Can Women Survive in the Commercial Real Estate Industry?

Written by Jill Nesloney, Director at Lee & Associates – Houston

Historically, the commercial real estate (CRE) industry has been a male dominated industry and is still very much that way. Over the last two decades, we have seen more and more women enter and stay in the CRE sector in Houston; however, it can be an extremely intimidating and competitive industry.  What makes it such an intimidating industry for women to enter into? And why should women stick with it? Here are my thoughts on how women can thrive and succeed in a male dominated industry.

Getting Started in the Industry: The hardest part is getting started, whether female or male, because the beginning is the most critical period. Finding the ability to survive the first few years of your career is extremely challenging regardless of your gender. Since the industry is heavily production-based, the first few years are critical for learning the industry, the market and how to ramp up your sales. These years are strenuous and often have little compensation; therefore, being able to live conservatively in between closing transactions is important. This is where I think most women get nervous about taking a leap of faith and miss the boat. If you put in the time, the earning potential can be limitless. We must think of these first few years as getting your “masters” in CRE. It will be painful, and you will struggle financially, but once you’re outside of those first years, you will begin to see your earning potential take off.

Confidence is Key: With the market often times intimidating, many women may find themselves questioning their knowledge. Do we really know the market well and do we really understand each aspect of the transaction as well as our male competitors? The answer is yes. Most of the men in this industry also begin their careers with unsureness, but they are confident they can get the job done and learn as they go. Women tend to feel as though they must outsmart or outperform their male counterparts, but in fact, we need to stop doubting ourselves. Bobbie Bozarth with Transwestern said, “I always thought the guys worked harder than I did when I got into industry because they seemed to come in earlier or stay later. Then I figured out that I was more efficient, and my priorities were different. I learned to compartmentalize and always work around positive people. I also learned it was OK to stand my ground when I was right versus standing down. God gives us all a brain-I just had to learn to use it wisely.” I believe that succeeding is about being confident regardless of the situation. Your clientele will see your confidence as an asset to the service you provide.

Flexibility in the Workplace and Mom Life: What I love most about this career path is that it is flexible. I am not tied to my desk and can move my schedule around, so I can attend an event at my son’s school or pick up dry cleaning after a property tour. As Kristen Rabel with CBRE says, “This industry is great for a working mom, but it takes a village to keep it all in balance. I couldn’t manage it all without my partners, technology, and being extremely disciplined and organized. Every day is a unique challenge but rewarding and fulfilling when you give it 100 percent!” I couldn’t agree with Kristen more. It’s about balancing what is important, so you can excel at work and at home. Most CRE brokers can create a schedule that fits their family’s needs. Isn’t this the ideal situation for a working mom? Technology, coupled with a well-organized team, plays a huge roll in being able to work from anywhere and allows us to continue excelling in our jobs while also being present for life’s moments. Being able to log in remotely or take a conference call in the car is what makes it possible to do both brokerage and parenthood well.

According to the Royal Society Open Science Journal, women have the innate ability to multitask. This unique ability makes us great CRE brokers because it allows us to track every deal we are working on and quickly jump from one task to another without thinking twice. This could be the leading benefit of being a woman in this industry. Women should stick with the CRE industry because despite it being male dominated, we have proven we can adapt and thrive in all environments.