Daughters are the New Sons in Real Estate
How more and more daughters are taking over and running their families real estate business.....
Leaving Wall Street, for Lara and I, was a no brainer. Join the family business; have work life flexibility, not have a ceiling on salary, be our own boss and one day take over the company? Who could turn that down?! Unlike residential real estate, where women equally dominate the space, commercial is a much more male dominated environment. This can be a bit intimating to some but to us, it was a challenge and something that we had been experienced with coming from Wall Street. We can easily do the same deals as our male counter parts and who’s to say we can’t do a better job??? Some women in the industry feel that they have something to prove alongside their male counter parts but if you are smart, know what you are talking about and can not only walk the walk but can talk the talk then you are a unicorn in a room and this often works to your advantage. Thick skin is a must in this biz. If you want to be taken seriously then you need to check your sensitivity chip at the door. There is no room for hurt feelings when trying to get a deal done; business is business. Having a family history in the industry opens doors but does not get deals done.
One of the tips we have learned is to know “when to call it.” Events such as the ICSC out in Vegas are a bit of a slippery slope to navigate as women. You are there to make deals and do business and often times the line gets blurred during some events that have a social element to them. As a professional, politely declining the invite to the after party in our experience has helped to keep the line of professionalism extremely clear. Another tip we have learned is not to be embarrassed to be proud of what you have accomplished! Acknowledging, “Hell yea, we closed that deal” should be done more often by women. Women have a tendency to downplay what they have done and be very humble with their accomplishments. Men, on the other hand, often have a bravado type of approach and boast much more about what deals they have done. This is not a bad thing at all as it actually helps in the long run and it is critical for women to be okay with the humble brag as it shows their hard work and accomplishments off just as their male counter parts would be doing!
So here’s to the real estate daughters of the world! The industry has never looked brighter for both SONs and DAUGHTERs.