this post was submitted on 21 Oct 2024
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Poor realtors... it turns out that reality and mother earth don't give a shit about the housing market.
It always surprises me that when making the biggest purchase of their life people put so much trust and blind faith into realtors who aren’t required to have any formal education nor required to have any credentials to do the job.
Maybe they should be required to get a degree that covers topics like geography, land use planning, architecture, and trades related to home construction.
They do require credentials in most places, I know they do in Ontario, not sure about Quebec. Is more about the rules, and after that it’s all marketing.
What astounds me is how little thought most Canadians put into researching a home and pricing their offers. Mostly it’s just guessing close to a nearby house.
We had considered flood maps, and I used statistical models plus machine learning to tune my bid prices. I actually had a lot of fun with the whole thing.
Yes, but typical Canadians aren't going to use ML to price their bids. At best, for most, it's a qualitative assessment based on realtor input, and their own judgement.
Well no, but not basing your pricing decisions on anything actually objective is frankly foolish.
A person who has a vested interest in you bidding high because it means they get paid more and get to take on more clients isn't the person you should be basing pricing decisions on.