From an interview with BNN Bloomberg:

 Mary Saleh, a Vancouver-based realtor, is feeling the pressure of growing competition in the city's slowing housing market.

Mary Saleh, an 18-year veteran realtor currently with RE/MAX also feels the pressure of growing competition.

“A lot of buyers or investors have lost faith,” she said in a phone interview. “Affordability is one thing but financing is the bigger issue.”

Saleh is referring to the B-20 guideline implemented by the Office of the Superintendent of Financial Institutions (OSFI) in early 2018. The rule imposed new stress tests for uninsured mortgages, where the borrower makes a down payment of at least 20 per cent on the purchase of a home.

“I don’t understand what the government is trying to gain here,” she said.

Despite her extended use of social media to build clientele, Saleh’s doing something she’s never done before – knocking on doors in her Vancouver neighborhood of Commercial Drive.

Saleh says she’s also now receiving invitations from developers with a chance to win a Louis Vuitton handbag or a Rolex watch. Wiens also said he’s experienced developers trying to woo potential buyers with fancy events and free booze.

Mary Saleh
Personal Real Estate Corporation (PREC)

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