Working paper library

Can Autonomous AI Agents Discover the Fundamental Value of Real Estate? Evidence from Quebec Transactions and Multi-Agent Deliberation

Simon-Pierre Boucher · UQO Working Papers · October 2026 · v1.0

Committees of role-specialised language-model agents that debate before answering are increasingly proposed as valuation tools. This paper asks whether the debate adds information. In a preregistered experiment on 631,866 arm's-length residential sales registered in Quebec between 2021 and 2026, evaluated under a…

Does the Sales Comparison Approach Actually Work? A Large-Scale Point-in-Time Validation of Comparable Selection, Price Adjustments, and Value Reconciliation

Evidence from 391,000 Single-Family Transactions in Quebec, 2021–2026

Simon-Pierre Boucher · UQO Working Papers · October 2026 · v1.1

The sales comparison approach is the dominant method of residential valuation, yet its operating rules — how many comparables to use, how far and how far back to search, which adjustments to apply, how to weight and reconcile — rest largely on professional convention. This paper subjects these rules to a…