diff --git a/src/App.tsx b/src/App.tsx
index fe53ef2..e453573 100644
--- a/src/App.tsx
+++ b/src/App.tsx
@@ -32,6 +32,7 @@ const Results = lazy(() => import('./pages/demand/Results'))
 const MatchDetail = lazy(() => import('./pages/demand/MatchDetail'))
 const Compare = lazy(() => import('./pages/demand/Compare'))
 const Shortlists = lazy(() => import('./pages/demand/Shortlists'))
+const Pipeline = lazy(() => import('./pages/demand/Pipeline'))
 
 const ReviewQueue = lazy(() => import('./pages/ops/ReviewQueue'))
 const AIMonitoring = lazy(() => import('./pages/ops/AIMonitoring'))
@@ -71,6 +72,7 @@ function App() {
                 <Route path="/demand/results/:matchId" element={<MatchDetail />} />
                 <Route path="/demand/compare" element={<Compare />} />
                 <Route path="/demand/shortlists" element={<Shortlists />} />
+                <Route path="/demand/pipeline" element={<Pipeline />} />
               </Route>
 
               {/* Operations Workspace */}
diff --git a/src/components/anfragencenter/OfferPdfReviewStep.tsx b/src/components/anfragencenter/OfferPdfReviewStep.tsx
index 1a45c84..efc833d 100644
--- a/src/components/anfragencenter/OfferPdfReviewStep.tsx
+++ b/src/components/anfragencenter/OfferPdfReviewStep.tsx
@@ -1,9 +1,8 @@
 import { useEffect, useMemo, useState } from 'react'
 import { Box, Button, CircularProgress, Typography } from '@mui/material'
-import { ArrowLeft, ArrowRight } from 'lucide-react'
+import { ArrowLeft, Send } from 'lucide-react'
 import { useOfferWizardStore } from '../../stores/offerWizardStore'
-import { offerService } from '../../services/offerService'
-import { useUpdateOfferField, useGeneratePdfPreview } from '../../hooks/useOffers'
+import { useUpdateOfferField, useGeneratePdfPreview, useMarkOfferChecked } from '../../hooks/useOffers'
 import { useToastStore } from '../../stores/toastStore'
 import { MockPdfPreview } from './MockPdfPreview'
 import { EditableOfferFieldList } from './EditableOfferFieldList'
@@ -22,6 +21,7 @@ export function OfferPdfReviewStep() {
 
   const updateFieldMut = useUpdateOfferField()
   const genPreview = useGeneratePdfPreview()
+  const markChecked = useMarkOfferChecked()
   const showToast = useToastStore(s => s.showToast)
 
   useEffect(() => {
@@ -66,13 +66,34 @@ export function OfferPdfReviewStep() {
     }
   }
 
-  const handleNext = () => {
+  const needTitle = useOfferWizardStore(s => s.needTitle)
+  const addAttachment = useOfferWizardStore(s => s.addAttachment)
+  const setMessageDraft = useOfferWizardStore(s => s.setMessageDraft)
+  const setMessageSubject = useOfferWizardStore(s => s.setMessageSubject)
+
+  const handleNext = async () => {
     if (!offerDraftId) return
     if (!pdfReady) {
       showToast('PDF-Vorschau wird noch generiert...', 'info')
       return
     }
-    setStep('checked')
+    const res = await markChecked.mutateAsync(offerDraftId)
+    if (res.error) {
+      showToast(`Fehler: ${res.error}`, 'error')
+      return
+    }
+    addAttachment({
+      id: crypto.randomUUID(),
+      fileName: `Angebot_${needTitle.replace(/\s+/g, '_')}.pdf`,
+      fileType: 'application/pdf',
+      fileSize: 320_000,
+      generated: true,
+    })
+    setMessageSubject(`Passende Gewerbeflächen zu Ihrer Anfrage: ${needTitle}`)
+    setMessageDraft(
+      `Sehr geehrte Damen und Herren,\n\nbitte finden Sie anbei unser Angebot zu Ihrem Bedarf "${needTitle}". Gerne stehen wir für Rückfragen und Besichtigungstermine zur Verfügung.\n\nFreundliche Grüsse\nWincasa AG`,
+    )
+    setStep('send')
   }
 
