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WO2021262073A1 - Method and system for controlling a bidding process - Google Patents

Method and system for controlling a bidding process Download PDF

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Publication number
WO2021262073A1
WO2021262073A1 PCT/SE2021/050617 SE2021050617W WO2021262073A1 WO 2021262073 A1 WO2021262073 A1 WO 2021262073A1 SE 2021050617 W SE2021050617 W SE 2021050617W WO 2021262073 A1 WO2021262073 A1 WO 2021262073A1
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WO
WIPO (PCT)
Prior art keywords
entity
bidding
participant
information data
service provider
Prior art date
Legal status (The legal status is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the status listed.)
Ceased
Application number
PCT/SE2021/050617
Other languages
French (fr)
Inventor
Sohil-Adnan ABOU-SOULTAN
Hassan ABOU-SOULTAN
Current Assignee (The listed assignees may be inaccurate. Google has not performed a legal analysis and makes no representation or warranty as to the accuracy of the list.)
Budid Sweden AB
Original Assignee
Budid Sweden AB
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Priority claimed from SE2050759A external-priority patent/SE546604C2/en
Application filed by Budid Sweden AB filed Critical Budid Sweden AB
Publication of WO2021262073A1 publication Critical patent/WO2021262073A1/en
Anticipated expiration legal-status Critical
Ceased legal-status Critical Current

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Classifications

    • G—PHYSICS
    • G06—COMPUTING OR CALCULATING; COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q30/00—Commerce
    • G06Q30/06—Buying, selling or leasing transactions
    • G06Q30/08—Auctions

Definitions

  • the present invention relates to a system and a method for controlling a bidding process, e.g. relating to auction-type selling of real estate.
  • the invention relates to a system and method which is secure and wherein the information integrity is preserved.
  • the real estate market is an example of a complex market wherein the closure of a deal is preceded by a long chain of steps, wherein a potential byer should become aware of the real estate object, book a show of the object or attend an open show, re-visit the object, inspect the object, involve a bank contact and get loan clearance, participate in a bidding process and finally sign the contract.
  • the biding process is, at least in many countries, an unregulated process offering a low level of transparency and security. False bidders, for example strawmen for the seller may participate to unlawfully rise the price.
  • Another problem are potential buyers that are interested in real estate object but participate in the bidding process without having a proper loan clarence from their bank and not really having the financial capacity for participating or at least not over a certain price level.
  • This type of bidders often withdraws their bid at a late stage, sometimes even after the bidding process is closed, creating a range of problems: typically the bidding process has to be restarted with added cost and a potential loss of other bidders.
  • the bidders can not be forced to reveal the full content of their loan clarence from their bank and/or their complete financial status, as that would give the agent/seller improper information on how high the bidder is actually willing/capable of eventually go.
  • the scenario is further complicated by the fact that the potential buyer are typically not financial professionals.
  • US2016314525 discloses a system and a method for providing more information than the bid itself to bidders and seller/agent in a real estate bidding process. However, the integrity and security issues outlined above are not considered.
  • US2019213668 discloses a system and method for online-based auction, for example real estate. The platform improves the possibilities for bidders and seller to be updated about the bids, but does not address the specific challenges of real estate bidding.
  • the object of the invention is to provide a method and a system and method providing security and integrity in a bidding process, in particular in a bidding process in an auction type selling of a real estate object.
  • a method for providing security and integrity in a bidding process is provided.
  • the method is implemented in a system comprising an agent entity running an agent application, a bank entity running a bank application, and a bidding service provider entity running a bidding service provider application and at least on participant entity running a participant application, wherein at least the bidding service provider entity is separated from the bank entity and from the agent entity.
  • the method comprises the steps of:
  • the agent entity identifying one bidding object and at least one object parameter relating to the bidding object
  • the bidding service provider entity or agent entity initiating a bidding process by informing the participants of the start of a bidding process
  • the bidding service provider entity receiving participant specific information data originating from the bank entity; and the bidding service provider entity generating first processed information data based on the participant specific information data and distributing the first processed information data to the participant entity and the bidding service provider entity, and generating second processed information data based on the participant specific information data distributing the second processed information data to the agent entity, the first processed information data being different from the second processed information data.
  • the bidding service provider entity is thereby in control of the request for participant specific information and the distribution of the first processed information data to the participant entity and the distribution of the second processed information data to the agent entity.
  • the step may be initiated upon at least one participant bidding on the bidding object.
  • the method comprises the substeps to be taken during the step of bidding, of:
  • the bidding service provider entity sending a request for participant specific information to the bank entity
  • the bidding service provider entity processing the participant specific information data and preparing a first processed information data relating to the participant and a second processed information data relating to the agent;
  • the bidding service provider entity sending the first processed information relating to the participant to the participant entity and the second processed information relating to the agent to the agent entity.
  • the method comprises the participant specific information data generated by the bank entity comprises information that should be kept secret from the agent entity and the bidding service provider entity processing the participant specific information data comprises filtering the participant specific information data so that the second processed information data relating to the agent is a subset of the first processed information data relating to the participant.
  • the bidding service provider entity processing the participant specific information data comprises analyzing the participant specific information data and determining a ranking value that is comprised in the second processed information data relating to be sent to the agent entity, wherein ranking value should represent the likelihood of the participant not withdrawing the bid.
  • the participant specific information data generated by the bank entity may comprise parameters that indicate if a loan clearance exists and the object type or object types relating to the loan clearance and the determination of the ranking value includes an analysis of that a loan clearance exists and that the object type corresponds to the bidding object.
  • the agent entity identifying one bidding object and at least one object parameter relating to the bidding object; - at least one participant entity registering with the agent entity or the bidding service provider entity as participants in a bidding process relating to the bidding object;
  • the agent entity generating a bidding session message comprising a list of participants, the at least one object parameter and, and providing the bidding session message to the bidding service provider entity;
  • the agent server or the bidding service provider server generates open bidding messages to the participants of the list of participants, the open bidding messages at least comprising a link to participation in the bidding process
  • the at least one participant performing an E-identification and the at least one participant entity giving consent to the bidding service provider entity to retrieve and distribute information from the bank entity, and a consent message is provided to the bidding service provider entity;
  • the bidding service provider entity sending a request message for participant specific information to the bank entity
  • the bidding service provider entity analyzing the participant specific information data message utilizing the bidding session message and preparing a participant message comprising first processed information data message relating to the participant and an agent message comprising second processed information data relating to the agent;
  • the bidding service provider entity sending the participant message to the participant entity and the agent message to the agent entity, and wherein the bidding process steps are repeated for at least each participant and/or each bid.
  • the method comprises the bidding session message comprises information about the object type of the bidding object and the participant specific information data message comprises information about the object type or types relevant for the participants loan clearance and the analysis performed by the bidding service provider entity comprises comparing the object type of the bidding session message and the participant specific information data message.
