WOMEN IN REAL ESTATE

Men may have dominated the real estate market in the past, but the future belongs to women. Women have long been a part of the real estate market, generally in more administrative jobs, but beginning in the early 1900s, an increasing number of women began to work as brokers and agents. Today, accomplished women in real estate make up the majority of the sector, and many are rising to positions of leadership across the country.

Women are succeeding in a variety of fields, including real estate. Women are not only catching up quickly, but they are also breaking norms. Women's economic contributions have increased dramatically during the last decade. Amazingly, women are among the fastest-growing consumer groups. While the business of real estate development has long been dominated by men. Today's woman, on the other hand, wants to build her own money and expand her financial horizon. Overcoming the stereotype that Indian real estate is dominated by men. Women have carved out a place for themselves in this fast-paced industry that is always in demand.

Smaller players fail to follow new laws and regulations for both residential and commercial projects. This could lead to a merger or acquisition by corporate developers. Being a woman in the real estate sector may give you an edge. Client relationships are honed to a considerable extent when a woman's DNA contains attributes of persistence. Another quality that women tend to bring to the workplace is a more balanced and impartial perspective.

Women have made their presence felt in Indian real estate in a variety of roles, including as agents, developers, architects, and marketing directors. Inclusive workplace culture is one of the key factors contributing to the growing number of women in the profession. Where both men and women are given equal opportunities to accomplish.  

Current trends illustrate how influential women are in the sector, as well as where there is space for improvement. Continue reading to learn about six real estate and women trends.

• WOMEN ARE TAKING CHARGE OF THE REAL ESTATE INDUSTRY.

Women now make up the bulk of the industry, accounting for 67 percent of all realtors. When compared to the male-dominated real estate business of the twentieth century, this increase is a significant victory for women. A typical realtor nowadays is an 80-year-old woman who owns a home and has a college diploma. Although there is a lot of female representation in the industry, there is still space for development.

• FEMALE HOME OWNERSHIP IS ON THE RISE.

Single women are 5 percent more likely than single men to own a home, indicating that homeownership is on the rise for them. In addition, the same study discovered that single women own more than twice as many homes as single men in every major American metropolis. Because single females are the most common category of homeowners, women realtors may have a distinct edge with this population due to the possibility of shared experiences and opinions.

• MORE WOMEN NEED TO BE REPRESENTED IN CRE.

 Even though women now dominate the real estate business as a whole, they only account for 36.7 percent of the commercial real estate workforce, a figure that hasn't altered considerably in the last 15 years. This trend illustrates an area where more women of varied backgrounds can have an effect, even though commercial real estate is still dominated by men.

• THERE’S STILL A HUGE PAY DISPARITY BETWEEN MEN & WOMEN.

 Most businesses, including real estate and commercial real estate, have a pay difference between men and women, which is a sad truth. For the same employment in 2021, women brokers and sales agents will earn 69 cents for every dollar earned by men. At the managerial level in real estate, the margin has shrunk to 92 cents on the dollar.

According to CREW Network research, the income difference between men and women in commercial real estate is around 10% or 90 cents to a man's dollar, but the most surprising discrepancy is nearly 56 percent for bonuses and commissions. Overall, these figures show that there is still a long way to go in terms of achieving pay equality for women.

• WOMEN ARE MAKING ADVANCES IN THEIR PROFESSIONS.

Even though women make up the majority of real estate executives, this is not always the case. Women now hold only 9% of C-level roles in commercial real estate, according to a survey, although roughly 32% of female realtors want to work in the C-suite. In the last five years, the number of women aspiring to executive positions has increased by 4%.

CONCLUSION:

Women, on average, are better at managing work and family responsibilities, and hence are better at multitasking, which is an important skill in real estate due to the nature of the industry. Women can provide a unique combination of compassion, confidence, focus, and dedication to diverse parts of the business. Women who are qualified and educated are better equipped to balance the business and give the necessary complementarity.

 Nonetheless, the growing visibility of women in leadership posts has cultivated the art of managing work and family life, which in turn is assisting and motivating the younger, highly ambitious women. As the industry grows, we need to see more women in leadership positions across the board, including in real estate development and consulting. Let us embrace the spirit of women on this International Women's Day.