US 11,861,747 B1
Time on market and likelihood of sale prediction
Stanley B. Humphries, Sammamish, WA (US); Dong Xiang, Sammamish, WA (US); Yeng Bun, Seattle, WA (US); Krishna Rao, Seattle, WA (US); Elisa Sheng, Seattle, WA (US); and Chris Sipola, Seattle, WA (US)
Assigned to MFTB Holdco, Inc., Seattle, WA (US)
Filed by Zillow, Inc., Seattle, WA (US)
Filed on Sep. 7, 2017, as Appl. No. 15/698,276.
Int. Cl. G06Q 50/16 (2012.01); G06Q 30/0201 (2023.01); G06N 20/00 (2019.01)
CPC G06Q 50/16 (2013.01) [G06N 20/00 (2019.01); G06Q 30/0206 (2013.01)] 32 Claims
OG exemplary drawing
 
1. A method in a computer system having a processor to train a model for estimating a length of time from listing a home for sale at a listing price to sale of the home, using home listing transactions and a result of the home listing transactions, the method comprising:
accessing, for each of a first plurality of homes that were listed for sale, values of attributes for the home including the listing price at which the home was listed for sale, and listing information including a length of time the home was on a real estate market and the result of the home listing transactions;
creating, by the processor, a model for estimating a time from listing to sale;
training the model, using the values of the attributes and the accessed listing information, such that the model is generates an estimated length of time from listing to sale of a distinguished home based on the values of the attributes for the distinguished home and the listing price for the distinguished home, wherein training the model further comprises:
collecting a plurality of sale transactions in a geographic area, each of the plurality of sale transactions having a subject home,
for each of the plurality of sale transactions in the geographic area, computing a ratio of listing price for the subject home of the sale transaction to at least one value of the subject home of the sale transaction,
determining an aggregate of the computed ratios, wherein the aggregate of the computed ratios includes a mean of the computed ratios or a median of the computed ratios, and
for at least one sale transaction of the plurality of sale transactions in the geographic area,
determining that the ratio computed for the sale transaction is more than a threshold distance from the determined aggregate of the computer ratios, and
in response to determining that the ratio computed for the sale transaction is more than the threshold distance from the determined aggregate of the computed ratios, discarding the sale transaction from the plurality of sale transactions;
retrieving an automatically determined estimate of a value of a first home in the geographic area;
estimating, using the trained model, for the first home in the geographic area, a number of days from listing to sale based upon (a) the automatically-determined estimate of the value of the first home in the geographic area and (b) sale transactions of the plurality of sale transactions that have not been discarded; and
providing for display to a first user a graph that includes,
for each of a plurality of listing prices for the first home,
an indication of a sale probability for the first home at the listing price for the first home, and
an indication of an estimated number of days on market for the first home at the listing price for the first home.