You don’t have to dig deep to find that women are taking the reins in all areas relating to real estate in Australia. Statistically, this should come as no surprise given that 60% of online property searches are performed by females. And, if you narrow down this statistic you will find that the dominant age bracket of internet searches are females aged between 25 – 34. Backing up this data is a report by Westpac that revealed women lead the way in buying and selling property, investing in property and renovating. These set of numbers makes sense that women should play an active role in all matters pertaining to real estate.
Relationships and Networking
As we know it is a woman’s natural ability to organise and execute social events. The same goes for furnishing, maintaining or renovating a home. In the past, a lot of socialising and networking was performed at the local, cricket, soccer, football and netball clubs. Invariably these clubs were a group of people across a multitude of trades and professions that gathered for a collective goal. A result of these clubs’ work was generated by “teammates” who could provide a needed service. Fast forward to the explosion of the internet and you will find social networking platforms that perform the same function but on a broader scale in building relationships and “friends”.
In this social network space, you will find 75% of women use Facebook with 84% being females aged 25 – 34. We mention these statistics because real estate is about relationships and networks. Facebook is a social networking platform that connects relatives, friends and co-workers. Instantly you are connected to your friends friends. This broadens your network in a way a social club could not. A case in point is a female real estate agent who liked baking cakes. She discovered a local “cake baking” community on Facebook which she joined. Over time she would post her cakes on Facebook. She then decided to hire a hall and invite members of the group to bring along a cake. Over 500 members came along and instantly she created 500 contacts.
Entry Into Real Estate
Entering into property management and sales is not that difficult. You don’t need a degree to sell a property. What will give you a greater chance to succeed is a personality that lends itself to socialising and networking. Buying or selling a home is one of the biggest decisions you will make in your life. It is made easier if the person you engage to help you is someone you know and trust.
Real Estate Awards
The REIV Real Estate Institute of Victoria recently held their annual “Awards For Excellence”. There were 19 individual awards given with over 50% of these going to females. On top of that, over 55% of placegetters were female.
Two of the most prestigious individual awards were taken out by OBrien Real Estate agents in Michelle Stephens and Anna Molinaro. For the second year running Michelle was awarded “Residential Salesperson of the Year” and Anna was awarded “Residential Property Manager of the Year”. There are approximately 14,000 real estate agents in Victoria and for Michelle Stephens to sit at the top for the past 2 years is a remarkable achievement. And the property management arena is just as competitive as sales. The recognition Anna Molinaro has received is testament to her people skills and hard work.
Why Women Should Be Attracted To Real Estate
Every business and industry has its highs and lows. A lot of these can be related to seasonal changes, weakening and strengthening of currencies and so on. Most businesses who do their due diligence will prepare and factor in these events as they move forward. However, no one anticipated the current pandemic and the impact it would have on a communities employment, health and finances.
Financy Womens Index is an Australian owned and operated website that is dedicated to empowering women to become financially fearless. Each quarter the index tracks and measures women’s economic progress in Australia. COVID-19 has revealed hidden costs that have affected women more than men. Traditional female-powered industries such as accommodation, food services, arts and recreation have been hit hardest with the lockdown. Two years of full-time female employment growth has been reversed and the gender pay gap has widened to 14% in favour of males. Not only that but the HILDA survey shows that 60-year-old women are the highest poverty group in Australia. This trend needs to be reversed and it will take the collective efforts of family, community and government.
This highlights why females should steer towards real estate. The commission and salary for the sale of any property offer the same pay regardless of gender.