  • a system for providing security and integrity in a bidding process comprises an agent entity running an agent application, a bank entity running a bank application, and a bidding service provider entity running a bidding service provider application and at least on participant entity running a participant application, wherein at least the bidding service provider entity is separated from the bank entity and from the agent entity, wherein
  • the agent entity is arranged to identify one bidding object and at least one object parameter relating to the bidding object;
  • At least one participant entity is arranged to register with the agent entity or the bidding service provider entity as participants in a bidding process relating to the bidding object; and wherein the a bidding service provider entity is arranged to generate at least one request for participant specific information is and to send the request to the bank entity, and
  • the bank entity is arranged to provide participant specific information data to the bidding service provider entity
  • the a bidding service provider entity is arranged to generate first processed information data based on the participant specific information data and to distribute to the participant entity and to generate second processed information data based on the participant specific information data and to distribute to the agent entity, the first processed information data being different from the second processed information data
  • the bidding service provider entity controls the request for participant specific information and the distribution of the first processed information data to the participant entity and the distribution of the second processed information data to the agent entity.
  • the a bidding service provider entity is arranged process the participant specific information data generated by the bank entity by filtering the participant specific information data so that the second processed information data relating to the agent is a subset of the first processed information data relating to the participant.
  • the a bidding service provider entity is arranged process the participant specific information data generated by the bank entity by determining a ranking value that is comprised in the second processed information data relating to be sent to the agent entity, wherein ranking value should represent the likelihood of the participant not withdrawing the bid. Thanks to the invention it is possible to provide security and integrity in a bidding process is, in particular for the bidder with regards to the agent and still maintain the auction type format of selling. A format that is preferred by many parties.
  • a bidding service provider entity filters or process the information provided by a bank concerning a participants so that the agent is provided with sufficient information, yet information that could be non-advantageous for the participant/bidder will not reach the agent or seller.
  • One further advantage is that after the process it should be possible to trace the participants.
  • Fig. l is a schematic illustration of the system according to the present invention.
  • Fig. 2 is a flowchart of the method according to one embodiment of the present invention.
  • Fig. 3 is a flowchart of the method according to one embodiment of the present invention.
  • Fig. 4 is a messaging scheme of the method according to one embodiment of the present invention.
  • Tools for managing bidding processes are today often included in the software packages real estate agents and are typically run on the agent’s server.
  • the participants Prior to the actual bidding process the participants have registered with the agent’s software and the bidding process starts with the agent initiating that messages, typically SMS, informs the registered participants that the bidding process for a particular real estate object is starting and asks the participants, the bidders, to place there bids.
  • the bidders For each bid, or each rounds of bids, the bidders are informed by new SMS messages, generated by the agent's software about the current highest bid.
  • the process is typically supervised by the agent in person aided by the software application.
  • the bidding process is web-based and the bidders place their bids and receives updated information about the highest bid online.
  • considerable trust is awarded to the bidder as typically no verifications of the bidder’s identity, nor is the financial capacity of the bidders known in this stage.
  • the real estate agent has informed all registered participants about the necessity to have a relevant loan clearance from a bank or other financial institution.
  • the agent has typically no means available to control the identity of the bidder and/or the existence of a loan clearance and the terms and conditions associated with it. The control comes after the bidding process is then the bidders bank is contacted, or the bidder is asked to provide proof of his/hers financial capacity.
  • the identity of the rest of the participating bidders are typically not revealed.
  • the current bidding process is relatively easy to manipulate, for example the seller may engage one or more strawmen that places bid in order to raise the final price of the real estate object.
  • a participating bidder are not fully informed about the terms of his/hers loan clearance and/or are carried away during the bidding process and places bids that are above the his/hers financial capacity.
  • loan clearance is here used in a broad meaning and represents an amount that a bank or other mortgage lender have preliminary approved.
  • the amount specified in the loan clearance is the purchase amount of the object, for example the house, rather than the maximum loan amount.
  • a loan clearance is typically linked to certain terms and conditions such as a time period, an object type; for example a house, an apartment or a boat. Further conditions may apply, for example if the object type is a house the loan clearance may specify an upper limit of the operating cost of the house.
  • a loan clearance is also often given under the presumption that the personal financial circumstances for the person or persons have not changed.
  • the terms “Loan consent, Bank consent, Pre-qualified, Pre-approved, Agreement in Principle, Loan commitment” are in the trade used to denote the same thing as the loan clearance, which terms are encompassed by the herein used term “loan clearance”.
  • entity as in “agent entity” and “bank entity” is used herein to denote a server or similar device having capability to run a software application/program and communicate with other entities in the system and at least to some extent store information.
  • An entity typically includes a computer for managing a server, the server and computer forming the entity.
  • the implementation may comprises a plurality of servers, databases and computers forming an internal network or IT-system of a company, for example.
  • the term “participant entity” may be a mobile phone, other mobile device or a personal/laptop computer, i.e. a device of lesser capabilities than the servers of the other entities in the system.
  • the entities are provided with software programs and/or applications to perform the steps of the method of the invention. Giving the teaching herein, implementing the steps of the method is a straightforward task for the skilled programmer.
  • the term “separated” as in “the agent entity is separated from bidding server provider entity” and “the agent server is separated from bidding server provider server” should be understood that the entities/servers are typically managed and controlled by different legal entities and that no essential information relating to a bidding process apart from the below described are exchanged between the entities/servers. “Separated” may be understood as the level of separation of information maintained by two competing companies keeping their essential and confidential information apart by restricting access to their respective IT-sy stems, although some information exchange may be allowed.
  • agent entity 110 and the bidding service provider entity 120 and the thereto related functions/services may be provided by the same legal entity or affiliated legal entities, but arranged so that the information and the management is kept separate in the above described manner, for example as separate modules in an IT-sy stems.
  • IT-sy stem must be set up taking the high demand on information integrity between the involved parties, especially the integrity of the participant (bidder).
  • the system 100 is schematically illustrated in figure 1 and comprises an agent entity 110, a bidding service provider entity 120, a bank entity 130 and at least one, but typically a plurality of participant entities 140.
  • the agent entity 110, the bidding service provider entity 120, and the bank entity 130 are typically servers and a participant entity 140 may typically be a personal computer or a mobile computing device such as a smart phone or a tablet.
  • the entities are separated in the sense described above.
  • the entities are provided with the software in forms of an application or program to carry out the respective parts of the method described herein.
  • bidding service provider entity 120 controls the flow of information between the entities which is illustrated by the bidding service provider entity 120 being connected to the bank entity 130, the agent entity 110 and the participant entity 140.
  • other connections may exist, such as the participant entity 140 connecting with the agent entity 110 for registration as a participant in a bidding process.
  • the auction process for auctioning an object wherein the method according to the invention is utilized comprises the three main phases: a. a registration phase wherein a participant entity 140 register to participate in the auction process, typically by registering with the agent entity 110 by web registration. Alternatively, the participant entity 140 may register with the bidding service provider entity 120, which in turn would transfer that information to the agent entity 110. An agent reviews the participants and approves the participant. A group of participants for a specific bidding event relating to one object is defined. b. a bidding phase wherein the group of participants is activated. The participants loan clearances are handled, and their bids are placed and communicated. Typically, the bidding is iterated a number of times until the seller accepts a bid.
  • the acceptance is typically on the seller’s discretion- it is not necessarily the highest bid that the seller choses to accept.
  • a financial validation and contract phase wherein the final financial terms are reviewed and a contract is signed, or if the validation process fails, the complete bidding process is restarted.
  • the method according to the invention relates primarily to the first and second phases, the registration phase and the bidding phase, of the complete auction process.
