Advancing Women in Commercial Real Estate
All businesses benefit by having more women in senior leadership roles, yet women remain underrepresented in commercial real estate leadership, reported Commercial Real Estate Women, Lawrence, Kan.
The organization’s new white paper, Accelerating the Advancement of Women in Commercial Real Estate, examines three areas where women remain underrepresented in commercial real estate: the talent pipeline, senior executive leadership and corporate boards. It includes a guide to advancing women in each of these career areas.
“Research shows that companies that advance more women and people of color have greater financial outcomes, stronger corporate cultures, greater innovation and market growth,” CREW Network CEO Wendy Mann said. “Gender equity and diversity and inclusion are business imperatives; however, most commercial real estate companies are way behind the mark. Now is the time to prioritize diversity as a key strategy for driving growth and commit to making a change, and it starts from the top.”
The Mortgage Bankers Association offers a network for women in real estate finance called MBA Promoting Opportunities for Women to Extend their Reach, or mPower. The mPower network creates opportunities to leverage the power and influence of women and provides a platform for women to strengthen their networks, achieve professional growth and development and exchange information about the real estate industry.
Click here for more information on the mPower network. Upcoming mPower events include the mPowering You Summit for Women in Real Estate Finance on Oct. 26 in Austin, Texas and an mPower Event at MBA’s Annual Convention & Expo in Austin on Oct. 29.
“In order for companies to truly create a diverse and inclusive environment, their actions and follow-through need to be both deliberate and intentional,” said MBA COO and mPower Founder Marcia Davies. “The commercial real estate industry is recognizing this, and through mPower’s rapidly growing and enthusiastic network, we’re making sure professional women and minorities have the tools and opportunities they need to reach their highest potential.”
The CREW white paper reported that companies in the top quartile for gender diversity are 15 percent more likely to have financial returns above their industry medians and innovation is six times higher at companies with the most equal workplace cultures. Changing board composition to include 30 percent female representation could add up to six percentage points to a company’s net margin, it said.
“Creating paths to leadership and success for women, and all people, in this dynamic industry will allow us to better serve our customers,” said Capital One Commercial Bank Head of Diversity and Inclusion Carolyn McCarty.
