What is RVM in RPR?
RVM® = Realtors Valuation Model®: a value estimate calculated using publicly available information plus MLS active, sold and off-market data. The RVM®is available exclusively for REALTORS® via RPR (Realtors Property Resource)
How accurate is AVM in real estate?
Generally, all AVMs tend to be less accurate in rural areas where sales are fewer. However, even in rural areas, AVMs will often provide accurate value estimates. AVMs are also less accurate when valuing properties that are unusual, much larger than average, or have particular distinctive features.
How is property resale value calculated?
There is a formula to calculate market valuation of resale flat, i.e. Value or resale flat = value of undivided share of land + depreciated value of building and amenities + value of overheads, expenses, etc. To calculate you must know the current market price of similar properties in the location.