Database Management System for Real Estate
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Database Management System for Real Estate
Product scope
Our final product will be a database management system that helps the real estate company work more efficiently. It assists agents in understanding market trends, tracking their client’s leads. Managers can use the database to evaluate the performance of their agents by tracking the agent deals and commissions.
Managers of the company can access all the information about agents, such as all agents’ contact information, total revenue generated, which region the agent operates in, when the agent joins the company. They can get up-to-date information about what deal the agent is making. They can compare an agent’s performance to agents in the same region to find out who is the region’s top salesperson. They will decide payroll based on their sales performance.
All agents can access the client information about the client telephone, address, accumulative revenue generated from the client, whether they have a house on sale. It can help an agent identify which clients contribute most to profit and follow up on them.
All agents can access the database from the user interface and add clients and housing information. It can be whether the house is for vacation or located in the city, how many hospitals and schools are near the house, crime rate, infrastructure condition, convenience level, etc.
The pricing is determined by the agent who is dealing with this case, managers, and other experienced agents. They will give approximate pricing based on the neighborhood information and previous pricing of the house. Agents can access the database to read the approximate price to help decide the price of a house. When they actually sell the house, they add the actual price sold to the database.
Assumptions and Constraints:
To ensure the successful implementation of the project, there are some assumptions as a premise. Firstly, having a well-designed database is an indispensable factor, containing the latest and large enough data with clear internal structure for future prediction. In addition, the external environment should be relatively steady, which means that there is no abruptly huge change which will have a pretty great influence on our current social life, such as the financial crisis sweeping the world, large-scale natural disasters, the new virus which is highly contagious, and so forth.
However, there are still potential constraints during the process. The information asymmetry among the increasing number of agents is a challenge. Even though hiring 40% more agents can be effective for expansion, it also increases difficulty for setting up the well-designed database systems owing to the enormous data and various sources. That is to say, it will be more challenging to identify the primary key (PK) and foreign key (FK) of each entity within the database system, which contain unique data value respectively and maintain connection with each other. What’s more, how to avoid associated duplication of the consistency between agents and their properties is also a problem.
Owing to the hiring of various agents on a large scale, the company needs to clearly organize the property scope managed by each agent in order to achieve efficient association in the database. Besides, even though setting up a relatively mature database system can improve the efficiency for prediction of home value compared with comparative market analysis (CMA), which is a traditional way for estimation in the real estate industry, it is still challenging to estimate automatically because of the rapidly changing environment as well as under special situation for the epidemic. Based on database systems, the quality of a prediction is dependent on the data it relies on.
The greatest source of information about home value in real estate is generated mainly from MLS and tax records, which people can look for suitable houses as well as proper various agents by searching for the information recorded, such as locations, history, community safety, prices, conditions and so forth. And the pricing of each house depending on these factors is relatively subjective because of various standards. Therefore, it is somewhat difficult for databases to make automatic estimation combining this information for analysis to boost efficiency.
In addition, the movement of people between and within countries has always been an important factor in real estate and the economy. Today, the world’s economies and people face unprecedented mobility challenges because of the pandemic, which will further limit the expansion of the operations of real estate companies to a certain extent.
Major Deliverable, due dates, and acceptance criteria
Dividing the large project into small pieces can help the project stay on track. Our group sets up three milestones for the project to track the key events and updates as the project progresses. The timefrace (Appendix 1) gives stakeholders a better idea of our progress.
In the first stage of the project is conceptual design. The team needs to identify the main entities in the business operation line and determine the relationship between each entity. We need to identify the primary keys and foregin keys to differentiate the attributes, and normalize the entities to finalize the ER diagram.
Then we can transfer the ER diagrams into relations model. Once the ER model is verified, we need a DBMS software to allow the information system smooth operation. In the selection process, we need to conduct the research regarding the cost and future maintenance to report to stakeholders. The model takes two week to design because we need to meet with different stakeholders who will involved in using the system and get approved by them. It is important to understand their information needs, different users, and the information constitutions (Coronel, 2019).
The success criteria is that the model can satisfy all business needs and the relationships follows business rules, and find the software which is compatible, most cost-efficient product for the project. We estimate it should takes two weeks and the deadline is March 10th.
The next stage is logical design. The team needs to map the conceptual model to relational model and validate the logical model. The acceptance criteria include validating logical model definitions against all end-user data. The design should take two weeks, which is March 25th.
Finally is the physical design. The group needs to define the data storage organization and integrity and security measures. Also determine the performance measurements(Coronel, 2019). Once the last stage is completed we can implement the final product to the company and test if it meets all requirements. The acceptance criteria is to meet end-user requirements, which takes 3 weeks and is due April 15th. Since the maintenance is important for the DBMS, we are going to provide more assistants after the system is implemented.
Logical Model
Relational Model
Assumptions about Business Rules
- Employee_Client: Each client must serve at least one employee from the brokerage, and the agent might co-broker with each other to serve the same client at the same time. But not every agent is mandatory to have the client. Clients can be potential clients who have not started business with the company. We do not have much information. Therefore, only the client’s first name and id is mandatory in the client entity.
- Estate_Transaciton: The client might use multiple transactions to make the purchase or rent a property, so the one property can have multiple transactions.
- Transaction_Payment: Each payment is mandatory belongs to a transaction, and each transaction must have at least one payment. This part is mandatory based on every existing purchase meaning since each successfully traded property must correspond to a transaction record; If the real estate does not have corresponding transaction records, then the transaction data related to them will not exist either.
- Employee_Listing: Not every employee is mandatory to have a listing, but listing is mandatory to at least one agent.
- Lisitng_Cost: The agents need to advertise the properties to sell/ rent out the property, which might generate a cost or more cost, but it is not mandatory. If there is a cost generated, it must according to one listing.
- Employee_Account: Each agent has to have an account and each account belongs to one agent. This part is mandatory since every employee should have an account to receive a commission.
- Account_Commission: The account can receive many commissions, but the new agent might not close any deal yet, so it is not mandatory. But each commission has to belong to an account. Plus, in this part, the system will record related information about the commission, like the date and the amount of this commission.
8. Contact_client: The system can also help agents to keep track of their leads. One agent can have multiple contacts, but even if the same client can be reached out by different agents
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. GET THIS PROJECT NOW BY CLICKING ON THIS LINK TO PLACE THE ORDER
CLICK ON THE LINK HERE: https://www.perfectacademic.com/orders/ordernow
Also, you can place the order at www.collegepaper.us/orders/ordernow / www.phdwriters.us/orders/ordernow
Do You Have Any Other Essay/Assignment/Class Project/Homework Related to this? Click Here Now [CLICK ME]and Have It Done by Our PhD Qualified Writers!!