The president of the Calgary Real Estate Board has taken the reigns, as of Wednesday, and says he’s enthusiastic about bringing his experience to the governing body of the Calgary Real Estate Board (CREB®).

Ed Jensen brings with him nearly three decades of experience in the real estate industry—as a REALTOR®, broker and a certified instructor.

“I just love people. I came into the real estate business to work with people, and found out very quickly that I get this satisfaction from helping people. Part of that is helping them find their homes, and buy their new home when it meets their family needs,” Jensen said.

Aside from sharing his experience gained from the industry, including serving two separate terms as a director for CREB®, Jensen’s plans for 2008 include leading the board of directors into a new era, he says.

Jensen recalls that when he started in the business in 1979, it was just before the advent of computers, and listings were kept manually on 4-inch by 6-inch cards.

Today, the business is much different.

“We’re on the cusp of going completely electronic with transactions. It’s a much more open and convenient platform to do business on. Paper is just like blackboards. One day it’ll be gone,” he said.

He says while he feels this is where the industry is going, the idea still has to be developed, and in the meantime, he will focus on leading the board of directors in strategic planning and governance for the year.

“I see my role as president is to lead a team of elected real estate professionals, called the board of directors, whose mandate is to govern and develop policies for our members and decide what services we should be providing at the board for our members. And those services need to be an extension of what our members are providing to their clients.”

When asked what’s in the cards for this year for the industry as a whole, the key word in the answer is “balanced market.”

“Two thousand and seven was a great year, and 2008 is going to be another great year and a year of opportunity,” he said.

In the last quarter of 2007, the market turned to a buyer’s market; the inventory supply increased to a high of 10,455 listings in the fall and then dropped to 7,325 listings by year end; a 30% decrease in inventory.

Not only statistics, but related economic indicators, such as employment, interest rates and net migration, have to be examined to determine what will happen in real estate this year.

Canada Mortgage and Housing Corporation forecasts net migration growth will drop by approximately 30% this year, contributing to the market returning to previous levels.

Jensen says we also have to look at basic indicators, such as supply and demand.

“The Province’s fiscal policies are good and strong and that all of the above, lead us to the fact that we will have a good ’08. It will be a good marketplace suitable for both buyers and sellers,” he says, adding that there will be less speculative buying, which is good for everyone involved.

“I believe the first part of the 2008 market will show listings and sales reflecting a bit of a rollercoaster ride, with listing inventory going up and down and the same with sales until we work through the last of the crazy market from 2007.”

As for prices in 2008, Jensen said he is comfortable forecasting that the Metro average sale price for single family homes will increase by 5% and that Condominium sale values should increase by 6% in 2008.

CREB statistics indicate a single family home sold for an average of $472,230 in 2007 and the average sale price of a condo sold for $316,370.

When asked, what advice would you give buyers, sellers and REALTORS® for 2008, he said: “Today our clients need us more than ever before. The buying and selling of real estate is more complicated than ever. We need to be sharp to protect our clients, future buyers and sellers are looking to REALTORS® for perspective and solutions.”

Jensen started his career in sales with LePage Melton Real Estate. He then moved and spent a number of years with the RE/MAX organization and later became the broker and owner of HomeLife Realty Advisors. He is currently the operating principal and chief executive officer of Keller Williams Realty South.

The outgoing president is Ron Stanners.

—Angela Anderson is the Calgary Real Estate News Assistant Editor.