Benchmark - AVMetrics

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(1) A term used in land surveying to mean a known point of reference. (2) In property appraisal, a property of known value and of known effective age and replacement cost. (3) By extension, a model property to be used in determining by comparison the grade or quality class of other properties.

Glossary: Back-testing
Glossary: Model Validation
Glossary: Soft Benchmark Values
Glossary: Usable Hit Rate
How AVMetrics Tests AVMs Using our New Testing Methodology
AVMetrics has a new method of testing AVMs. The goal is to avoid the process of "anchoring," which is when AVMs adjust their valuations based on listing prices. Our new method is a dramatic innovation that will level the playing field for all the AVMs.

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