The property market is increasingly adopting automated valuation models (AVMs), with speed, cost and the removal of ‘human errors’ among the driving factors, but adoption also comes with challenges.
April 2022
This paper represents a snapshot of the current landscape of AVM adoption across all asset types and follows on from RICS’ AVM roadmap, published in July 2021, which engaged with stakeholders in all major world markets.
Many people see the term AVM and picture a fully, 100% automated process, where a valuation is produced by a computer with little or no human intervention, but the reality is a much broader spectrum of hybrids involving varying degrees of automation, digital data sources, and different levels of human involvement and interventions.
Published date: 01 April 2022
July 2021
Following a series of industry forums, RICS has developed a roadmap to ensure we produce the appropriate guidance, standards, and content to support our members, and to continue providing market confidence in valuations.
The attached road map document describes in detail, the themes and questions we are seeking to answer during this engagement process.
Published date: 19 July 2021