Ottawa Real Estate 2026 Outlook: Market Insights & Buying Strategies

Join Ottawa real estate professionals Greg and Luka as they break down the biggest challenges of 2025 and share their predictions for 2026. This honest, no-BS conversation covers what's actually happening in the Ottawa market versus what you're hearing in the media.

In this episode, we discuss:

1. Why 2025 was harder than expected and the obstacles agents faced getting deals closed
2. The feedback problem: why agents aren't leaving showing feedback (and why they should)
3. How buyer power is shifting in Ottawa's balanced market
4. The gap between listing prices and actual sale prices
5. Why some townhomes and condos are seeing significant price drops
6. Interest rate impacts and what spring 2026 might look like
7. The myth of waiting for the "perfect moment" to buy
8. Why listing now might be better than waiting for spring
9. 
   

Greg and Luka share real examples from recent deals, including a bank sale that sold $50,000 under asking and how one family found their perfect home by trusting their gut. They also tackle the challenge of navigating media narratives versus on-the-ground reality, and why established agents are seeing renewed trust from clients.

Timestamps:

[0:14] 2025 Challenges & Market Obstacles

[11:18] Client Success Stories

[14:10] Buyer Preparation & Due Diligence

[20:38] Market Shifts & Pricing Realities

[22:13] Deals That Fell Apart & Lessons Learned

[30:38] Future of Housing & Economic Outlook

[35:37] Building Trust in the Digital World

[40:39] Empathy & Communication in Real Estate

[51:49] The Myth of the Perfect Moment

[53:41] Final Thoughts for 2026

Whether you're thinking about buying, selling, or just want to understand where Ottawa's market is headed, this episode gives you the straight goods on what to expect in 2026.

Window of opportunity for 2026. You go. There you go. I'm in a funny mood today, everyone. You can expect silly jokes or to make Luka very angry and say the opposite of what I say.

Yes. One of us needs to be positive today.

That's right. We got a few things to talk about today. We know this is the first point here. The biggest challenges we overcame in 2025. 2025 was very interesting for everybody. Every year is interesting for everybody, but I found that this year was a bit more challenges than, or just different challenge, different obstacles.

Yeah, I would say different obstacles in terms of just trying to get a lot of deals to the finish line was not as easy. A lot of deals falling apart. And a lot more work in the back end of things to get things to run to the same level of smoothness that we come to expect.

That's a very very good way of putting it. Amount of primarily on the listing side, I guess you could say, of conversations, more calls, more time, more energy way up last year terms of properties for sale.

Yeah, I would say so. I think it's very common though in a balanced market because the listings are gonna sit longer. It's generally going to cost more money to upkeep a listing, continue to promote it. Not even just from a dollar standpoint, but from a time investment, additional open houses.

More calls trying to get more feedback in a slower market for whatever reason, agents in general are just not leaving feedback on listings even more so than when the market is busy, I find, which is hilarious because when the entire market's slower, you're not showing as many properties usually.

You have time to do it.

And you have more time in between showings to be able to do that type of stuff. So you have to chase people for feedback, which is a little bit annoying. But, we can tell our clients the facts of the market and everything else, but until they start hearing it from different sources, via other agents' feedback, or people that come through the open house, it's sometimes hard for them to grasp what we are telling them at times.

So getting this type of feedback and providing it to other agents, is a very important aspect of our job where, it helps us and it also helps our colleagues. Our clients.

Quick little tip for agents and I'm also guilty of not doing this all the time. I try to, but it doesn't always work out that way. When you're out on showings and the time is a little bit and you're not as busy, if you can find, 10 minutes when you're done all your showings, just sit in your car and just respond to all the feedback by text. You get notified right away as soon as you're done the showing. So at the end of the day, sit there and just get it done and just make it part of your workflow. 'Cause by the time you get home, you're probably gonna forget. And then when you get nudged, you just seem to be bothered and you don't want to do it, then you just leave it.

It's always better to just get it done.

Yeah. Especially at the tail end of the year when there's Christmas, and a lot of other things going on with regards to family life. So getting things done right away in general is a great piece of advice for anybody in any walk of life, we say.

Feedback. Give the feedback. It's always appreciated. What else can we talk about with this year? Bigger challenges. This goes into one of the other things we're gonna talk about, so much information out there. It becomes a challenge for us because no matter how established you are as a realtor, as a professional, there comes that time when the media is absorbing all the attention of the client or the consumer. So a lot of the times our advice will just get against the media.

Yeah, a lot. A lot of the time what we see is very different to what's actually reported on the news, and it's definitely an uphill battle, right? Because everybody kind of has their own specific ideas and perceptions of the way things are, the way the market is. And if those perceptions line up to what they're seeing in the media, and then we tell them the opposite.

