Automated Valuation Models: Increased Use Leaves Plenty of Work for Appraisers

Posted by: Joseph Dobrian Date: Feb 16, 2017 9:59:04 AM

Automated valuation models (AVMs) are services that incorporate data and mathematical modeling to provide real estate property valuations—usually providing a snapshot of a property’s momentary value, using comparables, much like an appraisal. However, appraisers who suspect that AVMs could render human appraisers irrelevant apparently don’t have much to worry about—yet.

On the one hand, an AVM report is that you can get it in a matter of seconds, and it will contain helpful information. On the other, it's never complete, and still leaves plenty of work for the appraiser.

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Topics: automated valuation models