The real estate industry is represented by 51% male and 49% female, showing that both sexes are fairly represented. However, numbers are skewing in relation to job roles, with females more likely to be property managers and assigned administrative positions, while males are mostly in sales and principal roles.
One of the most effective strategies that could make the industry better among buyers and sellers is to encourage more women to become sales agents and even principals. Research reveals that women agents are significantly more capable of empathy, communication and accountability. Human skills that sellers view as the symbols of an “excellent” real estate agent.
According to CoreLogic RP Data’s recent Consumer Perceptions of Real Estate Agents, there is considerable contrast in the degree of satisfaction experienced by vendors when dealing with female agents compared with male agents.
Women were regarded as more helpful by vendors compared to men, with respondents saying women excel in making sure they know all facets of the sales process.
At no point, were the more than 300 respondents asked to assess the behaviour of their agent based on sex. They were simply asked early in the survey what the gender of their agent was. The data was analysed according to sex to determine how those behaviours compared between men and women.
Here’s what property sellers experienced during the sales process.
Before the start of the sales process, 59% of female agents and 58% of male agents were able to assure their clients that they would perform well and obtain a good price for their property.
Once the sale began, the confidence levels in female agents went down to 55% and the levels for male agents dropped to 48%. More than double that of female agents.
After the property was sold, 45% of respondents with female agents stated they were happy with the final result, versus 39% for those with male agents.
Female agents were also found to be regarded as more likely to be graded as “excellent” at major skills compared to male agents (such as handling open inspections – women 41% / men 33%, providing regular feedbacks – women 45% / men 31%, following up of possible buyers and leads – women 43% / men 29%, negotiation skills – women 38% / men 28%, etc.). Female agents were also more than twice as likely identified as managing the sales process with expertise – 42% female compared with just 28% for male agents.
An important finding from the survey was that getting the expected, or higher, price is a hygiene factor for sellers. Agents are expected to get the price they promise they will.
Gender was not a factor in the likelihood of a seller endorsing them to family and friends, with 68% of respondents with male agents and 69% with female agents stating they would willingly endorse.
I have to agree with CoreLogic RP Data’s findings in this survey and wholeheartedly believe that more women in Newcastle real estate will increase the level of consumer perception of real estate agents.
To experience the female difference contact our office and ask Annette to sell your property.