It is no secret that the market is currently adjusting to the aggressive interest rate hikes provided by the Bank of Canada. The whole purpose of increasing borrowing cost is to destroy the demand, and housing market is usually the first to react to such changes.

Since there are a lot less buyers on the market currently, the sellers are also waiting to put their properties for sale.

Working with buyers who want something specific during times like this proves a lot more challenging. Just because you are able to afford to buy a house, it doesn’t mean that the house that you are looking for is listed for sale. So it pays off being more productive in these conditions.

In the case of 15 Canton, my buyer had a very limited geographical area that he was looking in. Not only that, he wanted the house to be a bungalow, with a large lot, that backed out onto a ravine. Nothing like that had been listed for months, so I literally went door to door asking homeowners if they would sell their home to my buyer.

Being presistent pays off, I brokered a deal off market and now I have not only a happy buyer, but also a happy family that was able to sell their home in a slow market.