move consultants records; adds, views and edits service
categories and
contact moving phase scripts; records vendor transaction payments; associates,
views
and edits completed service transaction fees with a vendor payment; adds and
edits
contact general information; edits a contacts service restrictions; edits a
vendor's
general information; adds and edits a vendor's contact information; adds and
edits a
vendor's contract information; adds and edits vendor's service information;
creates
vendor's Web advertisements; adds and edits clients, vendors, contacts and
agents; and
generates viewing reports. The marketing operation manager may be an employee
of
the proprietor of call center 40 or an employee of one of the entities using
call center 40
for a usage based fee.
Referring to FIG. 4, an exemplary Web page relating to a vendor in
accordance with the present disclosure is illustrated. Server 12 displays the
vendor
information screen, designated generally by reference numeral 400. Vendor
general
area 410 contains several user selectable fields such as vendor name, market
region,
primary contact, geographic address, email address, phone number, facsimile
number,
office phone number vendor number, status, Web site of the vendor, phone
directory
option and the like. Vendor general area 410 also contains a link to policy
information
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associated with the vendor. Preferably, the marketing operation manager would
enter
such data for access by the move consultant. Vendor contact area 420 provides
a name,
title, phone, facsimile, email and the like for individuals associated with
the vendor.
Thus, a move consultant can locate specific individual information to
effectively
address the issues for which they need to contact the vendor.
Referring to FIG. 5, an exemplary Web page relating to service provided
to a contact is illustrated. Server 12 displays the services sold screen,
designated
generally by reference numeral 500. Generally, a move consultant would refer
to the
services sold screen 500 when discussing the management of a contacts need for
goods
and services. It is envisioned that the contact between the move consultant
and contact
is by telephone, email, direct mail and the like. Alternatively, a contact may
directly
access the services sold screen 500 to manage their affairs. Further, links
may be
provided from the services sold screen to vendors to facilitate providing
requests for
proposals and ordering goods and services.
With continuing reference to FIG. 5, services available area 530
indicates the potential goods and services which a move consultant can
coordinate for
the contact. Preferably, the services available area 530 indicates only goods
and
services not yet provided to the contact. Goods and services which the move
consultant
has already provided the contact are listed in services assigned area 540. In
a preferred
embodiment, the move consultant simply drags a service the client orders from
the
services available area 530 to the services provided area 540 to maintain the
accuracy
of the ledger of services sold screen 500.
Refernng to FIG. 6, an exemplary Web page relating to service
evaluation is illustrated. Server 12 displays the service evaluation screen,
designated
generally by reference numeral 600. Generally, the service evaluation screen
600 is
automatically sent via the Internet to each contact when a good or service is
provided to
such contact. Thus, feedback is generated which allows the proprietor of the
subject
invention to maintain a high level of quality from their own employees,
vendors and
third party entities using the program on a usage basis. The results of the
survey form
depicted in service evaluation screen 600 are used to calculate the vendor
service rating
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and move consultant rating. In another embodiment, the survey form is printed
and
sent via mail or facsimile to the contact.
With continuing reference to FIG. 6, survey identification area 610
contains general information relating to the vendor and the goods or services
provided.
Preferably, survey identification area 610 includes a survey identifier, a
service
description, an agent, a counselor or move consultant with telephone
extension, a
vendor name, a vendor identifier and a contact. Alternatively, the survey
identification
area 610 could identify a party other than a vendor, as noted above. Move
consultant
area 620 contains questions relating to the performance of the move consultant
assigned
to the contact and Vendor area 630 contains questions relating to the delivery
of goods
and service provided by a vendor to the contact. In one embodiment, the move
consultant area 620 includes questions relating to promptness in returning
calls,
explanation of the program of the subject invention, general knowledge,
courtesy and
overall performance. Similarly, the vendor area 630 includes questions
relating to the
promptness in returning calls, promptness in contacting the contact, general
knowledge,
courtesy and overall performance of the vendor. Open comment area 640 allows
the
contact to compose a free-form critique regarding the performance of the move
consultant, vendor or any other aspect of the program implemented in
accordance with
the subject disclosure.
