API Valuation Model
Brainbay’s model-based home valuations are based on the exhaustive and latest housing market database existing in the Netherlands. Brainbay’s Automated Valuation Model (AVM) is using a combination of data about the property in question, the market, the location and social data sources. The model is now using over 100 features of the property and the neighbourhood involved to decide on the most accurate value.
What makes Brainbay’s Valuation Model so accurate?
- Brainbay is managing the most extensive database on residential property in the Netherlands.
- Brainbay has the latest data in the Netherlands.
- Brainbay progressively uses artificial intelligence.
- Brainbay is using a highly sophisticated self-learning model.
The most exhaustive and current data in the Netherlands
As NVM’s subsidiary, Brainbay has been managing the most complete and detailed property database in the Netherlands (TIARA), NVM’s exchange and big data system. These data are not only the most complete, but also the most current data available in the Netherlands.
For model-based home valuations, this rich data source is also supplemented by data gained from public sources (e.g. Statistics Netherlands), data involving consumer segmentation and data derived from images and texts offering homes.
Strong mathematical model
Data are then subjected to a strong mathematical model based on the gradient boosting principle. It is a machine learning algorithm, gradually improving the model within an iterative process. During the self-learning iterative process, weaker forecasts are predicted, constantly refining the model against these weaknesses, until it scores high in all situations, presenting the latest property value. Brainbay’s valuation model is demonstrably successful in each price segment, for each type of residential property and in every location across the Netherlands because of the strong underlying mathematical model.
Using artificial intelligence progressively
Brainbay’s model-based home valuations are at the forefront when it comes to using artificial intelligence. For instance, the mathematical model also uses variables which are being generated by means of visual recognition of current property images. Also, text-mining-algorithm is used to “extract” variables from offering texts. These methods give the mathematical model a better image in terms of quality in general, the state of repair and any other distinctive features that interfere with the home valuation.
All this combined, Brainbay’s API Valuation Model grants access to the most reliable and accurate home valuations in the Netherlands.
“Our API Valuation Model combines the rich TIARA database with advanced artificial intelligence to ensure the best home valuations.”
Brainbay’s API Valuation
Brainbay’s model-based home valuations are currently used in a tool known as the ‘Inverkoopname’ tool. It is a Brainbay application exclusively available to NVM’s real estate agents. The tool helps NVM’s real estate agents determine the best sales strategy for a particular residential property. It only takes a single search to get the latest details of a property, an estimate of the current value and references of similar homes.
The model-based valuation is also unlockable as API, which means it is available to external parties as well. With Brainbay being NVM’s subsidiary, external parties may only connect to Brainbay’s API Model Valuation under the correct terms. One of the main conditions is the added value which the connection provides to NVM’s real estate agents.
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