Real Estate

“It’s up to the women”: The future of real estate is in your hands.

On Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be eliminated, all your big questions will be answered, and new business opportunities will emerge. Join us.

First Lady Eleanor Roosevelt wrote a book called It depends on the women. 1933 to help struggling American households cope with the Great Depression. Roosevelt, far ahead of his time, recognized that women were uniquely qualified not only to survive the worst economic period in the nation’s history, but also to be a unifying force to emerge from the crisis and move toward prosperity once again. can become

Finance and the way agents are paid are at the heart of all the struggles our industry faces, and as women have been fighting the wage gap since entering the workforce, it’s more important than ever for women. is to take control of their finances and potential earnings in their careers.

There are women. Majority and Motive Force of real estate; From the boardroom to the admin desk, we’ve historically held down the fort. Even when women didn’t have it. Fair representation In the industry, he was an insider at the very beginning of the field.

Here’s the best advice, skills and resources for hard-working women to build their best careers and exceed anyone’s expectations for the rest of 2024—and how they can help a struggling industry save itself. can do

Financial security should be your top priority.

As The American Dream It seems like circling the drain at this point, I can’t help but be impressed by the courage Roosevelt had to write his book to lift up and strengthen the hearts of the women of this country. For when she was going through a difficult time.

Although she wrote the book from a place of extreme privilege, Roosevelt did her best to relate to the problems of the typical American woman who, like herself, needed to care for her family and manage the household chores.

The advice he gave in the book ranged from practical to motivational, but there was a common theme that still holds true today—personal finances are the key to staying afloat in any economy, but especially a down one.

Step 1: Get clarity on your financial obligations.

Women have to be aggressive about how they are paid and who is paying them. Although Roosevelt’s book is full of money-saving tips and practical bootstrapping advice, trimming your already tight budget isn’t going to save your career. However, making sure that every dollar you earn is maximized to your potential will.

Statistics show that the majority of women struggle. Maintaining wealth and financial security more than men.

Why? It’s very expensive to be a woman, let alone an independent contractor. When you start adding up expenses, even if women are making more money than men, more often than not, they have more expenses.

Some of these costs are unique to women. Punishment of Mother/Motherhood, Child care, Health care, Pink taxand always present The wage gap.

You can’t estimate how much you need to earn for a stable lifestyle unless you have a solid handle on your expenses and responsibilities.

What’s the biggest deal killer for your financial stability? Unplanned Financial Surprises And as a woman, you know how devastating an unplanned financial shock can be on a budget already on life support.

Take action: Write down your expenses and make sure you have a game plan to pay each of them. Have an emergency fund that protects you from foreclosures and creates safety and security for yourself.

Some of my favorite financial resources for women:

Change of Mindset: Stop putting energy into making your budget work. Start putting energy into earning more income to close the gap.

Step 2: Make a commitment to yourself and your customers.

In the spirit of change and any competitive market, you can count on two things: your ability to get the job done, and your heart to provide authentic and reasonable customer service for your clients and customers.

Every customer deserves time in the transaction to educate themselves about their options and time for consideration. This is the secret sauce to controlling the Commission’s debate.

There are three steps you need to take to prepare for the changes ahead.

Action 1: Give yourself a raise—meet your broker and make sure your split is fair and free of unnecessary fees. It’s also time to evaluate how much your “home base” is affecting your ROI. I’ve met several agents who, after switching brokerages, added 15-30k (volume specific) to their bottom line just by ditching archaic and inflated distributions and brokerage fees.

Action 2: Educate yourself with the best solid advice and insights from leading female experts in the industry. Women Helping Women who run businesses like yours will help you find your way into advocating for yourself and your clients in commission negotiations.

Step 3: Document and disclose everything. The best agents I know keep solid records and receipts of education provided, communicate with clients and basically create a timeline of receipts to show not only that the education and Options were provided, but consideration and acceptance was acknowledged and recorded.

Documentation will save your soul and bring sanity and accountability to your business processes. I feel very strongly that every transaction and customer you support will be a customized experience, and this variable just calls for documentation. It also helps you build a workable accountability relationship on all aspects of the transaction.

Change of Mindset: Most women don’t need sales training. They just need real resources and tools that work and a support network that believes in them and removes the pain points and obstacles that slow them down.

Almost every woman I know wakes up on a mission to seize the day before the day that seizes them. What women need most is a pep talk, usually, despite the setbacks and unfair and unequal realities that life continues to throw at them.

Step 3: Build your voice with marketing

The final stage is the stage that is layered with the most action. Women need to take space and talk about financial, legal and social issues and create educational content that will build their professional portfolio. Could it be fun? 100 percent.

Will it take an investment of time and self-discipline like you’ve never had to practice before? Unfortunately, yes, 100 percent. To change the conversation about the value agents bring to the table, we have to talk about it, we have to get involved in our communities, and we have to take leadership and management roles so that we are in that position. But there are real changes.

The numerous stories of women who have come forward to share information about the bad and worst behaviors of men in leadership roles in our industry show that there is plenty of room for improvement.

In 2020, Freddie Mac released a report. Women leaders on reaching the upper echelons of financial services. This report is about the lack of women in leadership roles and strategies to help more women blaze a trail in these roles.

His secret? We have to help break down the barriers for women to get into these positions, and women have to push themselves out of their comfort zones to get there. Women, if you want to see real and meaningful change in our industry, you have to take an active role as a change maker.

Knowing how to market yourself, your brand and your message is essential to knowing what changes you can or want to make as you work to take on a more leadership role. What are the things you want to see? What improvements would you like to see for users? What can we collectively do to improve the overall experience for everyone in the industry and maintain and promote fair housing?

Become a marketing student. Forget the TikTok dance, focus laser on your message and how to get it across to your existing audience, and build a new audience.

Change of Mindset: I owe it to myself, my clients and the future of my industry to share my message and help create the change I want and want to see in real estate.

Final thoughts

If you know your mission and your purpose, it will change your life. Here’s my take: Conversation is ultimately about compensation, and if you want the conversation to be less chaotic and more orderly, you have to be willing to move on from people who are not only confused, but also angry. are and are afraid of change. , but also be willing to change direction on the fly as the complexity of compensation and representation demands it.

Our former first lady had many memorable and popular quotes, but a personal favorite is the following.

The pressure for women to take control of their personal finances and well-being is more important than ever for their careers, their personal success, but also the well-being of their future selves. There is a lot of pressure on women in our country to be vigilant about their safety, health care and caregiving responsibilities.

Take a stand for your career, and change your mindset and ask what can I do next instead of what I’m going to do now. Drive change, and if you need a pep talk, just know that you have an entire team of women here at Inman dedicated to bringing you the best, brightest, and solutions-based content. is to enrich your life and business. through any market.

Rachael Hite is a former agent, business development specialist, fair housing advocate, copy editor, and currently completing her long game selling forever homes in a continuing care retirement community in Northern Virginia. You can contact him about life, marketing and business. Instagram.

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