RCA
Elite Member
- Joined
- Jun 27, 2017
- Professional Status
- Certified General Appraiser
- State
- California
How does you eyes not goo up? That's my main problem. My eyes just give out where I cannot think or read.
With all of that free time.....
Please develop a software program that uses AI to rate comps for quality and condition and then can be downloaded to a grid for matched pair or grouped paired analysis.
The RCA method I have been using for years, does a very good job of that. But, really, it ranks the comps, even hundreds, or thousands, on the basis of the residual after subtracting the MARS regression estimate of value from the net sale price. Assuming you have a high level regression model, then you are dealing with a "Market Reaction" based score of a home's appeal in the current market - and that is better than any kind of AI analysis of the photographs ---> unless of course it is trained on the RCA CQA score to begin with. The RCA produced ranking is what the appraiser looks at to score the subject -- and that ranking had better present a fairly reasonable pattern in the MLS photos for each comparable vs their position in the ranking, so that it is not difficult to fit the subject somewhere in the ranking by studying the photos.
Now however, with the RCA ranking, you can use ResNet to train a CNN to correctly place the subject is said ranking - and save yourself some time. So, likely the whole RCA process can be automated.
So many jobs are going to be replaced by AI. Really. Is it good or bad? Well, I don't want to have to waste my time doing something that can be done by a machine.
So, in the end, it might just be that many people will just be paid to stay at home, watch TV, play games or ... so many other things like protesting for higher pay to stay home and do "nothing" - or work on solving the declining population problem.