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Sign upInsightful new Granger Reis research examines gender disparity in real estate leadership
News / 11.11.2024
Real Estate Balance member Granger Reis has released a new report on gender equality in real estate and the actions required to enable progression of the next generation of female leaders.
The initiative, backed by our Policy and Campaigns Committee (PCC), saw the global executive search agency gather qualitative and quantitative insights from 172 women in roles from middle management to senior leadership through a series of in-depth interviews over a period of 18 months.
The Legacy Project: Engendering Change in Real Estate for the Next Generation of Female Leaders was recently launched at fellow Real Estate Balance member Simmons & Simmons in London, where the panel of property professionals below discussed the findings:
- Jessica Middleton-Pugh – Residential and Retail Editor, Green Street News (Chair)
- Kate Craig Waller - Partner, Real Assets, Granger Reis
- Michela Hancock - Managing Director, Greystar Europe
- Ciaran Bird - CEO of UK and Ireland, CBRE
- Kate Curneen - Partner, Simmons & Simmons
You can download your copy of The Legacy Project HERE.
You can also read Jessica’s report on the research and event in Green Street News HERE.
The research explores gender balance in our industry and the development of inclusive cultures, and looks at how to address blockers to equal senior representation.
Key findings from The Legacy Project include:
80% of the women said a lack of flexibility was the primary reason they would consider leaving real estate and 70% cited the lack of career progression opportunities.
65% raised childcare and family commitments as possible drivers to leave real estate, with close to 80% of the participants aged between 35 and 54, the ages where the burden of caring has traditionally fallen onto female shoulders.
75% of the women agreed with the statement: “It is more difficult for women than for men to enter executive positions in real estate”. While 67% of the women said people from all genders are not treated equally in our industry, the majority also agreed that organisations are trying to celebrate diverse ideas and people.
The participants in the research also shared their views on possible solutions to increase opportunities for women to progress to senior leadership positions.
Flexible working
72% said they wanted better balance for their home and work commitments.
Promotion and development
65% called for more women to be recognised internally and promoted from within organisations.
Visible role models and male allyship
60% highlighted the importance of role models and allies in overcoming gender bias and widening opportunities.
Support systems and networks
55% believed that increasing understanding and mentorship will help make a difference.
Michela, who co-authored the report and has recently left our PCC after four years to join our Board of Directors, said:
"The Legacy Project is a clear call to action from women to ensure they not only stay working in the sector but also to help them thrive and progress in their roles.
"We know the level of demand the job brings and this is not about finger pointing – but we also know from many areas of our industry there are positive ways to create environments where work can be more balanced alongside family and personal life.
"Through The Legacy Project we want to work with partners in the sector to really understand the impact on women – and by association also men – so we can crucially retain the talent we have and attract more women in the future."
Sue Brown, our Managing Director, added:
"This research gave female leaders a platform to share their unfiltered experiences and improve awareness around gender equality across the real estate sector.
"It’s a positive step toward making gender-equal leadership a reality now, and in the future."
Granger Reis intends for The Legacy Project to be the first part of a longer investigation to ultimately bring about lasting, impactful change, and everyone at Real Estate Balance looks forward to supporting those efforts.