   if (loadingDraft || !draft) {
@@ -153,12 +174,12 @@ export function OfferPdfReviewStep() {
         </Button>
         <Button
           variant="contained"
-          endIcon={<ArrowRight size={14} />}
+          endIcon={markChecked.isPending ? <CircularProgress size={14} sx={{ color: 'white' }} /> : <Send size={14} />}
           onClick={handleNext}
-          disabled={!pdfReady}
+          disabled={!pdfReady || markChecked.isPending}
           sx={{ textTransform: 'none', bgcolor: '#1e3a5f', '&:hover': { bgcolor: '#16304d' } }}
         >
-          Angebot prüfen
+          {markChecked.isPending ? 'Wird geprüft…' : 'Angebot senden →'}
         </Button>
       </Box>
     </Box>
diff --git a/src/components/anfragencenter/OfferWizard.tsx b/src/components/anfragencenter/OfferWizard.tsx
index 93abe37..846852d 100644
--- a/src/components/anfragencenter/OfferWizard.tsx
+++ b/src/components/anfragencenter/OfferWizard.tsx
@@ -16,13 +16,20 @@ import { OfferPdfReviewStep } from './OfferPdfReviewStep'
 import { OfferCheckedAction } from './OfferCheckedAction'
 import { OfferChatComposer } from './OfferChatComposer'
 
+// 'checked' is internal — merged into pdf_review step; only 3 steps shown
 const STEPS: { key: OfferStep; label: string }[] = [
   { key: 'select_properties', label: 'Objekte wählen' },
-  { key: 'pdf_review', label: 'PDF-Vorschau' },
-  { key: 'checked', label: 'Prüfen' },
-  { key: 'send', label: 'Senden' },
+  { key: 'pdf_review',        label: 'Vorschau & Prüfen' },
+  { key: 'send',              label: 'Senden' },
 ]
 
+const STEP_DISPLAY_INDEX: Record<OfferStep, number> = {
+  select_properties: 0,
+  pdf_review: 1,
+  checked: 1, // same visual step as pdf_review
+  send: 2,
+}
+
 export function OfferWizard() {
   const theme = useTheme()
   const fullScreen = useMediaQuery(theme.breakpoints.down('md'))
@@ -32,7 +39,7 @@ export function OfferWizard() {
   const currentStep = useOfferWizardStore(s => s.currentStep)
   const needTitle = useOfferWizardStore(s => s.needTitle)
 
-  const activeIndex = STEPS.findIndex(s => s.key === currentStep)
+  const activeIndex = STEP_DISPLAY_INDEX[currentStep] ?? 0
 
   return (
     <Dialog
diff --git a/src/components/demand/NeedInput.tsx b/src/components/demand/NeedInput.tsx
index 07fe2a7..a55ee3b 100644
--- a/src/components/demand/NeedInput.tsx
+++ b/src/components/demand/NeedInput.tsx
@@ -17,6 +17,22 @@ const ASSET_OPTIONS = [
   { label: 'Gemischt', value: AssetType.MIXED },
 ]
 
+const AREA_PRESETS = [
+  { label: '200–500 m²', min: 200, max: 500 },
+  { label: '500–1000 m²', min: 500, max: 1000 },
+  { label: '1000–2000 m²', min: 1000, max: 2000 },
+  { label: '2000–5000 m²', min: 2000, max: 5000 },
+]
+
+const BUDGET_PRESETS = [
+  { label: '25 CHF/m²', value: 25 },
+  { label: '45 CHF/m²', value: 45 },
+  { label: '65 CHF/m²', value: 65 },
+  { label: '100 CHF/m²', value: 100 },
+]
+
+const LOCATION_PRESETS = ['Zürich', 'Zürich-West', 'Zürich-Nord', 'Bern', 'Basel', 'Luzern']
+
 function FieldLabel({ children }: { children: React.ReactNode }) {
   return (
     <Typography variant="caption" color="text.secondary" sx={{ fontWeight: 600, display: 'block', mb: 0.75 }}>
@@ -70,7 +86,7 @@ export function NeedInput({ criteria: c, onCriteriaChange: set }: Props) {
 
