LATEST NEWS

Are Women Equally Represented In Commercial Real Estate? Survey Says: No

While residential real estate is largely run by women, commercial real estate is still a man’s world.

By Team Agorafy September 6, 2016

It’s no secret that the commercial real estate business isn’t exactly flooded with women. Commercial real estate tends to be more of a boys’ club, while residential real estate is dubbed woman-friendly. All manner of broad and sweeping generalizations come to mind as to why this stereotype might have come to be. But is this archaic idea changing with the times?

Related: Buchman Townhouse Overdrive: How Jessica Buchman Became Park Slope’s Top Seller For The Last Decade

With the possibility that the US will have its first woman president, these gender stereotypes are changing—but not without a struggle.  As it is with elections, it might be considered unwise to neglect half the population. This is true with the commercial real estate industry as well where women are desperately under-represented and under-appreciated as a force with which to be reckoned.

download-32According to Commercial Real Estate Women’s (CREW) most recent Benchmark Study Report: Women in Commercial Real Estate, women are more satisfied and feel more equal to their male counterparts in the workplace than they did a decade ago. It found more women are holding partner and managerial positions, as well as titles of directors and senior vice presidents within the industry. CREW Network CEO Gail S. Ayers says, “We are encouraged by the positive results of this research and the overall satisfaction of women in commercial real estate, but change is not coming fast enough.”

Last year, only 45 percent of commercial real estate positions were held by women. Adelaide Polsinelli, senior managing director at Eastern Consolidated has 30 years of experience as one of New York City’s most high profile real estate brokers. She says, “When I started, it was unusual to see women in the commercial end of the real estate world. It was hard in those days to be taken as seriously as the men in the industry. It has taken me 30 years to become an overnight sensation.”

Maybe commercial real estate isn’t evolving as quickly for women as some would like, but at least it seems to be moving forward, albeit incrementally. According to Arin Reeves,president of consulting firm Nextions, the lack of a female presence in commercial real estate is a perfect storm of no one admitting there’s a problem, along with an unconscious bias and women not speaking up for raises and promotions they are due. Ms. Reeves says, “… in meetings a woman would recommend something and literally a guy would recommend it 10 minutes later, and people would tell him what a great idea even though it’s exactly what she said 10 minutes ago.”

download-33

So how can companies and women themselves help change the way they’re perceived in the commercial real estate business? The solution is also multifaceted: encouraging women to not under-value their contributions, to self-advocate, and to not be afraid to compete are all ways to level the playing field of a male dominated industry. Companies can start to train staff to be aware of possible unconscious bias, as well as implement executive mentoring programs so women can share their experience and strength that can lead to promotions. These steps may help bridge the gap of gender parity and create a ‘win/win’: helping women perform to their maximum in the workplace, while simultaneously making the entire company more successful.

 

Team Agorafy

ABOUT THE AUTHOR Team Agorafy

ABOUT THE AUTHOR Team Agorafy

Our mission is to be the most accurate resource for commercial listings, residential listings, and property information, allowing users to make highly-informed decisions based on current market data.

  • AGORAFY
    Avocado toasts are the reason why millennials can’t afford a home, says one Australian real estate developer. #AvocadoToast #Millennials https://goo.gl/TBCPnv
  • AGORAFY
    Five years on since Superstorm Sandy, Queens’ coastal peninsula is in the midst of a development boom. #Development #Rockaways https://goo.gl/BRKRrD
  • AGORAFY
    It turns out, renters can’t get enough of good ol’ no-doorman-no-frills apartments. Too bad developers aren’t building any. #Doorman #LuxuryRentals https://goo.gl/pdnbo6
The Housing Market In Shenzhen, The Silicon Valley of China, Slows In 2017
The city of Shenzhen has been on the real estate radar for quite some time. It is known as the Silicon Valley of China. Many…
Developers Jump Aboard The Trend To Revamp Transit Hubs And Remake Cities
Never has the often used marketing term, “close to transportation” been more important when attracting home buyers. These days it’s not just homes that are…
Millennials Are Fueling The Current Sizzling Real Estate Market
Ever wondered why the hosts of home improvement shows seem to be getting progressively younger, along with the fresh-faced couples getting their new properties made…
The Best Cities For Recent Grads To Rent – Without Blowing Their Entire Paycheck
What’s next post graduation? For most, the logical answer is to find a job. After the excitement of finishing your studies and the big celebration,…
Luxury Knows No Limit In Malaysia As A Deluge Of New Developments Hit The Market
The amount of newly constructed high-end real estate in Malaysia is almost as abundant as the lush vegetation which covers the tropical landscape. Despite vacant…
Don’t Call It A Commune – Upscale Co-Living Is Attracting Major Development
What may have once been referred to as a commune is today termed a co-living space. The big news that it’s not hippies with hemp…
It’s Official—New York Is Now The Most Expensive City In The World To Build
As if you didn’t already know, it’s expensive to build in New York City. Not just expensive but now officially the most expensive place in…
An Ultimate Destination For The Most Comprehensive Real Estate Data, Agorafy Prepares To Launch Nationwide
In the coming days, Agorafy will be entering a new chapter. It is the beginning of a new growth cycle in real estate technology with…

TOP 10