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Goals of the RELAR Analysis

The RELAR analysis was developed to meet the following goals:

  • The analysis should be available for properties located anywhere within the United States
  • The analysis should provide unbiased estimates of the sale price of properties. In particular, for an aggregate list of properties, the total valuation should not differ from the aggregate sales price for the properties in the list by more than +/-1%. This constitutes a requirement that the analysis not be biased either high or low relative to actual sales prices.
  • The analysis should provide an accurate estimate for the sales price of individual properties for a minimum of 95% of the properties analyzed, where accuracy is defined as predicting the sales price to within +/-5%.
  • The results of the analysis should provide confidence levels for the answers based on standard statistical models. This provides customers with assurance that they can use the results of the RELAR analysis as input to risk analysis models where the inputs are well defined and standardized.
  • The results of the analysis should be customizable to meet the requirements of individual customers and requestors.

RELAR is a web based product. In order to run a liquidity analysis on a residential property, the requestor logs into the site and is directed to the basic analysis page.

A customer organization establishes an account and can then designate as many individuals as desired to be requestors. Each individual requestor has a separate user name and password for logging into the web site. When the requestor logs in, the customer organization is also identified for customization and billing purposes. Thus, if volume discounts have been established for a customer, all requestors using the RELAR will count toward the volumes required for specified discount levels. As described below, the ability to relate individual requestors to customer organizations also provides the ability to set default customizations for the RELAR based on customer preferences, and, where appropriate, to override those defaults to meet the specific needs of individual requestors within the organization. In either case, the customer organization still benefits from the total volume of requests in terms of pricing and discounts.