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Even in Female-Dominated Industries, More than One-Third of Americans Agree Women Face a “Glass Ceiling,” According to Coldwell Banker Real Estate Survey

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Survey of 2,000+ employed U.S. adults reveals that 34 percent of Americans working in female-dominated industries, such as real estate, agree there’s a “glass ceiling” in their industry, making it more difficult for women to reach executive or senior-level positions

MADISON, N.J., Feb. 5, 2019 (PRNewswire) Industries such as real estate, healthcare and education are female-dominated*, however, at the executive level, there’s a stark lack of women. A new survey from Coldwell Banker Real Estate LLC, conducted online by The Harris Poll, revealed that 34 percent of Americans working in female-dominated industries agree that women in their industry face a “glass ceiling,” making it more difficult for them to reach executive or senior-level positions.

The Coldwell Banker Examining Women and Leadership Survey compares the leadership and professional ambitions of men and women who work in female-dominated industries, as determined by data from the U.S. Bureau of Labor Statistics. The survey found that in female-dominated industries, men are 75 percent more likely than women to hold an executive-level position. With this survey the Coldwell Banker brand aims to probe the causes of this gender leadership gap and then work to demolish the glass ceiling. One way the brand has already begun to address the issue is through its Women in Leadership Initiative, including a blog series that kicked off in 2018 with a post on narrowing the female leadership gap in real estate; the full series can be found here.

QUOTE:

“Women in real estate face an upward mobility challenge, and it’s our responsibility to help correct the gender leadership gap,” says Zoe Horneck, vice president of product marketing and communications, Coldwell Banker. “Our brand is supporting current and aspiring women leaders by providing formal management training, online courses and in-person networking opportunities at events including our annual Leadership Summit and Gen Blue® conference. Our Women in Leadership Series, which started as a series of monthly calls and blog posts and will soon add a podcast, allows female trailblazers to share their success stories and empower others to do the same. This May will be Coldwell Banker Women in Leadership Month, celebrating the tremendous work of women in real estate and encouraging more women to seek ownership and leadership opportunities. Our work has only just begun and we’re committed to ensuring that women across our network can envision a path to leadership and are given a variety of opportunities to exercise their leadership skills.”

Nearly two-thirds (64 percent) of working adults in the U.S. agree that working for a company that has female representation at the executive level is important to them, yet a full 41 percent agree that women have to work harder than men to earn an executive level position at their company.

Looking at the real estate industry specifically, the National Association of Realtors (NAR) 2018 Member Profile Report shows women account for 63 percent of all REALTORS®, yet more men lead real estate companies as a broker-owner** (52 percent) or a selling manager (57 percent).

Open dialogue about women as leaders in the workplace, mentorship and training, combined with opportunities to grow and lead, are critical to empowering women in all industries. However, among all employed U.S. adults, 40 percent say their company does not offer formal leadership training programs or sessions.

QUOTE:

“As the owner of the largest female-operated Coldwell Banker® affiliate, I’m motivated to inspire the women in my community to reach their professional goals,” says Lori Arnold, broker-owner, Coldwell Banker Apex in Dallas-Fort Worth, Texas. “Women succeed at our brokerage because of the continuous support from all members of our team and the initiatives of the Coldwell Banker brand to empower its agents. To me, being a female broker-owner means thinking outside of my comfort zone and saying YES to every opportunity for growth.”

ADDITIONAL FINDINGS:

Among U.S. adults working in female-dominated industries, the survey found:

  • Men are 20 percent more likely than women to state that they have asked a supervisor/boss directly for a raise or promotion.
  • Forty-two percent of women and 37 percent of men say they would be hesitant to ask for a raise or promotion even if they met most or all of the qualifications.
  • Men are 32% more likely than women to say that they have ambitions of one day holding an executive-level position in the industry they currently work in

CLICK TO TWEET: “Glass ceiling” exists even in female-dominated industries, such as real estate, according to 34% of American workers in those industries in recent @Coldwell Banker survey. https://bit.ly/2MMCxAg

For the full results of the Coldwell Banker Real Estate Women and Leadership Survey, please visit here.