  • the method illustrated by the flowchart of figure 2, provides for security and integrity in a bidding process, and is implemented in the system 100 comprising an agent entity 110 running an agent application, a bank entity 130 running a bank application, and a bidding service provider entity 120 running a bidding service provider application and at least on participant entity 140 running a participant application.
  • the different entities and applications are arranged to interact to according to the described method.
  • the bidding service provider entity 120 is separated from the bank entity 130 and from the agent entity 110.
  • the method comprises the steps of:
  • the agent entity 110 identifying one bidding object and at least one object parameter relating to the bidding object ;
  • the bidding service provider entity 120 or agent entity 110 initiating a bidding process by informing the participants of the start of a bidding process
  • the bidding service provider entity 120 receiving participant specific information data originating from the bank entity 130; and the bidding service provider entity 120 generating first processed information data based on the participant specific information data and distributing the first processed information data to the participant entity 140 and the bidding service provider entity 120, and generating second processed information data based on the participant specific information data distributing the second processed information data to the agent entity 110, the first processed information data being different from the second processed information data.
  • the bidding service provider entity 120 is thereby in control of the request for participant specific information and the distribution of the first processed information data to the participant entity 140 and the distribution of the second processed information data to the agent entity 110.
  • the step may be initiated upon at least one participant bidding on the bidding object.
  • the bidding, step 215 is typically repeated for each participant and also for each rounds of bids among the participants.
  • the agent entity 110 or the bidding service provider entity 120 may after each bid, or after a round of bids inform all participants about the status of the bidding process.
  • the communication or messaging between the different entities and the format of messages may vary depending on how the involved entities are configured and which programs and databases the method and system according to the invention communicates with.
  • information used by the bank entity 130 to generate the participant specific information data is stored in the banks databases in various ways for different banks and with different protocols for communication.
  • the method and system according to the invention preferably interacts with existing Real Estate Agent software packages.
  • the term “receiving” used in step 251 “the bidding service provider entity 120 receiving participant specific information data originating from the bank entity 130” should be understood as either another entity having provided the participant specific information data to the bidding service provider entity 120 or the bidding service provider entity 120 having retrieved participant specific information data from the bank entity 130.
  • the bidding service provider entity 120 In order to receive and handle the participant specific information data the bidding service provider entity 120 must have a consent from the participant entity 140. A consent may have been given directly from the participant entity 140, for example in a separate step prior to step 215.
  • the participant entity 140 may alternatively have given the consent to one or more of the involved entities, the agent entity 110, the bank entity 130 and the bidding service provider entity 120, and the consent is distributed to at least the bidding service provider entity 120.
  • the bidding service provider entity 120 having consent from the participant entity 140 to receive or retrieve and to handle the participant specific information data held by the bank entity 130, may receive the participant specific information data in at least four different ways: a) The bidding service provider entity 120 retrieves data from the bank entity 130 to process and distribute the information, b) The bank entity 130 generates and/or distribute data to the bidding service provider entity 120 to distribute the information, c) the participant entity 140 gives access to the bank entity 130 for the bidding service provider entity 120 to retrieve data to process and distribute the information; d) the bank entity 130 gives permission to the bidding service provider entity 120 to access the participant specific data to process and distribute the information.
  • the bidding service provider entity 120 has been given access to certain information by the bank entity 130 and step 215 comprises the bidding service provider entity 120 retrieving the participant specific information data from the bank entity 130 without having to request the specific information for each participant and bid.
  • the bank entity provides the participant specific information data to the bidding service provider entity 120 upon issuing a loan consent to a client that is, or is planning to be, a participant in the bidding process.
  • the participant specific information data is stored by the bidding service provider entity 120 and used for generating the first processed information data and the second processed information data.
  • the bidding service provider entity 120 controls the request, the processing of the participant specific information and the distribution of the different processed information to the participant entity 140 and the agent entity 110.
  • the generation of the first and second processed information is performed by the bank entity 130 and sent to the bidding service provider entity 120 which in turn distribute the first processed information to the agent entity 110 and the second processed information to the participant entity 140.
  • the bidding object may for example be a real estate property and the object parameter specifying that it is a townhouse, suburban house or an apartment, for example, which is referred to as object type.
  • the method comprises a step of the at least one participant entity 140 giving consent to the bidding service provider entity 120 to retrieve and distribute information from the bank entity 130.
  • the participant entity 140 has previously given a consent to the bank entity 130 to accept a request from the bidding service provider entity 120.
  • Information data, participant specific information data and processed information data is typically is typical data that is stored in a database or originate from data stored in a database using conventional methods and arrangements for storing and transferring.
  • step of bidding 215 comprises the substeps of:
  • the bidding service provider entity 120 processing the participant specific information data and preparing first processed information data relating to the participant and second processed information data relating to the agent;
  • the bidding service provider entity 120 sending the first processed information relating to the participant to the participant entity 140 and the second processed information relating to the agent to the agent entity 110.
  • the participant specific information data generated by the bank entity 130 comprises information that should be kept secret from the agent entity 110 and the bidding service provider entity 120 processing the participant specific information data comprises filtering the participant specific information data so that the second processed information data relating to the agent is a subset of the first processed information data relating to the participant.
  • the participant specific information data generated by the bank entity 130 comprises information that should be kept secret from the agent entity 110 and the bidding service provider entity 120 processing the participant specific information data comprises filtering the participant specific information data so that the second processed information data relating to the agent is a subset of the first processed information data relating to the participant.
  • An example of such filtering a is that the participant specific information data comprises an indication of the participant having a loan clearance with the bank, a specification of object type linked to the loan clearance and the purchase amount specified in the loan clearance.
  • the bidding service provider entity 120 filters out that a loan clearance exists and provides that information only in the second processed information to agent entity 110.
  • bidding service provider entity 120 also provide other information, such as object type, in the second processed information to agent entity 110.
  • information that could influence the bidding process in an unfair way, such as revealing the amount linked to the loan clearance should always be filtered out by the bidding service provider entity 120.
  • the participant specific information data generated by the bank entity 130 comprises information that should be kept secret from the agent entity 110 and the bidding service provider entity 120 processing the participant specific information data comprises analyzing the participant specific information data and determining a ranking value that is comprised in the second processed information data relating to be sent to the agent entity 110.
  • the ranking value should represent the likelihood of the participant not withdrawing the bid and being approved in the financial validation and contract phase.
  • the ranking value may include an analysis of that a loan clearance exists and that the object type corresponds to the bidding object. Also other parameters may be included and the different parameters may be given different weight in the analysis.
  • the ranking value may for example be an integer from for example 1 to 5, wherein a low number represent a match with all selected parameters and a lower value a mismatch in one or more parameters.
  • a grade-type value may be given, for example with a “5” representing the highest grade and “1” the lowest grade.
  • the amount specified in the loan clearance is one parameter that is used by the bidding service provider entity 120 performing the analysis for the ranking value. In that case the agent entity 110 is still not presented with the actual amount specified in the participant specific information data.
  • FIG. 3 One implementation, representing one embodiment of the method according to the invention is illustrated figures 3 and 4, wherein figure 3 is a flowchart and figure 4 is a messaging scheme.
