Training & events

Automated Valuation Models - Opportunity or Threat?

Web class Online, 15 Feb 2018

Since the recession, little has been heard of AVMs and the threat posed to property professionals but they are now back in fashion. What are the implications for you and your role?

Learning outcomes

  • Distinguish an AVM from other computer database resources
  • Summarise the key points of the RICS Information Paper Automated Valuation Models
  • Recognise the current impact of AVMs on the residential valuation profession
  • Identify the potential for the future use of AVMs
  • Provide more informed advice to your clients on the use of AVMs.

Web Class Summary 

When Automated Valuation Models (AVMs) were first introduced, there was great concern about their reliability and how they might affect the role of residential Valuers but during the recession, AVMs went quiet. Now the market is more active they are once more being widely utilised and their potential applications are much wider than simply for mortgage valuations. Some lenders even see them as a partial answer to a perceived shortage of Valuers.

Before using or advising a client to use an AVM, you need to ensure you understand their reliability and any other areas of potential risk. Using the RICS Information Paper Automated Valuation Models, explore their practical implications; discuss best practice and how AVMs are likely to be used in the future.

Who Should Attend

  • RICS Registered Valuers, especially Residential Valuers
  • Residential asset managers
  • Estate agents.
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Content

  • Defining an AVM – how an AVM is different from other database resources?
  • Pros and cons of AVMs – where they work well and where they won’t
  • AVMs in the context of residential mortgage lending
  • AVMs in the public sector
  • Using AVMs with other data sources.