       {/* Area */}
       <FieldLabel>Fläche (m²)</FieldLabel>
-      <Box sx={{ display: 'flex', alignItems: 'center', gap: 1, mb: 2.5 }}>
+      <Box sx={{ display: 'flex', alignItems: 'center', gap: 1, mb: 0.75 }}>
         <TextField
           size="small" type="number" placeholder="Min"
           value={c.areaRange?.min || ''}
@@ -88,35 +104,87 @@ export function NeedInput({ criteria: c, onCriteriaChange: set }: Props) {
         />
         <Typography variant="caption" color="text.secondary">m²</Typography>
       </Box>
+      <Stack direction="row" spacing={0.5} sx={{ flexWrap: 'wrap', gap: 0.5, mb: 2.5 }}>
+        {AREA_PRESETS.map(p => (
+          <Chip
+            key={p.label}
+            label={p.label}
+            size="small"
+            variant="outlined"
+            clickable
+            onClick={() => set({ ...c, areaRange: { min: p.min, max: p.max } })}
+            sx={{ fontSize: '0.68rem', height: 20, color: '#64748b', borderColor: '#cbd5e1' }}
+          />
+        ))}
+      </Stack>
 
       {/* Location */}
       <FieldLabel>Standort</FieldLabel>
+      <Stack direction="row" spacing={0.5} sx={{ flexWrap: 'wrap', gap: 0.5, mb: 0.75 }}>
+        {LOCATION_PRESETS.map(loc => (
+          <Chip
+            key={loc}
+            label={loc}
+            size="small"
+            variant={c.preferredLocations?.includes(loc) ? 'filled' : 'outlined'}
+            clickable
+            onClick={() => {
+              const already = c.preferredLocations?.includes(loc)
+              set({ ...c, preferredLocations: already
+                ? (c.preferredLocations ?? []).filter(l => l !== loc)
+                : [...new Set([...(c.preferredLocations ?? []), loc])]
+              })
+            }}
+            sx={c.preferredLocations?.includes(loc)
+              ? { fontSize: '0.68rem', height: 22, bgcolor: '#1e3a5f', color: 'white' }
+              : { fontSize: '0.68rem', height: 22, color: '#64748b', borderColor: '#cbd5e1' }
+            }
+          />
+        ))}
+      </Stack>
       <TextField
         size="small" fullWidth
-        placeholder="Stadt oder Region — Enter zum Hinzufügen"
+        placeholder="Weitere Stadt oder Region — Enter zum Hinzufügen"
         value={locationDraft}
         onChange={e => setLocationDraft(e.target.value)}
         onKeyDown={e => { if (e.key === 'Enter' && locationDraft.trim()) addLocations(locationDraft) }}
         onBlur={() => { if (locationDraft.trim()) addLocations(locationDraft) }}
         sx={{ mb: 0.75 }}
       />
-      {(c.preferredLocations?.length ?? 0) > 0 ? (
+      {(c.preferredLocations?.filter(l => !LOCATION_PRESETS.includes(l)).length ?? 0) > 0 && (
         <Stack direction="row" spacing={0.5} sx={{ flexWrap: 'wrap', gap: 0.5, mb: 2.5 }}>
-          {c.preferredLocations!.map(loc => (
+          {c.preferredLocations!.filter(l => !LOCATION_PRESETS.includes(l)).map(loc => (
             <Chip key={loc} label={loc} size="small"
               onDelete={() => set({ ...c, preferredLocations: c.preferredLocations!.filter(l => l !== loc) })}
             />
           ))}
         </Stack>
-      ) : <Box sx={{ mb: 2.5 }} />}
+      )}
+      <Box sx={{ mb: (c.preferredLocations?.filter(l => !LOCATION_PRESETS.includes(l)).length ?? 0) > 0 ? 0 : 2.5 }} />
 
       {/* Budget */}
       <FieldLabel>Budget (max CHF/m²)</FieldLabel>
+      <Stack direction="row" spacing={0.5} sx={{ flexWrap: 'wrap', gap: 0.5, mb: 0.75 }}>
+        {BUDGET_PRESETS.map(p => (
+          <Chip
+            key={p.label}
+            label={p.label}
+            size="small"
+            variant={c.budgetRange?.maxPerSqm === p.value ? 'filled' : 'outlined'}
+            clickable
+            onClick={() => set({ ...c, budgetRange: { maxPerSqm: p.value, currency: 'CHF' } })}
+            sx={c.budgetRange?.maxPerSqm === p.value
+              ? { fontSize: '0.68rem', height: 22, bgcolor: '#1e3a5f', color: 'white' }
+              : { fontSize: '0.68rem', height: 22, color: '#64748b', borderColor: '#cbd5e1' }
+            }
+          />
+        ))}
+      </Stack>
       <TextField
-        size="small" type="number" placeholder="z.B. 45"
+        size="small" type="number" placeholder="oder eigener Wert"
         value={c.budgetRange?.maxPerSqm || ''}
         onChange={e => set({ ...c, budgetRange: { maxPerSqm: parseInt(e.target.value) || 0, currency: 'CHF' } })}
-        sx={{ width: 160, mb: 2.5 }}
+        sx={{ width: 180, mb: 2.5 }}
         slotProps={{ htmlInput: { min: 0 } }}
       />
 
