*Measuring AVM Accuracy*
**New Reseller Emerges**
***Are AVMs accurate? When should you use them? New developments are making AVMs a more valuable tool each and every day. For example, Veros has added the Realtors Valuation Model (RVM) to its platform of solutions for the mortgage and investor market. RVM is the product of Realtors Property Resource, LLC (RPR), a wholly owned subsidiary of the National Association of REALTORS, and Lender Processing Services, Inc. (LPS).
****“The AVM marketplace continues to introduce high-performance models,” says David Rasmussen, Veros’ senior vice president of operations. “These models are particularly important as the most recent update to the Interagency Appraisal & Evaluation Guidelines highlighted the need for thorough testing of all valuation methods of all varieties. Utilizing multiple AVMs according to performance is an efficient and effective approach to valuation. RVM is another high-performing model to add to our impressive list of available AVMs.”
****Tricia McClung, RPR Vice President of Business Development, states, “The Realtors Valuation Model was created to assist the housing market – from REALTORS to investors – with improved analytics that enhance how properties are priced and evaluated. RVM leverages a broad array of property information, including REALTOR market data, for a comprehensive, current, and reliable valuation result.”
****Veros will market RVM to its client base as a standalone product as well as through its valuation management platforms: VeroSELECT and Sapphire.