• Seventy percent of female members work exclu- sively in residential real estate, compared to 45% of male members. Fifteen percent of males work exclusively in commercial real estate, compared to only four percentof females. The top reasons that all specialists—male and female—do not yet pursue commercial real estate are a lack of knowledge of commercial real estate and not knowing how to break into the industry, according to another NAR Survey. • Moreover, 75 percent of female members reported that real estate is currently their only occupation, and 30 of them have been active as a real estate pro fessional for 16 or more years. In a typical work week, about half of them work 40 hours or more. • From a business activity perspective, the numbers are very similar between female and male resi- dential-only specialists. Females are slightly outperforming their male colleagues, although the business activity is very close. For instance, female members sell more expensive homes than male specialists—female agents have a median of eight sales transactions compared to seven for males. However, 18 percent of male specialists compared to 15 percent of female specialists had $5 million or more in annual sales trans action volume. Higher sales volume means higher commissions and, there fore, a higher overall income. This might be why men had a higher median gross income than women.
2017 Choosing a Career in Real Estate Survey: A Perspective on Gender, Race, and Ethnicity, National Association of REALTORS®
What makes real estate an attractive profession? Women and men choose to work in the real estate market for different reasons. Women choose the real estate industry for the flexible hours, their desire to help families, and their love of homes and homeownership. However, men reported an affinity for real estate, entrepreneurship, and a special interest in commercial real estate. Based on the NAR survey, flexibility appears to be more important for women than for men. Work-life balance seems to be one of the main priorities for women in real estate. Moreover, many female real estate agents get great satisfaction from knowing they helped people through major times in their lives. Purchasing a home is considered to be a major life event, and women especially feel that it is a very important part of people’s lives. Real estate agents get to help people through each stage in their lives—from a new couple buying their first house to a family buying a vacation home or a bachelor getting his ultimate bachelor pad—and truly be part of a community.
2017 Choosing a Career in Real Estate Survey: A Perspective on Gender, Race, and Ethnicity, National Association of REALTORS® 2
CAPITAL AREA REALTOR ® — Spring 2019 39
This issue features women in real estate and highlights from the GCAAR Recognition Awards.