diff --git a/src/components/layout/AppShell.tsx b/src/components/layout/AppShell.tsx
index 1741e93..3c621f4 100644
--- a/src/components/layout/AppShell.tsx
+++ b/src/components/layout/AppShell.tsx
@@ -1,5 +1,6 @@
 import { useEffect, useState } from 'react'
 import { Outlet, NavLink, useNavigate, useLocation } from 'react-router'
+import { WelcomeDialog } from '../onboarding/WelcomeDialog'
 import { useLayoutStore } from '../../stores/layoutStore'
 import { useSessionStore } from '../../stores/sessionStore'
 import { WorkspaceType } from '../../domain/enums'
@@ -37,6 +38,7 @@ import {
   GitBranch,
   MessageSquare,
   Menu,
+  Kanban,
 } from 'lucide-react'
 import type { LucideIcon } from 'lucide-react'
 import { OrganizationContextBadge } from './OrganizationContextBadge'
@@ -97,6 +99,7 @@ const WORKSPACE_CONFIG: Record<WorkspaceType, WorkspaceConfig> = {
       { path: '/demand/results', label: 'Ergebnisse', icon: List },
       { path: '/demand/compare', label: 'Vergleich', icon: Columns2 },
       { path: '/demand/shortlists', label: 'Shortlists', icon: Bookmark },
+      { path: '/demand/pipeline', label: 'Deal Pipeline', icon: Kanban },
     ],
   },
   [WorkspaceType.OPERATIONS]: {
@@ -598,6 +601,7 @@ export function AppShell() {
       <GlobalAIAssistantDrawer />
       <GlobalAIAssistantButton />
       <ToastProvider />
+      <WelcomeDialog />
     </Box>
   )
 }
diff --git a/src/components/onboarding/WelcomeDialog.tsx b/src/components/onboarding/WelcomeDialog.tsx
new file mode 100644
index 0000000..6d083a4
--- /dev/null
+++ b/src/components/onboarding/WelcomeDialog.tsx
@@ -0,0 +1,188 @@
+import { useState } from 'react'
+import {
+  Dialog,
+  DialogContent,
+  Box,
+  Typography,
+  MobileStepper,
+  Button,
+} from '@mui/material'
+import {
+  Building2,
+  CheckCircle2,
+  Zap,
+  Search,
+  Mic,
+  Sparkles,
+  Newspaper,
+  FileCheck,
+  ArrowLeft,
+  ArrowRight,
+} from 'lucide-react'
+
+function FeatureRow({
+  icon,
+  color,
+  text,
+}: {
+  icon: React.ReactNode
+  color: string
+  text: string
+}) {
+  return (
+    <Box className="flex items-center gap-2 mt-2">
+      <Box sx={{ color, flexShrink: 0 }}>{icon}</Box>
+      <Typography variant="body2">{text}</Typography>
+    </Box>
+  )
+}
+
+function Slide0() {
+  return (
+    <Box className="flex flex-col items-center text-center px-2">
+      <Box className="mb-4">
+        <Building2 size={48} color="#1e3a5f" />
+      </Box>
+      <Typography variant="h5" sx={{ fontWeight: 700, mb: 1 }}>
+        Willkommen bei Property Match
+      </Typography>
+      <Typography variant="body1" color="text.secondary" sx={{ mb: 3 }}>
+        Die KI-gestützte Plattform für gewerbliche Immobilien
+      </Typography>
+      <Box className="w-full text-left">
+        <FeatureRow
+          icon={<CheckCircle2 size={18} />}
+          color="#1a7a4a"
+          text="Verifizierte Portfolio-Objekte"
+        />
+        <FeatureRow
+          icon={<CheckCircle2 size={18} />}
+          color="#1a7a4a"
+          text="Externer Markt & Inserate"
+        />
+        <FeatureRow
+          icon={<Zap size={18} />}
+          color="#7c3aed"
+          text="Schattenmarkt-Signale der KI"
+        />
+      </Box>
+    </Box>
+  )
+}
+
+function Slide1() {
+  return (
+    <Box className="flex flex-col items-center text-center px-2">
+      <Box className="mb-4">
+        <Search size={48} color="#1e3a5f" />
+      </Box>
+      <Typography variant="h5" sx={{ fontWeight: 700, mb: 1 }}>
