Dr. John Kilpatrick spoke to a packed room at the Fall Real Estate Conference of the Seattle Chapter of the Appraisal Institute. His presentation, “What Appraisers, Bankers, and Attorneys need to know about AVMs and Statistical Modeling,” focused on Automated Valuation Models (AVMs) and how they have become popular to accomplish a wide range of tasks.
In recent years, AVMs have grown in popularity, however, many in the real estate industry are unsure about how the modeling works and how they can effectively use it in their practice. Dr. Kilpatrick, chairman and co-managing director of Greenfield Advisors, utilizes AVMs on a regular basis. Because of his work with AVMs, Greenfield Advisors has become a leader in real estate analysis and statistical modeling industry.
“While statistical modeling is a technique we use on many of our projects, there are a lot of professionals who are either not familiar with the process or don’t understand how it can benefit their work,” Dr. Kilpatrick said. “What some don’t realize is that it’s not just appraisers that can use statistical modeling. Attorneys will find that it can boost arguments in a way that other evidence types cannot replicate.”
Nearly 200 professionals attended the conference, which hosts the top real estate experts in the Pacific Northwest for a one-day session with topics that covered a wide range of real estate topics. The conference received high marks from nearly everyone who attended, with the vast majority of attendees rating the event as one they would enthusiastically recommend to their colleagues.