The real estate sector is gradually seeing a significant shift towards gender equality, with women now making up over 48% of all agents. Gone are the days of assertive, male-dominated sales techniques as clients are seeking the more emphatic approach of female agents.
Real estate firms are beginning to recognize the critical role women play, and more female realtors are getting employed. This positive transformation in the historically male-dominated sector is paving the way for a more inclusive and diverse future.
This article discusses the essential facts about female realtors and the challenges and opportunities of women in real estate. You'll also find a list of the most successful female real estate investors.
5 Essential Facts About Ladies of Real Estate
Is real estate male-dominated? What's the percentage of male vs female real estate agents? Here are some facts to help you answer these questions about female agents and more.
1. Females Represent 64% of Real Estate Professionals
Over the last few decades, females have become increasingly prominent in real estate. As long as prejudice continues in related professions, this trend is likely to continue in the coming years.
2. There's More Pay Inequality in Commercial Real Estate
Unlike residential agents who receive equal pay due to commission-based structures, females working in commercial real estate earn 30% less than their male counterparts in terms of salary and bonuses. The residential sub-sector offers a level playing field, where individuals are rewarded based on their performance.
3. 56% of NAR Brokers Are Women
Ladies are taking on larger roles and attaining broker status, though the equality battle is still on. While there's been a 20% increase in the number of female brokers in NAR in the last two decades, only 41% of brokers with more than 20 years of experience are females.
4. Single Ladies Represent The Second Largest Demography of Home Buyers
According to a survey by NAR, 17% of homebuyers are single ladies. This trend is a positive indication of a real estate sector with increased demand and potential buyers, as women continue to take leadership roles in society.
5. The Women's Council of REALTORS (WCR) Was Established Due to Gender Restrictions
The Women's Council of REALTORS (WCR) was established after other associations placed gender restrictions on women. Although most of these associations dropped the restrictions several years after, the council keeps existing and thriving to this day.
Challenges of Women in the Real Estate Industry
The residential real estate sector is dominated by 64% of women. However, the reverse is the case for CRE. According to a 2019 MIPIM report, CRE (Commercial Real Estate) is historically dominated by males, and the sector hasn't made enough moves to boost gender parity. In the US, men represent 65% of the commercial real estate workforce, and this disparity is similar in other countries.
It's true that commercial real estate doesn't have a good track record of fair treatment of ladies in real estate. There have been reports from ladies who have had a myriad of experiences in real estate, ranging from a wide pay gap to discrimination and harassment. According to recent research by CREW Network, females still earn less than males. In 2020, there was a 10.2% salary gap between both genders, and the bonus and commission gap was an astounding 55.9%. The gap is even wider for Asian, Hispanic, and Black ladies.
Opportunities Still Abound
In 2019, the CRE sector, including both existing and new office, retail, warehouse, and industrial properties, represented 5% ($1.14 trillion) of the United States GDP with 9.2 million jobs. Since women make up about 50% of the US workforce and just 35% of the commercial real estate workforce, there are outsized opportunities for female realtors to participate. As the sector progresses towards gender parity, more women will be hired into relevant roles.
The vast variety of roles within the sector provides opportunities for ladies of real estate to participate across several disciplines including banking, construction, accounting, engineering, architecture, operations, technology, law, brokerage, etc. Each real estate career comes with different skills, including relationship building, science, and creativity.
In 2021, the US GDP saw a 4.5% rebound, and CRE's recovery will be more apparent in the coming years.
Participation in the real estate market recovery is financially beneficial, both through wealth accumulation opportunities (long-term) and compensation (short-term). The long-term benefits include potential ownership of a portion of a portfolio or building (direct real estate investment), stock options from publicly traded companies, and profit-sharing benefits for employees.
How to Succeed as Women in Real Estate
Find a real estate company that not only makes promises but also follows through on them. It's important to examine their real estate investment performance, business plan, and commitments to equity, social justice, inclusion (DEI), and diversity.
