As women in the workplace gained political clout through the women’s liberation movement, they gained more opportunities in real estate. In 1973, NAR extended its membership from exclusively brokers to sales agents, which made many more women eligible for membership. By 1978, the majority of NAR members were women and by 1980, almost 300,000 women were real estate agents, making up 45% of the industry. BREAKING INTO CRE AND THE FUTURE OF WOMEN IN REAL ESTATE While women have been very successful in residential real estate, commercial real estate has been a much more difficult market. Only about 37% of professionals in this sector are women and most of them work in property management. Additionally, only about 25% of commercial leasing and sales brokers in the U.S. are women, while just 10% of C-suite holders are women. Among real estate developers, 31% of them are women. According to the CCIM Institute (Certified Commercial Investment Member), women have achieved impressive inroads in commercial real estate. For example, only about 100 CCIMs were women in 1984 compared with more than 550 today. Now, after almost 200 years of female success in the industry, a woman, Marcia Fudge, is Secretary of the Department of Housing and Urban Development (HUD), the nation’s top housing official. The future of women in real estate has never been brighter. “Women have been making a career in real estate for decades. But the dynamics of how they do business in the real estate world may be experiencing a shift – for the better, ” according to Inman. “The future looks bright for women who have an entrepreneurial spirit and a bit of moxie.”
THE FUTURE OF WOMEN IN REAL ESTATE HAS NEVER BEEN BRIGHTER.
NANCY ABRAMS Assistant Editor American Apartment Owners Association (866) 579-2262 nancy@aaoa.com
Nancy Abrams has enjoyed a long career in real estate marketing throughout Southern California and Las Vegas. She formerly represented 19 Merrill Lynch Realty branch offices, property managers The Roberts Companies, new home developers, including master planned communities Peccole Ranch and The Valencia Company and shopping centers for Sandy Sigel of NewMark Merrill.
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