  • Figure 4 illustrates the gateway function of the service provider entity 120 which ensures the integrity of the participant and yet provides the controlling function that the participant has the capacity to go through with the deal.
  • the method according to the embodiment comprises the steps of:
  • the agent entity 110 may identify one bidding object and at least one object parameter relating to the bidding object.
  • the object parameter may for example be an object type specifying the type of bidding object according to a predetermined classification.
  • the agent entity 110 may 300: 1 send a set-up bidding message to the service provider entity 120 with information about the bidding object and bidding process;
  • the agent entity 110 generating a bidding session message comprising a list of participants, the at least one object parameter and, and providing the bidding session message to the bidding service provider entity 120;
  • the agent server or the bidding service provider server generates open bidding messages to the participants of the list of participants, the open bidding messages at least comprising a link to participation in the bidding process,
  • a consent message is provided from the participant entity 140 to the bidding service provider entity 120;
  • the bidding service provider entity 120 analyzing the participant specific information data message utilizing the bidding session message and preparing a participant message comprising first processed information data message relating to the participant and an agent message comprising second processed information data relating to the agent;
  • steps 315:1 to 315:7 are repeated for at least each participant and/or each bid.
  • the bidding session message comprises information about the object type of the bidding object and the participant specific information data message comprises information about the object type or types relevant for the participants loan clearance and the analysis performed by the bidding service provider entity 120 comprises comparing the object type of the bidding session message and the participant specific information data message.
  • the bidding service provider entity 120 analyzing the participant specific information data message by comparing the bid from the participant entity 140 with the loan clarence with regards to one of or a combination of the following parameters: object type, period of validity, specified amount and running cost.
  • the bidding service provider entity 120 analyzing participant specific information data message and monitors the bids placed by the participant entity 140 and if the bid is within a predetermined range from the given upper limit of the loan clearance the participant entity 140 is notified. Upon such notification the participant may contact the bank, or another bank, to apply for a new loan clearance with a higher upper limit. In the same manner the bidding service provider entity 120 may monitor and notify the participant entity 140 is a period of validity specified in the loan clearance is about to expire. It has above been described as the agent and agent entity being an active part in the selling and the receiver of information. Also the seller may be provided with information throughout the process, for example from the agent entity 110 or from the bidding service provider 120. Typically, the seller would receive the same type of filtered or processed information as the agent entity 110 receives from the bidding service provider 120 in order to maintain the integrity of the bidder.

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Abstract

The present invention relates to a system and a method for controlling a bidding process, e.g. relating to auction-type selling of real estate. In particular, the invention relates to a system and method which is secure and wherein the information integrity is preserved. Sensitive information, such as information on individuals loan clearances, are handled by a system separated from the real estate agent's system, wherein the separated system extracts information from a loan clearances message and transforms it to at least a first message to be provided to the bidder and a second message to be provided to the agent/seller.

Description

METHOD AND SYSTEM FOR CONTROLLING A BIDDING PROCESS
Field of the invention
The present invention relates to a system and a method for controlling a bidding process, e.g. relating to auction-type selling of real estate. In particular, the invention relates to a system and method which is secure and wherein the information integrity is preserved.
Background of the invention
The real estate market is an example of a complex market wherein the closure of a deal is preceded by a long chain of steps, wherein a potential byer should become aware of the real estate object, book a show of the object or attend an open show, re-visit the object, inspect the object, involve a bank contact and get loan clearance, participate in a bidding process and finally sign the contract. The biding process is, at least in many countries, an unregulated process offering a low level of transparency and security. False bidders, for example strawmen for the seller may participate to unlawfully rise the price. Another problem are potential buyers that are interested in real estate object but participate in the bidding process without having a proper loan clarence from their bank and not really having the financial capacity for participating or at least not over a certain price level. This type of bidders often withdraws their bid at a late stage, sometimes even after the bidding process is closed, creating a range of problems: typically the bidding process has to be restarted with added cost and a potential loss of other bidders. At the same time the bidders can not be forced to reveal the full content of their loan clarence from their bank and/or their complete financial status, as that would give the agent/seller improper information on how high the bidder is actually willing/capable of eventually go. The scenario is further complicated by the fact that the potential buyer are typically not financial professionals. Rather buying a real estate is more of a “a few time in the lifetime” affair and the potential buyer may not be fully up-to-date with the conditions of the banks loan clarence and further, it is well known that the mechanisms of an auction type bidding process may cause an unexperienced bidder to continue bidding above his/hers financial capability.
US2016314525 discloses a system and a method for providing more information than the bid itself to bidders and seller/agent in a real estate bidding process. However, the integrity and security issues outlined above are not considered. US2019213668 discloses a system and method for online-based auction, for example real estate. The platform improves the possibilities for bidders and seller to be updated about the bids, but does not address the specific challenges of real estate bidding.
There is a clear wish from sellers, agents and buyers alike to keep the current auction-type of bidding for real state, abide the obvious drawbacks of the process. Therefore, there is a need for tools in form of a system and a method, that makes the bidding process more secure and transparent, yet during the process ensure the integrity of the participants during the process.
Summary of the invention
The object of the invention is to provide a method and a system and method providing security and integrity in a bidding process, in particular in a bidding process in an auction type selling of a real estate object.
This is achieved by the method as defined in claim 1, and the system as defined in claim 9.
According to one aspect of the invention a method for providing security and integrity in a bidding process is provided. The method is implemented in a system comprising an agent entity running an agent application, a bank entity running a bank application, and a bidding service provider entity running a bidding service provider application and at least on participant entity running a participant application, wherein at least the bidding service provider entity is separated from the bank entity and from the agent entity.
The method comprises the steps of:
- the agent entity identifying one bidding object and at least one object parameter relating to the bidding object;
- at least one participant entity registering with the agent entity or the bidding service provider entity as participants in a bidding process relating to the bidding object;
- the bidding service provider entity or agent entity initiating a bidding process by informing the participants of the start of a bidding process; and
-the bidding service provider entity receiving participant specific information data originating from the bank entity; and the bidding service provider entity generating first processed information data based on the participant specific information data and distributing the first processed information data to the participant entity and the bidding service provider entity, and generating second processed information data based on the participant specific information data distributing the second processed information data to the agent entity, the first processed information data being different from the second processed information data. The bidding service provider entity is thereby in control of the request for participant specific information and the distribution of the first processed information data to the participant entity and the distribution of the second processed information data to the agent entity. The step may be initiated upon at least one participant bidding on the bidding object. According to one embodiment the method comprises the substeps to be taken during the step of bidding, of:
- the bidding service provider entity sending a request for participant specific information to the bank entity;
- the bank entity generating participant specific information data;
- the bank entity sending participant specific information data to the bidding service provider entity;
- the bidding service provider entity receiving the participant specific information data from the bank entity;
- the bidding service provider entity processing the participant specific information data and preparing a first processed information data relating to the participant and a second processed information data relating to the agent; and
- the bidding service provider entity sending the first processed information relating to the participant to the participant entity and the second processed information relating to the agent to the agent entity.
