WO2004003795A1 - System for managing and administering member transactions in the real property industry - Google Patents

Abstract

A global communications network, typically an Internet web based system for managing transactions in a one database environment for all members including a central web-based platform, typically a hub or portal, the web-based platform providing access to websites or email addresses of members, who are contactable through a universal resource locator via a member user system, the web server central processor interfacing with a directory component adapted to enable location of a particular member's web address or website, geographical location or type of property product and or other investment product, a database component adapted to store member data and information, a database management component adapted to allow input and retrieval of the data and information, a web browser component adapted to interrogate and provide access to the information and data, a member identification component adapted to qualify a member's access to the information and data, and a transaction management component adapted to invoice and manage fund transfers between the members.

Description

SYSTEM FOR MANAGING AND ADMINISTERING MEMBER TRANSACTIONS

IN THE REAL PROPERTY INDUSTRY

FIELD OF THE INVENTION This invention relates to real property in particular but not limited to a novel system of managing the sale of, the development of, and the construction of real property; managing the financing of real property; managing of databases of purchasers; management of transactions; management of assets; management of property funds and other wealth creation funds; management of first mortgage funds; management of first and second mortgage transactions and other lending products; management of derivatives, warrants, shares and other smaller parcels of real property and the management of transactions of all associated products of the real property industry and wealth creation industry in an electronic commerce product services exchange in a web based transaction and database management hub or portal that links interested parties on a subscription or non subscription basis.

BACKGROUND OF THE INVENTION

In the traditional prior art process of managing the transactions and databases of real property, a single entity such as a property developer has the conduct of the process from the point of land acquisition to the disposal of the completed residential, commercial, industrial or retail product. The property developer employs real estate agents or property marketers on a commission basis to sell off the plan contracts associated with the real property the subject of a particular development. The property developer assumes all the risk associated with the project financing and construction. The purchasers of the off the plan contracts do not settle until construction is completed and occupancy can be achieved. In the prior art process, the management of assets, sales, financing, development, construction, databases, transactions and other entities is not done in an electronic commerce environment, but is managed by the property developer who acts purely in his own interests without considering all the other stakeholders within the industry and each of the other stakeholders all operate within their own intranet and or Internet based management systems with their own particular database that is unable to communicate with other databases . It is largely a completely disjointed management process with current legislation being ineffective in bringing the many conflicting parties together for the benefit of the industry as a whole. The traditional process is expensive to manage, and does not integrate the total process, such that only some parts operate in an electronic environment, creates many conflicts of interest, is detrimental to the landowner, is detrimental to the consumer, causes undue pressure on all the participants and investment advice is often given by persons not qualified to give such advice. There is also the problem of managing payments to external sources of a physical project thereby creating an environment that is not conducive to managing risk. The tracking of payments is an integral part of the real property industry and under the prior art method there is no overall system that manages this process. OBJECT OF THE INVENTION

It is therefore an object of the present invention to seek to ameliorate some of the disadvantages and limitations of traditional prior art systems of managing the real property industry and the wealth creation industry through the provision of a comprehensive electronic product services exchange that manages transactions and member databases within a one database environment for the stakeholders in these industries or to at least provide the public with an alternative and useful choice.