There's almost like a, hey, like, why are you guys saying that when all we're hearing is the opposite? Right? It can be difficult to navigate certain conversations if people have those perceptions. For sure.

Yeah, I found that that was a bit of a challenge for next year. I don't know where it's gonna go. It just, it seems to feel like a lot of consumers are putting their trust back into the agents, though I don't know. I've seen, just from the conversations I've had or what I'm seeing, a lot of established agents are pretty motivated about the natural organic feel of the business. Not everybody, but some.

I think our business is in a great space now with having a balanced market. There's not too much power inequality between buyers and sellers, but it definitely is starting to shift to the buyers. I'm seeing some of my clients putting in offers and then, get countered pretty aggressively, and then they're just like we're just gonna move on and go for something else.

Because it seems like these people are not willing to budge far off of their asking price. And then you'll get a call back from the agent being like, oh, that was just our first counter. And it's like if you're listed at 800 and you counter us back at 795 or 797, we're gonna assume that there isn't very much room there and we're just gonna move on to something else rather than wasting everybody's time.

And sometimes people play hardball in the beginning and then, they ease up a bit. But, buyers are in a situation where they don't have to deal with that so they can just move on to the next property, offer something else, and see if somebody's willing to play ball. I've done that with a few clients over the last couple of weeks and, if somebody comes 10 or 15K off their asking price right away, I'm like, okay we can likely get this to where our goal price was from the beginning, and we'll work towards that.

But if somebody counters back very aggressively on the first shot, we got other things to offer on. So you just move on unless you really love the property.

Yeah. They say that there's John Flynn on X, some other agents I follow, they say the same thing. It's like just the amount of negotiations that are not happening, whether it's the buyer or the seller, you know, someone's just like, no, that's it for me. And then that offer's gone. Yeah, I don't know what it's gonna be like next year for stuff like that.

We're still Ottawa, so it's a little bit different than some of the tougher markets, but everyone just wants to get things done. Buyers and sellers getting things done together.

Yeah, I mean, that's ultimately the goal, right? Somebody has a property up for sale, they wanna sell it, buyers wanna buy it. But seems to be a relatively large gap between what properties are listed at currently and what they actually end up selling. And, we've talked about this over the last couple of weeks as well, but trying versus doing right.

Time and time again. We've had clients that want to list higher than what their property is worth to test out the market. Get a huge influx of showings. If you're lucky in this market, within the first day to 10 to 14 days, and then it drastically drops off and then you know, to have any chance of selling the property, you're likely gonna have to start doing some price drops up until it gets sold every two to three weeks.

This is very true. I saw a condo townhome this week $20,000 price reduction since it was listed in September. Unfinished basement, decent neighborhood, houses in decent shape. And then I saw another one similar in another neighborhood that was bank sale listed at the same price, and then it sold for 50,000 less. So it hit 285. That kind of shook the whole community there, but I think we're gonna see more of that.

Not great for the comparables of the other people.

And then it says well, it was an outlier, it was a bank sale. They had to let it go. They wanted to get their money before the year end. Sure. That's part of it, obviously, and you can pitch it like that. But still, I think we're gonna see more of that, the stack, the older stack towns and the older, just townhomes without garages. Condos in certain communities. I think we're gonna start seeing more 299s which is amazing for buyers.

Yeah, I think what's happening is overall, I think positive for Canadians with prices coming down. Obviously sucks for people that bought, but if you bought and you're not planning on speculating on the market and you're planning on being in the house for a while, I mean, you're gonna make money on your house regardless. Look at any client that bought 10 years ago they've more than doubled their equity in their home. So if you're willing to hang on to your investment, I mean, it's bound to go up, right?

Like people panicked with the 2008 recession, 2012 and different economic times in our life. And those of us who are old enough to remember it, I guess, know that we're always gonna bounce back. Real estate is always a safe bet. It's not a short term investment anymore. It's not like buying a lottery ticket or buying a stock that, that's gonna skyrocket within a year. It's a long term investment. Always has been and always will be. And as long as you're okay with that, you're gonna come out ahead.

That's exactly it. I mean, the other thing too is like, buyers are in a position where it's not so competitive. So you can actually go and negotiate a bit and not just get into a bidding war situation where you're overpaying because you really want the house and you have some FOMO. Now, if there's a house you really love, you put an offer in and you can ask for closing cost credits and all these kinds of things that you wouldn't be able to get away with in a seller's market.

The one thing, though, is that trying to get certain closing cost credits, maybe not even closing cost credits, maybe just upgrades in general, or fix certain things with the home, is getting a little bit harder than it used to be. Especially when compared to 2023 and like early 2024. Because sellers are getting a lot more stubborn and I think a lot of the low hanging fruit has been picked already.