According to one embodiment the method comprises the participant specific information data generated by the bank entity comprises information that should be kept secret from the agent entity and the bidding service provider entity processing the participant specific information data comprises filtering the participant specific information data so that the second processed information data relating to the agent is a subset of the first processed information data relating to the participant. Alternatively, the bidding service provider entity processing the participant specific information data comprises analyzing the participant specific information data and determining a ranking value that is comprised in the second processed information data relating to be sent to the agent entity, wherein ranking value should represent the likelihood of the participant not withdrawing the bid. The participant specific information data generated by the bank entity may comprise parameters that indicate if a loan clearance exists and the object type or object types relating to the loan clearance and the determination of the ranking value includes an analysis of that a loan clearance exists and that the object type corresponds to the bidding object.
According to one embodiment the method comprises the steps of:
- the agent entity identifying one bidding object and at least one object parameter relating to the bidding object; - at least one participant entity registering with the agent entity or the bidding service provider entity as participants in a bidding process relating to the bidding object;
- the agent entity generating a bidding session message comprising a list of participants, the at least one object parameter and, and providing the bidding session message to the bidding service provider entity; and
- the agent server or the bidding service provider server generates open bidding messages to the participants of the list of participants, the open bidding messages at least comprising a link to participation in the bidding process,
- the at least one participant performing an E-identification and the at least one participant entity giving consent to the bidding service provider entity to retrieve and distribute information from the bank entity, and a consent message is provided to the bidding service provider entity;
- the at least one participant bidding on the bidding object;
- the bidding service provider entity sending a request message for participant specific information to the bank entity;
- the bank entity generating a participant specific information data message;
- the bank entity sending the participant specific information data message to the bidding service provider entity;
- the bidding service provider entity receiving the participant specific information data message from the bank entity;
- the bidding service provider entity analyzing the participant specific information data message utilizing the bidding session message and preparing a participant message comprising first processed information data message relating to the participant and an agent message comprising second processed information data relating to the agent; and
- the bidding service provider entity sending the participant message to the participant entity and the agent message to the agent entity, and wherein the bidding process steps are repeated for at least each participant and/or each bid.
According to one embodiment the method comprises the bidding session message comprises information about the object type of the bidding object and the participant specific information data message comprises information about the object type or types relevant for the participants loan clearance and the analysis performed by the bidding service provider entity comprises comparing the object type of the bidding session message and the participant specific information data message.
According to one aspect of the invention a system for providing security and integrity in a bidding process is provided. The system comprises an agent entity running an agent application, a bank entity running a bank application, and a bidding service provider entity running a bidding service provider application and at least on participant entity running a participant application, wherein at least the bidding service provider entity is separated from the bank entity and from the agent entity, wherein
- the agent entity is arranged to identify one bidding object and at least one object parameter relating to the bidding object;
- at least one participant entity is arranged to register with the agent entity or the bidding service provider entity as participants in a bidding process relating to the bidding object; and wherein the a bidding service provider entity is arranged to generate at least one request for participant specific information is and to send the request to the bank entity, and
-the bank entity is arranged to provide participant specific information data to the bidding service provider entity, and the a bidding service provider entity is arranged to generate first processed information data based on the participant specific information data and to distribute to the participant entity and to generate second processed information data based on the participant specific information data and to distribute to the agent entity, the first processed information data being different from the second processed information data, and wherein the bidding service provider entity controls the request for participant specific information and the distribution of the first processed information data to the participant entity and the distribution of the second processed information data to the agent entity.
According to one embodiment the a bidding service provider entity is arranged process the participant specific information data generated by the bank entity by filtering the participant specific information data so that the second processed information data relating to the agent is a subset of the first processed information data relating to the participant. Alternatively the a bidding service provider entity is arranged process the participant specific information data generated by the bank entity by determining a ranking value that is comprised in the second processed information data relating to be sent to the agent entity, wherein ranking value should represent the likelihood of the participant not withdrawing the bid. Thanks to the invention it is possible to provide security and integrity in a bidding process is, in particular for the bidder with regards to the agent and still maintain the auction type format of selling. A format that is preferred by many parties.
One advantage afforded by the present invention is that a bidding service provider entity filters or process the information provided by a bank concerning a participants so that the agent is provided with sufficient information, yet information that could be non-advantageous for the participant/bidder will not reach the agent or seller.
One further advantage is that after the process it should be possible to trace the participants.
In the following, the invention will be described in more detail, by way of example only, with regard to non-limiting embodiments thereof, reference being made to the accompanying drawings.
Brief description of the drawings
Fig. l is a schematic illustration of the system according to the present invention;
Fig. 2 is a flowchart of the method according to one embodiment of the present invention;
Fig. 3 is a flowchart of the method according to one embodiment of the present invention; and
Fig. 4 is a messaging scheme of the method according to one embodiment of the present invention.
Detailed description
The system and method according to the present invention will be described with reference to real estate object and the process of showing such object. This represents an example and also an important embodiment of the invention. However, the invention is by no means limited to the real estate bidding. Also other selling/buying scenarios, typically of objects of larger values such as boats, cars, campers etc may be similar in utilizing auction-type bidding, and wherein the financial capacity of the potential buyers often is heavily dependent on the terms and condition of a loan from a bank or similar financial institution.
Tools for managing bidding processes are today often included in the software packages real estate agents and are typically run on the agent’s server. Prior to the actual bidding process the participants have registered with the agent’s software and the bidding process starts with the agent initiating that messages, typically SMS, informs the registered participants that the bidding process for a particular real estate object is starting and asks the participants, the bidders, to place there bids. For each bid, or each rounds of bids, the bidders are informed by new SMS messages, generated by the agent's software about the current highest bid. The process is typically supervised by the agent in person aided by the software application. Alternatively, as for example described in the above cited patent applications, the bidding process is web-based and the bidders place their bids and receives updated information about the highest bid online. In either case, considerable trust is awarded to the bidder as typically no verifications of the bidder’s identity, nor is the financial capacity of the bidders known in this stage. Typically, the real estate agent has informed all registered participants about the necessity to have a relevant loan clearance from a bank or other financial institution. However, the agent has typically no means available to control the identity of the bidder and/or the existence of a loan clearance and the terms and conditions associated with it. The control comes after the bidding process is then the bidders bank is contacted, or the bidder is asked to provide proof of his/hers financial capacity. The identity of the rest of the participating bidders are typically not revealed. As previously discussed, the current bidding process is relatively easy to manipulate, for example the seller may engage one or more strawmen that places bid in order to raise the final price of the real estate object. Probably more common is that a participating bidder are not fully informed about the terms of his/hers loan clearance and/or are carried away during the bidding process and places bids that are above the his/hers financial capacity.
The term “loan clearance” is here used in a broad meaning and represents an amount that a bank or other mortgage lender have preliminary approved. Typically, the amount specified in the loan clearance is the purchase amount of the object, for example the house, rather than the maximum loan amount. Hence, a down payment is typically included in the specified amount. A loan clearance is typically linked to certain terms and conditions such as a time period, an object type; for example a house, an apartment or a boat. Further conditions may apply, for example if the object type is a house the loan clearance may specify an upper limit of the operating cost of the house. A loan clearance is also often given under the presumption that the personal financial circumstances for the person or persons have not changed. The terms “Loan consent, Bank consent, Pre-qualified, Pre-approved, Agreement in Principle, Loan commitment” are in the trade used to denote the same thing as the loan clearance, which terms are encompassed by the herein used term “loan clearance”.
