There is a lot of money in real estate. Individuals are willing to spend money and go to any lengths to get their ideal houses. Depending on their abilities, men and women may both advance in this field, but there are distinct obstacles for female leaders in the industry. Women face discrimination when they join a male-dominated industry, such as the real estate sector. Offices at larger brokerages tend to be more male-dominated. Women find it more difficult to adapt as a result. Females have encountered this in both subtle and overt ways.
Women in most industries, including real estate, face disparities in pay. Job promotions increase the salary gap between men and women. Males earn nearly 30% more than women, on average. There are also fewer opportunities for them when it comes to open leadership positions. This ties into a broader issue of needing to progress professionally at a different rate than men. Women often face prejudice based on gender roles and have to worry about personal safety in the workplace. Coaching and training opportunities are beneficial for successful real estate agents. A mentor may be a great source of responsibility and advice. Most top achievers credit a mentor who supported them early in their careers with a significant portion of their success. Because of scheduling issues, this might be difficult for many women. There is a lack of mentorship offered since few women serve in leadership positions, and existing leaders are apt to mentor males instead.
It is more challenging for women to break into male-dominated groups. Many of the largest brokerage businesses are still controlled by males that follow an outdated workplace culture, which often conflicts with the goals of women. Unlike males in society, women face a prioritization dilemma when they want to start a family. The constant struggle for a life/work balance is at the forefront of how they make career decisions and how they are perceived. Women occupy fewer executive positions than men, even though they now outnumber men in the real estate market. While women comprise 25% of organizations, they represent 14% of the C-Suite executives.
Despite working harder, putting in more hours, and closing more deals, women are typically passed over for C-level and executive roles in real estate. It could be challenging for women in the real estate sector to progress. Women in real estate tend to rise fast at the beginning of their careers. When they become older and move up to management and senior roles, their career slows down, and the wage gap worsens.