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Sign into your accountWhere's the Real Value in Automated Valuation Models (AVMs)?
August 07 2017
A handful of organizations offer Automated Valuation Models (AVMs), yet not one is 100 percent accurate. The truth lies in the types of data that AVM providers use to generate the AVM.
The problem with AVMs
Although most AVMs are readily and publicly available to consumers, real estate agents, appraisers and lenders, they carry distinct disadvantages. First, without a physical inspection, AVMs do not factor in a property's condition and, thereby, rely on "average condition" scenarios when determining value.