If you would like to know more about what it means to be a Coldwell Banker affiliated agent, head to https://www.cbwomen.com and explore the possibilities of moving your real estate business to Coldwell Banker.

Methodology
This survey was conducted online within the United States by Harris Poll on behalf of Coldwell Banker Real Estate from December 4-7, 2018 among 2,252 employed U.S. adults ages 18 and older, among whom 861 work in female-dominated industries as defined by Coldwell Banker. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables and sample sizes, please contact Athena Snow (Athena.Snow@realogy.com) or Rachel Braude(RBraude@gscommunications.com).

About Coldwell Banker Real Estate LLC
Powered by its network of over 92,000 affiliated sales professionals in 3,000 offices across 47 countries and territories, the Coldwell Banker® organization is a leading provider of full-service residential and commercial real estate brokerage services. The Coldwell Banker brand prides itself on its history of expertise, honesty and an empowering culture of excellence since its beginnings in 1906. Coldwell Banker Real Estate is committed to providing its network of sales professionals with the tools and insights needed to excel in today’s marketplace and is known for its bold leadership and dedication to driving the industry forward with big data and smart home expertise. Coldwell Banker Real Estate was the first real estate brand to harness the power of big data; the CBx Technology Suite uses predictive analytics and machine learning to analyze markets, target buyers and sellers and provide agents with a simple platform to create unique and effective marketing plans for each listing. The brand was named among the 2018 Women’s Choice Award®Most Recommended brands for customer experience and overall quality. Blue is bold and the integrity and values of Coldwell Banker give the Gen Blue network an unbeatable edge. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. To join Coldwell Banker Real Estate and unlock the possibilities of Gen Blue®, please visit www.coldwellbanker.com/join.

Media Inquiries:
Athena Snow                                  Rachel Braude 
Coldwell Banker Real Estate LLC           G&S for Coldwell Banker Real Estate LLC
973.407.5590                                            917.595.3061
Athena.Snow@coldwellbanker.com          RBraude@gscommunications.com

*Female-dominated and male-dominated industries identified based on the U.S. Bureau of Labor Statistics Current Population Survey 2016 annual averages of employed people by detailed occupation.
**NAR defines a broker as a real estate licensee (including brokers and sales associates) acting as an agent or in a legally recognized non-agency capacity.

Women, Millennials, and Hispanics Will Shape the Future of Housing

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– Ten of the top 20 and seven of the top 10 fastest-growing buyer first names are predominantly millennial female names

– Home deeds with predominantly millennial first names grew 5.3 percent year-over-year

– Home sales associated with traditionally Hispanic first names increased 4.1 percent year-over-year

Santa Clara, CA – Jan. 9, 2019 (PRNewswire) The future of real estate will be significantly influenced by women, millennials and Hispanics, according to realtor.com®’s analysis of first names on 2018 home sales deeds.

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Single women are one of the fastest-growing demographics in the housing market, according to the data. Although older Baby Boomer and Silent Generation women are leading the charge, the increase in deeds with female names is particularly visible when comparing genders within the millennial generation. Looking solely at names with a peak year between 1981 and 1997, millennial female names are outpacing millennial male names, with home sales with female names beating male name home sales by 1.5 percent (6.9 percent versus 4.4 percent on average year-over-year, respectively). Seven of the top 10 fastest growing buyer names are predominately millennial female names, and all of them peak in the 1980s and 1990s.

Overall, Hannah, Austin, Alexis, Logan, and Taylor — of which three are predominantly female names — were the top five fastest growing first names on home sales deeds in 2018, with their frequency seeing an average increase of 22 percent from 2017. While Michael, John, David, James, and Robert were still the top five first names on sale deeds by sheer volume, these names saw a 3 to 5 percent decline over 2017.

