The future of commercial real estate valuation will be shaped by innovative technology, according to reports published by the Appraisal Institute, an organization of professional real estate appraisers.
The valuation profession can make the transition from a data-poor discipline to a data-rich one by adapting the tools of “predictive analytics” used in other industries, according to "Visual Valuation: Implementing Valuation Modeling and Geographic Information Solutions.”
Edited by Mark Linne, with Michelle Thompson, the book features 15 chapters by experts who provide practical discussions on how to use GIS and modeling technology in valuations. It includes case studies by academicians who apply technology to solve problems in housing, resource management and other areas.
The valuation scenarios presented in the book range from approachable to complex, as contributors discuss valuation modeling and GIS while addressing the concerns of more sophisticated users already comfortable with the technology’s practical applications.