In the modern world, women struggle in many ways to find equal financial footing. Women make less money than men for doing the same work, with additional discrepancies between white, Black, and Latina women. It is true, of course, that women have made substantial gains in the past few decades; women open more businesses, generate a higher percentage of American jobs, and their businesses earn higher revenue.
But there are still significant barriers for women in the business world. They face both sexism and racism everywhere, from coworkers to potential lenders. They also are more likely to be single mothers who need to balance caring for children and holding down a steady, reliable job.
While there are many different ways that women can ultimately generate good, independent income, real estate can be one of the most effective. Both by owning a portfolio of passive real estate and by working as a real estate agent, women can get themselves into a more empowered position. They can better leverage their talents in society and fight to help women who are still struggling to also find more steady financial freedom.
Why Working As A Real Estate Agent Can Be A Game Changer
Real estate is one of the fields where women seem to be gradually increasing their presence. While only 11% of women hold a C-suite position in real estate, 63% of realtors are women. Most realtors are sales agents, and most sales agents are independent contractors, but even at this level, women can experience significant freedom when compared to many typical jobs.
- Realtors can often set their own hours. This allows women to work around any kind of childcare issues or work from home when someone is sick.
- Setting up a real estate business is not particularly expensive, when compared to other startups or franchises.
Shelton Wilder, who went on the TV show Shark Tank with a fashion project, later changed careers and began to explore real estate. Her first project was incredibly eventful: “I was in the hospital having my son. I was running around helping my client find a house eight or nine months pregnant. We were in escrow and I had my baby. When we did the walkthrough my child was eight days old. I brought my eight-day-old baby to the walkthrough.”
Owning Real Estate
Owning real estate, however, is another serious game changer for many women. Real estate can be purchased for several different reasons, which affect what type of real estate to buy and when. For example, a person who was purchasing property in order to sell it off and use the income to send their child to college would invest differently than someone who was looking to earn passive income for years to come.
While owning property isn’t a guarantee of generating income, British developer Sarah Beeny has said “In any market, in any country, there are developers who make money…there will always be people who make money, because people always want homes.”
According to Matt Sridhar at Sridhar Equities, selectively acquiring assets with significant value-add potential and strategically reposition them by employing core competencies in finance, construction and asset management. The resulting transformation often sparks a revitalization in the communities.
There are three basic ways to make income from buying and owning real estate.
Over time, property will often increase in value. Many investors purchase property with the goal of eventually selling it. When choosing a property to purchase, it’s important that investors do a great deal of research. After all, if property is purchased in an area where property values are flat or falling, the investment will not be worthwhile over time.
Many investors choose property that can be used as rental property. Depending on how the property is managed, the building can then become passive income. It may also be possible to develop a business around rental properties in various areas. Some investors choose to hire someone else to manage their property; others choose to be more directly involved.
Income can also be generated from services provided on the property. A few examples from The Balance include generating money from on-demand movies, in-house food service, or extra amenities in a hotel. In an investor owns a building with rental spaces for businesses, they might earn money from vending machines and other in building amenities.
While there are many different businesses and options that women can use to create income and find a significant sense of empowerment, real estate may be one of the best. Investing in real estate offers someone something tangible, and if it is managed well, a person can earn significantly more money than they can through other kinds of investment. Research is absolutely required, and it may be beneficial to seek advice from someone more experienced before making an investment.
In general, when women achieve better financial stability, an entire community can benefit. It makes sense, therefore, for women to be empowered through real estate investment. For both personal and societal reasons, seeing gains made here can be better for everyone.