Understand the Landscape: Facts You Should Know
- Sales are stalling – CREA reports that national home sales are expected to match 2024’s count (~482,673 units), with prices down around 3.7% YoY and average Ontario home values dropping ~2 – 3% this spring. . In Toronto, spring listings have seen 66% sell below list price. .
- Buyer power is increasing – Inventory is growing while demand softens. CREA notes a sales-to-listings ratio near 45% – a buyers’ market .
- Interest rates remain high – Elevated borrowing costs are cooling the market and emphasizing price negotiations.
What this means for you: Embrace a buyer-favored market. Position yourself as a capable navigator, not just a transaction facilitator.
Be the Market Sage: Demonstrate Your Expertise
Case in point: Sara Kalke, a realtor who weathered past downturns, advises continuous economic learning. She says:
“Bad markets are phenomenal opportunities for great agents… Be knowledgeable about economics… When people asked me what was going on, I could give them the big picture” .
How to replicate this:
• Share real-time stats: “66% of Toronto homes sold under list in April” builds credibility.
• Offer local forecasts: “Hamilton remains balanced; GTA softening.”
• Distinguish market segments: Highlight opportunities in mid-sized cities like Hamilton, K-W, and London that outperform Toronto. .
3. Deepen Client Relationships: More Service, Less Sales Pitch
Meredith Kennedy from Millbrook, ON emphasizes:
“Clients need honest and trustworthy realtors who… guide them with knowledge, expertise and patience” .
Best practices:
• Pre-listing inspections: Provide transparency and build trust. .
• Client-centric communication: Regular check-ins, not just pitches.
• Educate, don’t sell: Explain market dynamics and craft strategies aligned with client needs.
4. Negotiate with Confidence: Real Ontario Examples
• Price reduction amendments: Toronto agent David Fleming handled a deal where a seller insisted on full commission despite a $100K reduction – a negotiation skill in action. . Your takeaway: Be flexible and ethical in high-stakes negotiations.
• Deposit dilemmas: In Barrie, a buyer withdrew over driveway encroachment – and ended up in a legal battle over a $45K deposit. . Lessons: Always advocate for clean title and clear communication to avoid fallout.
5. Innovate with Tech & Service
Ontario proptech is booming. Luc Hartwick of MoveSnap says:
“Proptech… help professionals… level up their business to make it through those humps more easily – but human experience is at the center” .
How to elevate your service:
• Offer virtual tours, digital staging, and moving concierge services.
• Use AI-driven market tools to suggest deals and data-backed insights.
6. Health, Hustle & Habits: Avoid the “Fear Turtle”
Sara Kalke warns against inertia in slow markets:
“A lot of agents pulled their marketing… Instead, exceptional client service wins the day” .
Your roadmap to consistency:
• Maintain a proactive client outreach schedule.
• Keep your marketing visible and relevant.