STATEMENT OF THE INVENTION According to one but not necessarily the only aspect, the invention resides in a global communications network, typically an Internet web based system for managing transactions between members and providing a one database environment for all members including in combination a central web-based platform, typically a hub or portal, the web-based platform providing access to internal or external websites or email addresses of members, who are contactable through a universal resource locator by members via a member user system, the web server central processor interfacing with a directory component adapted to enable location of a particular member's web address and/or website, geographical location or type of property product and or other investment product, a database component adapted to store member data and information, a database management component adapted to allow input and retrieval of the data and information, a web browser component adapted to interrogate and provide access to the information and data, a member identification component adapted to qualify a member's access to the information and data, and a transaction management component adapted to invoice and manage fund transfers between the members , wherein in operation, by logging on to the central web-based platform, and following provided instructions, the qualified member can be connected to another member's internal or external websites and wherein any transactions or fund transfers inclusive of subscription payments can be tracked, managed and recorded by the transaction management component. In another aspect, the invention resides in an Internet based system of researching or purchasing real property from either a development managers product site where settlement occurs prior to construction commencing; or a traditional property developer's site where settlement occurs at completion of construction or a real estate agents site for the settlement of pre - owned property, all parties utilising specially created sites specific to the legal needs of dealer groups within the wealth creation industry for the settlement of sale and construction draw-downs of direct property and managing the associated transactions between members as hereinabove described by inclusion of: a directory component accessable by the dealer groups advisors and their clients used to locate a particular development manager's or property developers or real estate agents website or web address or the geographical location or the type of property product, for inclusion on the parties recommended list or product list and the ability to transfer the direct property product to a wrap account of the particular client attached to the advisor, the member identification component used to qualify a member access to information and data on the development mangager's or property developers or real estate agents website, the development manager's or property developers or real estate agents website adapted to provide on-line presentation of the due diligence and qualities of the property product together with an invitation to enter into a purchase agreement to purchase the property product, the development manager's website software also providing a visual tour of any projects undertaken by the development manager inclusive of the location and the surrounding infrastructure and overall view of the project, design of the building and strata title units, selection of floor plans of different strata title units or property products within the project, virtual tours of proposed insides of the property products with simulated views from each window within the unit, listing of unique benefits attached to any investment, an investment analysis of a purchaser's total investment, providing independent market research and statistical profile, an investment grade rating to each investment product, the development manager's website software providing prompts for answers to questions for market research purposes and purchaser's impressions of projects and product within projects, the development manager's website including an expression of interest component wherein a purchaser interested in purchasing a strata title unit or property product within a project can enter into an expresssion of interest agreement with the development manager, said interest of expression component filling in details of the subscribing purchaser and development manager from the database and collection of a required deposit to secure the expression of interest, wherein the deposit is held in a product services exchange trust account on behalf of the property owner until settlement occurs, the development manager's website software further advising the purchaser by email of their interest in the particular strata title unit and emailing the expression of interest to the development manager's solicitor for the preparation of formal contracts, also emailing financial planners to prepare a financial plan for the purchaser and to arrange for any finance needed to complete the project.

Preferably there is a project management and compliance module adapted to manage all tasks carried out by internal managers, allow for billing rates to be set for each team member of an internal management team and wherein all time spent on projects is tracked and records kept inclusive of telephone calls, emails, documents created, events and any other tasks managed by the internal management's team. The advisor, their client and other interested parties are requested to use this compliance module to record all telephone, email and meeting events within the project for compliance monitoring.

An invoicing system for tracking and recording all transactions associated with a project or a particular direct property product that allows for procedures to be input by each member for compliance within their given discipline eg Architect,

Quantity Surveyor, Engineer, Builder, Lender, Asset Manager, Land Owner or any other stakeholder associated with a project or a particular direct property product.

Preferably the member system is a computer system with an interactive display means for communication via the Internet.

Preferably the interactive display means includes a visual display unit with an interactive device, typically a key pad, touch pad, mouse and/or joystick device.

Preferably information and data on the website is presented and accessed by all members online via the web browser. Preferably the directory component enables members to be located by their title, name, physical address, locality, post code, discipline or by the type of goods or services provided.

Preferably the member identification component includes security protocols that qualify and restrict access of the member according to the member's security clearance or access levels. The member identification component preferably comprises a firewall, an access manager and a software router to qualify the access of the member to appropriate application layers of the web server according to the security clearance or access level of the member.

Preferably member access is via a user name and/or password recognised or rejected by the access manager.

Preferably the accounting functions are able to be varied and adjusted via the Internet.

Preferably the information and data held in the database can be interrogated and can be manipulated to produce various reports via the Internet. The database is preferably a relational database which is managed by a relational database management system. Suitably the members include statutory authorities, consultants, builders, land owners, development managers, members providing financial services, solicitors, insurance providers, financial planners, accountants, ordinary consumers, banks and other financial institutions, paycard loyalty program providers, suppliers including building suppliers, property traders, and other entities or stakeholders associated within the Property Industry or Wealth Creation Industry.

Preferably the web server also interfaces with a navigation component adapted to provide a virtual display of an ambulatory walk through view of selected projects or properties via the web browser.

Preferably members can peruse the products and services of selected business and purchase products or services online using their credit card or a direct transfer from their bank account using secure payment links for example, e- sec or B-Pay or the equivalent of such secure sites.

BRIEF DESCRIPTION OF THE DRAWINGS

In order that the invention be more readily understood and put into practical effect, reference will now be made to the accompanying illustrations wherein: Figure 1 and Figure 1A show a flow diagram and a wheel diagram of a preferred architecture and scheme of the invention.

Figure 2 comprises a flow diagram of a preferred architecture of the invention relating to the management of a website/hub for transaction management, database management, project management, wrap account management for the management, purchase and transfer of real direct property product and other wealth creation products between members within the website according to the invention.

