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| Real Estate Watch Editorial Staff |
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By Karen Johnson There was a time in the not-too-distant past that traditional male and female roles were strictly adhered to. Doctors, firefighters, and law enforcement officers were always men; nurses, teachers, and librarians were always women. Women sold homes; men sold commercial real estate. The rules were simple. Everyone remained in gender specific occupations and lived happily ever after. However, the women’s movement made it blatantly obvious that “happily ever after” wasn’t necessarily accurate.
Slowly, as female doctors, firefighters, and police officers began to make an impact, perceptions started to change about traditional roles. When the public faced an emergency, they learned to rely on the capable women who came to their rescue. Breaking into the commercial real estate business has presented similar challenges. Unlike a life or death situation, commercial real estate investors, typically men, tended to turn to male brokers for assistance. They were more comfortable dealing with men because they spoke the same language. A few successful brokers handled a majority of the deals in the 70s and 80s. Male commercial real estate brokers established close-knit relationships with male investors and women were basically excluded from the network, except in administrative or support roles. The struggle for women breaking into the commercial arena was formidable. Something interesting happened. Suddenly, women started to make their mark in the corporate world. Women as presidents and CEOs were no longer an anomaly but accepted and respected. Female millionaires, who earned their money through savvy business decisions, not an inheritance, were among the top wage earners and on the wealthiest-people-in-the-world lists. With the shifting distribution of wealth and power, emerged a different kind of commercial real estate investor. Women were becoming the decision-makers. This phenomenon opened the door for female commercial real estate brokers. Soon, top women producers in the commercial real estate field began to be noticed. This occurrence has taken place just in time for the technology explosion. Younger, technology savvy investors are looking for the same attributes in their broker. As the internet brings the world within immediate reach, more opportunities are presenting themselves for women and men to work together to satisfy these needs. Former male-only relationships that were developed on the golf course are now fostered across continents. There is room for more than one type of commercial real estate broker. Common personality traits are recognized among successful female commercial real estate professionals. Successful women in real estate tend to be risk-takers. It can be daunting to rely on income from an unreliable source, however, the higher the risk, the higher the rewards. Commercial real estate can be an extremely lucrative field. To be successful in commercial real estate, women can’t afford to be mediocre. Women must be assertive and ready to stand up for themselves, and if they get in the door, above all else, they better know their market, clients’ needs, and solutions. Although women are more accepted in the commercial real estate world, and men and women brokers often work well together to find the perfect solution for their clients, the transition period is not over yet. As women continue to make inroads, men must face increased competition in the marketplace, which may cause some resentment. Women must recognize and acknowledge this for the dynamics are continuing to change in a positive manner. In the end, women will continue to be successful in commercial real estate by gaining respect through their knowledge and professionalism. And as respect grows, so will acceptance. Doctors, lawyers and police officers have been able to accomplish a virtual elimination of traditional role stereotypes, allowing men and women to be successful in their chosen careers. Now is the time for commercial real estate brokers to shatter these same stereotypes and show the market that a woman can also be the perfect choice as a commercial real estate advisor. Karen Johnson is a Commercial Advisor at Grubb & Ellis|VIP-D'Alessandro, a full service commercial real estate company located in Southwest Florida.
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