+        Bedarf beschreiben — KI findet Matches
+      </Typography>
+      <Typography variant="body1" color="text.secondary" sx={{ mb: 3 }}>
+        Schreiben Sie Ihren Flächenbedarf in natürlicher Sprache. Die KI extrahiert alle Kriterien
+        und findet die besten Matches aus Portfolio, Markt und Schattenmarkt.
+      </Typography>
+      <Box className="w-full text-left">
+        <FeatureRow
+          icon={<Mic size={18} />}
+          color="#d97706"
+          text="Spracheingabe auf Deutsch"
+        />
+        <FeatureRow
+          icon={<Sparkles size={18} />}
+          color="#7c3aed"
+          text="KI analysiert und gewichtet automatisch"
+        />
+      </Box>
+    </Box>
+  )
+}
+
+function Slide2() {
+  return (
+    <Box className="flex flex-col items-center text-center px-2">
+      <Box className="mb-4">
+        <Zap size={48} color="#7c3aed" />
+      </Box>
+      <Typography variant="h5" sx={{ fontWeight: 700, mb: 1 }}>
+        Schattenmarkt — Vor dem Markt informiert
+      </Typography>
+      <Typography variant="body1" color="text.secondary" sx={{ mb: 3 }}>
+        Die KI überwacht Stelleninserate, Pressemeldungen und Baubewilligungen — frühzeitige
+        Hinweise auf mögliche Verfügbarkeiten, bevor sie ausgeschrieben werden.
+      </Typography>
+      <Box className="w-full text-left">
+        <FeatureRow
+          icon={<Newspaper size={18} />}
+          color="#d97706"
+          text="Presse & Stelleninserate"
+        />
+        <FeatureRow
+          icon={<FileCheck size={18} />}
+          color="#1a7a4a"
+          text="Baubewilligungen & Berichte"
+        />
+      </Box>
+    </Box>
+  )
+}
+
+const SLIDES = [<Slide0 />, <Slide1 />, <Slide2 />]
+
+export function WelcomeDialog() {
+  const [open, setOpen] = useState(() => {
+    return localStorage.getItem('property_match_welcomed') === null
+  })
+  const [activeStep, setActiveStep] = useState(0)
+
+  function dismiss() {
+    localStorage.setItem('property_match_welcomed', '1')
+    setOpen(false)
+  }
+
+  return (
+    <Dialog
+      open={open}
+      maxWidth="sm"
+      fullWidth
+      disableEscapeKeyDown
+    >
+      <DialogContent sx={{ pt: 4, pb: 2 }}>
+        {SLIDES[activeStep]}
+        <MobileStepper
+          variant="dots"
+          steps={3}
+          position="static"
+          activeStep={activeStep}
+          sx={{ mt: 3, background: 'transparent' }}
+          backButton={
+            <Button
+              size="small"
+              onClick={() => setActiveStep((s) => s - 1)}
+              disabled={activeStep === 0}
+              startIcon={<ArrowLeft size={16} />}
+            >
+              Zurück
+            </Button>
+          }
+          nextButton={
+            activeStep === 2 ? (
+              <Button size="small" variant="contained" onClick={dismiss}>
+                Los geht's
+              </Button>
+            ) : (
+              <Button
+                size="small"
+                onClick={() => setActiveStep((s) => s + 1)}
+                endIcon={<ArrowRight size={16} />}
+              >
+                Weiter
+              </Button>
+            )
+          }
+        />
+      </DialogContent>
+    </Dialog>
+  )
+}
diff --git a/src/domain/pipeline.ts b/src/domain/pipeline.ts
new file mode 100644
index 0000000..307f60b
--- /dev/null
+++ b/src/domain/pipeline.ts
@@ -0,0 +1,17 @@
+export type PipelineStage = 'DISCOVERED' | 'QUALIFIED' | 'VISITED' | 'NEGOTIATION' | 'CLOSED_WON' | 'CLOSED_LOST'
+
