Business Management Executive Q&A
Oct 31, 2007
CREW-Miami's marking its 20th anniversary tomorrow highlights both the opportunities and challenges women face in today's commercial real estate industry. The chapter's president, Dean Newberry, an industry veteran and director of interiors for Spillis Candela DMJM, is no stranger to this topic. CPN Editor Amanda Marsh spoke with her regarding women's roles in commercial real estate, what CREW is doing to further increase female presence in the industry and how women can grasp the many opportunities available to them.
CPN: You've been in the real estate market for 38 years. How have opportunities changed for women in commercial real estate since then?
Newberry: Women today have become a viable entity in the commercial real estate workforce. Unlike in previous decades, women are taken more seriously in a business setting and are acknowledged for their expertise. From development, brokerage and law to financing, insurance and construction, plus all the other entities that constitute the commercial real estate industry, opportunities are available more than ever and women just need to access them. Many of CREW-Miami’s members are top women leaders in their respective industries.
CPN: Why haven't more women considered commercial real estate? What sort of barriers do they face? Are there misconceptions that need to be addressed?
Newberry: Partly, women lack exposure to and knowledge of the myriad opportunities available to them in commercial real estate. Partly, it may be the perception that it is a male-dominated industry and one difficult to compete in, which keeps women from looking seriously at the careers open to them. Also, many of the employment opportunities are based upon commission-based income, which presents a concern to women who perceive this as a riskier financial situation.
In today’s commercial real estate industry, women can reach out and grasp opportunities, assert themselves by expressing their technical expertise, provide knowledge-based recommendations and in so doing find that the market welcomes their input and participation.
Many CREW-Miami women have found success in creating their own enterprises and business representations, through which they have achieved tremendous personal growth and self-empowerment. Ultimately, the barrier for some may be their concern about embracing the challenges and fear of risk.
CPN: What is key to attracting women into the field today, and what is CREW specifically doing to pique interest in the field?
Newberry: The key in considering the commercial real estate industry as a viable career solution is to expose and educate women to the numerous opportunities. Mentoring is very helpful. CREW-Miami, through its nationally recognized CREW Careers program, exposes high school girls throughout the nation to the many aspects of the commercial real estate industry. It is a hands-on, interactive six-week program that educates students on the various careers available to them. These young women are thrilled about the choices of careers that previously were unknown to them.
CPN: What can companies do to further diversify their employee base and attract women to work for them?
Newberry: In industries where few women are employed or lead in the market, employers may seek to identify and hire women candidates who are capable, bright and have the drive to achieve that leadership potential. They can facilitate these women in their goal with a strong mentoring program. Mentoring women within an organization will empower them to expand their capabilities, broaden their educational experiences and enable them to contribute significantly to the corporation. Identifying women who offer potential and assigning a mentor would be a significant first step for many organizations. As more women enter into a workforce, they attract others to follow and help in the mentoring process. There is power in numbers.
CPN: What can women do to further cement their place in the industry and achieve higher-level positions?
Newberry: Successful women take advantage of and expand their opportunities; they do the research and develop their expertise; they display leadership and advise their peers, clients and customers based upon sound recommendations. They build a reputation based upon performance, commitment and integrity. As they develop within their careers, they need to assert their expertise and negotiate for appropriate and competitive compensation within the marketplace. As they grow they need to train their replacement and offer a mentoring hand to other young women.
CREW-Miami's marking its 20th anniversary tomorrow highlights both the opportunities and challenges women face in today's commercial real estate industry. The chapter's president, Dean Newberry, an industry veteran and director of interiors for Spillis Candela DMJM, is no stranger to this topic. CPN Editor Amanda Marsh spoke with her regarding women's roles in commercial real estate, what CREW is doing to further increase female presence in the industry and how women can grasp the many opportunities available to them. CPN: You've been in the real estate market for 38 years. How have opportunities changed for women in commercial real estate since then?
Newberry: Women today have become a viable entity in the commercial real estate workforce. Unlike in previous decades, women are taken more seriously in a business setting and are acknowledged for their expertise. From development, brokerage and law to financing, insurance and construction, plus all the other entities that constitute the commercial real estate industry, opportunities are available more than ever and women just need to access them. Many of CREW-Miami’s members are top women leaders in their respective industries.
CPN: Why haven't more women considered commercial real estate? What sort of barriers do they face? Are there misconceptions that need to be addressed?
Newberry: Partly, women lack exposure to and knowledge of the myriad opportunities available to them in commercial real estate. Partly, it may be the perception that it is a male-dominated industry and one difficult to compete in, which keeps women from looking seriously at the careers open to them. Also, many of the employment opportunities are based upon commission-based income, which presents a concern to women who perceive this as a riskier financial situation.
In today’s commercial real estate industry, women can reach out and grasp opportunities, assert themselves by expressing their technical expertise, provide knowledge-based recommendations and in so doing find that the market welcomes their input and participation.
Many CREW-Miami women have found success in creating their own enterprises and business representations, through which they have achieved tremendous personal growth and self-empowerment. Ultimately, the barrier for some may be their concern about embracing the challenges and fear of risk.
CPN: What is key to attracting women into the field today, and what is CREW specifically doing to pique interest in the field?
Newberry: The key in considering the commercial real estate industry as a viable career solution is to expose and educate women to the numerous opportunities. Mentoring is very helpful. CREW-Miami, through its nationally recognized CREW Careers program, exposes high school girls throughout the nation to the many aspects of the commercial real estate industry. It is a hands-on, interactive six-week program that educates students on the various careers available to them. These young women are thrilled about the choices of careers that previously were unknown to them.
CPN: What can companies do to further diversify their employee base and attract women to work for them?
Newberry: In industries where few women are employed or lead in the market, employers may seek to identify and hire women candidates who are capable, bright and have the drive to achieve that leadership potential. They can facilitate these women in their goal with a strong mentoring program. Mentoring women within an organization will empower them to expand their capabilities, broaden their educational experiences and enable them to contribute significantly to the corporation. Identifying women who offer potential and assigning a mentor would be a significant first step for many organizations. As more women enter into a workforce, they attract others to follow and help in the mentoring process. There is power in numbers.
CPN: What can women do to further cement their place in the industry and achieve higher-level positions?
Newberry: Successful women take advantage of and expand their opportunities; they do the research and develop their expertise; they display leadership and advise their peers, clients and customers based upon sound recommendations. They build a reputation based upon performance, commitment and integrity. As they develop within their careers, they need to assert their expertise and negotiate for appropriate and competitive compensation within the marketplace. As they grow they need to train their replacement and offer a mentoring hand to other young women.
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