HOUSINGNEWS REPORT
BEYOND WHAT’S YOUR HOME WORTH: THE 7 MOST INNOVATIVE AVM APPLICATIONS
Hill, a hot Seattle neighborhood. The owner would realize an additional $1 million in value that they would never know about by going to Zillow,” said CityBldr CEO Bryan Copley. “CityBldr tells the owner their property is most valuable to a developer – much more valuable. That’s life changing information that property owners should have before making the decision to sell.” Predictive analytics companies such as Audantic and Likely.AI leverage the AVM from ATTOM to predict inventory hitting the market in the near future. This provides high-quality leads for real estate agents, mortgage brokers and real estate investors. “In essence we score every U.S. property based on the likelihood of a sale in the near future, and once a property reaches a certain confidence threshold in our deep learning models, we say that is a valuable lead for real estate professionals,” said Likely.AI CEO Brad McDaniel. Audantic also scores properties, but specifically for the real estate investor audience, meaning its scoring is based on how likely a home is to sell at a discount below its “after-repair” property value. “A lot of investors have used intuition to determine how to do their marketing, and we’re able to apply predictive analytics to the data and get much higher results,” said Audantic CTO Franklin Sarkett, who 2. Are You Likely to Sell Soon (And at a Discount)?
“ATTOM Data Solutions has leveraged big data tools to develop an enterprise-grade property valuation model — the ATTOMIZED AVM — priced to be accessible not just to large, established corporations but also to smaller startups thinking outside the box.”
But times have changed. Increasingly complex AVMs using increasingly sophisticated big data tools such as machine learning and AI are improving the accuracy of automated property valuations — empowering a wide variety of businesses to build innovative products that are disrupting different niches of the real estate industry. ATTOM Data Solutions has leveraged big data tools to develop an enterprise-grade property valuation model — the ATTOMIZED AVM — priced to be accessible not just to large, established corporations but also to smaller startups thinking outside the box. The ATTOMIZED AVM is driving innovation in the real estate marketplace, and we get a front row seat to that innovation as the AVM provider.
Here are seven of the most innovative AVM applications we’ve seen that go far beyond just answering the question “What’s your home worth?”. 1. What Could Your Home Be Worth? In the world of property development, one of those most innovative applications of property valuation comes from Citybldr, which answers the question, “what could your home be worth if developed at its highest and best use?”. Citybldr applies machine learning to an AVM they get from ATTOM along with other public record property data from ATTOM and data from other sources to determine the best use of any parcel of land and then to determine what the property would be worth at its highest and best use.
“(A) good use case is a valuable redevelopment property in Capitol
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DEC 2018 | ATTOM DATA SOLUTIONS
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