Through New Leadership Programs and Expansion of Dedicated Event Series, What Moves Her Intends to Help More Women Industry-Wide Find Their Path to Success in Real Estate
Madison, N.J. – March 25, 2021 (PRNewswire) — Realogy Holdings Corp (NYSE: RLGY), the largest full-service residential real estate services company in the United States, today announced the expansion of What Moves Her℠, a trailblazing campaign that supports the growth of women in real estate. With new opportunities available industry-wide, including all affiliated brokers and agents of Realogy’s residential real estate brands Better Homes & Gardens® Real Estate, CENTURY 21®, Coldwell Banker, Corcoran Group®, ERA®, and Sotheby’s International Realty®, What Moves Her aims to educate and inspire more women real estate professionals who are interested in accelerating their careers.
Launched in 2020 as a campaign for Coldwell Banker’s women leaders by former Coldwell Banker Realty Executive Vice President and newly named Realogy Franchise Group President and Chief Executive Officer Sue Yannaccone, What Moves Her aims to inspire and support all women to find their path to leadership and business success in real estate. In its first year, a launch event and ongoing virtual conversation series, Portraits of What Moves Her, helped guide more than 5,000 women and provided them with tools and strategies to help them continue achieving success in their personal and professional lives.
“As a Fortune 500 company recognized for its focus on gender diversity and acclaimed for its female executive representation, Realogy is especially proud of its reinforced commitment to advancing women in leadership through What Moves Her,” said Yannaccone. “What started as a personal passion for helping other professionals find their voice, What Moves Her has become an incredible platform to not only help women grow in every stage of their career but to also encourage women to support each other across the real estate industry. I am excited to help even more women realize their full potential as leaders this year and beyond.”
Today, a majority of real estate professionals are women, according to the National Association of REALTORS® (NAR) 2020 Member Profile report, representing sixty-seven percent of all real estate agents and sixty percent of all brokers and broker associates. To help accelerate the advancement of women real estate professionals, the expansion of What Moves Her, broadening throughout the year, aims to bring new opportunities to women at Realogy and across the industry interested in realizing their professional development goals.
With a deep focus on education, these opportunities will include leadership programs exclusive to our Realogy-affiliated brokers and agents that encourage cultivating a gender diverse, equitable and inclusive culture and a What Moves Her virtual event series, open to the industry, tackling topics that encourage women to support one another, their businesses, and their communities.
“As a female team leader, it is important for me to be affiliated with a company that supports the values of female empowerment and leadership,” said Dawn McKenna of the Dawn McKenna Group with Coldwell Banker Realty. “My team is comprised of 94% women, so providing the right mentoring and ensuring a nurturing business environment is an integral component of our team’s success. The What Moves Her campaign has provided inspiration, education and enhanced motivation that aids in the success of our business.”
For more information about What Moves Her, to receive event invitations or to get involved in this trendsetting campaign, visit www.whatmovesher.com.
New York, NY – March 8, 2021 (PRNewswire) Single women are becoming homeowners at a faster rate than single men, accounting for 19% of first-time buyers compared to 11% of unattached men1. The median age of these female buyers is 33. Great, right?
Millennial ladies are shoving the men aside and ascending the throne of real estate royalty. They’re deciding that home ownership is worth it—after knowing what it’s like to rent and understanding the benefits of owning a home, like having the option of taking out a home equity loan for debt consolidation. However, a closer look at the data shows that women ultimately purchase homes at higher prices and sell them at lower costs than men (boooo!).
Why single women are invested in home ownership
Women are getting married and having children later in life, focusing more on their careers. They make up just over half of all payroll jobs in the U.S., coming in at 50.04%2. They have the resources to purchase real estate and realize that home equity is both a smart investment and a tax benefit. This might explain why single women own approximately 1.5 million more homes than single men in the 50 largest U.S. metro areas.3
But once you parse the data, the outcome for women is shown to be far less encouraging. One recent study4 from Yale shows that single women purchase homes for 2% more than single men. When mortgages are taken into account, assuming 20% down and 80% financed, this increases to about 7%. They then sell their homes for 2% less. So, what’s the deal?
5 reasons why women lose overall in home ownership
1. Less purchasing power: Women currently earn 81 cents on the dollar compared to men, translating to less purchasing power when it comes to buying homes. This likely contributes to the fact that single men buy more expensive homes. The median home purchase price for single men is $215,000, compared to $189,000 for single women1.
2. Homes appreciate slower: Homes owned by single women are less valuable and consequently appreciate at slower rates. Furthermore, one study shows that this gap widens over time. After 15 years, homes owned by single men were worth 17% more than homes owned by single women5.
3. Women negotiate lower discounts: The Yale study notes that single women receive smaller discounts on homes than single men do. Women also agree to bigger discounts when selling.
The biggest price discrepancy happens when a woman is selling and a man is buying. And it looks like there’s a reason why they don’t try to play hardball. Research shows that women who negotiate are viewed less favorably than their deal-making male counterparts6.
4. Men take more risks; make upgrades: Men are more likely to purchase riskier properties than women, which can offer higher returns. Guys are also more likely to invest in housing upgrades.
5. Men have better market timing: Single men have better market timing than single women. No, men don’t have a crystal ball or a tingling spidey sense for when the market is hot. One hypothesis from the Yale study is that women deal with more time constraints on when they can buy and sell due to them being more likely to have children/care for dependents.
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
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.
*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.