Although specific examples have been illustrated in FIG. 3, FIG. 4, FIG.
5 and FIG. 6, it will be appreciated by those skilled in the art that
variations or
modifications thereto will achieve the desired results necessary to practice
the subject
invention and as such is considered within the scope of the subject invention.
In one embodiment, third party entities utilize the software and know-
how of the proprietor to establish a call center to meet only the needs of the
third party
entity. Further, such third party entities create Web sites similar to Web
site 80. In
return for the assistance, the proprietor receives a licensing fee from the
third party
entities and referral fees from goods and services placed through vendors.
In a preferred embodiment, the products and services that transform a
house into a home are available through the move consultant and Web site 80,
and
managed, at the client's request, by the move consultant. Preferably, the move
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consultant develops a personal relationship with the client to recognize their
needs,
interests and schedule. Thus, the delivery of goods and services is
convenient, easy and
affordable for the client.
On an ongoing basis after a move, the move consultant will continue to
offer the client quality service and products relating to the new home for as
long as the
client owns the home. Preferably, the services and products are available at
discounts
only through participation in a program in accordance with the subject
disclosure. Such
goods and services would include home repairs, home security systems, major
appliances, lawn maintenance, exterior and interior painting and decorating,
home
cleaning services, home furnishings , environmental monitoring and controls,
heating
and Air Conditioning, travel planning and the like. The move consultant can
place the
order, track each transaction and measure the savings due to participation.
The
relationship between the client and move consultant evolves to where the move
consultant is a homeownership manager for the client.
Referring now to FIG. 7, there is illustrated a flowchart depicting a
process for managing a customer relationship based upon transactions relating
to real
estate in accordance with an embodiment of the present invention.
Initially, at step 100, when a contact decides to use the services of the
real estate company, the contact signs an agreement with a real estate agent.
A contact
may be a potential buyer of real estate and/or an entity desiring to sell a
particular piece
of real estate. Therefore, the agreement may be a buyer agreement or an
agreement that
the contact will list their real estate through the real estate company, i.e.,
a listing
agreement. As a result, a buyer and a seller would enter the "buying" and
"getting
ready" phases, respectively. Preferably, the proprietor of the subject
invention would
provide assistance with a sellers purchase of a new home as well as the sale
of the
seller's current residence. In such a circumstance, the agent would earn a
commission
from each transaction.
Upon engagement as a buyer or seller, the real estate broker assigns a
move consultant to the member. The move consultant acts as an assistant to the
agent.
Thus, the agent is able to focus on listing, selling and locating homes for
members. On
behalf of the agent, the move consultant is also an assistant for the member.
The move
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consultant is a professional specially trained to provide the member one-stop
access to
the services and products that people buying, selling and enjoying a home
require. The
move consultant works with the member to determine, schedule and coordinate
all of
the details of moving related with each phase of the buying and selling
process. Such
details include arranging movers, temporary storage, installing home security
systems,
making sure telephone and cable lines are connected, ordering appliances and
maintenance services. The move consultant also helps keep the maintenance
schedules
that retain the value of the contact's systems and appliances. The agent as
well as the
move consultant establish personal relationships with the contact. The move
consultant
uses the Internet and the software of the subject invention to give the
contact
convenience, control and value via telephone or e-mail. The move consultant
works
closely with the agent of the contact during all phases of the home buying and
selling
processes.
For example, a move consultant will provide a reminder to a contact
when annual cleaning of the heating and cooling system is required. For
another
example, a move consultant can facilitate opening and closing of a pool. If
the member
so desires, the move consultant can automatically schedule such routine
maintenance
and simply notify the member as to when the service will be performed. Any
such
offerings to the member by the move consultant are available at member
discounts.
Still referring to step 100, the data relating to the contact and listing are
entered into a computerized database which can be accessed through the Web
site 80 by
contacts and move consultants on an unlimited basis. The flexibility of remote
access
provides convenience for sales agents and, in turn, increased utilization. An
agent can
access information relating to each of their contacts and drill down with
respect to any
individual contact to determine the most up-to-date activity related thereto.
Members
have comparable access to activity related to their home transaction as well.