DETAILED DESCRIPTION

Figure 1 and Figure 1A

Figure 1 shows a preferred architecture of the invention according to Example 1. The wheel diagram of the central portal in Figure 1A demonstrates the linking of all members 2a, 2b, 2c, etc. of the platform preferably a hub or portal and the relationship they have to other members of the platform and the flow diagram. Figure 1 shows the architecture and steps of operation of a preferred administration system to manage the transactions and database associated with the platform referring to Figure 1.

Any person typically a potential member can log on to or index (0) the platform and review what the portal/hub is about (01). The potential member can look at advertisements (02), can look at the benefits of becoming a member (03), can look at how they can contact the manager (04), provide feedback about the site (05), look at the privacy policy (06) and then register as a member if they wish.

Registration (1) is the first step required before any business member or consumer product member can gain access to the benefits of the platform referred hereinforth as Product Services Exchange ("PSX"™). Businesses (2) being Dealers, licensed advisors (3) such as financial planners, accountants or investment advisors or any other group or person who is licensed to give investment advice, or suppliers (4), such as all businesses, consultants, landowners, solicitors, financiers, insurance companies etc who offer services or products to the real property industry who wish to offer their products or services on the PSX site are required to register as members of the PSX prior to being able to list their products or services. They are required to agree to the listing rules and transaction fees (5) of PSX by online agreement to the rules. They then enter all their relevant details (6) required by the exchange for their subscription to be processed and an automatic confirmation (7) is sent by email confirming their membership subscription number and password (8). At this stage businesses can then list their products or services (9) through liaison with the PSX products and services specialists. Dealers and advisors can also enter their database of clients on PSX as personal members (10) (automatically or manually (11) so their clients have access to all the benefits offered by participants in the PSX. Each member so listed is required to agree to the membership rules (12) prior to having access to the benefits of PSX. These databases of clients belong exclusively to the Dealer Groups or advisors listing them, and no other member of the exchange has access to these databases. It is entirely up to the Dealer Group or advisor to approve whether a product or service can be offered to their client database by a business of the exchange. If an approval is obtained from the Dealer or Advisor (13), then PSX will activate an email (14) to the dealers/advisor database or advisors client database, advising them of the product or service available, and provide a web address in the email so the product or service can be viewed prior to recommendation or purchase. This email when sent by PSX will actually come from the Dealer or advisor who normally has recommended the product even though it may have been activated by the development manager system. The email cannot be activated through PSX if the Dealer/advisor has not given its approval. If a consumer (15) enters the site without being listed by a Dealer/advisor, they will be required to agree to the membership rules(16), enter all details required to become a member of PSX (17) and nominate a financial planner, or licensed advisor (18). PSX then automatically does a search of the database to see if they are already a client of a registered advisor member of PSX. If they are already a member PSX asks whether they wish to change advisors and then activates a member alert to the existing advisor so he has 48 hours to contact their client to determine why they want to change advisors. If they cannot convince their client not to change, then PSX deletes the old membership details and (20) new membership details are attached to the new advisor (21) and new registration occurs (22) and new login instructions are then emailed to the consumer product member (23).

If the consumer product member nominates an Advisor who is not a registered Licensed Advisor of PSX (24) then PSX asks the consumer product member to enter the details of their nominated licensed advisor (25) who is then contacted to join PSX or they are asked to select one of the existing PSX licensed advisors

Once a business or a consumer becomes a member and has a membership number and a password, they can login (26) to the members section (27). Once in the members section, a business supplier has their own virtual website or database view within PSX so they can run their business within the PSX platform. They can advertise on within their website or on PSX by entering the advertising section (28) which will allow member suppliers to advertise their products and services to other members on the platform / hub / portal by paying an advertising fee to PSX. All members can search the site for Direct Property investment products or other Wealth creation products (29). This links the member to the development managers or fund managers who are also members, and are the suppliers of real property products e.g. Strata Title units typically residential, commercial, retail or industrial and or other wealth creation products that should be part of a balanced investment portfolio This search can be done by country, state, town or suburb. These products can be purchased online in a secure environment. Business suppliers or Dealers can list their products or services (30). This allows these members to create an internal virtual website address on the portal which will contain an electronic shop front of the business and allow for the business to list their products or services for sale to other members and manage their business within PSX. Members are able to search businesses (31) for their products or services. This section allows members to peruse the products and services of selected business and purchase products or services online using their credit card or a direct transfer from their bank account using secure payment links for example, e-sec or B-Pay or the equivalent of such secure sites, this section also allows tracking of all transactions and linking to external accounting packages. Members can also access Press releases (32) associated with the site and can review newsletters (33) provided for members.