So the sellers that are selling now genuinely don't necessarily have to sell. So they're just like, well, if I get a decent enough price on my house, I'll sell. But if I don't, I'm just gonna pull the listing and just, you know, deal with it at some other time. So that's where we're at right now. It's a bit of a weird market because it's not like there's a huge exodus of people that need to sell or that are forced to sell. It's more so just people that, would like to upgrade or downsize if the opportunity kind of presents itself.

I agree. I think those days are gone. Like I think there's a lot of those opportunities have passed. I think the next wave of opportunities are gonna be, I mean, potentially this spring. But I see so much inventory around and if it doesn't sell now and they wanna re-list again in the spring, it just gonna be, I don't know, it's gonna be interesting to see. I don't think you're gonna get as good of a deal then as you would now, I believe.

I completely agree with that. I think the advice that I've given to clients that are looking to list is, first of all, make sure that if you are listing, you're priced to sell within the first couple of weeks. Because I think just sitting on the market is not a good look for any listing. And if you're not willing to be aggressive enough with your pricing, you're just gonna have a bad time and you're gonna be making price reductions.

And I think just in general, the advice that I've given people is like, if you're gonna list now, list now and actually sell, or wait a year, give it a year or so and then try it again. But I don't think listing in the springtime when there's so much inventory that will be available, it's gonna do you any favors. So a lot of people that are listing kind of in January, February, early March are gonna be doing themselves a massive disservice if they're not priced correctly.

Yeah. And I think that kind of explains how there's how many listings are out there right now, which is kind of unprecedented for this time of year. You know, we're in the second week of January and normally in January we have what, half of what we currently have out there. So it's double almost double. And a lot of those that are listed now from the fall, I think there's probably a good 300 to 400 listings that are still on the market from the fall season. So those are gonna have to compete with the ones that are coming on now.

Yeah, exactly. And I think what's gonna happen is, just based on conversations with different agents, is I think a lot of people are gonna be listing in late February, early March, getting ready for the spring market. And those are gonna have to compete with all the inventory that's currently out. So I think those that can actually bring good product to market are gonna sell. And I think the ones that are a little bit tired or have too much work or are not priced correctly are gonna have a really tough time.

Yeah, agreed. One thing we don't even know how the rate cuts are gonna affect everybody yet. Like we're seeing some of the fallout from it, but I don't know if we're in like the early stages of like more buyers coming back or maybe it's not affecting them at all. I don't know. It's very hard to tell because the rate cuts have happened, but then the bond yields have gone up. So it's all over the place. So I don't know what's gonna be the net effect of all of it.

Yeah, it's tough to say. I think a big part of it right now is just the job market, right? A lot of people are nervous about their jobs and their career prospects, whether they're gonna stay in Ottawa or whether they're gonna be moving to different parts of Canada or different departments. And I think until that settles out, which I'm hoping will settle out in the first part of the year, I think that's when we're gonna see a bit more activity. But I do think overall, as we get into the summer months and as we get towards the fall, I think we're gonna be in a very similar position to where we are right now in terms of inventory levels and demand.

Agreed. Okay, so to touch on rates and different things within the industry, we wanna talk about predictions for 2026, what's out there. We have rate forecasts, political changes that might impact, mortgage rules. We also have certain things that have changed in terms of amortizations and down payment requirements and things like that. So we'll talk about some of those changes and how they might affect buyers and sellers in 2026.

Yeah, so with the rate cuts, I think the Bank of Canada is projected to continue cutting rates throughout 2026. Most economists are predicting somewhere between two to four more cuts this year. So that could bring the overnight rate down to somewhere around 2.5% to 3% by the end of the year, which would be significant. And that would bring mortgage rates down quite a bit. So I think we're gonna see more buyers qualifying for mortgages and being able to afford more expensive homes.

That's definitely gonna help. But I think the big question is, with prices where they're at right now, and with inventory being so high, are we gonna see prices stabilize or are we gonna see them continue to come down a bit? Because if rates go down and inventory stays high, it might not have as big of an impact on prices as people think. It might just mean more people can afford to buy at current prices rather than prices going up significantly.

Yeah, I agree with that. I think the other thing too is like, with the political landscape changing and potentially having a change in federal government, there could be some policy changes around housing. Whether that's incentives for first-time buyers, changes to capital gains rules, or other measures to try to stimulate the market or make housing more affordable. So that's something to keep an eye on. But ultimately, I think Ottawa is gonna remain relatively stable compared to other markets.

