How Is Technology Enabling Women to Gain a Greater Foothold in Real Estate?

Women of today are making remarkable strides in every domain of real estate across India. From sales pitching to luxury marketing, property development, and everything in between, they are excelling in every aspect of the industry —Shivani Karia, Co-Founder & CMO

The idea of gender equality is now embraced wholeheartedly in India, opening up a multitude of opportunities for women to drive change across various industries. Women are increasingly visible in fields spanning education, arts, medicine, technology, and beyond. Notably, this year has seen a significant rise in the presence of women in the real estate industry, both as professionals and consumers.

Earlier, people considered real estate investments a club dedicated to Indian men. As a result, women weren't spending time and energy on making any investments and didn't even get the chance to learn about them. 

But this is a changed era now! 

Fintech and real estate are coming together to empower entrepreneurial women. Today, women are taking up leadership roles in the real estate industry and are becoming the decision-makers for organizations. Following that, women are also entering the era of investment and are securing their future by actively being part of real estate trends in the country. Either way, women are contributing to the upscaling nature of this industry. This post will discuss how the era has changed for women in the real estate sector. 

Women Leveraging Technology to be part of the Real Estate Sector in India

As of 2023, there's a report that 7 million women are employed within India's real estate sector. The count is less in comparison to the 50 million men in the industry. Primus Partners, in collaboration with World Trade Centre, shares this statistic. 
These numbers might have a big gap, but let's see the positive side. The number of women in the real estate sector has dramatically increased in the past few years. And at this rate, there's a possibility that one day the number of men and women in the industry will nearly be the same. 

As per the National Association of Realtors (NAR), around 65% of all the realtors in the industry are women. But, in terms of leadership, women are represented less in comparison to men. The real estate industry has shown a gesture of acceptance of ladies across all departments. 

Furthermore, female membership within NAR has also witnessed the rise of women's power. NAR has seven women members elected as presidents. Women are also picking up the pace in the commercial real estate sector, comprising 36.7% of the entire workforce. It might be less than the number of women in residential real estate, but the statistics are all set to improve in the forthcoming times. 

Technology has helped women adapt to this complex sector and thrive in it. Today, various tech tools exist for planning, managing and executing real estate operations. As women are more adaptable to new technologies and integrate them into their routines, this has helped them penetrate the real estate sector. 

Women use technology to decide how a property should be marketed, displayed and pitched. And such a knowledgeable integration of technology has helped India's real estate sector sell many residential and commercial properties in the past few years. 
Considering the contribution of women in real estate and other industries, United Nations and UN Women celebrated gender equality under a theme called DigitALL on the occasion of International Women's Day, 8th March 2023. This celebration motivated and encouraged the girls and women who have advanced the utilization of digital education and transformation technology in various industries. 

Women have Now Entered the Arena of Making Investments!

Apart from being working professionals, a recent statistic has also stated that women are actively becoming home buyers in India. It directly results from women's access to modern-day technologies, making them more financially independent. 

Today, India has a plethora of successful women entrepreneurs, and this encouragement has made many women professionally secure across the nation. Gone are the days when men were the primary home-buying decision-makers. 

The advent of digitalization has empowered women across the country to conduct thorough research on residential and commercial properties. With a plethora of options at their fingertips, women are now more receptive to considering various alternatives. This is where proptech solutions like Blox come into play, providing them with the tools and resources necessary for efficient decision-making. By leveraging such platforms, women can make informed choices with greater speed and accuracy.

To help you with an in-depth insight into the rise of women in the property-buying arena, here's a 2017 statistic by Track2Realty. As per the report, women have contributed to the real estate sector, with 74% of the buying decisions as influencers or contributors. 32% of those home purchases were by single women. 

Hence, this old statistic showcases how women in the real estate sector have been booming for a long time. The growth is nowhere halted and will never be! 

Conclusion

Hence, this is how technology has helped women surpass gender barriers and enter a demanding and challenging industry. Today, women are not just agents or home buyers but are also property developers. Using technology and accumulated data, they decide what properties should be built and where. 

Hence, the real estate industry of India soon intends to see more women in leadership positions by climbing up the ladder of success. And with such adaptability skills, it is not a dream of the future!