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Accurate property valuation has been a perennial bugbear for all stakeholders throughout the value chain. Not anymore. Housing.com has taken a big leap by starting to rely on AI-based property valuations.
Yeah? What the Company is Doing?
💱 Tapping mathematical models and data for forecasting rental and sale prices.
💱 Working on AVM (automated valuation machine), tapping 50+ parameters including bathrooms, bedrooms, neighbourhood, balcony, windows, size, flooring, etc.
💱 Creating a smarter model through mapping prediction values to actual transaction values for more learning.
💱 Upgraded versions every three months.
💱 Pivoting to discovery-driven home search and buying platforms.
What AVM Essentially Means
✅ Software-based property valuation tool.
🔢 Statistical and mathematical modeling deployed with current databases for property valuation.
🌐 Success stories include Equifax and Freddie Mac among commercial players globally.
🎛 Even Zillow offers free AVM services. Zestimate anyone? It is actually an AVM.
📅 AVM is based on current and existing data, making the valuations only as smooth as available information.
⚠ Inaccuracy issues still exist though there are incoming solutions in store.
🤝 It is not just about valuing commercial and residential realty; underwriting support is also possible for loans with AVMs.
Housing.com has amplified a steadily growing global trend, i.e. AI-based property valuation with a quest to answer the perennial customer question - Is anything better out there?
With AVMs going mainstream in the future, no-regret realty purchases could soon be the norm.