The term “entity” as in “agent entity” and “bank entity” is used herein to denote a server or similar device having capability to run a software application/program and communicate with other entities in the system and at least to some extent store information. An entity typically includes a computer for managing a server, the server and computer forming the entity. As appreciated by the skilled person the implementation may comprises a plurality of servers, databases and computers forming an internal network or IT-system of a company, for example. The term “participant entity” may be a mobile phone, other mobile device or a personal/laptop computer, i.e. a device of lesser capabilities than the servers of the other entities in the system. The entities are provided with software programs and/or applications to perform the steps of the method of the invention. Giving the teaching herein, implementing the steps of the method is a straightforward task for the skilled programmer.
The term “separated” as in “the agent entity is separated from bidding server provider entity” and “the agent server is separated from bidding server provider server” should be understood that the entities/servers are typically managed and controlled by different legal entities and that no essential information relating to a bidding process apart from the below described are exchanged between the entities/servers. “Separated” may be understood as the level of separation of information maintained by two competing companies keeping their essential and confidential information apart by restricting access to their respective IT-sy stems, although some information exchange may be allowed. It should be understood that the agent entity 110 and the bidding service provider entity 120 and the thereto related functions/services may be provided by the same legal entity or affiliated legal entities, but arranged so that the information and the management is kept separate in the above described manner, for example as separate modules in an IT-sy stems. Such IT-sy stem must be set up taking the high demand on information integrity between the involved parties, especially the integrity of the participant (bidder).
The system 100 according to the invention is schematically illustrated in figure 1 and comprises an agent entity 110, a bidding service provider entity 120, a bank entity 130 and at least one, but typically a plurality of participant entities 140. The agent entity 110, the bidding service provider entity 120, and the bank entity 130 are typically servers and a participant entity 140 may typically be a personal computer or a mobile computing device such as a smart phone or a tablet. The entities are separated in the sense described above. The entities are provided with the software in forms of an application or program to carry out the respective parts of the method described herein. During the bidding phase, which will be further described below, bidding service provider entity 120 controls the flow of information between the entities which is illustrated by the bidding service provider entity 120 being connected to the bank entity 130, the agent entity 110 and the participant entity 140. During other phases of the auction process other connections may exist, such as the participant entity 140 connecting with the agent entity 110 for registration as a participant in a bidding process.
The auction process for auctioning an object wherein the method according to the invention is utilized comprises the three main phases: a. a registration phase wherein a participant entity 140 register to participate in the auction process, typically by registering with the agent entity 110 by web registration. Alternatively, the participant entity 140 may register with the bidding service provider entity 120, which in turn would transfer that information to the agent entity 110. An agent reviews the participants and approves the participant. A group of participants for a specific bidding event relating to one object is defined. b. a bidding phase wherein the group of participants is activated. The participants loan clearances are handled, and their bids are placed and communicated. Typically, the bidding is iterated a number of times until the seller accepts a bid. The acceptance is typically on the seller’s discretion- it is not necessarily the highest bid that the seller choses to accept. c. a financial validation and contract phase wherein the final financial terms are reviewed and a contract is signed, or if the validation process fails, the complete bidding process is restarted.
The method according to the invention relates primarily to the first and second phases, the registration phase and the bidding phase, of the complete auction process. The method, illustrated by the flowchart of figure 2, provides for security and integrity in a bidding process, and is implemented in the system 100 comprising an agent entity 110 running an agent application, a bank entity 130 running a bank application, and a bidding service provider entity 120 running a bidding service provider application and at least on participant entity 140 running a participant application. The different entities and applications are arranged to interact to according to the described method. The bidding service provider entity 120 is separated from the bank entity 130 and from the agent entity 110.
The method comprises the steps of:
- 200 the agent entity 110 identifying one bidding object and at least one object parameter relating to the bidding object ;
- 205 at least one participant entity 140 registering with the agent entity 110 or the bidding service provider entity 120 as participants in a bidding process relating to the bidding object;
- 210 the bidding service provider entity 120 or agent entity 110 initiating a bidding process by informing the participants of the start of a bidding process;
- 215 the bidding service provider entity 120 receiving participant specific information data originating from the bank entity 130; and the bidding service provider entity 120 generating first processed information data based on the participant specific information data and distributing the first processed information data to the participant entity 140 and the bidding service provider entity 120, and generating second processed information data based on the participant specific information data distributing the second processed information data to the agent entity 110, the first processed information data being different from the second processed information data. The bidding service provider entity 120 is thereby in control of the request for participant specific information and the distribution of the first processed information data to the participant entity 140 and the distribution of the second processed information data to the agent entity 110. The step may be initiated upon at least one participant bidding on the bidding object.
The bidding, step 215 is typically repeated for each participant and also for each rounds of bids among the participants. The agent entity 110 or the bidding service provider entity 120 may after each bid, or after a round of bids inform all participants about the status of the bidding process.
As understood by the skilled person the communication or messaging between the different entities and the format of messages may vary depending on how the involved entities are configured and which programs and databases the method and system according to the invention communicates with. For example, information used by the bank entity 130 to generate the participant specific information data is stored in the banks databases in various ways for different banks and with different protocols for communication. Also, the method and system according to the invention preferably interacts with existing Real Estate Agent software packages.
A recent development in the area includes what is referred to as “Open Banking” which relies on an open Bank API to exchange information between different parties. The method and system according to the invention is readily adaptable to such open standards/protocols. The term “receiving” used in step 251 “the bidding service provider entity 120 receiving participant specific information data originating from the bank entity 130” should be understood as either another entity having provided the participant specific information data to the bidding service provider entity 120 or the bidding service provider entity 120 having retrieved participant specific information data from the bank entity 130. In order to receive and handle the participant specific information data the bidding service provider entity 120 must have a consent from the participant entity 140. A consent may have been given directly from the participant entity 140, for example in a separate step prior to step 215. The participant entity 140 may alternatively have given the consent to one or more of the involved entities, the agent entity 110, the bank entity 130 and the bidding service provider entity 120, and the consent is distributed to at least the bidding service provider entity 120.
The bidding service provider entity 120 having consent from the participant entity 140 to receive or retrieve and to handle the participant specific information data held by the bank entity 130, may receive the participant specific information data in at least four different ways: a) The bidding service provider entity 120 retrieves data from the bank entity 130 to process and distribute the information, b) The bank entity 130 generates and/or distribute data to the bidding service provider entity 120 to distribute the information, c) the participant entity 140 gives access to the bank entity 130 for the bidding service provider entity 120 to retrieve data to process and distribute the information; d) the bank entity 130 gives permission to the bidding service provider entity 120 to access the participant specific data to process and distribute the information.
According to one embodiment the bidding service provider entity 120 has been given access to certain information by the bank entity 130 and step 215 comprises the bidding service provider entity 120 retrieving the participant specific information data from the bank entity 130 without having to request the specific information for each participant and bid.
According to one embodiment the bank entity provides the participant specific information data to the bidding service provider entity 120 upon issuing a loan consent to a client that is, or is planning to be, a participant in the bidding process. In this case the participant specific information data is stored by the bidding service provider entity 120 and used for generating the first processed information data and the second processed information data.