Check their website to know what they're communicating to their investors and clients. Ensure that their messaging aligns with your priorities and values. Talk to others about the real estate company they admire. Conduct thorough research and gather information about the company under consideration.
Advocate for Yourself
Commercial real estate firms that are aware of the industry's dislocation are making changes by restructuring job roles, modifying recruitment strategies, and creating a more inclusive culture to attract a diverse workforce. Female real estate agents can seize this opportunity by being proactive and demonstrating their value by expressing their plans and goals, and how they align with the organization's objectives.
To fully contribute to the success of your firm as a real estate agent woman, it's important to confidently assert yourself and speak up when you have something to share. Remember that you're at the discussion table because your unique life experience, talent, and knowledge are highly valued. Don't hesitate to share your comments, questions, or ideas with the team.
Build a Network
Surrounding yourself with people who support your progress is crucial for both your personal life and professional career. It's important to build a network of mentors, friends, colleagues, sponsors, peers, and experts who can provide relevant information, feedback, and guidance. See your network as an ecosystem that requires nurturing and engagement to grow and maintain.
To strengthen your real estate network, evaluate your current ones and identify areas that require modification or expansion. Consider joining a real estate association that allows you to learn from others, develop your leadership skills, and participate in a team or committee.
Cultivate both sponsor and mentor relationships. Mentors are more experienced individuals willing to provide wisdom and support for your success. Sponsors, on the other hand, are leaders who can advocate for your career advancement opportunities. They're both crucial to your success as a realtor woman.
Top Female Real Estate Agents
1. Avery Carl
Avery Carl is the Founder and CEO of The Short Term Shop, a popular real estate company headquartered in Tennessee. The company specializes in helping real estate investors locate and purchase profitable short-term rental properties in the country's most stable markets.
In 2017, she ditched her corporate marketing career for real estate, and she was named "Rookie of the Year" by Tennessee Realtors Association after raking in $25M in closed deals in her first year. In 2020, Avery was named among the Top 100 real estate agents by Wall Street Journal and Top 500 by Newsweek.
She acquired her first real estate investment property at 26 on a meager $37,000 salary and grew her portfolio to 30 doors (including both long-term and vacation rentals) by strategically investing in established vacation rental markets.
Her company partnered with Ardor SEO, and in two years, The Short-Term Shop's revenue catapulted from 59 million to 621 million dollars in 2021.
She's the author of Short-Term Rental, Long-Term Wealth. With her expertise in the vacation and short-term rental markets, Avery has helped numerous investors in selling and buying investment properties, enabling them to achieve financial freedom.
2. Barbara Corcoran
Barbara Corcoran is an American businesswoman, syndicated columnist, TV personality, and real estate investor. At 23, she bet her real estate career with a loan of $1,000 from her boyfriend. Her dream was to become the real estate queen, which she achieved in 2001 after selling her company, The Corcoran Group, to NRT for a whopping $66 million.
Today, Barbara Corcoran is an author of several best-selling books, podcast host, YouTuber, Shark Tank investor, talk show guest, and among the most prominent female real estate moguls. She has an active Instagram page with over 700k followers.
74-year-old Barbara Corcoran is known for investing in people, a trait that sets her apart from several other female real estate influencers. Barbara acknowledged in an interview that she offers advice that individuals you won't get from anyone else through Business Unusual, her podcast.
3. Moneeka Sawyer
Moneeka Sawyer hosts a successful podcast that ranks 0.5% globally, Real Estate Investing For Women. She's also spoken at prestigious platforms like Fox 5, Harvard, CBS, and TedX.
With over 20 years of experience and a business worth millions of dollars, she shares valuable information. What's even more fascinating is how generously she shares her knowledge. Just listening to her melodious voice and radiant smile for two minutes is enough to get you hooked.
Her Instagram page offers to teach interested individuals about real estate investing. Her website also contains free training on how to invest in real estate with or without money.
4. Amy Bohutinsky
Amy Bohutinsky is a successful professional with extensive experience in real estate and leadership positions at various online and technology firms.
