What Changed Inside the File
"Each transaction required a lot more legal advice," Adam says, reflecting on a year shaped by buyer opportunity, seller strain, and growing complexity behind every file. The condominium market increasingly felt like a buyer's market, especially for first-time buyers. While that created opportunity in the industry, it also introduced risk. Buyers needed clearer explanations and more careful review to make informed decisions. On the seller side, interest rates and broader economic pressure contributed to more power of sale transactions and situations where sale proceeds were insufficient to satisfy secured lenders and creditors. The pre-construction market had its own challenges. Final closings and occupancies sometimes collided with falling values or higher occupancy fees, leading to difficult conversations around assignments and the possibility of default.Key Takeaways from 2025
- Professional judgment mattered more than volume
- Each transaction required deeper legal advice
- Buyer opportunity came with increased risk requiring clearer explanations
- Seller strain led to more power of sale transactions
Efficiency as the Baseline
When Adam began articling more than a decade ago, in-person closings were non-negotiable. Today, virtual meetings, digital identity verification, electronic signing, and wire transfers are simply how the work gets done. Clients no longer expect to take time off work to attend an in-office signing or pick up keys. Closings are faster, smoother, and easier from the client's perspective. While this shift has been overwhelmingly positive, it has also permanently reset expectations. Efficiency is now a baseline, not a differentiator. Clients want fast, substantive responses.In the pace of communication and work, the expectation has picked up.— Adam Richardson
Technology That Actually Helps
In this high-expectation environment, technology earns its place only when it meaningfully reduces complexity. Tools or features that add steps undermine the very efficiency they promise, no matter how advanced they appear. Adam points to lender revisions as an example of a simple scenario where technology improves the process. What once required clients to return to the office for re-signing can now be resolved quickly through secure electronic workflows. Reliability is Adam's top priority when evaluating technology tools. "In this kind of work, you need systems you can rely on," he says. Integration and interoperability — systems that speak to other systems — come next. "When you're opening the same file in five different platforms, it's redundant and costly."Technology Priorities for Real Estate Firms
- Reliability first: Systems you can depend on daily
- Integration: Platforms that communicate seamlessly
- Reduced complexity: Tools that eliminate steps, not add them
- Responsible AI: Supporting judgment, not replacing it