Invention Grant
- Patent Title: Automated valuation model using ordinal variables such as condition and quality variables
-
Application No.: US13418173Application Date: 2012-03-12
-
Publication No.: US10997676B2Publication Date: 2021-05-04
- Inventor: John Treadwell , Lisa Dorsey , Patria S. Kunde , Eric Rosenblatt , Jesse Staal
- Applicant: John Treadwell , Lisa Dorsey , Patria S. Kunde , Eric Rosenblatt , Jesse Staal
- Applicant Address: US DC Washington; US VA Arlington; US VA McLean; US MD Derwood; US VA Arlington
- Assignee: John Treadwell,Lisa Dorsey,Patria S. Kunde,Eric Rosenblatt,Jesse Staal
- Current Assignee: John Treadwell,Lisa Dorsey,Patria S. Kunde,Eric Rosenblatt,Jesse Staal
- Current Assignee Address: US DC Washington; US VA Arlington; US VA McLean; US MD Derwood; US VA Arlington
- Agency: Michael Best and Friedrich LLP
- Main IPC: G06Q50/16
- IPC: G06Q50/16 ; G06Q30/02

Abstract:
An automated valuation model that uses condition and quality variables. In response to user queries, the model ranks and displays comparables for a subject property. The comparables are selected based on their similarity to the subject. Data on quality and condition of properties is incorporated into the model and corresponding comparable assessments. For example, the quality and condition inputs may be used in a hedonic adjustment factor model, comparable selection exclusion rules, economic distance calculations, and adjustments for differences between the subject and comparables at comparable selection stage. The comparables may be displayed in ranked order based on the calculated similarities between the properties, with indications of the quality and condition categories, to provide an overall assessment of the comparables as well as displayable indications of the underlying quality and condition categories and related information. The model may also use other ordinal variables and may perform any type of valuation.
Public/Granted literature
- US20130238512A1 AUTOMATED VALUATION MODEL USING ORDINAL VARIABLES SUCH AS CONDITION AND QUALITY VARIABLES Public/Granted day:2013-09-12
Information query