Women in Real Estate

Women in Real Estate

What comes to mind when hearing the word real estate? Not woman, I know. We are still living in a society that claims to be changed yet we still are stereotypical approachers.
Looking around the globe, women have proved themselves successful not just in medicine, art, or science but also in corporate sectors.

Looking at the shining star, the richest woman of real estate Dottie Herman. She is a self-made woman who reached the top with her efforts and now is the CEO of Douglass Elliman. Not just her, but so many women out there are superwomen.

Cher says, “Women are real architects of society”.

The world usually underestimates a woman’s role, power, intelligence, and spark. They usually do not pay the importance of all the efforts women put in to make society better. For a woman, there is no day and night. She has to work for herself, her family, her home, and to overall contribution to society. Once, I heard someone say, “A woman is the only creature that can manage so many tasks together”.

If, she is doing so much then how is it possible that she isn’t successful in the real estate business? It’s said,

A woman is a maker

Maker of a house to a home, and now a maker of businesses and nations.

HISTORICAL BACKGROUND
Few industries are remaining these days that have not seen a momentous change in the role that women play. Historically, women are involved in the real estate business since 1794. Yet, properly real estate business was established in the 1840s. In the early days, women were in clerical departments and crammed workplaces, but after the eighties, women were getting into the position of an agent or a broker.

WOMEN IN REAL ESTATE
A few years back, we see that women were a lot less in the real estate business. But now more than 50% of realtors are women. Some are working full time, some part-time. They stand shoulder to shoulder with men today. There is a high percentage of women in residential real estate as compared to commercial. They still have to make an entry in commercial real estate. In the US 67% of realtors are a woman.

Is being in the real estate business good for girls?

Women are born with some inborn qualities that are needed in a real estate business. Those qualities can efficiently be utilized in the real estate business. Though the Real estate business is still tagged as “male domain” yet we need to change this tag. The real estate business needs qualified professionals that can take up the business to an unmatchable extent. They should hire professionals despite gender discrimination. Girls and women should be interviewed and hired. They have capabilities that men don’t have and that is exactly how both men and women can work together for one goal. Today Real Estate business around the globe is a leading business, also one of the biggest. Women would not regret joining it, as it’s one of those professions where you grow at a good pace.

Are women successful in real estate?
Yes! With the passage of time women have joined hands to work in real estate as well. Undoubtedly, it’s of women’s percentage is growing. In a few years, they are sitting in top positions, especially in the residential real estate business.

Why more women are in the Residential real estate business?
Women are more interested in residential real estate as it gives more flexible schedules, really good earnings also, it’s easier for them to manage before and after their marriage.

Doing something that you are passionate about.
Yes! So many girls and women out there want to work in the real estate business, but they face criticism on the tag that it is a “boys’ career”. Why? Women do not have dreams? They do not have skills? They do not have a brain? Just because of some people, you girls should not back away from pursuing your career. It is your right and choice to choose what is best for you.

How can women in real estate occupy executive-level positions?
The real estate business is not easy. It demands 24 hours of work, 7 days a week, and non-stop. You need a full-time commitment in this field to reach executive-level positions. This is challenging for women as they have families, and a home, yet if they really want to be successful and unbeatable then they should constantly be in this race and be ready to negotiate all the time.

What are the challenges faced by female executives in the real estate business?
Women in the real estate business have different challenges than men. Despite all the good things they do, the challenges they face are harder than the challenges men face. Women in the Real Estate business have to make many personal sacrifices. Such as weekends, sleep, hangouts, family time. No matter, a woman is single, married, or divorced she has to face unique challenges to attain success.

Pay Inequity : Men are paid more than women. The wage gap is pretty high. Also, seniority increases the wage gap for women.
Career Growth : Even if women produce more, work for more hours, they are usually on C-level. There are limited career opportunities for women.
Balanced Life : They constantly have to face remarks as, “she doesn’t give much time to her family”, or “she demands parental leaves”. She no matter what has to make her family as well as her boss happy. Surviving among male brokerages is not an easy job.
Safety             : Yes! As told earlier, the real estate business is to work 24 hours a day. Late-night shifts, family and neighborhood pressure, also male clients make women uncomfortable most of the time. Women need to take extra precautions for their safety.

Adaptable to Technological trends.
Yes! The real estate business demands flexibility in adapting new technological trends from both women and men. But, Women are considered to be more adaptable than men. Hence, they will discover, adapt, and learn new things faster than men.

Advantages of having women in the Real Estate
Females in real estate will help a lot by attracting female clients. As women understand each other better. It is more likely for a woman with experience of 15+ years to understand what a woman of different age wishes about her home.

TODAY, 2022

Today, women are showing more interest in the real estate business. It’s because the approach has changed, the world has evolved. Women turn houses into homes, yet so many are deprived to choose the house they want. The initial process of acquiring the house should not be just a man’s duty. Both man and woman should be given this leverage to choose their house.

With time this industry is getting easier for women, Slowly, they are reaching the point where they know what it means to have women in their different departments.

CEOs and team leaders should strive to empower their female staff, they should always be there to boost them up. Helping your team irrespective of gender will benefit you in ways you might not even know.

We, sapphire builders and associates, work together as one family.

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