Episode Transcript
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Speaker 1 (00:00):
Hello, hello, hello,
welcome everyone.
I am really excited and firedup to talk about the topic today
, which is where are all of thewomen and why leadership lists
in real estate are still missingus, because it is definitely
something that gets me a littlehot under the collar, to be
(00:22):
honest.
It is list season and we arestarting to see all of the top
leaders in real estate listsdrop, but why are women
substantially missing from theselists?
Let's be real Women arecrushing it in real estate.
They are outperforming,out-earning and outlasting so
(00:43):
many other people.
So where is that recognition?
In this episode, I want to jumpinto why women are missing from
leadership lists, how theindustry is holding us back and
what we can do to potentiallyfix this and claim our space at
the top.
I want to start with a storyand oh my gosh, I have so many
(01:04):
of these, but this one reallystood out to me when I was
crafting this podcast outline.
Two-ish years ago, I was at aleadership roundtable in DC and
this was all.
The CEOs, all of the bigleaders across the country, were
coming to this roundtable and Iremember texting my husband
(01:27):
that I was only one of 10 womenin the room, and there were
probably about 150 to 200attendees, but the lack of
female leadership in that roomwas palpable.
I was the only woman sitting atmy round table and there was
about 10 people there and Iremember this brokerage owner
(01:51):
leans over to me and heintroduces himself.
I say, oh hey, I'm LindsayDreyer with City Chic Real
Estate.
And the first thing out of hismouth was do only women work at
your brokerage?
I was so flabbergasted butluckily I came back with a quick
comeback.
I said no, why would you saythat?
(02:14):
Because I'm a woman and I saidit loud enough.
So everyone at my table heardme and it was a awkward moment.
You could hear a pin drop andthis man could not handle that.
He got called out.
He gets in defensive mode andis like oh, I mean, I didn't
mean offense by it.
And I said I didn't takeoffense by it.
(02:34):
I just thought it was aninappropriate question.
Should I ask do only men workat your brokerage because you're
a man?
And basically that conversationwas shut down then.
That is just one of so manystories where I was
underestimated as a femaleleader of a brokerage and I'm
(02:56):
not going to dive into all ofthem today, but I really do want
to talk about this disparity inour industry, on lack of female
leadership and why there's notmore recognition of us on these
lists.
You probably know this Womenmake up the majority of real
estate agents, but we really areonly a fraction of the
(03:18):
executives, brokerage owners,prop tech especially so.
For those of you that don'tknow, proptech is like
technology and real estate andthe thought leaders that are
featured on power lists.
I want to get into thisdisconnect of why aren't top
performing agents and businessowners getting the recognition
(03:39):
that they deserve, and I have alot of thoughts on this.
I don't think this is going tobe a problem that we solve today
, unfortunately, but I do feellike, little by little, we move
the needle on getting therecognition that women in this
industry deserve.
Let's dive in to the barriersthat I feel like are keeping
(04:02):
women off of these lists andgetting recognition.
Number one is that we stillhave a old boys club culture in
leadership and these leadershiplists, these top lists, are
often created by and for aspecific network of men or just
(04:22):
a specific network of men orjust a specific network of
people If you are not visible tothis particular network or good
old boys club, then you are notgoing to make an appearance on
these lists.
The next thing comes down tojust how women are.
In general, women don'tself-promote as aggressively as
(04:45):
men.
We are not looking for thatexternal validation all of the
time, and because women are notseeking that visibility as much
as men, men are more likely tobe nominated or nominate
themselves or get nominated bytheir peers.
So I know so many women who donot nominate themselves for
(05:08):
things and they're like well, Ijust think that's weird, that's
feeding my ego, that's beingcocky.
No, if there is a nominationprocess and you are allowed to
nominate yourself, throw yourhat in the ring, not only just
in real estate, but it has beenshown by studies and studies and
studies that women don't takeas many risks as men, and so we
(05:32):
see ourselves not nominating asbasically taking this huge risk
putting ourselves out there, notnecessarily liking to brag
about ourselves, but we need tobe throwing our hat in these
rings if we want to make adifference in this industry.
So if you don't feelcomfortable nominating yourself,
have your friend nominate you.
(05:53):
Have a peer who is yourcheerleader in the real estate
industry?
Nominate you, because we needto get these nominations in
order to become more visible tothe people that are creating
these lists.
So it is not cocky, it is notbad to promote yourself, because
you need to get that promotionto make a difference and show
(06:16):
people that women can be leaders, women can be in leadership
positions Kind of piggybackingon the fact that women don't
promote themselves asaggressively as men.
That leads to a lack ofvisibility and also a media bias
.
