Automated Valuation Models

Automated Valuation Models (AVMs) are computer-based tools that estimate the value of a property using algorithms and data, such as recent sales, property details, and market trends. They quickly provide an estimated property value without needing a traditional appraisal. AVMs are commonly used by real estate professionals, lenders, and online platforms for fast, cost-effective property evaluations. While they offer useful insights, their accuracy depends on data quality and market conditions, so they might be supplemented with a professional appraisal for critical decisions.