Preferably, the Web site 80 display a picture of the member's agent with
contact
information. In a preferred embodiment, the proprietor of the subject
invention hosts
Web site 80 and a local area network or "LAN" to provide access to the
features and
advantages of the subject invention as discussed herein and as would be
obvious to one
skilled in the art after familiarization with the subject disclosure.
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The subject invention provides for continuing communication with
contacts by creating a series of different data tables. These tables are
accessed and
exported for direct mail merges. After the mail merge jobs have been completed
and
confirmed, the program marks the contact record and sets the flags within the
listings
database and sales database to indicate completion of the mailing. The subject
invention also contemplates mining the data collected to publish a newsletter
which is
used as a marketing vehicle for the real estate company.
Still refernng to step 100, a secure activity file, as described above, is
created for the member. Preferably, the member has lifelong access to the
secure
activity file. The member can use the checklist provided within the activity
file to
prevent overlooking important details. Further, direct access via the Internet
to vendors
related to action items on the checklist is conveniently available via links
within the
activity file. Moreover, the member can scan documents and upload the
electronic
copies thereof for permanent storage with their activity file. Such documents
would
1 S include, without limitation, warranties, receipts, settlement documents
and title
documents. As a result of the combination of the agent, move consultant and
activity
file, the stress associated with the moving event is minimized for the member.
Still referring to FIG. 7, at step 110, the move consultant assigned to the
contact in combination with the agent assigned to the contact recommends
vendors to
supply various goods and services. The checklist associated with the current
phase of
the cycle provides a guideline for the appropriate goods and services. Sales
agents with
the help of the move consultant track contact activity.
At step 120, the move consultant coordinates delivery of products and
services. Upon completion of delivery, a survey form is automatically sent to
the
contact. Thus, as noted above, the proprietor can maintain high quality
standards.
Such services may include improving the curb appeal of the seller's property.
Additionally, once the seller's property is suitable for showing, the seller
would enter
the listing phase of the selling cycle. The move consultant and agent would
continue to
track activity related to the seller's property. For example, showing
appointments and
the improvements will be indicated in the activity file.
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As the property of the seller is viewed, potential buyers may submit
offers. Upon submission of an offer, the buyer enters the buying phase and the
seller
who receives the offer enters the negotiating phase at step 130. Preferably,
the sales
agent has also assisted the seller in the purchase of a new residence in the
same general
timeframe. It is also envisioned that the seller may have used a different
sales agent for
the purchase of their new residence because of geographical considerations and
the
like. In one embodiment, the seller who uses one sales agent to sell their
property and
another to purchase their new residence will only have one move consultant
assigned to
them because both agents will be part of the program of the proprietor.
Still referring to step 130, the buyer and seller negotiate to reach an
agreement and determine a closing date. Several rounds of offer and counter-
offer may
occur. If the buyer and seller reach an agreement, each will enter the closing
phase of
the cycle.
At step 140, the move consultant offers goods and services related to
1 S closing such as mortgage services, title search, inspections, professional
cleaning,
utility hook-ups and the like. As members of the program run by the proprietor
of the
subject invention, the move consultant can coordinate the delivery of the
goods and
services desired by the contacts. Upon completion of all the contingencies,
the buyer
and the seller proceed to closing and with the help of the services
coordinated by the
move consultant, the closing occurs.
At step 150, the contact is enjoying their home and the move consultant
remains in communication with the contact by email, telephone and mail as
preferred.
The on-going communication relates to offering post-closing goods and
services.
Additionally; a publication outlining the highlights of membership in the
proprietor's
program can be sent periodically to the contact. When the contact enters the
thinking
phase, the relationship between the sales agent and move consultant is already
well
established. As a result, a high percentage of members will reenter the cycle
at step
100 as members of the proprietor's program and be maintained as a member for
their
entire life. Although the subject invention has been described with contacts
entering at
an exemplary phase, it will be appreciated that the subject disclosure
envisions
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engaging the services of the proprietor of the subject invention at any phase
and in
varying capacities.
While the invention has been described with respect to preferred
embodiments, those skilled in the art will readily appreciate that various
changes and
modifications can be made to the invention without departing from the spirit
or scope
of the invention as defined by the appended claims.
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