首页|Researchers Submit Patent Application, 'Systems And Methods Of Property Valuation', for Approval (USPTO 20240005348)
Researchers Submit Patent Application, 'Systems And Methods Of Property Valuation', for Approval (USPTO 20240005348)
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News editors obtained the following quote from the background information supplied by the inventors:“One of the challenges in the residential construction industry is estimating the price at which a newproperty should be sold at. A number of factors apart from the location weigh in. This price determinesprofit margins, and in a way, the very survivability of the builder company.“Traditionally, this has been done by studying historic prices of new homes sold in the region and manuallyextrapolating the target price for the new house under construction. There are several disadvantages tothis approach. For one, this can be done only by individuals who possess a high level of domain knowledge.Secondly, there is no explanation of how the price was arrived at.
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