She's a pioneer member of Zillow Group, where she held several leadership roles, including Chief Operating Officer and Chief Marketing Officer before becoming a director at Duolingo, Modsy, and Zillow. She was recognized as the "Most Powerful Woman in Real Estate" in 2017 and 2018, among several other accolades.
After graduating college with aspirations of becoming an investigative journalist, Amy's career took a different turn. At 23, she couldn't continue when her network sent her to Fort Myers to cover a story about a two-headed shrimp. During the Internet boom, she moved to San Francisco where she began her P.R. career and never looked back.
Despite not being very active on social media, she's a significant influence. Amy occasionally appears on interviews and talk shows, including Fortune's Most Powerful Women. Her story inspires hope, resilience, and aspiration.
5. Raluca Monet
Raluca Monet is a famous real estate influencer who specializes in technology. As the Real Estate Lead at Google Marketing Solutions, she develops solutions for realtor partners seeking to improve their online presence via the search engine.
Although Raluca isn't a popular social media influencer or hands-on real estate professional, she's an excellent role model for investors looking to take advantage of PropTech trends.
Her most significant online content is a 20-minute video in which she discusses consumer behavior. Raluca explains in detail the importance of providing value to clients. Her speech on future realtor marketing is a must-watch for anyone hoping to understand why an online presence is essential.
Raluca's expertise in the real estate market led to her inclusion in The Real Estate Influencers of 2017, a list by Inman. That's another testament that follower count isn't the only determining factor for influencer status.
6. Kim Stoegbauer
Kim Stoegbauer exemplifies the American lady living the dream as a real estate broker. She started her real estate career right after college and had a successful stint until the market crash of 2008. She then ventured into designing party items and blogging. However, as she grew older, she decided to refocus on her passion for real estate.
She founded TomKat Real Estate and TomKat Studio (named after her children), where she specializes in designing and selling homes. Her Instagram feed features numerous listings and renovation inspirations.
Kim's design page also has more than 3,000 posts and 70,000 followers. Her contents are mostly about remodeling, work pick-me-ups, and staging. If you're into design, Kim Stoegbauer’s posts are a must-see.
7. Jade Mills
Jade Mills is among the top influential ladies in real estate. She was recently named the top agent in Coldwell Banker, a US Real estate franchise, and was recognized as the best real estate agent woman by Newsweek.
With career sales of $6 billion, she has established herself as a leading figure in LA's luxury market. She's the type of real estate magnate you can learn one or two things from.
Jade is an embodiment of professionalism and a source of inspiration to female agents. She comes from a humble background as a dairy farmer's daughter but has risen to become a multi-millionaire broker.
Recently inducted into Inman's Hall of Fame, Jade regularly shares her listings and knowledge with aspiring luxury property agents. Follow her if you're looking for inspiration and success in the industry.
8. Lindsey Elliott
Lindsey Elliott has established herself as a successful realtor through her commitment, hard work, and dedication to providing exceptional service to clients. From a young age, she displayed her entrepreneurship skills by starting a dog-walking business.
Lindsey's extensive experience in every aspect of real estate makes her adept at representing buyers, investors, sellers, and banks. Recently, she joined Real Estate Maximums, where she has more opportunities to work together with top-performing real estate agents and further advance her career.
Lindsey's focus on providing high-level customer satisfaction sets her apart. She takes pride in her integrity, creativity, energy, and hard work, enabling her to close her clients' transactions efficiently and seamlessly.
Overall, Lindsey is an outstanding realtor who demonstrates that anyone can achieve great success in real estate with exceptional customer service, dedication, and commitment.
9. Jenny Heins
Jenny Heins is a multi-talented woman with several accomplishments and an impressive portfolio covering various fields, including fashion, media, philanthropy, marketing, and real estate. She is the Operating Manager and Co-Founder at From Dream To Key, where she's applied innovative strategies to real estate, leading her team to be named among the top real estate teams in the country.
