Method and apparatus for computing selection criteria for an automated valuation model
First Claim
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1. A computer-based method of calculating an automated valuation rank, comprising the steps of:
- gathering new data on at least one property;
requesting automated valuation model valuations of said at least one property;
calculating an automated valuation model rating based on at least one indicator of precision for said at least one property; and
calculating the automated valuation rank based upon said automated valuation model rating.
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Abstract
A method and apparatus for ranking automated valuation model valuations. The method and apparatus involves a multi-step process and means for completing this process for calculating an automated valuation model score and then ranking the automated valuation models for precision based upon the results of this calculation.
71 Citations
51 Claims
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1. A computer-based method of calculating an automated valuation rank, comprising the steps of:
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gathering new data on at least one property;
requesting automated valuation model valuations of said at least one property;
calculating an automated valuation model rating based on at least one indicator of precision for said at least one property; and
calculating the automated valuation rank based upon said automated valuation model rating. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21)
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22. A computer-based method of calculating an automated valuation rank, comprising the steps of:
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gathering new data on at least one property;
requesting automated valuation model valuations of said at least one property;
calculating an automated valuation model rating based on two or more of the following indicators of precision;
a) a hit score b) a useful hit score c) a centrality score d) an accuracy score e) an outlier score calculating the automated valuation rank based upon said automated valuation model rating. - View Dependent Claims (23, 24, 25, 26, 27, 28)
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29. A computer-based apparatus for calculating an automated valuation rank, comprising:
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temporary data storage means for storing relevant data;
input means connected to said temporary data storage means for receiving new data on at least one property;
automated valuation model connection means connected to said temporary data storage means for requesting automated valuation model valuations of said at least one property; and
calculation means connected to said temporary data storage means for calculating an automated valuation model rating based on at least one indicator of precision for said at least one property and further for calculating the automated valuation model rank based upon said automated valuation model rating. - View Dependent Claims (30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44)
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45. A computer-based apparatus for calculating an automated valuation rank, comprising:
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temporary data storage means for storing relevant data;
input means connected to said temporary data storage means for receiving new data on at least one property;
automated valuation model connection means connected to said temporary data storage means for requesting automated valuation model valuations of said at least one property; and
calculation means connected to said temporary data storage means for calculating an automated valuation model rating based on. two or more of the following indicators of precision;
a) a hit score b) a useful hit score c) a centrality score d) an accuracy score e) an outlier score said calculation means also used for calculating the automated valuation model rank based upon said automated valuation model rating. - View Dependent Claims (46, 47, 48, 49, 50, 51)
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Specification