Ottawa always has been stable. That's one of the best things about our market. We don't see the massive swings that you see in places like Toronto or Vancouver. We're a government town, we have a diverse economy, and we have a lot of stable employment. So even when things get rocky elsewhere, Ottawa tends to weather the storm pretty well. I think 2026 is gonna be more of the same - a balanced market with opportunities for both buyers and sellers if they play their cards right.

Absolutely. And I think the key for both buyers and sellers is just being realistic about the market conditions. For sellers, that means pricing correctly from the start and not trying to chase the market down with price reductions. For buyers, it means being prepared to move quickly when you find the right property, but also knowing that you have more negotiating power than you've had in years. So take advantage of that, do your due diligence, and don't be afraid to walk away if the deal doesn't make sense.

Yeah, and I think another big thing for 2026 is gonna be the mortgage stress test. We've been hearing rumblings about potential changes to that, whether they're gonna ease it up a bit to help more people qualify. That could be significant if it happens. But who knows if that'll actually come to fruition. It's been talked about for a while now and nothing's really changed yet. So we'll see what happens with that.

Yeah, the stress test has definitely made it tougher for a lot of buyers to qualify, especially first-time buyers. So any relief there would be welcome. But at the same time, it's there for a reason - to make sure people don't overextend themselves. So it's a balancing act. You want to make housing accessible, but you also don't want people getting into mortgages they can't afford, especially with the uncertainty around jobs and the economy.

For sure. And I think that's gonna be one of the big themes of 2026 - balancing accessibility with financial responsibility. We've seen what happens when people overextend themselves, and it's not pretty. So whether it's the stress test, down payment requirements, or amortization periods, any changes need to be thoughtful and designed to help people succeed in homeownership, not just get them into houses they can't really afford.

Absolutely. Okay, so let's talk about some of the specific changes that have already happened. One of the big ones is the extension of amortization periods for first-time buyers. So now, if you're a first-time buyer purchasing a newly built home, you can qualify for a 30-year amortization instead of 25. That helps lower your monthly payments, which can make a big difference in terms of affordability.

Yeah, and they've also increased the price cap for insured mortgages from $1 million to $1.5 million. So that opens up more properties for people who are putting down less than 20%. Before, if you were buying a place over a million, you had to have at least 20% down. Now you can put down less on properties up to $1.5 million. That's gonna help a lot of buyers, especially in more expensive markets.

Yeah, although in Ottawa, that's not as big of an impact because we don't have as many properties over a million dollars. But for people looking at higher-end homes or in certain neighborhoods, it could make a difference. And I think overall, these changes are positive. They're trying to make it easier for people to get into the market without being completely reckless about it.

For sure. And I think the key message for buyers in 2026 is that there are opportunities out there. Rates are coming down, there are programs to help you qualify, and you have more negotiating power than you've had in years. So if you've been sitting on the sidelines waiting for the perfect moment, 2026 might be your year to jump in. Just make sure you're working with someone who knows the market and can help you navigate all these changes.

Yeah, and for sellers, the message is similar - there are buyers out there, but you need to be realistic about pricing and presentation. The days of just throwing a house on the market and having it sell in a weekend for over asking are gone, at least for now. So work with your agent, price it right, make it look good, and be prepared to negotiate. If you do those things, you'll be successful.

Absolutely. Okay, so let's shift gears a bit and talk about some of the softer aspects of real estate. One thing I've been thinking about a lot lately is the psychological side of buying and selling. Like, we can talk about rates and policies and market conditions all day, but at the end of the day, real estate is an emotional purchase. People are making decisions based on fear, excitement, FOMO, all of these emotions.

Yeah, for sure. And I think that's where having a good agent really makes a difference. Because we can help people see past the emotion and make rational decisions based on the actual market data and their personal financial situation. Like, we've all had clients who fall in love with a house and want to overpay for it, or clients who are so scared of making the wrong decision that they miss out on great opportunities.

Exactly. And I think in 2026, with all the noise out there from the media and social media and everyone having an opinion, it's gonna be even more important to have someone in your corner who can cut through the BS and give you straight advice. Because there's so much misinformation and fear-mongering out there, and it can really mess with people's heads and prevent them from making good decisions.

Yeah, and I think that's one of the biggest challenges we face as agents now - combating all the misinformation. Like, we can tell someone what's happening in the market based on real data and our experience, but then they read something online or hear something on the news that contradicts it, and they don't know who to believe. It's frustrating because we're literally in the market every day seeing what's happening, but the media narrative can be so powerful.

For sure. And I think that's why building trust with clients is so important. Like, if they trust you and they've seen that you have their best interests at heart, they're more likely to listen to your advice even when it goes against what they're hearing elsewhere. But that trust takes time to build. You can't just expect someone to trust you immediately, especially with such a big financial decision.

