The Fair Market Value (FMV) API from CogNub Decision Solutions provides a fair market value for the Subject Property based on the comps that were selected by the agent. It incorporates several quantitative and qualitative input parameters to arrive at the fair market value.
The FMV API takes the latest sold, active and pending properties that were added to the comparable basket and determines the current market value of the property using a sophisticated neural model. The neural model is proprietary to PropMix.
The Fair Market Value gives the Agent one more input to consider while doing the comparable market analysis (CMA). The accuracy of the FMV estimate is enhanced by providing more number of properties in the comparable basket.