WHAT IS AN AVM? (Automated Valuation Model)

Explains the use of Automated Valuation Model (AVM) in real estate appraisals. AVM is a computer-generated report that provides an estimate of a property's value based on data from various sources, and it's often used by real estate websites, lenders, and investors to quickly determine a property's value without the need for a physical inspection by an appraiser. The video highlights the advantages of AVMs, such as their speed and cost-effectiveness, but also notes their limitations, including potential inaccuracies in certain situations. The video emphasizes the importance of consulting with a licensed appraiser when in doubt to ensure an accurate assessment of a property's value.