RICS Knowledgebase

As per Global Red Book 2025 PS1 (compliance with standards where a written valuation is provided)

1.3 An AVM output that has not been subject to the application of professional judgement by a valuer is also not compliant with these standards.

Also at VPS 1 (Terms of engagement) p.44 (page 50 of the pdf) of the Global Red Book 2025

A client may require a restricted service; for example, a short timescale for reporting may make it impossible to establish facts that would normally be verified by inspection, or by making normal enquiries; or the request may be for a valuation based on the output of an automated valuation model (AVM). Note that the provision of an AVM-derived output that has been subject to the additional application of professional judgement by a member would be regarded as the provision of a written valuation for the purpose of these standards. (see PS 1 paragraph 1.3). Accordingly, valuers should be alert to, and aware of, the implications of either accepting or manually modifying an AVM output

See also the RICS responsible use of AI guidance  

See also  the AVM case study here

See also Desktop Valuation entry in this knowledgebase

#Valuation

#Artificial_Intelligence

#automated_valuation_model