Moderator:
Kymber Lovett-Menkiti, President, Keller Williams Capital Properties, Washington D.C., Broker Relations Liaison, National Association of REALTORS® (NAR)
Panelists:
Rosey Koberlein, Chairperson, Long Realty, Tucson, Arizona
Linnette Edwards, Founder, Associate Broker, Abio Properties, Oakland, California
Wendy Papasan, Chair, Her Best Life; Owner, Papasan Properties, Keller Williams Real Estate, Austin, Texas
Sara Sutachan, Senior Vice President, California Association REALTORS®
Kymber Lovett-Menkiti: Does gender diversity make a company more productive? In a study of more than 1,000 leading firms across 35 countries and 24 industries, the Harvard Business Review found that in countries where diversity is culturally accepted, the answer is a resounding yes. Gender diversity resulted in increased production as measured by market value and revenue. That will come as no surprise in our industry, which has seen a steady rise in the number of women in the highest echelons of leadership. But what’s the special sauce that gender diversity brings to a company’s success, and how can we ensure that female leadership is not just encouraged, but nurtured?
Rosey Koberlein: Great leadership is built around two types of skill sets. The first is technical intelligence—an instinctive grasp of the ins and outs of business. The second is emotional intelligence—the ability to bond and create rewarding relationships which, tempered with a little humor, seems to inspire achievement. While any number of men share that admirable quality, it’s often second nature to women.
Linnette Edwards: That’s reflected in a study by GetSmarter, which notes that the most gender-diverse organizations increase their profitability by some 21%, primarily because women see solutions differently. They bring to the workplace diverse problem-solving and organizational skills as well as a talent for employee engagement.
Wendy Papasan: Those are some of the reasons that 11 female Keller Williams leaders—including Kymber—founded Her Best Life a couple of years ago. It’s an organization committed to amplifying women’s voices and providing the kind of collaboration and support that drives continued growth.
Sara Sutachan: Specific to real estate, too, is WomanUp!, an organization I helped to develop for the California Association of REALTORS®. It’s for women who already own and lead a real estate brokerage as well as those who want to do so. It’s an online community where you can mentor and share experience, best practices and failures as well as wisdom. It’s grown far beyond California boundaries, connecting outstanding women real estate leaders worldwide.
KLM: These are organizations whose basic premise centers on women empowering other women.
SS: Exactly. The fact is, women account for 66% of REALTORS® nationwide today, but represent only a fraction of executive brokerage positions. We still need all the help we can get in the journey if we’re to get to the top of our careers.
RK: Everyone has the capacity for the kind of emotional intelligence that helps drive a company’s success, but if the pendulum is swinging toward women leaders—and I think it is—it may be at least partially because women are more apt to provide precisely this kind of peer support.
KLM: Did you have that in mind when you named a woman to succeed you as CEO?
RK: Not really. I considered men and women equally. Renee Gonzales had proven herself by building a core service entity and was already a nationally recognized leader. I firmly believe all leaders should be considered on their individual merit.
LE: Absolutely. No doubt, men can be amazing, and everyone benefits when a company has visionary leaders, men and women alike. But I’m a fan of heart-centered leadership. That’s the kind of support I get from female mentors, and it’s been pivotal in helping me think bigger.
WP: Statistically, as we noted earlier, empowering more women leaders seems to be making the world a better place.
KM: Certainly it is in the world of real estate.
SS: Based on these studies, we’re about to release a white paper –“CAR’s Women’s Initiative: How Women Brokers are Reinventing Leadership in the 21st Century.”
WP: For many women, it’s a lack of confidence, not competence, that keeps them from reaching their leadership potential.
KLM: For that reason, as well as for the attributes they bring by virtue of being women, it seems we are agreed there is great value in gender diversity at the top, and much to be gained for any organization that recognizes and nurtures female talent.
LE: Yes, I think so. Being a leader can be lonely. Having a support network that brings varying perspectives on the issues can help us make more of the right decisions.
For more information, visit nar.realtor.
