The computer will choose sales or leases for comparison. Expert systems available to the user will work over the data to generate value conclusions. Automated appraisals will be quicker, less expensive, and at times even more accurate than appraisal done by traditional means. Automated appraisal has already arrived. Automated appraisal is on the minds of residential appraisers.
Commercial appraisal is more complex.
But with accurate data, transferring these same methods to commercial property valuation is only a further step. There are many possible methods of automated appraisal. For automated appraisal, the more comprehensive the data and the more easily retrieved, the better. As with any data reliant system, accuracy of the data is important. Next, the model must have a way to define the market.