According to one embodiment the bidding service provider entity 120 controls the request, the processing of the participant specific information and the distribution of the different processed information to the participant entity 140 and the agent entity 110. According to one alternative embodiment the generation of the first and second processed information is performed by the bank entity 130 and sent to the bidding service provider entity 120 which in turn distribute the first processed information to the agent entity 110 and the second processed information to the participant entity 140.
The bidding object may for example be a real estate property and the object parameter specifying that it is a townhouse, suburban house or an apartment, for example, which is referred to as object type.
According to one embodiment of the invention the method comprises a step of the at least one participant entity 140 giving consent to the bidding service provider entity 120 to retrieve and distribute information from the bank entity 130. Alternatively, the participant entity 140 has previously given a consent to the bank entity 130 to accept a request from the bidding service provider entity 120.
Information data, participant specific information data and processed information data is typically is typical data that is stored in a database or originate from data stored in a database using conventional methods and arrangements for storing and transferring.
According to one embodiment the step of bidding 215 comprises the substeps of:
- 215:1 the bidding service provider entity 120 sending a request for participant specific information to the bank entity 130;
- 215:2 the bank entity 130 generating participant specific information data;
- 215:3 the bank entity 130 sending participant specific information data to the bidding service provider entity 120;
- 215:4 the bidding service provider entity 120 receiving the participant specific information data from the bank entity 130;
- 215:5 the bidding service provider entity 120 processing the participant specific information data and preparing first processed information data relating to the participant and second processed information data relating to the agent; and
- 215:6 the bidding service provider entity 120 sending the first processed information relating to the participant to the participant entity 140 and the second processed information relating to the agent to the agent entity 110.
According to one embodiment of the invention the participant specific information data generated by the bank entity 130 comprises information that should be kept secret from the agent entity 110 and the bidding service provider entity 120 processing the participant specific information data comprises filtering the participant specific information data so that the second processed information data relating to the agent is a subset of the first processed information data relating to the participant.
According to one embodiment of the invention the participant specific information data generated by the bank entity 130 comprises information that should be kept secret from the agent entity 110 and the bidding service provider entity 120 processing the participant specific information data comprises filtering the participant specific information data so that the second processed information data relating to the agent is a subset of the first processed information data relating to the participant. An example of such filtering a is that the participant specific information data comprises an indication of the participant having a loan clearance with the bank, a specification of object type linked to the loan clearance and the purchase amount specified in the loan clearance. The bidding service provider entity 120 filters out that a loan clearance exists and provides that information only in the second processed information to agent entity 110. Alternatively, bidding service provider entity 120 also provide other information, such as object type, in the second processed information to agent entity 110. However, information that could influence the bidding process in an unfair way, such as revealing the amount linked to the loan clearance should always be filtered out by the bidding service provider entity 120.
According to one embodiment of the invention the participant specific information data generated by the bank entity 130 comprises information that should be kept secret from the agent entity 110 and the bidding service provider entity 120 processing the participant specific information data comprises analyzing the participant specific information data and determining a ranking value that is comprised in the second processed information data relating to be sent to the agent entity 110. The ranking value should represent the likelihood of the participant not withdrawing the bid and being approved in the financial validation and contract phase. The ranking value may include an analysis of that a loan clearance exists and that the object type corresponds to the bidding object. Also other parameters may be included and the different parameters may be given different weight in the analysis. The ranking value may for example be an integer from for example 1 to 5, wherein a low number represent a match with all selected parameters and a lower value a mismatch in one or more parameters. Alternatively a grade-type value may be given, for example with a “5” representing the highest grade and “1” the lowest grade. According to one embodiment the amount specified in the loan clearance is one parameter that is used by the bidding service provider entity 120 performing the analysis for the ranking value. In that case the agent entity 110 is still not presented with the actual amount specified in the participant specific information data.
One implementation, representing one embodiment of the method according to the invention is illustrated figures 3 and 4, wherein figure 3 is a flowchart and figure 4 is a messaging scheme. Figure 4 illustrates the gateway function of the service provider entity 120 which ensures the integrity of the participant and yet provides the controlling function that the participant has the capacity to go through with the deal. The method according to the embodiment comprises the steps of:
- 300 the agent entity 110 identifying one bidding object and at least one object parameter relating to the bidding object. The object parameter may for example be an object type specifying the type of bidding object according to a predetermined classification. The agent entity 110 may 300: 1 send a set-up bidding message to the service provider entity 120 with information about the bidding object and bidding process;
- 305 at least one participant entity 140 registering with the agent entity 110 or the bidding service provider entity 120 as participants in a bidding process relating to the bidding object;
- 306 the agent entity 110 generating a bidding session message comprising a list of participants, the at least one object parameter and, and providing the bidding session message to the bidding service provider entity 120; and
- 307 the agent server or the bidding service provider server generates open bidding messages to the participants of the list of participants, the open bidding messages at least comprising a link to participation in the bidding process,
- 310 the at least one participant performing an E-identification and the at least one participant entity 140 giving consent to the bidding service provider entity 120 to retrieve and distribute information from the bank entity 130,
- 311 a consent message is provided from the participant entity 140 to the bidding service provider entity 120;
- 315 the at least one participant bidding on the bidding object;
- 315:1 the bidding service provider entity 120 sending a request message for participant specific information to the bank entity 130; - 315:2 the bank entity 130 generating a participant specific information data message:
- 315:3 the bank entity 130 sending the participant specific information data message to the bidding service provider entity 120;
- 315:4 the bidding service provider entity 120 receiving the participant specific information data message from the bank entity 130;
- 315:5 the bidding service provider entity 120 analyzing the participant specific information data message utilizing the bidding session message and preparing a participant message comprising first processed information data message relating to the participant and an agent message comprising second processed information data relating to the agent; and
- 315:6 the bidding service provider entity 120 sending the participant message to the participant entity 140,
- 317:7 and the agent message to the agent entity 110, and wherein steps 315:1 to 315:7 are repeated for at least each participant and/or each bid.
According to one embodiment the bidding session message comprises information about the object type of the bidding object and the participant specific information data message comprises information about the object type or types relevant for the participants loan clearance and the analysis performed by the bidding service provider entity 120 comprises comparing the object type of the bidding session message and the participant specific information data message.
According to one embodiment the bidding service provider entity 120 analyzing the participant specific information data message by comparing the bid from the participant entity 140 with the loan clarence with regards to one of or a combination of the following parameters: object type, period of validity, specified amount and running cost.
According to one embodiment of the invention the bidding service provider entity 120 analyzing participant specific information data message and monitors the bids placed by the participant entity 140 and if the bid is within a predetermined range from the given upper limit of the loan clearance the participant entity 140 is notified. Upon such notification the participant may contact the bank, or another bank, to apply for a new loan clearance with a higher upper limit. In the same manner the bidding service provider entity 120 may monitor and notify the participant entity 140 is a period of validity specified in the loan clearance is about to expire. It has above been described as the agent and agent entity being an active part in the selling and the receiver of information. Also the seller may be provided with information throughout the process, for example from the agent entity 110 or from the bidding service provider 120. Typically, the seller would receive the same type of filtered or processed information as the agent entity 110 receives from the bidding service provider 120 in order to maintain the integrity of the bidder.
