MPAC hosting realtor event on June 22

by Neil Sharma on 15 Jun 2021

Hot on the heels of a series of successful webinars for its real estate agent partners, the Municipal Property Assessment Corporation (MPAC) will be hosting Leading Market Intelligence for Today’s Realtors on June 22 from 9:30-noon.

The event will feature Jason Mercer, chief market analyst of the Toronto Regional Real Estate Board, Shaun Cathcart, director and senior economist of housing data and market analysis at the Canadian Real Estate Association, as well as MPAC's very own Greg Martino, vice president and chief valuation and standards officer.

“Shaun will talk about the current state of the Ontario market, while Jason will talk about the Greater Golden Horseshoe, and Greg will give a brief update on the assessment pause in Ontario, in addition to things we at MPAC have been doing during COVID,” said Chris Fusco, MPAC's director of real estate and strategic accounts. “Greg is also going to switch gears and talk about our AVM product.”

The Automated Valuation Model (AVM) is an MPAC tool that has been touted as a way to give its users a competitive advantage thanks to its big data insights. A persistent problem real estate professionals have is trying to convince their seller clients that their listing price isn’t realistic or that they have, indeed, received a fair offer, and the AVM—which has over 4 million properties in Ontario alone—is a great way to do that.

The AVM is updated weekly and derives data from the financial services space—including over 200 factors that impact property values—using land registry office data, on-site inspections, building permits, land title documents, and more, to give real time market value estimates.

The AVM isn’t just used by realtors: insurers, too, use it to confirm current values of purchases they’re underwriting, sometimes forgoing the need for site visits; mortgage originators also use it to establish collateral market positions to help with their internal risk adjudication tools; real estate investors and financial institutions also use the AVM to manage their portfolios.

To register for Leading Market Intelligence for Today’s Realtor, click here.

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