Opposition is growing over Quebec's new flood maps, with the province's professional association of real estate brokers warning they could disrupt the housing market and directly impact homeowners.
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.
My one house purchased late 90s in Ontario came with notes and required signoff aknowledgement that it was in a designated flood plain.
So flood plain awareness should not be new to people.
(The home was on a raised pedistal foundation, so flood damage should have been minimal if it occured, and price was right)
Moving out west with huge topology changes meant I always checked flood plain maps before looking at realestate.
Some friends of mine called me paranoid and had a good laugh about my efforts…but I think with all the atmospheric rivers and worldvwide flooding recently, they may now understand my madness.
I doubt machine learning has been very accessible to most home buyers, especially a few years ago. Plus real estate business makes it sound like they do all that kind of work for you, and realistically that should be part of their job. I should be able to ask a realtor for a full site assessment including any environmental sampling that had been done and maps like flood maps.
Yeah, it’s something I’m very capable of, but 99% of people wouldn’t be able to do.
Between the bank issuing mortgages, the insurance companies covering the asset and assessing risk, the municipality setting my property tax rates, and the realty brokerages managing the buyers, somebody should be modelling and providing detailed pricing analysis.
This feels like an upsell to use their services, and yet…
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.
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.
My one house purchased late 90s in Ontario came with notes and required signoff aknowledgement that it was in a designated flood plain. So flood plain awareness should not be new to people. (The home was on a raised pedistal foundation, so flood damage should have been minimal if it occured, and price was right)
Moving out west with huge topology changes meant I always checked flood plain maps before looking at realestate. Some friends of mine called me paranoid and had a good laugh about my efforts…but I think with all the atmospheric rivers and worldvwide flooding recently, they may now understand my madness.
I doubt machine learning has been very accessible to most home buyers, especially a few years ago. Plus real estate business makes it sound like they do all that kind of work for you, and realistically that should be part of their job. I should be able to ask a realtor for a full site assessment including any environmental sampling that had been done and maps like flood maps.
Yeah, it’s something I’m very capable of, but 99% of people wouldn’t be able to do.
Between the bank issuing mortgages, the insurance companies covering the asset and assessing risk, the municipality setting my property tax rates, and the realty brokerages managing the buyers, somebody should be modelling and providing detailed pricing analysis.
This feels like an upsell to use their services, and yet…
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.