What Happens When Women in CRE Band Together

When the GlobeSt.ELITE Women of Influence conference was held last year one of the many attendees was Jean Kane. As CEO of Colliers Minneapolis/St. Paul, Kane already has a robust network. But after attending the event it was even richer.

For example, during the morning hike, Kane says she connected with other women in the business. “So much better of a networking event than standing at a bar. When you are hiking, it’s conducive for having conversations. It was a wonderful networking opportunity with beautiful scenery.”

Kane says she has been in the business for over 30 years and this was the first female-oriented event she has attended. “I believe our industry needs events that promote diversity and inclusion,” she says.

Women have clearly progressed in the industry and more seasoned women are helping to mentor younger women, Kane adds. “However, I still think it’s odd that more women are not entering certain fields-especially in roles that are more male dominated, such as brokerage.”

Count Kane as another believer in the power of connections and cooperation. These traits, of course, are the backbone for any industry group or association but they have rarely overlapped with opportunities specifically for women. That is changing, not only informally among women in CRE but also thanks to such initiatives as the Women of Influence event, which this year will be held on July 23-24. These shifts, according to multiple women in CRE with whom GlobeSt.com spoke, will ultimately result in a new type of CRE community.

Despite the progress women have made in CRE, they haven’t finished climbing the ladder, says Sadhvi Subramanian, senior vice president for Capital One, adding that there is still a missing rung for women and CRE continues to be a male dominated industry.

Women need to be encouraged to go into revenue generating functions and there is still a big gap in women getting to the initial managerial level positions, Subramanian says. Also, she notes that “women of color still are the most discriminated against as far as promotions are concerned.”

In the face of these challenges it is important to remember that even though you may be the only woman in the room day-to-day, there is an entire community of powerful women who are making waves in the industry, says Janine Yorio, CEO of Compound.

“Real estate is a male-dominated profession at nearly every turn,” she says. “It’s a very cutthroat industry to begin with, and then being the only woman in the room, or at a construction site, can feel very tiresome and futile.”

“It’s important for women in real estate to lean on one another for support, insights, and industry hacks,” Yorio says. As more women enter the industry, a network effect will take place, she continues. “In my experience, building a strong, powerful network, and having the ability to call on those people to help you at every step is critical. Future generations will be more likely to get into real estate if they can see there are powerhouses in the field who look like they do.”