Women’s empowerment has brought significant shifts in each walk of life. Gone are the days when women were expected to confine themselves to raising children and running households. With a newfound sense of identity and purpose, they are breaking through the glass ceiling and excelling in professions that were once considered male-dominated.
Moreover, the sense of acknowledgment has made them combat every new challenge they encounter in various fields, and real estate is no exception. As per the latest NAR (National Association of Realtors) data, 63% of women are full-time real estate agents bringing new perspectives, investing huge assets, and advancing the field to new heights.
Although women realtors have bright futures, they are still inclined to face certain barriers to acquiring leadership roles in real estate sectors. This article enlists recurring challenges for women in real estate and the benefits of paving a way into this lucrative market in the long run. So, let’s dig it out together.
History of Women in Real Estate
Undoubtedly, women have always been dynamic in making their mark and carving out new paths in the industry. However, they have had to contend with unfriendly workforces that hindered their progress. The National Association of Realtors (NAR) was instrumental in keeping women out of the industry despite 30,000 women in real estate working as brokers nationally.
In 1910, Corrine Simpson won the rank of the first female (NAR) member. Her remarkable debut paved the way for many to follow in her footsteps and grow their career as real estate investors. However, gender discrimination, low payrolls, and diminished opportunities were some of the reasons that kept them from scaling high. This led to the formation of (The Women’s Council of Realtors in 1938), a parallel organization to confront gender inequality.
The impact of the initiative has been truly remarkable, with an overwhelming response from organizations that are empowering women and breaking down gender stereotypes in the field of real estate. The number of entries has been inspiring and growing more, impacting the next generation of women to thrive in the diverse real estate landscape.
Challenges Faced by Women in Real Estate
Despite making significant strides in recent years, women in the real estate industry still need to overcome many challenges that hinder their way to success. Some of the most prominent issues are as follows:
1. Pay Inequality
Pay inequality is one of women’s most pervasive challenges in the real estate industry, leading to discouragement and frustration among female professionals. Despite having similar qualifications and experience, women often receive 29.3 % lower salaries than their male counterparts. This kind of wage discrepancy undermines their hard work and achievements resulting in more career switches.
2. Gender Disparity
In the real estate industry, gender bias and discrimination are inevitable for women, who are often subjected to limited representation in a male-dominated workspace.
Regardless of making up a significant majority of real estate agents, with a staggering 67% representation, only 32% of broker-owners are women, which represents extreme unfairness. Additionally, antiquated work culture and deep-rooted prejudices create obstacles for females, making it difficult for them to skyrocket their career abilities.
3. Career Advancement
It’s a heartbreaking reality that women in the real estate industry often face challenges in advancing their careers because men tend to have more power in the industry. Even if women are successful and skilled, they may not be given the same opportunities to become top leaders, like CEOs or CFOs, as men are.
Also, women brokers and agents may initially advance faster than males when starting their careers. However, their progress often comes to a screeching halt as they reach a specific age limit.
4. Personal Safety
Personal safety is a significant concern for women in real estate, as they often encounter situations that compromise their physical and emotional well-being. As they frequently work alone and interact with strangers, women real estate agents and brokers are more vulnerable to harassment, violence, and other safety risks.
Instances of personal safety breaches are all too common in the industry, with women reporting cases of stalking, persecution, and assaults.
Advantages of Investing in Real Estate as a Women
Investing in real estate can provide numerous benefits that can empower women, such as:
1. Financial Independence
Real estate can provide women with a valuable source of passive income and help them achieve financial independence.
2. Wealth Creation
Building wealth with real estate is no longer a secret that people opt for. With the rising value of assets, women can invest or work in the industry to make huge bucks.
3. Tax Benefits
Real estate investors can also take advantage of tax deductions for expenses such as property taxes, mortgage interest, and repairs.
4. Legacy Building
Investing in real estate can provide a way for women to create a lasting legacy for themselves and their families, as properties can be passed down to future generations.
An Opportunity to Unlock Your Potential and Build a Thriving Real Estate Career
Hence, women in real estate have come a long way by breaking the shackles of patriarchy and growing with marketing trends. However, we must recognize that many individuals in our community are still struggling to achieve financial freedom, secure a stable income, and make meaningful investments.
In the same vein, established women entrepreneurs require a reliable framework to maximize their real estate businesses, manage their finances, and generate substantial revenues.
So, if you need help excelling in your career and deepening your roots in the areas of real estate, business, and finance, GW5 is a must-attend event for you.
What is GW5?
GW5 is a 3-day implementation conference organized by Generational Wealth Zone brands. In this conference, speaker Dr. Teresa (business and investment consultant) and Coach William Moore (a certified credit counselor and strategist) will shed light on mastering your assets and shaping your business.
The GW5 conference aims to gather real estate investors, realtors, women entrepreneurs, and working professionals from all occupations to help sustain females in their careers.
This incredible conference is coming with the following juicy benefits:
- Valuable insights into real estate marketing and investment strategies.
- Utilization of tools and opportunities
- Unique business perspectives and ideologies.
- Chance to collaborate with like-minded women and a solid support network.
- Hacks to get considerable ROI with reduced risks.
- Great action plan to expand your business.
So, what are you waiting for? Register now and get on the mission of building the wealth and success you deserve!