The embodiments described above are to be understood as illustrative examples of the system and method of the present invention. It will be understood that those skilled in the art that various modifications, combinations and changes may be made to the embodiments. In particular, different part solutions in the different embodiments can be combined in other configurations, where technically possible.

Claims

Claims:
1. A method for providing security and integrity in a bidding process, the method implemented in a system (100) comprising an agent entity (110) running an agent application, a bank entity (130) running a bank application, and a bidding service provider entity (120) running a bidding service provider application and at least on participant entity (140) running a participant application, wherein at least the bidding service provider entity (120) is separated from the bank entity (130) and from the agent entity (110), the method comprising the steps of:
- (200) the agent entity (110) identifying one bidding object and at least one object parameter relating to the bidding object;
- (205) at least one participant entity (140) registering with the agent entity (110) or the bidding service provider entity (120) as participants in a bidding process relating to the bidding object;
- (210) the bidding service provider entity (120) or agent entity (110) initiating a bidding process by informing the participants of the start of a bidding process; and
- (215) the bidding service provider entity (120) receiving participant specific information data originating from the bank entity (130); and the bidding service provider entity (120) generating first processed information data based on the participant specific information data and distributing the first processed information data to the participant entity (140) and the bidding service provider entity (120), and generating second processed information data based on the participant specific information data distributing the second processed information data to the agent entity (110).
2. The method according to claim 1, wherein the step (215) is activated upon the bidding service provider entity (120) being notified that at least one participant is placing a bid and the bidding service provider entity (120) generating and sending at least one request for participant specific information to the bank entity (130); participant specific information data is generated by the bank entity (130) and sent to the bidding service provider entity (120).
3. The method according to claim 1 or 2, wherein the step of bidding 215 comprises the sub steps of:
- (215:1) the bidding service provider entity (120) sending a request for participant specific information to the bank entity (130);
- (215:2) the bank entity (130) generating participant specific information data;
- (215:3) the bank entity (130) sending participant specific information data to the bidding service provider entity (120);
- (215:4) the bidding service provider entity (120) receiving the participant specific information data from the bank entity (130);
- (215:5) the bidding service provider entity (120) processing the participant specific information data and preparing a first processed information data relating to the participant and a second processed information data relating to the agent; and
- (215:6) the bidding service provider entity (120) sending the first processed information relating to the participant to the participant entity (140) and the second processed information relating to the agent to the agent entity (110).
4. The method according to any of the preceding claims, wherein the participant specific information data generated by the bank entity (130) comprises information that should be kept secret from the agent entity (110) and the bidding service provider entity (120) processing the participant specific information data comprises filtering the participant specific information data so that the second processed information data relating to the agent is a subset of the first processed information data relating to the participant.
5. The method according to any of the preceding claims, wherein the participant specific information data generated by the bank entity (130) comprises information that should be kept secret from the agent entity (110) and the bidding service provider entity (120) processing the participant specific information data comprises analyzing the participant specific information data and determining a ranking value that is comprised in the second processed information data relating to be sent to the agent entity (110), wherein ranking value should represent the likelihood of the participant not withdrawing the bid.
6. The method according to claim 5, wherein the participant specific information data generated by the bank entity (130) comprises parameters that indicate if a loan clearance exists and the object type or object types relating to the loan clearance and the determination of the ranking value includes an analysis of that a loan clearance exists and that the object type corresponds to the bidding object.
7. The method according to any of the proceeding claims comprising the steps of:
- (300) the agent entity (110) identifying one bidding object and at least one object parameter relating to the bidding object;
- (305) at least one participant entity (140) registering with the agent entity (110) or the bidding service provider entity (120) as participants in a bidding process relating to the bidding object;
- (306) the agent entity (110) generating a bidding session message comprising a list of participants, the at least one object parameter and, and providing the bidding session message to the bidding service provider entity (120); and
- (307) the agent server or the bidding service provider server generates open bidding messages to the participants of the list of participants, the open bidding messages at least comprising a link to participation in the bidding process,
- (310) the at least one participant performing an E-identification and the at least one participant entity (140) giving consent to the bidding service provider entity (120) to retrieve and distribute information from the bank entity (130), and a consent message (311) is provided to the bidding service provider entity (120);
- (315) the at least one participant bidding on the bidding object;
- (315:1) the bidding service provider entity (120) sending a request message for participant specific information to the bank entity (130);
- (315:2) the bank entity (130) generating a participant specific information data message;
- (315:3) the bank entity (130) sending the participant specific information data message to the bidding service provider entity (120);
- (315:4) the bidding service provider entity (120) receiving the participant specific information data message from the bank entity (130);
- (315:5) the bidding service provider entity (120) analyzing the participant specific information data message utilizing the bidding session message and preparing a participant message comprising first processed information data message relating to the participant and an agent message comprising second processed information data relating to the agent; and
- (315:6) the bidding service provider entity (120) sending the participant message to the participant entity (140) and the agent message (315:7) to the agent entity (110), and wherein steps 315:1 to 315:7 are repeated for at least each participant and/or each bid.
8. The method according to claim 5, wherein the bidding session message comprises information about the object type of the bidding object and the participant specific information data message comprises information about the object type or types relevant for the participants loan clearance and the analysis performed by the bidding service provider entity (120) comprises comparing the object type of the bidding session message and the participant specific information data message.
9. A system (100) for providing security and integrity in a bidding process, the system (100) comprising an agent entity (110) running an agent application, a bank entity (130) running a bank application, and a bidding service provider entity (120) running a bidding service provider application and at least on participant entity (140) running a participant application, wherein at least the bidding service provider entity (120) is separated from the bank entity (130) and from the agent entity (110), wherein
- the agent entity (110) is arranged to identify (200;300) one bidding object and at least one object parameter relating to the bidding object;
- at least one participant entity (140) is arranged to register (205;305) with the agent entity (110) or the bidding service provider entity (120) as participants in a bidding process relating to the bidding object; and wherein the a bidding service provider entity (120) is arranged to generate at least one request for participant specific information is and to send the request to the bank entity (130), and
-the bank entity (130) is arranged to provide participant specific information data and to the bidding service provider entity (120), and
-the bidding service provider entity (120) is arranged to generate first processed information data based on the participant specific information data and to distribute to the participant entity (140) and to generate second processed information data based on the participant specific information data and to distribute to the agent entity (110), the first processed information data being different from the second processed information data.
10. The system (100) according to claim 9, wherein the a bidding service provider entity (120) is arranged process the participant specific information data generated by the bank entity (130) by filtering the participant specific information data so that the second processed information data relating to the agent is a subset of the first processed information data relating to the participant.
11. The system (100) according to claim 9, wherein the a bidding service provider entity (120) is arranged process the participant specific information data generated by the bank entity (130) by determining a ranking value that is comprised in the second processed information data relating to be sent to the agent entity (110), wherein ranking value should represent the likelihood of the participant not withdrawing the bid.
PCT/SE2021/050617 2020-06-25 2021-06-23 Method and system for controlling a bidding process Ceased WO2021262073A1 (en)

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SE2050841 2020-07-03

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US8234180B2 (en) * 2007-03-19 2012-07-31 Asaf David Danzan Method and system for determining market demand for buying and selling properties
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