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Frequently Asked Questions

What is an AVM?
“AVM” is the acronym for Automated Valuation Model.
An AVM is a computerized system designed to simulate the traditional appraisal process
and provide residential property valuations. AVMs vary widely in accuracy,
reliability and usefulness based upon numerous factors including data quality, real
estate fundamentals and complexity of the underlying technology.
The term “automated valuation model” is actually descriptive of an AVM’s functionality.
Automated differentiates computerized AVMs from the manual process
used by human appraisers. Valuation describes the output and purpose
of the system, relative to residential real estate. Model refers to
the algorithms, methodologies and technologies used by the AVM to analyze data and
produce a valuation estimate.
Consider a few of
the benefits of an AVM:
Immediate
estimate of a home’s value
Immediate
analysis of a market area
Immediate
analysis of current and historic price trends
Confidence
scoring enabling directed and efficient levels of service by the lender
Previously
unavailable analytics
What makes VeroVALUE better than the competition?
Technology, reliability and innovation.
VeroVALUE is built with the latest in predictive technology; technology that evolved
from years of research and development in the aerospace, technology and manufacturing
industries that utilized advanced science to more accurately predict results. The
same technology used in VeroVALUE has been used on mission-critical prediction problems
such as orbital spacecraft reentry and aircraft engine design and manufacturing
for organizations such as Boeing, the U.S. Military, Pratt & Whitney, GE and
NASA.
Reliability is a key component of VeroVALUE through the use of our Vero Confidence
Score (VCS). The VCS is highly correlated to our predictive accuracy and,
as such, is extremely useful in decision making within a lending organization.
Innovation is the driving force behind the technology. Combining highly technical
analytics with real estate fundamentals requires unique and creative thinking.
Our design team has developed numerous proprietary methodologies which result in
more accurate and reliable service to our clients.
For more information on Veros and the exciting products
made possible by our predictive technologies, visit our corporate website at: www.veros.com.
Contact our sales team now and see the benefits for yourself.
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