+export interface PipelineItem {
+  id: string
+  title: string
+  location: string
+  matchScore: number
+  resultType: 'VERIFIED_PORTFOLIO' | 'EXTERNAL_MARKET' | 'FUTURE_AVAILABILITY'
+  stage: PipelineStage
+  areaLabel?: string
+  rentLabel?: string
+  availabilityLabel?: string
+  addedAt: string
+  updatedAt: string
+  notes?: string
+  assignedTo?: string
+}
diff --git a/src/mock-data/pipelineItems.ts b/src/mock-data/pipelineItems.ts
new file mode 100644
index 0000000..e583016
--- /dev/null
+++ b/src/mock-data/pipelineItems.ts
@@ -0,0 +1,12 @@
+import type { PipelineItem } from '../domain/pipeline'
+
+export const mockPipelineItems: PipelineItem[] = [
+  { id: 'pl-001', title: 'Bürofläche Zollstrasse 12', location: 'Zürich, Zürich-West', matchScore: 91, resultType: 'VERIFIED_PORTFOLIO', stage: 'NEGOTIATION', areaLabel: '850 m²', rentLabel: 'CHF 42/m²', availabilityLabel: '2025-09-01', addedAt: '2025-05-01T10:00:00Z', updatedAt: '2025-05-15T14:00:00Z', assignedTo: 'B. Sutter' },
+  { id: 'pl-002', title: 'Gewerbe Hardturmstrasse', location: 'Zürich-West', matchScore: 87, resultType: 'VERIFIED_PORTFOLIO', stage: 'VISITED', areaLabel: '1200 m²', rentLabel: 'CHF 38/m²', availabilityLabel: '2025-10-01', addedAt: '2025-05-03T10:00:00Z', updatedAt: '2025-05-14T09:00:00Z' },
+  { id: 'pl-003', title: 'Büro Binzstrasse 23', location: 'Zürich, Binz', matchScore: 83, resultType: 'EXTERNAL_MARKET', stage: 'VISITED', areaLabel: '720 m²', rentLabel: 'CHF 47/m²', addedAt: '2025-05-04T10:00:00Z', updatedAt: '2025-05-13T10:00:00Z' },
+  { id: 'pl-004', title: 'Bürofläche Bahnhofstrasse', location: 'Zürich, Innenstadt', matchScore: 79, resultType: 'EXTERNAL_MARKET', stage: 'QUALIFIED', areaLabel: '950 m²', rentLabel: 'CHF 85/m²', addedAt: '2025-05-05T10:00:00Z', updatedAt: '2025-05-12T10:00:00Z', notes: 'Budget zu hoch — prüfen' },
+  { id: 'pl-005', title: 'DataCloud Systems AG', location: 'Zürich-West / Technopark', matchScore: 76, resultType: 'FUTURE_AVAILABILITY', stage: 'QUALIFIED', areaLabel: '~600 m²', availabilityLabel: '~10 Monate', addedAt: '2025-05-06T10:00:00Z', updatedAt: '2025-05-11T10:00:00Z' },
+  { id: 'pl-006', title: 'Neubau Wankdorf Business', location: 'Bern, Wankdorf', matchScore: 72, resultType: 'FUTURE_AVAILABILITY', stage: 'DISCOVERED', areaLabel: '~4500 m²', availabilityLabel: '~24 Monate', addedAt: '2025-05-07T10:00:00Z', updatedAt: '2025-05-10T10:00:00Z' },
+  { id: 'pl-007', title: 'Bürofläche Stadthaus Bern', location: 'Bern Innenstadt', matchScore: 88, resultType: 'VERIFIED_PORTFOLIO', stage: 'CLOSED_WON', areaLabel: '650 m²', rentLabel: 'CHF 52/m²', availabilityLabel: '2025-07-01', addedAt: '2025-04-10T10:00:00Z', updatedAt: '2025-05-08T10:00:00Z', assignedTo: 'B. Sutter', notes: 'Vertrag unterschrieben' },
+  { id: 'pl-008', title: 'Gewerbe Güterstrasse', location: 'Basel', matchScore: 68, resultType: 'EXTERNAL_MARKET', stage: 'CLOSED_LOST', areaLabel: '800 m²', rentLabel: 'CHF 28/m²', addedAt: '2025-04-15T10:00:00Z', updatedAt: '2025-05-05T10:00:00Z', notes: 'Vermieter hat anderes Unternehmen bevorzugt' },
+]
diff --git a/src/pages/demand/Pipeline.tsx b/src/pages/demand/Pipeline.tsx
new file mode 100644
index 0000000..e01503f
--- /dev/null
+++ b/src/pages/demand/Pipeline.tsx
@@ -0,0 +1,243 @@
+import { useState } from 'react'
+import { Box, Typography, Chip, Paper, Button } from '@mui/material'
+import type { PipelineItem, PipelineStage } from '../../domain/pipeline'
+import { mockPipelineItems } from '../../mock-data/pipelineItems'
+
+const STAGES = [