Absolutely. And I think that's where consistency comes in. Like, showing up for your clients, following up, being responsive, providing value even when they're not actively buying or selling. All of those things build trust over time. And then when they are ready to make a move, you're the one they call because they know you're gonna take care of them.

Yeah, and I think that's gonna be even more important in 2026 with all the uncertainty out there. People are gonna want to work with someone they trust, someone who's been around for a while and has proven themselves. So if you're an agent listening to this, focus on building those relationships. Don't just chase the quick commission. Play the long game and it'll pay off.

For sure. Okay, so let's talk about some specific strategies for buyers in 2026. What should people be thinking about if they're looking to buy this year? Obviously, getting pre-approved is step one. You need to know what you can afford before you start looking. But beyond that, what are some things buyers should be doing?

I think the big thing is being prepared to move quickly when you find the right property. Even though it's a buyer's market, good properties still sell relatively quickly. So if you find something you love, don't overthink it. Put an offer in. You can always negotiate, you can always walk away if the inspection reveals issues. But if you wait too long, someone else might swoop in.

Yeah, and I think the other thing is being strategic about your offers. Like, don't lowball just because you can. Make an offer that's fair based on the comparables and the condition of the property. Because if you come in too low, the seller might not even counter, and then you've lost your chance. But at the same time, don't be afraid to negotiate and ask for things like closing cost credits or repairs.

Absolutely. And I think buyers should also be thinking about the long term. Like, yes, you might be able to get a good deal right now, but make sure it's a property that's gonna work for you for at least the next five to seven years. Because transaction costs are high, and you don't want to be selling again in a year or two. So think about your life plans, your family situation, your job, all of those things.

Yeah, and I think that goes back to not just buying because it's a good deal, but buying because it's the right fit for you. Like, we've all seen people buy properties that were great on paper but didn't actually work for their lifestyle. And then they're unhappy and they end up selling at a loss. So make sure you're buying for the right reasons, not just because you feel pressure to get into the market.

For sure. And I think the other big thing for buyers is to do your homework. Like, research the neighborhood, look at the comparables, get a good home inspection, understand what you're getting into. Don't just rely on your agent to do everything. Be an active participant in the process. Because at the end of the day, it's your money and your home, so you need to make sure you're comfortable with the decision.

Absolutely. Okay, so let's flip the script and talk about sellers. What should sellers be thinking about in 2026? Obviously, pricing is huge. We've talked about that a lot. But what else should sellers be doing to set themselves up for success?

I think the big thing is presentation. Like, your house needs to look good. That means decluttering, deep cleaning, making any necessary repairs, maybe doing some staging. Because buyers have options right now, and if your house doesn't show well, they're just gonna move on to the next one. So invest the time and money upfront to make your house shine.

Yeah, and I think professional photography is a must. Like, most buyers are looking online first, so if your photos don't grab their attention, they're not gonna book a showing. So invest in good photos, maybe even a video tour or a 3D walkthrough. Anything you can do to make your listing stand out is worth it.

Absolutely. And I think sellers also need to be realistic about feedback. Like, if you're getting consistent feedback that your price is too high or that the house needs work, listen to that. Don't just dismiss it as buyers being cheap or picky. Because that feedback is telling you something about how the market perceives your property. And if you want to sell, you need to address those concerns.

Yeah, and I think sellers also need to be flexible. Like, if a buyer asks for a closing cost credit or wants you to fix something, be willing to negotiate. Because losing a sale over a few thousand dollars is just silly when you're selling a property worth hundreds of thousands. So don't let your ego get in the way of a good deal.

For sure. And I think the other thing is timing. Like, if you don't have to sell right now, maybe wait until later in the year when inventory hopefully clears up a bit and there's less competition. But if you do need to sell, then commit to it and do it right. Don't half-ass it and then wonder why your house isn't selling.

Yeah, and I think that's where having a good agent really matters. Because a good agent is gonna tell you the truth even when it's not what you want to hear. They're gonna push you to price correctly, to make repairs, to be flexible. And that might be uncomfortable, but it's what you need to hear if you want to sell.

Absolutely. Okay, so let's talk about some of the trends we're seeing in terms of what buyers are looking for. Like, what kinds of properties are in demand right now? What features are people prioritizing?

I think one of the biggest things is move-in ready properties. Like, buyers don't want to deal with a ton of work right now. They want something they can move into and start enjoying right away. So if your house needs a lot of updates, you're either gonna have to do them yourself or price accordingly.

Yeah, and I think energy efficiency is becoming more important too. Like, people are paying attention to things like insulation, windows, heating systems. Because with energy costs going up, buyers want to know that they're not gonna be spending a fortune on utilities. So if your house is energy efficient, make sure you're highlighting that.

