Can it Be Done?
Spoiler alert: yes it can.
A couple of years ago, I started digging around about using AI for valuing residential properties. Back then, everyone said it was too complicated for “algorithms” to handle, and AVMs only served to lure customers. I challenged that and built AccuVal, which has proven that it’s possible to get 90% of the valuation done under 30 seconds with unprecedented accuracy.
The same scenario has repeated itself for valuing commercial properties. The graph in this post illustrates the result of a very early experimental AI model that was able to value 10,000 commercial properties (that it didn’t see during training) with an average accuracy ranging between 70% and 85% (for challenging areas and stable areas accordingly).
I will be posting more as the development progresses so make sure to watch this space if this interests you 😉