+  { key: 'DISCOVERED' as PipelineStage,  label: 'Entdeckt',     color: '#475569', bgColor: '#f8fafc' },
+  { key: 'QUALIFIED' as PipelineStage,   label: 'Qualifiziert',  color: '#1e3a5f', bgColor: '#eff6ff' },
+  { key: 'VISITED' as PipelineStage,     label: 'Besichtigt',    color: '#d97706', bgColor: '#fffbeb' },
+  { key: 'NEGOTIATION' as PipelineStage, label: 'Verhandlung',   color: '#7c3aed', bgColor: '#faf5ff' },
+  { key: 'CLOSED_WON' as PipelineStage,  label: 'Gewonnen',      color: '#1a7a4a', bgColor: '#f0fdf4' },
+  { key: 'CLOSED_LOST' as PipelineStage, label: 'Abgelehnt',     color: '#c0392b', bgColor: '#fef2f2' },
+] as const
+
+const NEXT_STAGE_LABEL: Partial<Record<PipelineStage, string>> = {
+  DISCOVERED: 'Qualifizieren →',
+  QUALIFIED: 'Besichtigung planen →',
+  VISITED: 'Verhandlung →',
+  NEGOTIATION: 'Als gewonnen markieren →',
+}
+
+const RESULT_TYPE_LABEL: Record<PipelineItem['resultType'], string> = {
+  VERIFIED_PORTFOLIO: 'Portfolio',
+  EXTERNAL_MARKET: 'Markt',
+  FUTURE_AVAILABILITY: 'Schattenmarkt',
+}
+
+const RESULT_TYPE_COLOR: Record<PipelineItem['resultType'], string> = {
+  VERIFIED_PORTFOLIO: '#1e3a5f',
+  EXTERNAL_MARKET: '#d97706',
+  FUTURE_AVAILABILITY: '#7c3aed',
+}
+
+function scoreColor(score: number): string {
+  if (score >= 80) return '#1a7a4a'
+  if (score >= 65) return '#d97706'
+  return '#c0392b'
+}
+
+function PipelineCard({
+  item,
+  onAdvance,
+}: {
+  item: PipelineItem
+  onAdvance: (id: string) => void
+}) {
+  const stageConfig = STAGES.find((s) => s.key === item.stage)!
+  const showAdvance = item.stage !== 'CLOSED_WON' && item.stage !== 'CLOSED_LOST'
+
+  return (
+    <Paper
+      elevation={0}
+      sx={{
+        p: 1.5,
+        borderRadius: 1.5,
+        border: '1px solid #e2e8f0',
+        cursor: 'default',
+        bgcolor: 'white',
+      }}
+    >
+      <Box sx={{ display: 'flex', justifyContent: 'space-between', alignItems: 'flex-start', gap: 1 }}>
+        <Typography
+          variant="body2"
+          sx={{ fontWeight: 700, flex: 1, minWidth: 0 }}
+          noWrap
+        >
+          {item.title}
+        </Typography>
+        <Typography
+          sx={{ fontWeight: 900, fontSize: '1rem', color: scoreColor(item.matchScore), flexShrink: 0 }}
+        >
+          {item.matchScore}%
+        </Typography>
+      </Box>
+
+      <Typography variant="caption" color="text.secondary">
+        {item.location}
+      </Typography>
+
+      <Box>
+        <Chip
+          size="small"
+          label={RESULT_TYPE_LABEL[item.resultType]}
+          sx={{
+            bgcolor: RESULT_TYPE_COLOR[item.resultType],
+            color: 'white',
+            fontSize: 10,
+            height: 18,
+            mt: 0.5,
+          }}
+        />
+      </Box>
+
+      {(item.areaLabel || item.rentLabel) && (
+        <Box sx={{ display: 'flex', gap: 1, mt: 0.5 }}>
+          {item.areaLabel && (
+            <Typography variant="caption" sx={{ color: '#475569' }}>
+              {item.areaLabel}
+            </Typography>
+          )}
+          {item.rentLabel && (
+            <Typography variant="caption" sx={{ color: '#475569' }}>
+              {item.rentLabel}
+            </Typography>
+          )}
+        </Box>
+      )}
+
+      {item.notes && (
+        <Typography
+          variant="caption"
+          sx={{ fontStyle: 'italic', color: 'text.secondary', mt: 0.5, display: 'block' }}
+        >
+          {item.notes}
+        </Typography>
+      )}
+
+      {showAdvance && (
