AVMs – automated valuation models – can be the secret solution that makes a more competitive lender.
AVMs allow lenders to estimate property value based on a mathematical algorithm. While it does not replace a full appraisal, an AVM can:
- Verify stated value by the client (important for mitigating risk).
- Allow the lender to validate if a deal is viable quickly, saving valuable time and effort.
- Help identify upsell opportunities.
- Find opportunities clients may not even be aware of through estimating available equity.
- And more…
AVMs are a versatile tool that can give your lending operation a leg up on the competition. We are diving into detail about what they are and how to access them on the Purview blog.
Read all about AVMs here: https://www.purview.ca/three-letters-that-make-you-more-competitive-avm/
