Dr. Antonis Alexandridis, an expert in machine learning and modelling, has been contacted by the Eurobank Property Services SA to act as a consultant.
Eurobank Property Services SA is one of the largest real estate companies in Greece, also operating in Romania, Serbia and Bulgaria. Eurobank Property Services SA is the dedicated investment arm of the Eurobank Group in real estate.
Dr. Antonis Alexandridis will develop a software based on machine learning algorithms for the automatic valuation of real estate properties based on their characteristics. Conventional quality control methods typically entail manual review of a random sample of completed appraisals. Application of an Automatic Mass Valuation System (AMVS) to this process offers the advantages of increased speed, reduced subjectivity, limiting the need for manual review to cases identified by the AMVS as exceptional.
This project will have significant impact in operational efficiency of commercial banks. The proposed AMVS can be adapted in applications such as mortgage quality control or appraisal review, loss mitigation analysis, portfolio valuation and appraisal process redesign.