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Assessing the Accuracy of Individual Property Values Estimated by Automated Valuation Models

May 11, 2018

Paper by Pr. George Andrew Matysiak

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Much has been written of late about how AVMs will supposedly transform the valuation profession in the future. Yet the focus has been rather on marvelling at the data mining techniques employed by AVM operators. Few have questioned the accuracy or lack of accuracy of their product.

Thus in response to demand from valuers, TEGoVA commissioned Professor Matysiak to produce this innovative work which provides simple guidelines to valuers on what they need to know in order to assess the accuracy or helpfulness of any particular AVM in valuing individual properties.

George Matysiak

Professor George Matysiak

George Matysiak is a Visiting Professor at Cracow University of Economics. He has acted as consultant to a variety of organisations on forecasting and investing in commercial real estate markets. He also holds visiting positions at the School of Economics and Management (ISEG), Technical University of Lisbon and at Antwerp Management School. Before settling in Poland, he was a Professor of Real Estate Investment at the University of Reading /Henley Business School and previously Senior Research Fellow at City University/CASS Business School, London. Professor Matysiak is the author of many publications including the well known text book Real Estate Investment: A Capital Market Approach.