Being a woman in the working world hasn’t always been easy, but the female population now actually make up around 60% of estate agents in the industry. They are also involved in over 90% of all major decision making when it comes to purchasing a new home. So just how important are women in the modern estate agent sector?
Why are there more women in real estate than men?
Some people argue that the female gender have a far greater scope for emotional intelligence, which comes in handy when dealing with something as raw, personal and emotional as buying a new home.
CEO of US-based Better Homes and Garden Real Estate, which is now opening in Australia, Sherry Chris believes: “When you think about females in general, it's been said, and I don't know whether you'll agree with this or not, is that typically women have a higher level of emotional intelligence.
“And when you think about the home buying process, it's a very emotional decision. It's not a business decision, it's a personal decision. So, what I've found with female agents, certainly that I know in the industry and trust, is that they're well in tune with that whole emotional piece of it.”
Will more women in the industry change the perception of your standard estate agent?
Estate agents are stereotypically sneered at in modern society and labelled as selfish. As the numbers in real estate swing towards women, with more than half of agents now being female, it will be interesting to see whether this perception changes.
Sherry Chris said: “What will change the perception of the real estate agent is us, as realtors around the world actually, working more collaboratively together. That's what is going to change. And providing a higher level of service to the end consumer.
“That's not gender related. That's related back to our industry. And where today, if we look at our industry as a whole, we're really very transaction oriented where we need to be more consumer focused. And surprising and delighting the end consumer with the way that we do business with them. That's what's going to change our industry.”
How is new technology shaping the industry?
New technology is constantly driving every working sector on the planet, as we are able to do more and more with the tap of a button. In the real estate industry for example, social media is now really driving sales, as customers are using these platforms to find both agents and properties.
Not only this, but the rise of predictive technology allows us agents to use data and artificial intelligence as a means of determining the most likely customers to buy and sell, and when they are most likely to do this.
Sherry Chris claimed: “That's great information for us to have as an industry, but it also helps the end consumer as well. Because we're able to identify the needs of the consumer and really service those needs.
“So, this whole artificial intelligence and data management pieces is important for the future of our industry. Now, go ahead and ask the question. I've much more that I could talk about around this because it's a fascinating piece of our future.”
Stay tuned for more articles from Real Estate Talk, a trusted source for real estate investors, new and old.