She's also the host of "Selling Atlanta," an Emmy-nominated television show, and the Creative Director and Owner of The Palette Collection, a lifestyle brand that encourages creativity, community, and positivity. Besides her entrepreneurial accomplishments, Jenny also worked as an educator and mentor at SCORE, a cooperative arm of the United States Small Business Administration. She specializes in providing private business consultation services for startups, business restructuring, and real estate investing.
Jenny is also a motivational speaker, commissioned artist, and published author. Her experience as an instructor at the university and Master's degree in Business Administration make her an indispensable asset in any field she enters.
10. Kendall Luce
Kendall Luce is a realtor who has been making waves in the Boston real estate scene for over two decades. As the Vice President of the Kendall Luce Team at Compass, she has helped several developers, sellers, and buyers reach their real estate objectives.
With a whopping average of 30 million dollars in rentals and sales each year, Kendall is a highly sought-after real estate agent in the area, known for her in-depth market knowledge, exceptional customer service, and dedication.
Kendall's roots in the Cambridge community run deep, having been born and bred there, and growing up in the real estate development sector. Her passion for real estate has led her to excel not only in sales but also in development. She has overseen countless remarkable developments in Cambridge, and always relishes the opportunity to manage a project from conception to completion.
Kendall's dedication and hard work have earned her several prestigious awards, including the Cambridge Historical Commission Preservation Award, the 2021 Top Real Estate Producers in Boston, and Best Real Estate Professionals List (Wall Street Journal). When she's not busy closing deals, Kendall loves being with Andrew, her husband, and their three children.
Why Should Females Join Real Estate?
Real estate offers a wide range of challenging roles and consistent innovation. Hence, women are now seeking opportunities and pushing boundaries to succeed in this constantly evolving sector. Here are some of the reasons women are choosing a career in real estate.
If you like building relationships and working with people, the real estate business may be your calling. Social skills are key to closing deals in this field. Each day is different and exciting, filled with client meetings, networking, and follow-up calls. The possibilities are endless as everyone you meet could be a potential client. Being comfortable engaging with others is a must-have skill for success. With the opportunity to establish professional relationships and earn a good income through social contacts, there's probably no better place for you than real estate.
It Offers Flexibility
Real estate offers a great work-life balance, which is a big win — especially for working moms. Technology makes it possible to schedule viewing appointments outside of office hours. It allows females to balance their personal and family lives while contributing to the success of real estate.
An Accessible Career
Working as a real estate professional doesn't require you to have a stack of qualifications. While some basic requirements, like brokerage internship and pre-licensing exam, can help, you don't need multiple degrees or prior experience to get started. Plus, there's always room to grow and develop your career. Being a woman in real estate unfolds new opportunities.
Most real estate agents successfully worked remotely even before the pandemic. Although most part of this job is spent away from an office desk, office hours are still a norm. The good news is they can be done from almost anywhere. Besides, you won't be confined to a desk until closing hours. Being a woman in real estate is beneficial as you'll be free to work and roam at their convenience.
It's a Challenging and Rewarding Career
Unlike some other businesses, real estate is a dynamic sector that won't ebb and flow over time. As long as people are looking for a home, they'll always need real estate agents to guide them through the process. Plus, it's a highly-rewarding career, especially for ladies who love a fast-paced and exciting work environment.
You Can Help Others
Working in real estate is more than just selling — it's often about helping others make the most significant decision of their lives. Although going through multiple property listings and the selling process can be stressful, nothing is more rewarding than matching a family with their dream home.
The real estate sector has long been male-dominated, but things are changing. Women are breaking barriers and making their mark in various spheres of the industry. Bringing women on board increases diversity as they offer unique perspectives and a creative edge. It's time to acknowledge and support the increasing number of female real estate agents and recognize the value they bring to the sector.
Women need to keep reaching significant heights in real estate to promote diversity. If you're a female real estate professional looking to increase your sales, we recommend contacting Ardor SEO. Just as we partnered with Avery Carl to boost her revenue massively within three years through SEO marketing, we can do the same to generate more leads and revenue for your real estate business.