Women make up half of the global population but less than 40% of the global workforce, according to the World Bank. In real estate, women have long been driving forces, not only shaping homes but also redefining the industry's landscape. International Women's Day and Women’s History Month, both in March, spotlighted the strides women have made in real estate, while acknowledging the challenges that persist.

Representation within the real estate workforce

While women constitute a significant portion of the real estate workforce, their representation in leadership roles remains disproportionately low. In the UK, less than one-third of executive teams in real estate include women. Similarly, in the US, women dominate residential real estate but hold fewer executive positions, particularly in the commercial sector, where they account for only 36.7% of the workforce. This disparity extends to entrepreneurial endeavours. In 2022, only 8% of new estate agencies in the UK were launched by women, a decline from 15% in 2021.

Women are coming together to break barriers and foster inclusive environments. Organisations like the Women's Council of Realtors, established in 1938, have been instrumental in supporting women's advancement in real estate. Mentorship programmes, flexible work arrangements, and leadership commitment to diversity are pivotal in promoting gender equality within the industry.

In 2022, Savills examined where it was best to be a woman worker, based on work and pay equality, business and asset ownership equality, parenting and home life, government representation for women, and educational attainment of women. The Nordic locations of Finland, Iceland, Sweden, and Denmark claimed the top four spots, with each performing highly across the five index elements. Such locations also tend to perform well across similar indices from The Economist, PWC, and McKinsey, among others.

International Women's Day serves as a reminder of the progress made and the work still required to achieve true gender parity in real estate. It's a call to action for industry leaders to implement policies that promote diversity, equity, and inclusion. By addressing systemic barriers and nurturing supportive environments, we can pave the way for more women to lead, innovate, and redefine the future of real estate.

Women leveraging real estate for empowerment and stability

Though there is still work to be done in the workforce, women are increasingly asserting their presence in the housing market, often outpacing their male counterparts in homeownership. A recent analysis revealed that single women in the United States own approximately 2.72 million more homes than single men. This trend is evident in 47 out of 50 states, underscoring women's growing financial independence and commitment to securing their futures through property ownership.

This phenomenon isn't confined to the US. Globally, women are leveraging real estate as a means of empowerment, stability, and wealth accumulation. Despite earning less on average, their propensity to invest in property highlights a strategic approach to financial security.

In celebrating the achievements of women in real estate, we not only honour their contributions but also inspire future generations to build upon this legacy, ensuring that the industry reflects the diverse society it serves.

Further information

Contact Kelcie Sellers

IMPACTS: The World of Women and Work