So women are not beingspotlighted the same way that
men are in our industrypublications.
(06:37):
I don't know about you, but Ifeel like it's the same names,
the same tired advice, the sameover and over and over again and
honestly, it's up to us to tryto break in and give people
another choice, like show themthat there's another way, show
(06:59):
them that there are more peoplethat they can be highlighting.
When we don't see women in ourmedia and when we don't see
women in our media and when weare not visible, this basically
helps perpetuate the silence andthe disappearance of women in
lists in the media and it makesus less visible.
(07:20):
We need to be more visible inorder to change the conversation
and change what's going on inour industry.
The next point is that womentend to not be egomaniacs and
I'm not saying all men areegomaniacs, but women tend to
lead differently.
We really don't care about theexternal validation.
(07:42):
We aren't caring about anythingoutside of us, just leading our
teams, and we absolutely wantto take care of our people.
Where we prioritizecollaboration, we also are
prioritizing work-life balance,which I'll get into in a little
bit.
We are all about impact overego-driven metrics.
(08:04):
So personally I could care lesswhat my sales volume is, how
many homes we've sold, any ofthose ego-driven metrics.
I personally care about my teamhaving a great life, making
enough money to support thatlife and finding ways that we
(08:25):
can collaborate and also supportthem.
And it's not about more, more,more, more, more.
And I really think that womenare leading the charge in
shifting that perspective ofit's not just about sales volume
, it's not just about home sold,it's not just about those ego
driven metrics.
It really is about a holisticapproach to leadership and I
(08:50):
think a lot of times that isn'trecognized because it's just not
easy to measure.
So if it's not easy to measure,it's staying off the lists.
And this brings me to my lastreason, and I actually think
that this is the number onereason why we do not see more
women in leadership roles or onthese leadership lists.
(09:15):
Women are keenly aware of timeand energy return on investment.
If we are investing time insomething, we are expecting to
see a high return on investment.
If we are investing our energy,we want to see an ROI.
Not just that, but we want toknow with certainty that if we
(09:36):
invest this time and energy intosomething, it's going to pay
back, it's going to reap usrewards.
So I think that opting out ofleadership, opting out of the
management track, is a way thatwomen stay in control of their
return on energy and timeinvestment.
There's something called themotherhood penalty, which you
(09:58):
may have heard of, but it'sbasically this earnings gap or
this career growth gap thatcontinues until a child reaches
10 years old.
Now I know for me personally, Ihave three children, three
under the age of nine.
So that means that every timeone of my children was born,
(10:19):
that motherhood penalty startedover again.
So I have basically been inthis motherhood penalty gap for
a very long time and it isprobably going to continue for
the next six years.
So after 10 years and thatchild reaches 10 years of age.
That motherhood penalty gapwill narrow, but it never
(10:40):
completely disappears.
So what does this mean for womenin real estate?
I know for me it means that I'minvesting my time and energy
where it has the biggest payoff,and for most real estate agents
that is sales.
It is not management, it is notleadership.
They're also not going to puttheir success in the hands of
(11:03):
unpredictable or unsupportiveleadership, which is often male.
So I know that I'm not going toinvest my time and energy into
a unpredictable leadership role,because I could just invest
that same time and energy into areal estate career that's under
completely my control.
I'm at 1099, it's my ownbusiness and I can probably work
(11:28):
less and make more money.
So this is the calculus thatwomen are evaluating every
single day, because we have afinite time and energy bandwidth
.
That's just facts.
Women and all humans havelimited time and energy.
So I think and again, this ismy opinion, but I think because
(11:51):
I have lived it, I know I canspeak to it is that women are
opting out of leadership trackbecause they have a higher
return on investment by justbeing a real estate agent and
selling homes.
So, that having been said, Iwould love to talk about how do
we change this narrative or howdo we start to get more women in
(12:15):
leadership, or how can weincrease visibility of women in
leadership.
The first and I think I'vealready kind of touched on it is
that visibility is everything.
We need to make examples ofwomen leaders more visible.
We need to celebrate them, weneed to amplify them and we need
to tell their stories, becausethey are very unique stories.
(12:36):
They're very different storiesBecause women are optimizing
around time and energy.
It's a different story.
We're not optimizing aroundsales volume.
We're not optimizing aroundgross commissions.
We're not optimizing aroundgross commissions.
We're not optimizing aroundnumber of homes sold.
We're truly optimizing aroundreturn on time and energy
investment.
And showing the very differentways that women are succeeding
(12:58):
in this business is so importantbecause it is so varied.
It's part of why I started mycoaching company, happy Agent Co
.
Because I wanted to supportwomen in building holistic
success, really honing in onthat time and energy investment
return that is so crucial tohaving a happy life in business.
