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Proven to be correlated to the accuracy of value
Veros delivers Confidence Scores on a numeric scale of 1 -100 that is designed for easy integration into automated systems. Our confidence scores are proven to be highly correlated to the accuracy of the estimate of value.
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How it works
The Veros Confidence Score utilizes proprietary techniques to look at numerous factors and their relationship to our valuations. For example, we analyze the multiple valuation methods running behind the scenes to identify patterns reflective of accuracy levels. We also consider a host of other issues such as subject property fitness across a variety of constraints including property type, price level and geographic/regional influences.
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| Typical percentage of returned VeroValue AVM Reports the fall into each Confidence Score Range |
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Valuation Distribution by Confidence
The Veros Confidence Score is specifically designed to be an indicator of the subject's valuation accuracy. Each major confidence range in our system generally corresponds to a 5% variance. Thus, values with confidence scores of 90-100 generally correspond with +/-5% of variance and values with confidence scores of 80-89 generally correspond with +/- 10% variance, and so on.
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