It seems odd that there are more women than men selling homes, and yet studies show women earn less in residential real estate sales.
I have been wondering why, and came up with some possible reasons.
Women tend to be the nurturers, the relationship builders. It's hard not to build a relationship with someone who is buying or selling a home. By its nature, it can be a highly emotional situation. Perhaps women make less money than men do because they throw money at a transaction to get it to close, since they get emotionally involved in the outcome. Maybe they are more likely to be asked to cut their commission than men are. Or maybe women find it harder to say no when they are asked to do so.
Men could be more business-oriented, or at least they may be perceive as more businesslike and less nurturing. It might be more difficult to ask a male agent to cut his commission. Or a man might be less emotionally invested in all the drama that can occur in a real estate transaction. His clients will have to work out the deal without their agent kicking in some bucks to make it happen.
That is my hypothesis, anyway. What do you think? Is this a big reason for the earnings gap? The main reason? Or am I totally off base?
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I was not aware that the earnings gap was that different. What is the percentage or numbers? Interesting though.
Robin, I'm not sure where this statistic comes from, and I'm not sure that it's correct. Especially if one considers the time spent working as a factor. I think there may be a larger number of part time female Realtors than men. Just a guess though!
Robin, women may be more inclined to cut their commission than men but I also think the difference is that while there are definitely women who are superstar earners, there are more men in that category just because we are more competitive.
Once upon a time, many years ago, Time Magazine felt it was significant enough to devote a cover story to "their" amazing discovery that men and women are different. A break-though in liberal thinking.
So, while our Rights should be equal all else is different and Viva the Difference.
Whew, that was a lot of philosophizing. I have to leave now and originate another loan to crush my competition.
Robin, I think you are on to something and I agree with you. I also agree with Bill that in general men are more competitive and as you say, women are more nurturing.
When I lived in Houston, another agent remarked that a lot of (married) women are in real estate just so they can say they have a job. I don't know if this is true or not but a lot of people do hold a license who don't actually do any selling.
I don't remember what real estate publication I first read about this. It was a couple of years ago.
However, according to the 2001 NAR survey, in 2000, men earned $57,100 and female Realtors earned $42,900. Presently, women make up 60% of the NAR membership. I have been searching for more recent data, but unwilling to shell out the money for a more recent survey!
I too question the premise. In my office, some of the biggest producers and earners happen to be women. Looking further into our local market, the two top producers are also women. So, in our little part of the world, women enjoy parity with their male counterparts.
This is my theory to the gap difference. Men have more time. Woman agents have to spread their time between real estate, kids, shopping, dinner etc. But it's just a theory.