(13:23):
The next way we can make animpact is to just nominate more
women whether that's yourself,whether that's your colleagues
but really submit them forawards, leadership lists,
speaking engagements of womenleadership doing it their way.
That is so important.
Just representation is socrucial to moving the needle on
(13:53):
this.
I also think we need to changehow we're keeping score and I'll
be honest, I don't know exactlyhow that's going to look, but I
think it really goes beyondsales volume, it goes beyond
number of homes sold and itlooks at impact.
It looks at who's changing thenarrative, who is fighting the
status quo, who's findingsuccess on their own terms, and
(14:17):
that's empowerment.
I feel like the industry doesn'twant us to talk about that,
because our industry survives onsales volume and number of
homes sold and gross commissions, survives on sales volume and
number of homes sold and grosscommissions.
That is how shareholders of thebrokerages, that is how
brokerage owners keep score.
It's all about profit, so theydon't want to show other ways
(14:38):
that people are finding successbeyond those metrics.
But I think it's important westart showing success beyond
those metrics, because successis defined by you.
You define success.
For me, it's making enough moneyso I can live an incredible
life with my family.
I have the freedom to travel.
I have the freedom toparticipate in my hobbies, spend
(15:01):
time with my friends.
I don't need to be on a list tomake the most money or the most
sales volume, because I knowfor me I'm going to have to
sacrifice things that are justnot worth sacrificing, and I
have a feeling there's a lot ofwomen out there that are in the
same boat.
We would love to be recognized,but what we realize is that we
(15:24):
are making a damn good living,we are providing for our
families and we are stillshowing up for them and for
ourselves on a regular basis,and that is the definition of
success.
So cheers.
Even if you're not a list, Ijust want to give you some props
.
The next thing that I feel likewe could do to change the
situation is to make corporateenvironments more women-friendly
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, more family-friendly.
This includes really greatparental family leave benefits.
It also includes daycare, maybeeven daycare on site, but some
credits for that.
Just providing flexible workarrangements as well.
When you have a sick kid athome, being a realtor absolutely
(16:10):
trumps being in leadership at abrokerage because you have that
flexibility.
So those corporate environmentsjust are not conducive to being
a woman, and a lot of times ifa woman is putting her family
first, that's frowned upon, thatis not supported and that,
(16:32):
basically is someone who is notgoing to opt in to that
leadership track, to thatmanagement track, because she
wants to put her family first,and corporate America does not
allow women to do that easily.
I also want you to own your wins, which I know is a really hard
thing for women to do.
We need to be unapologeticabout our definition of success
(16:56):
and also promoting ourselves.
You are amazing, you kick assand it's okay to talk about it
because we need those examplesout there.
We need to see that there is amom with three children doing
the damn thing and making$300,000 and still being able to
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show up fully for herself andfor her family.
So owning your wins, owningyour definition of success, is
so crucial.
And, lastly, I think we need tobe building our own tables.
I love that there's the WomanUp Conference.
I know there's a lot of otherwomen that are building their
own tables.
If we don't make spaces wherewomen can be honest and
(17:39):
collaborate on what issues areimpacting us, we're not going to
make a difference and we're notgoing to move the needle again.
We need to create our ownrecognition, we need to create
our own platforms and we need tocreate our own metrics on how
we are measuring success, and Ijust think that that is so
important to changing thenarrative.
(18:03):
I have a few challenges for you,so the first is the next time
you see an opportunity tonominate someone for an award or
a leadership opportunity, goand do it.
If it's yourself, just do it.
If it's one of your colleaguesor your friends, do it Also.
I really want you to own onewin today.
(18:25):
Share that success, even if itfeels vulnerable, and step into
it.
Just feel it.
I know it's hard sometimes, butjust feel that success.
Own that win and share it.
It doesn't have to be on socialmedia.
Share it with your friends,share it with your family, but
we need to start thinking of ourbusinesses in a way where we're
(18:46):
proud of ourselves, becausethat's part of how we're going
to change.
This is being proud ofourselves, and we have a lot to
be proud of.
I also think that you can pluginto any networking
opportunities designed for womenin real estate.
So, whether that's aspecifically woman in real
estate group, facebook groups,conferences, start looking for
(19:08):
those opportunities and if thereare any men listening which I
hope there are, this isn't justfor the ladies.
Promote the women in yoursphere.
It is important for men to beallies in this fight to have
more women leadership recognizedin our industry.
(19:29):
I want to close on this let'smake it impossible for us to
ignore women in real estate.
The real estate industrythrives because of women, and
that is facts.
We are the majority of realestate agents and it is time
that leadership lists reflectthat.