The fight for gender equity in the workplace remains a challenge, especially when it comes to the number of women in leadership positions. Frankly, the statistics speak for themselves.
A survey found that 14% of men working in female-dominated industries already hold an executive level position, compared to only 8% of women (a 75% difference). Additional studies have shown that while 10.4% of Fortune 500 CEOs are female, less than 1% are women of color. And yet, companies with women executives are 30% more likely to outperform other companies.
Even in an industry that attracts mostly women, like real estate, they still lag behind men in leadership positions. While women make up the majority of the National Association of Realtors® (NAR) membership (66%), they remain underrepresented in leadership roles across their respective brokerages.
It is clear we have significant work to do to increase the number of women in leadership roles — in both the professional association and the business side of the industry. As we recognize Women’s Equality Day on August 26, it is important to reflect on the pivotal role women play in real estate and how businesses and organizations can best support their career growth and leadership development.
A historical lens of women in real estate
Dating back to the 1930s, NAR was one of the first professional associations to open its doors to female members, although it did not come overnight. Over the years, we’ve taken several measures to empower women in real estate, support their career advancement and continually look for ways to improve in doing so.
The Women’s Council of REALTORS®, which dates back over 84 years, was originally created because for the first 20 years of its existence women were barred admission from many local Realtor associations. A separate “women’s division” was formed at the Annual Convention in Milwaukee in November 1938 by thirty-seven women from 9 states. Those…