Automated Off-Market Property Matching System
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Solution Overview
Problem
Home buyers face significant time and resource expenditure in finding suitable properties, as many desirable properties are not listed for sale and require physical visits, while real estate professionals' services do not effectively address off-market properties.
Innovation Solution
A system and method that includes a profile database for clients, a neighborhood database, and processing units to generate and transmit lists of properties matching client preferences, allowing direct contact with property owners and facilitating off-market transactions by valuing properties and calculating homeowner likelihood to sell.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If buyers physically visit potential properties to identify desired properties, then buyers can assess property suitability, but buyers expend considerable time and resources
Solution Approach 1:
The system performs preliminary filtering and identification of potential properties using automated criteria, client profiles, and property databases before buyers conduct physical visits. This preliminary action reduces the number of properties buyers need to visit in person while ensuring that visited properties are highly relevant to their needs.
Solution Approach 2:
The system acts as an intermediary between buyers and properties, using automated matching algorithms, property databases, and communication systems to connect buyers with suitable properties without requiring extensive direct interaction. The intermediary processes information, filters options, and facilitates efficient matching.
2Reliability
If buyers retain real estate professional services to obtain property listings, then buyers gain access to reliable listings, but many desirable off-market properties remain unavailable
Solution Approach 1:
The system serves multiple functions: it maintains a database of listed properties like traditional real estate services, simultaneously accesses off-market properties through alternative data sources, performs automated matching, and facilitates direct buyer-owner communication. This multi-functionality allows the system to provide both reliable listed properties and access to off-market opportunities.
Solution Approach 2:
The system expands the property search from the traditional dimension of listed properties to include off-market properties by accessing alternative data sources, property owner databases, and using automated identification methods. This dimensional expansion allows buyers to access properties that would be unavailable through conventional channels.
3Adaptability or versatility
If buyers search for properties not currently for sale, then buyers can access off-market properties, but the search process becomes more complex and resource-intensive
Solution Approach 1:
The system performs automated identification, filtering, and matching of off-market properties using client profiles, property databases, and algorithms without requiring manual buyer effort. The system serves itself by automatically querying databases, analyzing property data, and generating matched lists, reducing the complexity burden from buyers.
Solution Approach 2:
The system replaces manual property search and assessment mechanisms with automated computational processes, databases, and algorithms. Instead of buyers manually researching and evaluating off-market properties, the system uses automated matching, data processing, and communication systems to identify and present suitable properties.
Data Source
AI summary
A method for locating real estate having desired attributes includes storing, in a profile database, at least one client profile, the client profile including a client identifier associated with a client and at least two preferences of the client, storing, in a neighborhood database, at least one neighborhood defined by at least one neighborhood attribute other than zip code, receiving, by a receiving unit, one or more properties not currently for sale within the at least one neighborhood, weighting, by a processing unit, the at least two preferences, generating, by the processing unit, a list of one or more properties not currently for sale within the at least one neighborhood having the at least two preferences, and transmitting, by a transmitting unit, the list of one or more properties to the client.