“First names associated with women — especially millennial women — saw a significantly faster level of home sales growth in 2018, giving us a sneak peek of homeownership trends in 2019,” said Javier Vivas, director of economics research at realtor.com®. “Hispanics and millennials names overall also saw a surge in home purchases last year. If these buyers can continue to break through the affordability barrier, they are likely to make up a larger share of owners than ever before and dominate the market for years to come.”

Back-To-School Infographic (PRNewsfoto/realtor.com)

Back-To-School Infographic (PRNewsfoto/realtor.com)

Millennials are NOT the rent generation
In 2018, home sales with millennial names(1) increased 5.3 percent, followed by Gen X names at 0.8 percent. Names of Boomers (born 1946 to 1964) and the Silent Generation (born before 1945) fell 2 percent and 3.5 percent, respectively.

Geographically, millennial buyer names are particularly overrepresented in Kansas, Indiana, Louisiana, Missouri, and Utah – states where housing affordability remains above national levels – confirming that jobs and availability of entry level homes act as magnets for young buyers.

The rise of Hispanic influence
Deed data also shows a growth in Hispanic names. In 2018, home sales associated with traditionally Hispanic names and partially Hispanic names increased 4.1 percent and 3.7 percent, respectively year-over-year. While sales with non-Hispanic names remained virtually flat at 0.1 percent year-over-year.

Notably, 26 of the top 100 fastest-growing names are traditionally of Hispanic origin. Within this category, Hispanic buyer names skew slightly older than their non-Hispanic counterparts, with a median birth year of 1979 and 1982 respectively.

Geographically, Hispanic buyer names are naturally concentrated in the South and Southwest. California, Texas, Nevada, New Mexico, and Arizona are among the top states, unsurprising given their proximity to Central America. On the East Coast, sales to buyers with Hispanic names are overrepresented in Florida, Illinois, and New Jersey, where demand for homes from domestic and international buyers of South American and Caribbean origin tends to be concentrated.

Chart

Methodology
This analysis looks at all arms-length, residential non-corporate transactions for the period of January through September 2018. Sales for 2017 are also analyzed to enable year-over-year comparisons.

Realtor.com® compared name demographic data from the Social Security Administration to deed record buyer information to understand how younger age groups are expanding their influence in the housing market. For example, the data showed that half of Hannahs were born before 1993, and 80 percent of them between 1987 and 1997, thus giving Hannah a high likelihood of being a millennial buyer. Millennial names are identified as those peaking between 1981 and 1997, Gen-X names between 1965 and 1980, Boomer names between 1946 and 1964 and Silent names before 1946.

Buyer names are identified by parsing the first name from the primary name on the deed record at the time of the transfer of ownership. Middle names and last names are not parsed. In cases when the deed has more than one buyer name recorded, the information is used to identify multi-name deeds but non-primary names are not parsed. Some limitations include home buyers not always going by their first name and not all names listed as primary are necessarily being heads of the household.

For more details on methodology, visit www.realtor.com.

About realtor.com®
Realtor.com®, The Home of Home Search℠, offers an extensive inventory of for-sale and rental listings, and access to information, tools and professional expertise that help people move confidently through every step of their home journey. It pioneered the world of digital real estate 20 years ago, and today is the trusted resource for home buyers, sellers and dreamers by making all things home simple, efficient and enjoyable. Realtor.com® is operated by News Corp [NASDAQ: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.

1. The birth year for all five fastest-growing primary buyer names peaked in the early 1990s, with an estimated median year of 1993. All but one of the top 20 fastest-growing names peaked between the 1980s and 1990’s, with an estimated median year of 1989. The one exception is Victoria, a timeless name that peaked once in the 1950s and again in the early 1990s.

Media Contact:

Lexie Puckett
Lexie.Puckett@move.com