A Framework for the optimal Development and Application of Automated Valuation Models (AVMs)

With the increasing digitization and big data, automated valuation models (AVMs) are becoming increasingly important within the real estate industry (internationally). The further potential for the use of AVM seems enormous. However, the mainstream AVM research is hitherto largely one-dimensional and requires a wider and focus. Especially stakeholders with situational-recurrent (e.g. mortgage lending, transaction, etc.) or regular valuation tasks (e.g., risk management, performance analysis, etc.), have the need for individual AVM solutions. An efficient access to the subject is still difficult because of the high complexity. Thus, the respective stakeholders have an increased interest in systematic and integrated decision support. Working on this point, the dissertation tries to give guidance for the optimal development and application of AVMs.