Residential Market Commentary - People still prefer dealing with people

  • First National Financial LP
The ongoing and increasing adoption of artificial intelligence appears to have its limits. The personal touch, especially when it comes to matters of money and home ownership, still carries a premium for many Canadians.

A recent survey conducted by the Appraisal Institute of Canada (AIC) reaffirms the preference for independent, professional advice, over online and automated valuation models.

"Eighty-four percent of respondents chose appraisers as their preferred source for accurate home valuations," the AIC says.

Canada Mortgage and Housing Corporation's 2025 Mortgage Consumer Survey, conducted back in January, shows 70% of consumers contacted mortgage professionals about their options, up from 60% in 2024. Fifty-one percent of those shoppers got in touch with a mortgage broker.

Mortgage brokers were deemed to be the Most Valuable Person (MVP) in the homebuying process by 24% of purchasers. Real estate agents were the MVPs for 30% of respondents.

Technology appears to be getting it greatest use at the beginning and the end of the homebuying process. Up to 85% of shoppers used websites to compare mortgage rates or calculate payments. At the end, when all the questions have been answered and the concerns have been addressed, many homebuyers are making greater use of remote signature services and apps to deal with "cumbersome" legal and real estate paperwork.

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