Women in Real Estate
March is international women’s history month. It’s a good time to reflect on where we have come, and how we can still do better. As Real Estate and Finance is my focus, I will refer to it. On the professional services side of real estate, such as legal, accountancy, insurance, banking, and brokerage, there are a lot more women occupying senior positions in these fields today. However, on the construction side of real estate there is a dearth of women to be found.
Real estate construction is one of the last bastions of a truly male dominated field. It is likely a very intimidating arena to enter if you are a woman. The question must be asked are women not made welcome, or is it down to early childhood conditioning, that this field is rarely even considered? The trades of plumbing, electrical, and carpentry are very well paid jobs and these skills are also in short supply. The laws of economics rewards those with the limited supply of something in high demand.
I believe if these trades were introduced to young girls at an early age, and that vocational/trade school was encouraged to those who enjoyed working with their hands, a whole new generation of women may consider trades as an option. Can you imagine how busy an all-women plumbing or electrical company would be? It would be a niche business offering. Women ordering these services might find it less intimidating dealing with a fellow woman.
When women first started entering new fields there were always suggestions that it was not the “norm” and more the exception. If you look at any profession that was formerly male dominated (most of them!), once women came into them, they quickly rose to the top and proved themselves as capable as any man. There is still a disparity in the ratio of women at the very top ranks, and a disparity of pay up and down the ranks, which cannot be justified. As a side note, I would love to see any study done on corporate governance where women hold the majority of senior positions within a corporation, I would hazard a guess their corporate governance might be in great shape!
A couple of fields where women occupy most of the positions are teaching and childcare. Both of which, in my opinion, are grossly underpaid for the crucial service provided for a family’s greatest asset, their children. Back to economics though, if there is a great supply of people going into these fields it’s easier to pay these positions less. As a father to three daughters, I will happily encourage them to pursue whatever field they enjoy most and embrace where their talents lie. If that happens to be a trade, I bet they will have great success.
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