Real estate agents edition
This week the focus is on valuation: a new AVM meets NRVT rules, while the AI Act places your automated valuation under strict oversight.
Valuation AI is officially 'high risk': your signature carries more weight than ever
The AI Act places automated valuations in the strictest permitted category. That means: an audit trail, human oversight, and an explanation of how a valuation is reached.
The EU AI Act labels valuation AI as 'high risk'. Providers of automated valuation model tools (AVMs) must keep an audit trail, guarantee human oversight, and explain how the model reaches a value. Specific risks the Act names include: undervaluation of certain neighbourhoods (bias) and privacy concerns around photo analysis. For you as a valuer, this means an automated valuation is never a formal appraisal in its own right.
Background for subscribersThe Woningwaarde API from Altum AI meets NRVT guidelines and is used by the NWWI. But the AI Act is clear: an automated valuation is a tool, not an appraisal. The law requires that you, as a human, can intervene and explain how a value was reached. Your signature gives the final value legal weight; the tool does not.
Altum AI: automated valuation with 250+ data points that meets NRVT guidelines
The Woningwaarde API from Altum AI analyses more than 250 data points per property, from energy labels to sustainability data, and meets the guidelines of the NRVT. The tool is actively used by the NWWI and positions itself as a bridge between a quick AI estimate and a formal, validated appraisal.
Background for subscribersThis is a taster.
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