Corinne Lyall, President of CREB
Corinne Lyall, President of CREB
By John Lidenbach
Alan Tennant, CEO of the Calgary Real Board introduced Corinne Lyall, our speaker and CREB’s president. Corinne is the 12th female president and also the youngest person to hold the post.
Corinne took time to tell us about CREB’s charitable foundation and their realtor volunteers who have donated $5M to-date through low cost housing initiatives, brown bag lunches for kids, the Poppy fund, etc, etc. They were also named Ronald MacDonald House’ Philanthropist of the Year! Their annual charity golf tournament raised $250K this year....and they are supporters of our Stay in School golf tournament too (plus a COG sponsor).
Naturally we wanted to hear about CREB’s opinion of our current economic situation as it applies to the real estate market. Corinne told us that the market has a different feel from 2009 in that there is still a lot of market interest from buyers e.g. open houses, but the buying decisiveness is declining (folks concerned about layoffs and/or also waiting for a price decline). History has also shown that it can take up to two years for a significant change in energy prices to reflect change in house prices. Changes in net migration have had a more immediate impact.
Sales levels in January were 35% lower than the 10 year average so it is a buyer’s market and selection is much improved. Those wishing or needing to sell must ensure properties are realistically priced. This is a great time for first time buyers and the market in the properties for first time buyers continues to be the most active....spurred by the lowest available mortgage rates in living memory.
Corinne then discussed the new MLS system “Matrix” which has recently been introduced to CREB’s 5200 realtors. It’s a learning process but is receiving accolades on the information that is provided.
As Corinne’s Dad told her, “Selling starts when the customer says no”. Good advice for us all and a lesson that each downturn continues to teach us!
Maxine Morrison, one of our fireball “service above self” volunteers....who also happens to be a realtor, thanked Corinne with a donation in her name to CAWST.
Corrine Lyall, Preident of CREB