Florida Realtors’ Study: Women in Fla. Real Estate
An association study for the virtual Women in Real Estate (WIRE) conference, Nov. 23-Dec. 1, found that Fla.’s 12 biggest brokerages are led by men, even though a majority of members are women. And within teams, 88% of male brokers identify as leaders compared to only 53% of women.
ORLANDO, Fla. – A majority of Florida Realtors® members are women (57%). But a notable majority of real estate leadership roles are held by men (43% of membership) at a rate of nearly two-to-one.
To gain a closer look into the roles women hold in the state’s real estate industry, Florida Realtors researchers conducted a study in preparation for the upcoming Women in Real Estate (WIRE) virtual conference. While WIRE is usually a one-day event, a virtual format allows it to be held over four days, Nov. 23, 24 and 30, and Dec. 1.
This year’s report took a comprehensive look at the gap between men and women in real estate leadership. Over a period of several months, a Florida Realtors Research team launched a in-depth survey of Florida Realtors’ members. Economist and Director of Economic Development Jennifer Quinn spearheaded the report.
“Depending on your vantage point, you’ll find the final results anywhere from eye-opening to jaw-dropping to unsurprising – but definitely thought-provoking, and meriting further consideration, further discussion and further action,” Florida Realtors CEO Margy Grant said this week.
- In Florida’s 12 biggest brokerages with over 1,000 Realtors, no women serve as the principal broker.
- In firms with 400-plus Realtors, less than one-third are led by a female principal.
- Women have a harder time identifying themselves as leaders, even if they have similar titles or responsibilities as men. Within real estate teams, 88% of male brokers identified as leaders compared to 53% of female brokers.
- 52% of men could envision and identify women in top corporate management roles; 94% of women were able to do so.
- Five times as many women as men felt they had been overlooked for a promotion or raise due to gender.
- Over 50% of principal brokers said they held leadership roles outside of real estate.
- More men than women cited same-gender role models as significant factors in their success.
- Some women surveyed said they opted out of leadership positions, chose other leadership positions or didn’t pursue leadership positions.
- Female sales associates cited caregiving responsibilities as one of the top challenges they face when seeking advancement. However, they also considered long work weeks and limited support from mentors and bosses as another problem.
Florida Realtors researchers started the WIRE study in April, expanding on previous research and adding a large direct survey of members, according to Quinn. “We received over 4,500 qualified responses, allowing us to achieve a survey margin of error at a 90% confidence level at plus-or-minus 1.26%.”
© 2020 Florida Realtors®