I would like to welcome you to “Focus on Analytics.” This column will be published in Valuation Review each month, and over the next several months I will be addressing topics of significance to appraisers who are interested in adopting or expanding their use of analytics in order to develop more accurate value conclusions more efficiently.

First, allow me to introduce myself: I am Mark Stockton, managing partner of Valuation Research LLC. I have been developing analytics for real estate appraisers for more than three decades. My background as an appraiser, a real estate broker, and a bank president and director affords me a unique perspective into the business of property valuation. 

Let’s begin by taking a look at automated valuation models (AVMs), since they are often credited with (or excoriated for) initiating the march toward analytics in property valuation.