For years, most Real Estate professionals have been relying on “traditional” appraisal techniques, such as paired sales analysis. The “traditional” methods contain a high potential for data bias because the appraiser often engages in the highly questionable practice of “data mining” by selecting comparable sales to support a preconceived value conclusion.
In contrast, regression analysis relies on an unbiased random selection of comparable sales. Regression analysis takes sample size and variance in the real estate market into consideration to arrive at value. Regression analysis goes beyond the standard comparable model, including a larger set of more than 250 comps to determine which features are driving value in a specified area, providing users with adjustments at a 95 percent confidence level.
Unlike manual regression models that require statistical expertise, lengthy training and expansive spreadsheets— and which are perhaps even more cumbersome than existing techniques—automated regression technology is based on proven mathematical equations that can be replicated time and again.
What makes SAVVI Analytics Different?
Data Analysis For Appraisers
Unsupported results can cost you when it comes to mitigating risk. Make Savvi data quality analysis part of your process for accurate analysis every time.
Savvi’s data quality analysis is an automated review tool with a supporting data report, which includes:
Data quality check feature
Condition Adjustment with Realtor remarks
Perfect for everyone involved in the property analysis that are interested in a closer look at collateral data—Savvi provides details on the subject property, its neighborhood and recent area sales.
SAVVI allows Real Estate professionals to employ automated regression analysis to determine attribute and time adjustments based on the subject property.
Our software employs a large set of more than 250 comps from our database to determine which features impact value in a specified area, providing appraisers with adjustments at a 95% confidence level. Adjustments are populated into your appraisal report along with a supplemental addendum that includes supporting data and justifications for using our regression analysis instead of a “Paired sales analysis”
Unlike manual regression models that require statistical expertise, lengthy training and expensive spreadsheets – which are even more cumbersome than traditional valuation methods – automated regression technology is based on proven mathematical equations that can be replicated time and time again.
Regression models are only as good as the data on which they are based. Data that have been incorrectly entered, have many missing or inaccurately entered values for property characteristics, etc. will produce less accurate results. As the old saying goes, “garbage in – garbage out.”
Savvi’s data screening process is used to insure that the data used by the appraisers in developing their regression model was accurate and complete. Savvi’s automated data quality checking system points out any missing or invalid data that might render bad results, instantly indicating how well the comparables are at predicting value.
Savvi’s Data Quality Analysis
Back Your Analysis With Savvi’s Easy to Read Report
Looking to back your adjustments or your final value? Savvi’s report is what you are looking for.
Savvi’s report gives you all the supporting analysis you need. Its easy to read layout allows the reader to follow the step by step process to see exactly how you arrived at your analysis.
The Savvi Vault stores all of your data and analysis in one place for easy access. If your analysis is ever questioned, simply request the data from our vault. Starting from your MLS search, quality of data analyzed to your final report.
Savvi has your back when it come to analysis.