+        <Button
+          size="small"
+          variant="text"
+          onClick={() => onAdvance(item.id)}
+          sx={{
+            color: stageConfig.color,
+            fontSize: '0.7rem',
+            p: 0,
+            mt: 0.75,
+            minWidth: 0,
+            textTransform: 'none',
+          }}
+        >
+          {NEXT_STAGE_LABEL[item.stage]}
+        </Button>
+      )}
+    </Paper>
+  )
+}
+
+export default function Pipeline() {
+  const [items, setItems] = useState<PipelineItem[]>(mockPipelineItems)
+
+  const activeCount = items.filter(
+    (i) => i.stage !== 'CLOSED_WON' && i.stage !== 'CLOSED_LOST'
+  ).length
+
+  function handleAdvance(id: string) {
+    setItems((prev) =>
+      prev.map((item) => {
+        if (item.id !== id) return item
+        const idx = STAGES.findIndex((s) => s.key === item.stage)
+        if (idx === -1 || idx >= STAGES.length - 1) return item
+        return { ...item, stage: STAGES[idx + 1].key }
+      })
+    )
+  }
+
+  return (
+    <Box sx={{ display: 'flex', flexDirection: 'column', height: '100%' }}>
+      <Box
+        sx={{
+          bgcolor: 'white',
+          borderBottom: '1px solid #e2e8f0',
+          px: 3,
+          py: 2,
+          display: 'flex',
+          justifyContent: 'space-between',
+          alignItems: 'center',
+          flexShrink: 0,
+          position: 'sticky',
+          top: 0,
+          zIndex: 1,
+        }}
+      >
+        <Box>
+          <Typography variant="h5" sx={{ fontWeight: 700 }}>
+            Deal Pipeline
+          </Typography>
+          <Typography variant="body2" color="text.secondary">
+            Verfolgen Sie Objekte von der Entdeckung bis zum Abschluss
+          </Typography>
+        </Box>
+        <Chip label={`${activeCount} aktiv`} size="small" />
+      </Box>
+
+      <Box
+        sx={{
+          display: 'flex',
+          gap: 2,
+          px: 3,
+          py: 2,
+          overflowX: 'auto',
+          flex: 1,
+          alignItems: 'flex-start',
+        }}
+      >
+        {STAGES.map((stage) => {
+          const columnItems = items.filter((i) => i.stage === stage.key)
+          return (
+            <Box
+              key={stage.key}
+              sx={{
+                minWidth: 240,
+                maxWidth: 280,
+                flexShrink: 0,
+                display: 'flex',
+                flexDirection: 'column',
+              }}
+            >
+              <Box
+                sx={{
+                  py: 1,
+                  display: 'flex',
+                  alignItems: 'center',
+                  gap: 1,
+                }}
+              >
+                <Typography sx={{ fontWeight: 700, color: stage.color }}>
+                  {stage.label}
+                </Typography>
+                <Chip
+                  label={columnItems.length}
+                  size="small"
+                  sx={{
+                    bgcolor: stage.bgColor,
+                    color: stage.color,
+                    border: `1px solid ${stage.color}30`,
+                    fontWeight: 600,
+                  }}
+                />
+              </Box>
+
+              <Box sx={{ display: 'flex', flexDirection: 'column', gap: 1, overflowY: 'auto' }}>
+                {columnItems.map((item) => (
+                  <PipelineCard key={item.id} item={item} onAdvance={handleAdvance} />
+                ))}
+              </Box>
+            </Box>
+          )
+        })}
+      </Box>
+    </Box>
+  )
+}