Business members (e.g. suppliers and resellers) have access to the administration section (34) of the platform so they can manage their business within the portal and manage the financial transactions associated with their business, which includes internal invoicing and debt collection from within the platform. Each business can update (35) their products or services at any time which is similar to a shop restocking its shelves and changing its prices. This is done electronically, so that the list of products or services being offered for sale is up to date, both from a product and services and a price point of view. Businesses can view and generate different reports (36) regarding their business. For example, a Dealer or advisor can view and exclusively manage their clients in relation to all transactions taking place on the platform. For example, a client may have purchased a property from a development managers site and the advisor may wish to track all things happening in relation to their clients purchase of the real direct property product, such as when deposits are due, when land settlements are required, when construction draw downs are due and payable and also what communications have happened with their client. A supplier may wish to generate a report on how many members have visited its site, or generate a report on all transactions that have occurred within their business on the PSX. The platform also allows for businesses to invoice (37) via PSX for all services or products provided on the PSX to members so they can receive and track payments for all the product or services sold on PSX to the members. The supplier has agreed with PSX as part of the listing agreement for PSX to deduct a transaction fee prior to PSX paying the business on the invoice. Business members and consumer product members are required under their membership agreements and listing agreements to pay all bills (38) in relation to transactions between members of PSX. At any time a member can view their entire transactional history (39) they have made within PSX. Members can also undertake searches (40) of all related databases of the PSX platform

Figure 2 (The Property System) I I

Figure 2 shows a preferred method of managing the sale of real property and the managing the unique financial benefits associated with the purchase of real direct property under a property development management system according to the invention. Any member to the PSX portal/hub has unique access to the development managers site that is not available to non members. The only way you can get to a development managers site is by being a member of PSX. Members only have access to these sites via PSX when they have chosen a location or type of property they wish to view from the database search engine of PSX. Once entering the particular development manager's site that contains the selected property, the member can view a presentation about the development manager or contact the development manager via email if they have any questions. Only members of PSX can access the properties on the site for viewing using their unique membership number to gain entry. The PSX member is also required to agree to the electronic Confidentiality Deed as a condition of entry to the site. The member is now able to access the secure environment.

Once a member of PSX they can then login (6) and access the exclusive members section (7). This allows a member to view the unique benefits associated with the particular development managers listed property projects. Landowner members or reseller members can choose an online presentation (10 ) about the particular development manager. A landowner (10a) will choose the landowner presentation to decide whether he wishes to enter into a development management agreement with the development manager to develop the landowners land, if the landowner decides that his property may suit the development managers profile and the development manager is someone the landowner feels comfortable with after the online presentation, the landowner can activate an email to the development manager for a preliminary feasibility study to be carried out on his land. An advisor (10b) will choose the advisor presentation to decide whether to recommend the real direct property product and the attached unique member benefits to their client base. A development manager must at all times obtain the accreditation of the Dealer group prior to being able to activate an email that recommends the development managers product to the dealer/advisor clients. An advisor may choose to lock in the direct property product within the project for its clients. To do this the advisor must activate an expression of interest entry on a project and enter into an expression of interest agreement on each unit on behalf of its clients and pay online for the required deposit to secure the product for its clients. If the advisor activates a product add to their list an email is automatically sent to its nominated client database recommending the project/product, then the clients can, once they receive the email activate the web address of the development managers project/product and this will automatically take them to the project/product on the development managers website. A member can access projects (11) and take a virtual tour of the development manager's different projects (12). On gaining access to the project the member can start the virtual tour of the project and the strata title units within the project. The virtual tour will consist of an Introduction to the project (12a), a tour of the location and the surrounding infrastructure (12b), a overall view of the project (12c), a look at the design of the building and the strata title units (12d), a selection of floor plans of the different strata title units within the project and a virtual tour of the proposed inside of the unit with a look at the views from each window within the unit (12e). Also included is a list of unique benefits attached to the investment (12f), an investment grade rating on the project/product and development manager, an investment analysis of the investment (12g) and an independent market research and statistical profile presentation (12h). During the virtual tour the member will be prompted to answer questions for market research purposes of their impressions of the project/product. If the member then wishes to enter into an expression of interest agreement to purchase a direct property product within the project then they activate the expression of interest component (13), which then automatically fills in all the details (13a) of the member from the common database and asks the member to pay the required deposit to secure the expression of interest. The deposit is held in the PSX solicitors trust account on behalf of the landowner member and the consumer product member until a settlement occurs. The member is then advised by email that they have secured their interest in the particular direct property product. At the same time the expression of interest is emailed to the development manager's solicitor (13c) for preparation of formal contracts, to the advisor to advise them to prepare a financial plan for their client and organize any required finance and to the development manager software program which automatically activates the member as a purchaser in the particular project.

