The history of women in real estate: Women haven’t always had the opportunities they have today in the real estate industry.
In 1910, Corrine Simpson became the first female NAR (NATIONAL ASSOCIATION OF REALTORS®) member. (Source: NAR) Her bravery and dedication to real estate paved the way for other women to start their real estate careers and become REALTORS® themselves. However, there weren’t that many women who followed in her footsteps for a long time. For decades many local NAR boards had gender restrictions. And even when those restrictions were lifted, many female REALTORS® took their roles on more of a part-time basis.
In the past, female real estate agents and other female real estate professionals typically would squeeze in their real estate duties somewhere between carpooling and cleaning the house. As a result, women were rarely in leadership roles in any industry, including real estate.
Let’s fast-forward to our present-day real estate industry. When it comes to leadership roles, women are still trailing behind men and have some catching up to do. Only about half of all working moms are employed full-time. (Source: PRB) Because of the part-time work that many working moms can only fit in, women struggle to establish higher salary roles.
However, the real estate industry is one of the industries that is beginning to recognize the importance of diversity and the value that women bring as professionals. Additionally, more women are placing their careers as one of their top priorities in life.
Women are gaining more power and leadership roles in the industry. The future looks promising for professional women in various real estate leadership positions. Let’s take a look at why we think women are the future of the real estate industry.
Women are making waves in real estate, and we are seeing an increase of women in leadership roles. However, while studying women’s roles in the real estate industry, we noticed that men still have the power.
Sadly, although 65% of All REALTORS® are women (Source: NAR), there is still gender bias in favor of men when examining the leadership roles in real estate and payscale.
Let’s look at some statistics in the commercial real estate sector as an example of female versus male bias. In the commercial real estate sector, fewer women aspire to work in commercial real estate than men, and they are making 23.3% less per year (on average) than their male counterparts. Women in this sector state that lack of mentorship is why they struggle with finding success in commercial real estate. (Source: CREW)
This strong example is just one of many examples of how women face bias in the real estate industry. As statistics show, women in real estate still face gender bias, but the gap between men and women steadily decreases.
While there is still a lack of support for women who pursue leadership roles, women have begun to gain more confidence in their abilities. In addition, they are receiving more support from modern cultural views that support women in the workforce.
Because of the increase of support that women have professionally, they are confident enough to have the drive to succeed and acquire leadership roles (as they should be). Now that women recognize that they are just as capable of having a career as men are, their goals have evolved.
To empower women, we must support women. Here are a few great career paths that are a great option for any woman who desires a leadership role in the real estate sector.
Real Estate Leadership Roles:
Agent - Becoming a real estate agent can be an empowering career for anyone who wants a leadership role. Real estate agents can work their way up with the proper experience and training and become real estate team leaders for the brokerage that they work for, or can even become a broker themselves. Of course, these roles require more training, but becoming a real estate agent opens the door to further opportunities. Becoming a real estate agent is a great way to get your foot in the door. Average Yearly Salary: $ 62,990 (Source: U.S. BUREAU OF LABOR STATISTICS)
Broker - Becoming a broker is an empowering career because it allows real estate professionals to open a brokerage and work for themselves and even hire agents to work for them. All you need is the confidence to succeed and the proper requirements, varying by state. Average Yearly Salary: $ 81,630 (Source: U.S. BUREAU OF LABOR STATISTICS)
Property Manager- A property manager will oversee the daily operations of a unit of real estate. This leadership role is great for anyone who wants to help a property owner manage their investments and can be a very empowering and rewarding career. Average Yearly Salary: $59,660 (Source: U.S. BUREAU OF LABOR STATISTICS )
Leasing Agent- A leasing agent is a kind of like a property manager, but they strictly work with a property owner by helping them lease their property to tenants. The day-to-day work can also include duties such as marketing, preparing the lease documents, screening potential tenants, etc. Another empowering career choice for women who want to establish themselves in the real estate sector. Average Yearly Salary: Around a similar pay scale as a property manager.
Marketing Specialist - Marketing is an exciting career field as it is always changing. Pursuing a career in marketing is a great choice for someone who likes new opportunities and a career that is always changing. There are always new trends and ideas in the marketing field. Average Yearly Salary: $141,490 (Source: U.S. BUREAU OF LABOR STATISTICS)
Developer- One of the most lucrative careers paths in real estate is a real estate developer. Real estate developers will buy property or partner with landowners. Then, they will put forward a plan for building or rebuilding on the property. The next step in a developer’s goal is typically to bring investor(s) and predict how much money the property will bring in. After they get investor(s), a real estate developer will then oversee the construction and then sell the project for a profit if it all goes well. Average Yearly Salary: $94,256 (Source: Ziprecuiter)
It’s no surprise that there is an increase in single female homeowners. Single women are about 5% more likely to own a home than their male counterparts. Additionally, about 9% of all owner-occupied homes are owned by single women. (Source: The Zebra)
Women are learning what was once considered male-dominated skills, such as doing their home repairs. Additionally, women are investing more in their future than ever. It is now more common for women to live independently and is encouraged more than a couple of decades ago. Goal-driven women will often desire a home of their own, one they can invest in for their future. As a women’s power and earning capacity continues to rise, so does the rate of single female homeownership. And we are all for it.
Women empower themselves by striving for leadership roles and investing in their future.
More women than ever are finding themselves in leadership roles. In addition, single women invest in their future by owning and maintaining their homes without worrying about finding a partner to help them.
Women have more choices than ever. The future looks promising for women.