Let’s Talk About Women in Real Estate
This International Women’s Day, we’re celebrating all the women who are taking the real estate industry by storm.
An Industry Dominated By Women
About 64% of realtors are women, according to the National Association of Realtors. For older (60+) realtors, this number dips slightly to 58%. However, even among the previous generations, that number is still up there.
So, what brings so many women to real estate? One reason is the flexibility. Women can be running their own real estate business and also be mothers — coordinating, clients, family, and household without the traditional 9-5 terms, which is trickier with many jobs.
Another reason the real estate business attracts women? They can help people. Real estate agents have to meet with many people, from older couples looking to buy their third home to younger first time homebuyers. The nurturing instinct many women have, helps them connect with all types of people and empathize with their different plights. We’re not saying a male agent can’t do the same thing, they do — often with great success, but many buyers and sellers seem to respect the motherly instinct when making such significant life decisions.
Women real estate professionals also connect with another simple fact: more single women are buying homes than men (female buyers accounted for 19% of the homes purchased in 2020). Buying a home can be intimidating already, let alone on a single income, but perhaps women feel that another woman can simply understand their needs and concerns better.
‘Happy spouse, happy house’. According to several sources, when searching for homes as a couple, women make 91% of the home-buying decisions.
This thriving industry has come a long way. However, real estate used to be a male-dominated field. With restrictions on women’s positions, it made the glass ceiling hard to shatter. This was a driving force behind the formation of the Women’s Council of Realtors in 1938, which is going strong today.
Bettering the Real Estate Market
Don’t get us wrong — the pandemic hurt everyone. But the numbers don’t lie. Working women were hit harder by the pandemic. Women made up over 74% of the real estate workforce pre-pandemic, then fell to under 64% in April 2020, the peak of the lockdowns. As of August 2021, the number increased to 72%, but it’s still under what it was. So as we celebrate women, we also want to build them back up.
As women recover from the pandemic and re-enter (or enter for the first time) the real estate market, we need to clean house a bit. For one, the gender pay gap is still a problem. In 2022, for example, women sales agents and brokers made 69 cents for every 1 dollar a man earned. Not great. Plus, this gap can widen even further for women of color.
We’re dedicated to doing what we can to even the playing field. From paying women the money they deserve to helping them earn top-level positions, we know that the future of real estate is female.
Starting with our Founder/CEO, Tami Pardee, here is what some of the ladies in our work family had to say about being a woman in real estate:
My advice is to always be heart-forward when you are working with people in the real estate industry. Make sure to prioritize and nurture the emotional aspect of the process. Let your heart lead you and most importantly, love yourself!
Being a woman in real estate makes me so proud! Statistically there are more women realtors than men, so it’s empowering to know that I’m part of an industry that flourishes with my fellow sisters! Buying and selling a home is more emotional than most people think, plus a home is such a personal thing. Everyone has different wants and needs, but they all need someone they can trust. As women, I think we can understand those wants and needs pretty naturally and of course we want to protect and serve all of our clients during such a momentous decision and process. There will always be challenges, but as women we have to remember to step into our power to help guide and ease all the stressful parts of this experience for our clients, and never forget to sprinkle some fun in!
My advice to women in real estate is to listen and then trust your intuition.
It’s interesting to contemplate the Woman aspect of being in an industry. In the immortal words of Marianne Williamson during her Course of miracles workshop on Public Television, she said that ‘Women scrape and claw their way to the top to break through that Glass ceiling and once they break through, they become that man that they have always despised.’ WOW! That line always stuck with me. After being in business for over 40 years now, I don’t feel that way at least not any longer. There is plenty of room in business for both men and women to co-exist and work together.
Being a woman in any line of business always comes with a sense of caring that women inherently possess, and I feel that the caring aspect for your clients is the most important aspect of real estate. Real estate is much more than prepping and selling a house, It is all about taking extra good care of your clients to make sure all of their needs during the transaction are met. Working as a woman for a woman owned firm also reinforces the care and nurturing aspect of this business that woman exude on a natural basis.
This is not a 9-5 job and not for the faint of heart. It is long hours and many times I am up until late at night looking for properties and connecting with my clients. Real estate is demanding and often requires a great deal of personal sacrifice. I can’t tell you how many times I have not gone to the beach with my friends, or dinner parties etc.. because I had an open house or I was out showing clients properties that weekend. This is the name of the game, and you can’t let these things distract you. I feel that since I love what I do, it doesn’t really get to me! Hard work and perseverance play a big role in this career and it is very rewarding. Clients turn into friends and no sale is a transaction but it is a relationship.
There is a bright future ahead for women in real estate. For women who like to meet clients, to show properties, and to help people, real estate is a great industry to build a career.
I feel very proud and honored to be a part of Tami Pardee’s team. She is an amazing example of being a female leader in real estate. She incorporates a positive and loving message and reminds all of us to invest in self care and healing from within in order for us to be fully present in our personal life and with our clients.
Selling Real Estate is made for women. Of course men do it well too, but women excel in this industry because we have the biological motherly instinct that everyone knows, loves, and appreciates. This career also offers the flexibility for women to have children and still work without missing a beat, which is very rare. There is no glass ceiling for us in this industry. Simply put, it’s the best.
I am so grateful for the opportunities and flexible lifestyle real estate has given me. It’s one of the best careers to have as a Mom! Busy – of course – but with a strong village, there is a beautiful balance.
Happy International Women’s Day
Celebrating the achievements of women and looking to improve the systems in the future is not something we should do only today, but every day. This may sound sappy, but we wouldn’t be here if it weren’t for the strong women who make our company all that it is. So let’s revolutionize the industry for all clients and agents to usher in an even better tomorrow.