ADVANTAGES

The advantages of the present subject management process over traditional management mechanisms are set out in this section.

One of the unique advantages of PSX is access to the APSL development manager project/product where there is no single developer in the management process and no one party carries all the risk. This introduces significant flexibility to the management process, delivers financial benefits and delivers a better quality product.

Because return on costs is received at the point of settlement of the transfer of title to individual buyers, which also occurs prior to commencement of construction, without the need for debt risk which is currently unavailable in the industry at present, returns are significantly greater than under the traditional development mechanism, so much so, that the APSL development manager direct property product can be given an investment grade rating which allows it to become a true wealth creation product for dealer groups The creation of titles prior to construction adds significant benefits to members purchasing real direct property. All real direct property product sold through PSX has a requirement for a financial plan to be written by a qualified financial planner or investment advisor which is not the requirement of any prior art system. The property development process is managed by an integrated electronic system that has a common database and is to the advantage of members, that is absent in the traditional prior art method.

The elimination of conflicts of interest in the management of real direct property, without the need for property developers as is required in the prior art system. The ability to sell derivatives, warrants and smaller parcels of real property within a fund without the need for substantial risk within the fund or the project within the fund by using the APSL Development Management System is currently unavailable in the industry at present. The ability to operate in an e-commerce environment that will bring down

1he enormous costs currently associated with the prior art system.

The use of a common database between the development manager, development industry participants of PSX e.g. landowners, builders, suppliers, consultants and consumers, the funds manager, the financial planner, the asset managers, the financiers and other real property industry participants which is not linked under the prior art system.

The management of all industry transactions within the one platform / hub / portal for ease of reporting, management of transactions, creating industry standards, providing a research tool for the industry, providing members with useful information which eliminates the disjointed prior art approach.

Providing members with management advantages previously unavailable with prior art systems.

Provides all the tools for a total re-engineering of current process to the benefit of the industry as a whole.

VARIATIONS

It will of course be realised that while the foregoing has been given by way of illustrative example of this invention, all such and other modifications and variations thereto as would be apparent to persons skilled in the art are deemed to fall within the broad scope and ambit of this invention as is herein set forth.

Throughout the description and claims this specification the word "comprise" and variations of that word such as "comprises" and "comprising", are not intended to exclude other additives, components, integers or steps. The abbreviation PSX and the phase, "product services exchange" is not intended to exclude "property stock exchange", "property services exchange", "project services exchange." The term platform is intended to include web based configurations know as "hubs" or "portals"

Claims

1. A global communications network, typically an Internet web based system for managing transactions between members and providing a one database environment for all members including in combination a central web-based platform, typically a hub or portal, the web-based platform providing access to internal or external websites or email addresses of members, who are contactable through a universal resource locator by members via a member user system, the web server central processor interfacing with a directory component adapted to enable location of a particular member's web address or website, geographical location or type of property product and or other investment product, a database component adapted to store member data and information, a database management component adapted to allow input and retrieval of the data and information, a web browser component adapted to interrogate and provide access to the information and data, a member identification component adapted to qualify a member's access to the information and data, and a transaction management component adapted to invoice and manage fund transfers between the members , wherein in operation, by logging on to the central web-based platform, and following provided instructions, the qualified member can be connected to another member's internal or external websites and wherein any transactions or fund transfers inclusive of subscription payments can be tracked, managed and recorded by the transaction management component.

