As the business ecosystem evolves globally, it is increasingly incorporating a gender perspective. The real estate sector is no exception, actively embracing changes to create an inclusive environment. Since the mid-1800s, women have joined the workforce, rapidly transitioning into roles as agents and brokers.

 

Women's representation is dominant worldwide, with a significant presence in leadership positions. However, women's representation in the commercial real estate sector is still relatively low, at only 64% (Wedin, 2021).

 

Despite this, women have surpassed men in almost all facets of the real estate industry, with high revenue and the opportunity to become solo entrepreneurs making the sector an attractive career option for women. In the US and Australia, female agents make up 67% and 48% of the real estate industry, respectively (Jonsson, 2022).

 

The proliferation of women's participation in the industry has led to a paradigm shift in real estate sales techniques. While the formerly assertive and dominant male style worked in the past, clients now seek a more empathic female style when discussing deals. Additionally, market research indicates that clients are more comfortable discussing property deals with females than males.

 

The Gamut of Professional Opportunities

 

Increasingly, firms are recognizing the benefits of diversity in the concept of the "she-economy," which refers to the expanding female purchaser's market. As a result, the number of female property buyers has increased from 70 to 80%, and companies are slowly encouraging more women to take on executive roles. Traditional barriers are being broken, and more opportunities for women in leading positions are being created.

 

The real estate sector provides a vast arena for individuals to boost their skills and develop new ones. Real estate advisors can communicate with a wide array of people, whether owners, developers, or customers, which boosts their confidence and provides various opportunities that help accelerate the learning curve.

 

Most women today begin their careers in entry and administrative positions in the real estate sector but quickly climb the corporate ladder with hard work and talent. According to a study by Deloitte, 46% of companies deliberately focus on diversity, including different genders, races, etc., when hiring candidates for leadership and development roles.

 

For example, in the commercial real estate industry in the UK, females hold about 30% of senior leadership positions, while there is a significant gender pay gap of 27% between men and women. Developing countries face even more challenges due to low female labor force participation and policies that do not support women's advancement.

 

Nevertheless, there is hope for improvement as the industry becomes more structured. The government has implemented regulations such as RERA, and advancements in technology are improving working conditions. Other factors are also changing with new developments.

 

Benefits of Hiring Women

 

Better Decision making

 

According to Larson (2017), teams composed of diverse individuals are 87% more effective at decision-making due to their broader perspectives, diverse skill sets, and enhanced creativity. Additionally, these teams are capable of reaching conclusions faster than their non-diverse counterparts.

 

Better Talent Retention

 

According to a report by Deloitte (2020), companies with inclusive and welcoming workplace cultures experience a 22% reduction in turnover rates and improved talent retention. A diverse workforce can also boost employee morale, resulting in higher levels of commitment and engagement, which in turn reduces hiring costs.

 

Greater Productivity and Profitability

 

According to Hunt et al. (2015), businesses that embrace diversity can enhance their comparative advantage and returns. Specifically, companies that promote racial and ethnic diversity are 35% more likely to surpass their competitors, while those with executive teams that are gender-diverse have a 21% higher chance of profitability compared to their counterparts.

 

Improved Reputation and Employer Brand

 

Businesses that prioritize diversity in their workplace culture tend to attract highly skilled individuals. A survey shows that 47% of millennials actively look for companies that promote diversity when job hunting. Moreover, a diverse work environment has a positive impact on your reputation among customers, clients, and employees.

 

Healthier, More Engaged Employees

 

Around 83% of millennials feel more engaged when working in a diverse and inclusive culture (Smith & Turner, 2020). Workers who feel supported, engaged and included at the workplace make healthier decisions and have a great sense of well-being, decreasing time lost to sickness and increasing productivity. 

 

Women In Real Estate Sector

 

The real estate industry has traditionally been viewed as a male-dominated field, with limited opportunities for women. However, in recent decades, there has been a significant shift in the business landscape, including the real estate sector, resulting in the inclusion and expansion of female representation.

 

Today, women are increasingly involved in property-related decisions for their families, with around 30% of women leading such decisions and approximately 50% being joint decision-makers with other family members. Additionally, women are actively participating in the real estate sector, as indicated by the NAR report of 2017, which states that 56% of licensed brokers, 63% of full-time sales agents, and 69% of part-time sales agents in the real estate workforce are women (Sancheti, 2018).

 

Recognizing the value that women bring to the table, many large real estate developers, lending institutions, and private equity firms now have multiple women in senior executive roles. Women are known to possess traits such as multi-tasking ability, empathy, insight, and assertiveness, which have

added a new dimension to the sector and contributed to increased efficiency, organization, and customer trust.

 

The real estate industry is highly competitive, with significant profit margins and revenues. Professionalism and women's participation have brought more sensitivity, intuition, and emotional intelligence to the sector, making it more efficient, organized, and trustworthy for potential buyers and customers.

 

Thus, women have emerged as rising stars in the real estate sector, leveraging their distinct multitasking skills to bring greater success to the business.

 

Conclusion

 

Real estate is one of the industries that has been male-dominated since time immemorial. However, the industry has witnessed increased women’s participation over multiple years and in various spheres. It is known that including women in any field tends to increase diversity in the environment as they are enriched with amiable and creative senses.