Automated Valuation Model based on ML algorithm
AVMs in the real estate sector are algorithms (basically a combination of Machine Learning techniques) that are trained on large amounts of data such as transaction data and land property attribute in order to predict the values of properties.
AVM-
- Statistic-based computer programs.
- Use property information (e.g. transactions and property attributes etc.) to generate suggested value.
- Produces a market valuation through mathematical modelling.
- Variety of statistical and algorithmic approaches
- Analyzing the relationship between the price/value of a residential property and the property’s underlying attributes.
- Application of statistical methods and Mathematical Modelling such as multiple regression analysis (MRA)
Automated Valuation Model based on ML algorithm
AVMs in the real estate sector are algorithms (basically a combination of Machine Learning techniques) that are trained on large amounts of data such as transaction data and land property attribute in order to predict the values of properties.
AVM-
- Statistic-based computer programs.
- Use property information (e.g. transactions and property attributes etc.) to generate suggested value.
- Produces a market valuation through mathematical modelling.
- Variety of statistical and algorithmic approaches
- Analyzing the relationship between the price/value of a residential property and the property’s underlying attributes.
- Application of statistical methods and Mathematical Modelling such as multiple regression analysis (MRA)