Contributing to RICS event “Future of Valuations — AVM for property valuations”

RICS in Greece combined the presentation of its unique Insights Paper “Future of Valuations” with a very successful event, which exclusively focused on AVMs (the previous event held in Greece about AVMs was almost 11 years ago!). The event was held in Athens, Greece on Thursday 13/12/2018.

Following the spirit of the Insights Paper, the event covered technical aspects of AVM, everyday situations for valuers and ignited a very vivid discussion afterwards. A lot of different voices have been heard regarding how RICS recommendations about AVM and technology, in general, can be implemented in Greek valuers’ everyday practice.

Our Konstantinos Gatis presented two topics (“AVM: history and contemporary trends” and “AVM in valuers’ everyday practice”). We were honoured to share the deck with the pioneer of AVMs in Greece, prof. F. Mouzakis, who gave an “Overview of AVM methodologies and validation process. Case study by AVM implementation and use in Greece and the Balkan region.”

The timing of the event was absolutely critical, as AVMs presence is tiny now in Greece but their evolution will be immense in the short term due to new market demands; large NPL portfolios are decisively sealing valuation profession fate.

We thank RICS for the chance to contribute!