PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM GLOSSARY
An automated valuation model is a computer-based system that estimates property value by applying statistical or machine-learning methods to public records, property characteristics, and market data.
Valuation and Market Analysis
Valuation services
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PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDEBuild the complete exam definition
Learn the rule, separate it from the nearest distractor, then apply it to a Georgia fact pattern.
What does Automated valuation model (AVM) mean?
An automated valuation model is a computer-based system that estimates property value by applying statistical or machine-learning methods to public records, property characteristics, and market data.
How do you separate the nearest exam answer?
An AVM produces an automated estimate. An appraisal involves professional judgment, assignment analysis, and accountability by a qualified appraiser.
What changes or stays the same in Georgia?
AVMs are used in Georgia markets, but the national exam distinction remains tool versus professional valuation. Data quality and unusual property features can materially affect reliability.
A lender's system analyzes recorded sales, location, size, and tax data to return an instant value estimate without a property visit.
Fast and data-heavy does not mean conclusive. An AVM is not automatically an appraisal or a guarantee of sale price.
PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDERetrieve the rule under exam conditions
Answer before reading the explanation. Then explain why every distractor belongs to a different term.
A Marietta seller points to an instant online estimate of $410,000 built from public records, with no one visiting the home. The lender's appraiser later values the home at $385,000. Which statement is accurate?
- A
The online figure controls because it draws on more sales
- B
The $410,000 figure is an automated valuation model estimate, not an appraisal
- C
The online figure is a broker price opinion
- D
Both figures are appraisals that carry equal weight
An automated valuation model applies statistical methods to property and market data and returns an estimate without a site visit or a person's professional judgment. An appraisal is prepared by a qualified appraiser who is accountable for the analysis, so speed and lots of data do not turn an AVM into an appraisal.
Mark each box only when you can perform the skill without looking.
I can define the term in one precise sentence.
I can separate it from the closest look-alike.
I can explain the Georgia rule or confirm that the national rule applies.
I can answer the practice check and explain every option.
PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDEConnect the term to the wider exam
Use these relationships to move from isolated recall to a connected exam model.
Valuation and Market Analysis complete lesson
https://www.passgeorgiarealestate.com/study-guide/valuation/appraisals
Official exam administration and content-outline source.
https://test-takers.psiexams.com/api/content/bulletin/4672Congressionally authorized source for USPAP and appraisal standards.
https://appraisalfoundation.org/pages/uspap