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Letting Algorithms Replace Human Appraisers

UK Daily Mail: Proposed new regulations would allow homes to be bought and sold through electronic valuations rather than human appraisers

  • Home appraisals could be done electronically without the need for a licensed human regulator, according to new proposals  
  • Regulators say the vast majority of homes could be appraised using electronic algorithms which could make house buying faster and cheaper   
  • About 214,000 home sales could have been made last year with the change 
  • House appraisers were largely blamed for inflating prices during the crash…”

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