Regression analysis is a process that begins with selecting a group of properties on which the regression analysis will be done. An important step in the Savvi Analytics regression process is gathering data on a set of properties that will be used to estimate how sales prices are affected by property characteristics. While it is important that the selected properties are similar to the property being appraised in terms of characteristics such as square footage, regression analysis require sufficient variation to adequately and accurately estimation the final model.
Savvi data management system Cleans, Organizes and Stores your data automatically. No other software helps you prepare your data for analysis like Savvi. With our automatic processing system your MLS data is checked for missing or inaccurate data. Any data that may give false results is removed or corrected before analysis begins.
As a real estate appraiser, you are interested in determining how a set of characteristics about a given property such as number of baths and bedrooms, total square feet etc., affects the sale price of the property.
Although you might not have thought of them in this way, in statistical terms, the property characteristics that affect the sale price (up or down) are independent or predictor variables because they (help you the appraiser) estimate or predict what the property is worth. Statistically speaking, the estimated sale price is called the dependent variable because the estimated price depends on the set of property characteristic predictors that were considered when arriving at an appraised value. The statistical tool used to estimate a sale price is called regression analysis.
Your MLS data are some of the most important records when it comes to defending yourself. Savvi stores all of your documents and records each step taken in your analysis. No other company analyzes, records and stores all the documentation you’ll need in one place.
When it comes to protecting your livelihood, the Savvi Vault is an important part of your security.
If your analysis is every questioned and you need help, give Savvi a call and we will help defend your analysis. No one else offers this type of guarantee!