For sure. And I think outdoor space is still really important. Like, COVID really changed the way people think about their homes, and having a yard or a balcony or some kind of outdoor space is a big selling point. So if you have that, make sure it looks good and that you're showcasing it in your listing.

Yeah, and I think home offices are still in demand too. Like, with remote work and hybrid work still being common, people want a dedicated space to work from home. So if you have a spare bedroom or a den or something that could work as an office, make sure you're staging it that way and showing how versatile the space is.

Absolutely. And I think the other big thing is storage. Like, people always need more storage, whether it's closets or a garage or a basement. So if your house has good storage, make sure that's clear in the listing. And if you don't have great storage, maybe add some organizational systems to make it better.

Yeah, and I think location is always gonna be important. Like, people want to be near good schools, near transit, near amenities. So if your house checks those boxes, make sure you're emphasizing that. And if it doesn't, then you need to focus on the other selling points of the property.

For sure. Okay, so let's talk about some of the neighborhoods in Ottawa that we think are gonna be hot in 2026. Where do you think buyers should be looking?

I think Barrhaven is always gonna be popular, especially for families. It's got great amenities, good schools, and it's relatively affordable compared to some of the other suburbs. So I think we're gonna continue to see strong demand there.

Yeah, and I think Kanata is another one to watch. Like, it's got a lot of tech companies in the area, so there's always demand from people working in that sector. And it's got good infrastructure and amenities. So I think Kanata is gonna remain strong.

For sure. And I think Orleans is interesting too. Like, it's more affordable than some of the other suburbs, and it's growing. So I think there are opportunities there for buyers who are willing to go a bit further out.

Yeah, and I think some of the more central neighborhoods like Westboro and the Glebe are always gonna be in demand. Like, they're more expensive, but they've got that walkable, urban lifestyle that a lot of people want. So if you can afford it, those are great neighborhoods to consider.

Absolutely. And I think Hintonburg and Little Italy are still up and coming. Like, they've got that cool, artsy vibe, and they're becoming more popular with younger buyers. So I think we're gonna see continued growth and appreciation in those areas.

Yeah, and I think Old Ottawa South is another one to watch. It's got great schools, it's close to downtown, and it's got that established neighborhood feel. So I think it's gonna remain strong in 2026.

For sure. Okay, so let's talk about some of the challenges that both buyers and sellers might face in 2026. What are some things people should be prepared for?

I think one of the biggest challenges for buyers is gonna be navigating all the information out there. Like, there's so much noise from the media, from social media, from friends and family. And everyone's got an opinion on what's gonna happen with the market. So buyers need to tune out the noise and focus on what makes sense for their personal situation.

Yeah, and I think the other challenge for buyers is gonna be finding properties that meet all their criteria. Like, with inventory being high, there are options, but finding that perfect house is still gonna take time and patience. So buyers need to be prepared for that and not get discouraged if they don't find something right away.

For sure. And I think for sellers, the biggest challenge is gonna be managing expectations. Like, a lot of sellers remember what the market was like in 2021 and 2022, and they're expecting the same thing now. But the reality is different. So sellers need to adjust their expectations and be realistic about what their house is worth in today's market.

Yeah, and I think the other challenge for sellers is gonna be standing out in a crowded market. Like, with so much inventory, you need to do something to make your listing stand out. Whether that's pricing, presentation, marketing, whatever. You can't just list your house and expect it to sell itself.

Absolutely. And I think both buyers and sellers need to be prepared for a longer process than they might expect. Like, it's not uncommon for houses to sit on the market for a few weeks or even months, and for buyers to look at dozens of properties before finding the right one. So patience is key for everyone.

For sure. Okay, so let's talk about some success stories. Like, what are some examples of clients who have had great outcomes in the current market?

Well, I had a client recently who was able to get a great deal on a townhouse in Barrhaven. Like, they put in an offer that was about $25,000 under asking, and the seller accepted it. And the house was in great shape, move-in ready. So they're thrilled. And that's the kind of opportunity that's available right now if you're a smart buyer.

Yeah, and I've had sellers who have had success too, even in this market. Like, I had a client who listed their house in December, which is typically a slow time. But we priced it right, staged it well, and had great photos. And we had an offer within two weeks that was very close to asking. So it can be done if you do it right.

For sure. And I think the key in both those cases was being realistic and strategic. Like, the buyer didn't lowball, they made a fair offer based on the comparables. And the seller didn't overprice, they listened to the market data and priced accordingly. So when both sides are reasonable, deals get done.

Absolutely. And I think that's the big takeaway for 2026. Like, there are opportunities for both buyers and sellers, but you need to be smart about it. Don't let emotion or ego get in the way. Listen to your agent, look at the data, and make decisions based on reality, not on what you hope will happen.

