Well-trained associates at home improvement stores will often ask customers how they will be using a tool or product to narrow their recommendations and match the tool to the customer’s need. They know the needs of a first-time homeowner are different than those of an avid do-it-yourselfer and certainly different from a professional contractor. Bottom line: the right tool for one customer might not be best suited for another. Now, a similar approach is informing the development of the next generation of Automated Valuation Models (AVMs).
In this article, join Jon Wierks as he outlines why there are so many different types of AVMs and get a deeper understanding of the three grades of AVMs commonly available: marketing, consumer facing, and lender.