CREW Network Study Calls Industry for Greater Diversity in Commercial Real Estate
Lawrence, Kansas – The 2020 CREW Network Benchmark Study: Gender and Diversity in Commercial Real Estate, is a wakeup call—and a call to action for the commercial real estate industry. Study results indicate that our collective efforts to achieve parity in the industry are far from complete—in fact, very little progress has been made in the last five years.
The study, conducted in partnership with the MIT Center for Real Estate, measures progress for women over the last 15 years, capturing critical industry-wide data and benchmarking diversity in commercial real estate. It is the fourth comprehensive study by Commercial Real Estate Women (CREW) Network, the leading producer of research on gender and diversity in the industry, since 2005.
“We are calling on executives who can affect change to take this study seriously and take action in their company and in the industry,” said CREW Network CEO Wendy Mann. “CREW Network remains committed to creating a more diverse, equal and inclusive industry—but we can’t do it alone. Industry leaders must address these issues as a business imperative—and take action now to make this important investment in our companies, our employees, and the future of our industry to remain a competitive and attractive employer.”
“As an industry, commercial real estate clearly has a lot of work ahead in order to create a level playing field for women and minorities,” said Sadhvi Subramanian, a Capital One senior vice president and Mid-Atlantic Market Manager who helped facilitate the bank’s support of the research. “CREW Network’s work in shining a light on these disparities is crucial. Capital One is happy to serve as CREW Network Industry Research Program Partner and underwriter of this year’s study. Change can only happen when we work together as an industry.”
Key findings from the study:
Women occupy 36.7% of the commercial real estate industry. This percentage has remained between 35-37% over the last 15 years.
The study saw a 5.4% increase in women respondents 39 years old and younger, indicating a growing generation of young and emerging women professionals in the industry.
More women occupy brokerage than ever before (29%), a 6% increase from 2015.
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