Women within Real Estate Transactional Teams experience greater progression hurdles than men: A review of Real Estate firms from a gendered perspective

This research project seeks to understand the relationship between gender, progression and promotion within transactional roles in the Real Estate Industry and also seeks to explore the current experience of women working within transactional teams, aiming to provide guidance for real estate firms on how they can support more females to progress to senior positions within Real Estate Transactional Teams. The number of women entering surveying firms has steadily increased in recent times (RICS, 2022) and this increase is reflected within transaction teams. However the number of senior females within transactional teams is not reflective of the wider real estate industry, showing an upward mobility limitation. There seems to be an indication that this may be mainly because of a masculine culture found within Real Estate and the effect and impact of this is significantly entrenched, even if not completely visible. This paper will primarily seek to understand why this is, and then seeks to understand why women, specifically within transactional teams and departments, are even less likely to progress or be retained. This research project will initially provide a review that analyses themes of existing research within real estate and associated industries such as construction and finance. Topics such as policies that promote increase female representation within Real Estate firms, Female representation on Leadership boards, as well as themes relating to lack of female role models, flexible working, bias and fee-earning culture, will be addressed. To conclude, an analysis of the factors preventing women from progression to senior roles will be presented. Primary research has already been conducted dating from 7th June 2022 and spanning two weeks. It was conducted via a survey to 65 respondents working within the Real Estate Industry. Semi-Interviews were also conducted with senior members of transactional teams, both female and male, and this allowed for a more in-depth appreciation of findings. These initial findings have pointed to several fundamental reasons for the drop-off of women between graduates and senior management mainly relating to life commitments; unequal parenting expectations, masculine workplace culture including networking and male banter, lack of senior female role models. It also shows that women within transactional teams do not experience significant negative bias during the recruitment/hiring process, and there actually being a significant positive discrimination towards females in the hiring process. With regard to progression and promotion specifically it shows that women mainly require more experience or qualifications in comparison to men to be promoted.