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Seeking Diversity Advocates in CRE

The commercial real estate industry has been increasingly called upon to correct and amplify its protocols regarding gender inequality. The historically male-dominated field continues to display prominent gender inequity throughout the industry, across leadership positions, salaries, advancement opportunities, hiring practices and more.

According to CREW Network and MIT Center for Real Estate’s 2020 Benchmark study report, men in commercial real estate make about 10% more than women in their base salary. However, with annual commissions and bonuses, men earn an average of $144,000, while women earn $42,000; representing a 70% gap.

However, as more executives recognize the fundamental benefits that women in leadership can bring to the table, more and more industry organizations are prioritizing diversity and inclusion initiatives. 

As a step in the right direction, many commercial real estate companies, both established institutions and entrepreneurial start-ups, have recently amped-up their efforts in correcting this disparity through various initiatives, recruiting practices, educational and advancement opportunities, internal programming, equal pay, newly-formed committees, roundtable discussions, etc.

Thanks to the efforts of professionals that persistently promote the cause of gender equality within the industry, many companies are now appointing more women to crucial leadership roles, creating new positions to lead diversity & inclusion efforts, and altering protocols to provide equal opportunity to all.

With this in mind, GlobeSt. is offering a Diversity Champion nomination category within the 2024 Women of Influence awards. In addition to the various nomination categories in which candidates may be submitted for the awards, GlobeSt. will honor both men and women that put forth immense effort toward furthering gender equality.

The Diversity Champion nomination category is designated for individual commercial real estate professionals, both male and female, that persistently champion the cause of female advancement and diversity within the industry. Serving as pioneers and advocates that empower and encourage women within the field, these men and women push diversity initiatives forward, personally lead inclusion efforts and cultivate cultural change in the workplace and the industry as a whole by prioritizing gender equality.

Aiming to recognize these catalysts for change and equality, GlobeSt. invites you to nominate a male and/or female professional that insistently promotes gender equality within commercial real estate. If you know of a well-suited individual that is deserving of this recognition, please submit a nomination before the extended submission deadline of March 4.

The 2024 Women of Influence will be profiled on GlobeSt.com in late July and they will additionally be honored at the annual GlobeSt. Women of Influence awards dinner, which will be held in Lake Tahoe, CA on July 23, 2024.

Reprinted with permission from the Mon, 26 Feb 2024 08:45:30 EST online edition of GlobeSt © 2024 ALM Media Properties, LLC. All rights reserved. Further duplication without permission is prohibited, contact 877-256-2472 or reprints@alm.com.