Real estate was considered a man's world for many decades. Breaking into the industry was difficult for women, so much so that they couldn't even buy real estate without a male co-signer until the 1980s.
Gunjan Goel
However, the industry has changed dramatically and is becoming more organized, competitive, and accepting, with increased penetration of female agents. Female buyers now account for 70-80% of all purchases. Businesses are slowly moving the needle by embracing the rise of female talent in executive roles, creating opportunities for them to lead the industry and break traditional barriers. More CEOs and women in leadership positions are needed in real estate to bring more stability and business to the sector.
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Here are the views of Gunjan Goel, Director, of Goel Ganga Developments on how Women play a vital role in investment.
1. As a woman with experience in the realty sector and keeping in mind real estate investing, how do you think the role of women has changed over time?
Real estate has witnessed a significant paradigm shift with the inclusion of female talent. Earlier, women working in the real estate sector were confined to only mid-management roles. However, women quite easily have broken the gender stereotype to contribute significantly in an unconventional yet thriving field, which is a testament to changing times. Interestingly, women have also carved a niche for themselves and are not only heading important divisions of global consultancy and prop tech firms but are also working independently as agents and brokers. At our company, Goel Ganga Developments, we give an equal chance to women in every department and strive to create a balanced ecosystem for their growth in the industry.
2. In the current scenario, How important do you think it has become for women to be financially literate and stable, and how can they do so?
The number of successful women entrepreneurs in this sector has grown over time. Not only that, but the proportion of women homebuyers or the importance of their vote in the home-buying process has increased from previous years. Women are now taking on a variety of roles and responsibilities in the real estate industry. Aside from being well-paying, a career in real estate offers a variety of opportunities for women's professional flowchart. It also serves as a stepping stone to future ventures by allowing them to significantly contribute to the household income or their savings. Women with substantial experience could also train and mentor new property advisors at various institutes that offer certification and degree courses in the field.
3. In reference to the industry and your organization, what factors have motivated them to plunge into this sector?
The industry itself has undergone a transformation, evolving into a field with a higher degree of professionalism that's well-suited to women. Firms now offer an inclusive workplace culture that values diversity, thus encouraging more women to take up the profession. The influx of foreign companies into the Indian real estate market is a major reason for the large-scale acceptance of women in this sector. With the industry moving towards becoming an organized domain, we need to see more female personalities taking on management and leadership roles across verticals.
4. Few suggestions or your last words for all the women out there who are unsure or afraid of finding their passion or career in real estate.
The real estate services industry is an excellent choice for women. Because I've had the privilege of working in the industry, I can say with authority that women should be aware that they have some innate qualities that can help them stand out and carve a niche for themselves. Women have good personalities, excellent networking skills, great vision, powerful communications skills, and smart sales tactics as natural characteristics. They must explore those aspects and qualities themselves in order to achieve higher leadership roles in the industry. At Goel Ganga too, we make sure we encourage more women to join every department of the company because we have seen them thrive in each role, whether it be engineering, technical, finance, sales, recovery, legal or human resources, with immense success.
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