StreetSine, SISV reach understanding on automated valuation models; court action ends

Singapore

STREETSINE and the Singapore Institute of Surveyors and Valuers (SISV) have reached an understanding on the use of automated valuation models (AVMs) following mediation, which has resulted in StreetSine discontinuing proceedings that had been previously brought against SISV.

In a joint statement issued on Tuesday morning, StreetSine and SISV said: "Pursuant to a court-initiated mediation process, SISV and StreetSine have come to a better understanding to promote the use of technology, such as SRX X-Value, as a tool for pricing residential property in Singapore."