Yeah, and I think the other big thing is to be flexible. Like, maybe the house you buy isn't perfect, but it checks most of your boxes and it's in your budget. Or maybe you don't get your asking price, but you get a fair offer that lets you move on with your plans. Being willing to compromise is key to making deals happen.

For sure. Okay, so let's talk about some of the tools and resources that buyers and sellers should be using. Like, what can help people make better decisions?

I think working with a good mortgage broker is huge. Like, they can help you understand what you can afford, what your options are, and they can shop around for the best rates. So don't just go to your bank, talk to a broker and see what they can do for you.

Yeah, and I think getting a good home inspector is critical too. Like, don't skip the inspection to save a few hundred bucks. You need to know what you're getting into with a property. And a good inspector can identify issues that might not be obvious to the untrained eye.

Absolutely. And I think doing your own research is important too. Like, look at sold prices in the neighborhood, check out the schools, drive around at different times of day to see what the area is like. The more information you have, the better decision you can make.

Yeah, and I think using online tools like MLS listings and market reports can be helpful. But don't rely on them exclusively. Like, those tools can give you a general sense of the market, but they don't tell the whole story. So use them as a starting point, but work with an agent who can provide context and local knowledge.

For sure. And I think for sellers, working with a good stager or interior designer can be worth the investment. Like, if your house isn't showing well, spending a few thousand dollars on staging could be the difference between selling and not selling. So don't be cheap about it.

Yeah, and I think good marketing is crucial too. Like, your agent should be doing professional photos, maybe a video tour, posting on social media, doing email blasts to their network. All of those things help get your listing in front of more eyeballs, which increases your chances of selling.

Absolutely. Okay, so let's talk about some common mistakes that buyers and sellers make. What are some things people should avoid?

I think for buyers, one of the biggest mistakes is getting emotional and overpaying. Like, you fall in love with a house and you throw out the budget and the comparables and you just make whatever offer it takes to get it. And then you end up underwater or house poor. So keep your emotions in check and stick to your budget.

Yeah, and I think another mistake buyers make is skipping the inspection or waiving conditions to make their offer more attractive. Like, that might work in a really competitive market, but right now you don't need to do that. So protect yourself and make sure you're getting what you think you're getting.

For sure. And I think for sellers, the biggest mistake is overpricing. Like, we've talked about this a lot, but it's so important. If you overprice, you're gonna sit on the market, you're gonna get stale, and you're gonna end up selling for less than you would have if you'd priced correctly from the start.

Yeah, and I think another mistake sellers make is not preparing their house properly. Like, trying to sell a house that's cluttered or dirty or needs obvious repairs. That's just gonna turn buyers off. So invest the time and effort to make your house look its best.

Absolutely. And I think both buyers and sellers make the mistake of not listening to their agent. Like, your agent has experience and knowledge, so when they give you advice, take it seriously. You don't have to do everything they say, but at least consider it and understand their reasoning.

For sure. Okay, so let's talk about the role of social media and online information in real estate. Like, how should people be using these resources?

I think social media can be great for getting ideas and seeing what's out there. Like, following real estate pages, looking at listings, getting inspiration for home design and staging. That's all good. But you need to be careful about taking advice from randos on the internet who don't know your situation or your market.

Yeah, and I think there's a lot of misinformation out there, especially on social media. Like, people posting about how the market is gonna crash or how now is the worst time to buy. And that might get a lot of engagement, but it's not necessarily accurate or helpful. So take everything with a grain of salt and verify information with trusted sources.

For sure. And I think the other thing is that social media is very broad and general. Like, advice that applies to Toronto or Vancouver might not apply to Ottawa. So you need to understand your local market and not just follow generic advice.

Absolutely. And I think online reviews and testimonials can be helpful when choosing an agent. Like, see what other people are saying about their experience. But also meet with the agent yourself and make sure they're a good fit for you. Because what works for someone else might not work for you.

Yeah, and I think using online tools to research neighborhoods and schools and amenities is great. But also go visit the area in person and get a feel for it. Because what you see online might not match reality. So do your homework both online and offline.

For sure. Okay, so let's talk about the importance of relationships in real estate. Like, why does it matter to work with someone you trust?

I think real estate is such a personal and high-stakes transaction that you really need to be working with someone you trust and who has your best interests at heart. Like, you're making one of the biggest financial decisions of your life, so you need to know that your agent is looking out for you and not just trying to make a quick commission.

Yeah, and I think trust is built over time through consistent actions. Like, showing up when you say you will, being responsive, providing honest advice even when it's not what the client wants to hear. Those are the things that build trust. And once you have that trust, clients are more likely to listen to your advice and work with you again in the future.

