Veros AMC Suspect Forecast
As real estate appraisers, we are the best source of market insights to the consumer because we aren’t paid on commission. One of the things that appraisers should not do, is pretend to know what will happen in the aftermath of the Coronavirus. No one knows at this point because the Coronavirus itself hasn’t reached its Apex so there is no light at the end of the tunnel. Sure we can speculate about the future, but there are no specific numbers to back that up.
That’s why a recently shared report by the AMC known as Veros is so irresponsible. I can’t figure out what these precision results are based on, and even if I did, I still wouldn’t see it as believable given the nature of the crisis. Don’t let pretty infographics infer topic expertise.
I can only assume this publicity stunt was to showcase “big data capabilities” but all it did was to showcase their lack of understanding of this crisis.
As Joan Trice, CEO/Founder of Clearbox, told me yesterday:
This will prove to be the dumbest statement of this crisis. Is this based on data or the magic eight ball on the corner of his desk?