Automatic valuation systems revolutionize real estate appraisal process for agents.
Automatic valuation systems are being used in the real estate market, but real estate agents are hesitant to adopt them. A study interviewed real estate agents and a business manager to understand their perspective. The research found that real estate firms rely on past data and IT tools for accurate appraisals. Automatic valuation systems can be helpful, especially in areas where houses look similar, but they can't replace physical inspections. In unique areas, the system needs to be accurate and up-to-date. Overall, automatic valuation systems can be a useful tool for real estate agents, depending on the location they work in.