For sure. And I think the other thing is that real estate is a relationship business. Like, most of our clients come from referrals or from people we've worked with before. So taking care of your clients and maintaining those relationships is key to long-term success.

Absolutely. And I think that's why follow-up is so important. Like, checking in with past clients, sending them market updates, just staying top of mind. Because when they're ready to buy or sell again, or when their friends or family need an agent, you want to be the first person they think of.

Yeah, and I think it's not just about staying top of mind for business purposes. Like, genuinely caring about your clients and wanting to help them succeed is important. And people can tell when you're being genuine versus when you're just trying to get their business.

For sure. And I think that's one of the things that separates good agents from great agents. Like, anyone can show a house and fill out paperwork. But the great agents are the ones who really care about their clients and who go above and beyond to make sure they have a great experience.

Absolutely. And I think at the end of the day, people do business with who they trust and who they know. And everybody else just goes off to the wayside. If you're not always top of mind for your clients, they'll go elsewhere.

People just forget, right? We're all human. We all do it. Like, we all forget about people sometimes. And if you have a hundred things going on in your life and you're going through certain things, it's very easy to forget or let certain things slip through the cracks. So it's important to stay on top of everything as much as you can.

Definitely. Okay, Greg? And to wrap things up here, the myth of the perfect moment. How "I'll wait until" quietly turned into lost years for some people.

The myth of the perfect moment. Yeah. The perfect moment is when you feel it inside your body, not when you think of the perfect moment. You gotta get over that because when you walk into a house and it just feels right, just go for it. No matter what it takes. I hate being in a situation where you're like, and too, as an agent, usually you'll know it's the right one depending where you're at. And some people think about it a little bit too much. So that's it. And then it turns into lost years for some people.

Yeah, I was shopping with some family not long ago and showed them a bunch of older houses that I knew would just not be a good fit. And then there was one that they sent me that they're like, we want to go see this one along with these other ones. I'm like, we should cancel all these other ones, but let's just go and see them. And surely enough, they walked into this one and they were just like, yeah, this is the one.

And like they were planning on buying months later and then just pulled the trigger. And yeah, this was one of the ones that the house hadn't been on the market for very long, and we got it for I think about 25,000 under asking or something along those lines. And so like they're very happy, they're very excited about the house, perfect house for them, like low maintenance. They don't have any kids yet. It will be a really great fit. And when I saw it, I was like, man, like I wanna live here.

So it's like one of those. And it was perfect for them as well. And I just knew that all of the other stuff would be headaches and things that they didn't wanna deal with. Both very busy working professionals. Yeah. Just going through the process, seeing all of these other houses and then seeing that one, it was very clear that this was the house for them. So they took action.

Yeah, they took action and it worked out perfectly. There was a bunch of other showings and stuff like that. We were the first ones in and who knows, maybe the sellers could have got more money, but, that old tale right, of an offer in hand is significantly better than an offer that's higher that may never come. Your first offer is your best offer. Yeah, keep that one in mind guys.

Final thoughts for 2025? Crazy year. I think for everybody. A lot of life changes for most people. Real Estate in Canada took a big hit. Ottawa stabilized, as usual, it's stable.

Yeah, I'd say Ottawa is always going to be stable. Always has been. So I think that's a really good thing about our market and I think the outlook for next year I think is gonna be a lot of the same. A lot of it's really gonna come down to, I think, interest rates and more so just the job market.

A lot of people are unsure if they're going to have jobs or if they're gonna have to switch careers or departments and things of that nature. But if all of that kind of gets resolved in the first part of the year, I do anticipate spring to be a little bit faster moving than it is right now. But I don't anticipate a huge change from now to the spring market specifically because there's just so much inventory that's out right now.

And if that doesn't clear up by the springtime, I think a lot of people are gonna be in a rude awakening that are waiting to list in the springtime rather than listing right away. And usually I would tell people to wait, but our advice to our clients in the past couple of months is I think you'll likely get a better price now, or very similar than you would in the springtime. And usually it's the opposite of that when you're listing in the winter time. So I think that'll be a pretty big adjustment.

And I think a lot of agents overall this year have gotten out of the business. Because it's been a slower and harder year for people. So those that are around are, I think, gonna be taking on significantly more listings next year if they're good at their jobs. If they're good at their jobs. Yeah. And if they treat it as a full-time job rather than a part-time gig.

Which we've seen a lot of part-time agents leaving the business because paying monthly insurance, monthly fees to your brokerage, licensing. It costs about six grand a year. Anything. Like with our everything, it's about six Gs to be an agent. Yeah. Okay. Any final thoughts for the year? I have no more final thoughts.