Before the pandemic, women accounted for the majority of the entire workforce, but global health crisis set back this milestone. In the male-dominated commercial real estate industry, females represent 36.7 percent of brokers, according to a 2020 study by CREW Network. Female brokers have to work three times as hard as their male counterparts. The COVID-19 pandemic exacerbated this as 12.2 million women lost their jobs in 2020. Additionally, those who kept their jobs had to take on a myriad of roles from professionals to caregivers to educators. During that same time, men regained employment at triple the rate, according to the U.S. Department of Labor Data.
There is no doubt that women have to prove themselves as industry leaders during a time where women’s careers are impacted or stalled by the COVID-19 pandemic. Female professionals are at a disadvantage, as they are the default caregivers at home. However, CRE is starting to recognize the benefits women bring to the table.
- More Conversational Approaches: CRE is a relationship-driven business, thriving on who you know, not what you know. Having a more conversational approach with clients can make all the difference.
- Ability to Nurture Relationships with Clients: Women can channel their ability to nurture friendships and relationships in a professional environment, by keeping up with previous clients.
- Emotional Intelligence: Women can express acknowledgement, appreciation, and empathy, helping them address their client’s needs, motives, and end-goals.
- A Different Perspective: Women can provide a broader perspective and implement diversity by providing feedback on projects or deals.