2. The internet web based system of claim 1 used in relation to researching or purchasing real property from either a development managers product site where settlement occurs prior to construction commencing or a traditional property developer's site where settlement occurs at completion of construction or a real estate agents site for the settlement of pre - owned property, all parties utilising specially created sites specific to the legal needs of dealer groups within the wealth creation industry for the settlement of sale and construction draw-downs of direct property and managing the associated transactions between members as by inclusion of: a directory component accessable by the dealer groups advisors and their clients used to locate a particular development manager's or property developers or real estate agents website or web address or the geographical location or the type of property product, for inclusion on the parties recommended list or product list and the ability to transfer the direct property product to a wrap account of the particular client attached to the advisor, the member identification component used to qualify a member access to information and data on the development mangager's or property developers or real estate agents website, the development manager's or property developers or real estate agents website adapted to provide on-line presentation of the due diligence and qualities of the property product together with an invitation to enter into a purchase agreement to purchase the property product, the development manager's website software also providing a visual tour of any projects undertaken by the development manager inclusive of the location and the surrounding infrastructure and overall view of the project, design of the building and strata title units, selection of floor plans of different strata title units or property products within the project, virtual tours of proposed insides of the property products with simulated views from each window within the unit, listing of benefits attached to any investment, an investment analysis of a purchaser's total investment, providing independent market research and statistical profile, an investment grade rating to each investment product, the development manager's website software providing prompts for answers to questions for market research purposes and purchaser's impressions of projects and product within projects, the development manager's website including an expression of interest component wherein a purchaser interested in purchasing a strata title unit or property product within a project can enter into an expresssion of interest agreement with the development manager, said interest of expression component filling in details of the subscribing purchaser and development manager from the database and collection of a required deposit to secure the expression of interest, wherein the deposit is held in a product services exchange trust account on behalf of the property owner until settlement occurs, the development manager's website software further advising the purchaser by email of their interest in the particular strata title unit and emailing the expression of interest to the development manager's solicitor for the preparation of formal contracts, also emailing financial planners to prepare a financial plan for the purchaser and to arrange for any finance needed to complete the project.

3. An internet web based system as claimed in claim 1 or claim 2 wherein there is a project management and compliance module adapted to manage all tasks carried out by internal managers, allow for billing rates to be set for each team member of an internal management team and wherein all time spent on projects is tracked and records kept inclusive of telephone calls, emails, documents created, events and any other tasks managed by the internal management's team.

4. An internet web based system as claimed in claim 1 or claim 2 wherein there is an invoicing system for tracking and recording all transactions associated with a project or a particular direct property product that allows for procedures to be input by each member for compliance within their given discipline eg architect, quantity surveyor, engineer, builder, lender, asset manager, land owner or any other stakeholder associated with a project or a particular direct property product.

5. An internet web based system as claimed in claim 1 or claim 2 wherein the member user system is a computer system with an interactive display means for communication via the Internet.

6. An internet web based system as claimed in claim 5 wherein the interactive display means includes a visual display unit with an interactive device, typically a key pad, touch pad, mouse or joystick device.

7. An internet web based system as claimed in claim 1 or claim 2 wherein information and data on the website is presented and accessed by all members online via a web browser.

8. An internet web based system as claimed in claim 1 or claim 2 wherein the directory component enables members to be located by their title, name, physical address, locality, post code, discipline or by the type of goods or services provided.

9. An internet web based system as claimed in claim 1 or claim 2 wherein the member identification component includes security protocols that qualify and restrict access of the member according to the member's security clearance or access levels. The member identification component preferably comprises a firewall, an access manager and a software router to qualify the access of the member to appropriate application layers of the web server according to the security clearance or access level of the member.

10. An internet web based system as claimed in claim 1 or claim 2 wherein member access is via a user name or password recognised or rejected by the access manager.

11. An internet web based system as claimed in claim 1 or claim 2 wherein any accounting functions are able to be varied and adjusted via the Internet.

12. An internet web based system as claimed in claim 1 or claim 2 wherein the information and data held in the databases can be interrogated and can be manipulated to produce various reports via the Internet.

13. An internet web based system as claimed in claim 12 wherein the databases are relational databases which are managed by a relational database management system.

14. An internet web based system as claimed in claim 1 or claim 2 wherein the members include statutory authorities, consultants, builders, land owners, development managers, members providing financial services, solicitors, insurance providers, financial planners, accountants, ordinary consumers, banks and other financial institutions, paycard loyalty program providers, suppliers including building suppliers, property traders, and other entities or stakeholders associated within the property industry or wealth creation industry.

15. An internet web based system as claimed in claim 1 or claim 2 wherein the web server also interfaces with a navigation component adapted to provide a virtual display of an ambulatory walk through view of selected projects or properties via the web browser.

16. An internet web based system as claimed in claim 1 or claim 2 wherein members can peruse the products and services of selected business and purchase products or services online using their credit card or a direct transfer from their bank account using secure payment links for example, e-sec™ or B- Pay™ or the equivalent of such secure sites.

17. An internet web based system for managing transactions substantially as herein described with reference to any one of the accompanying illustrations.