We were approached by a client in the appraisal space to develop the underlying algorithm for a web application they were building. The algorithm utilized Georgia and Washington MLS data, and upon inputting a new home, would find 5 comparable sold homes in terms of quality, beds, baths, etc. It would then output an estimated valuation of the home.
The project goal started as a way for employees to validate their appraisals and avoid being flagged for inconsistent valuations from other appraisers (normally due to human error). The future goal of the system is to reliably automate much of the appraisal process.
