Since its inception in 1908, the National Association of Realtors (NAR) has undergone a remarkable transformation, with women now accounting for 62% of its membership, according to data for the trade organization.
AceableAgent, an online real estate school, surveyed more than 600 female real estate agents near the end of 2023 to understand the motivations and experiences of women in the field.
“This is a great time for women to be in real estate,” Laura Adams, senior real estate analyst at AceableAgent, told HousingWire. “About two-thirds of agents are women, and that number is growing. We are seeing more women getting into the field, more women being successful, and we wanted to highlight that fact.”
In establishing their majority demographic, female respondents identified passion, income potential and flexibility as primary drivers behind their career choices. Additionally, 99% of the respondents reported being satisfied with their work-life balance.
Overall, the women surveyed expressed great satisfaction with their jobs, with 89% reporting feeling fulfilled in their real estate careers. Meanwhile, 87% reported being on track to meet their future financial goals, and 84% agreed that real estate has allowed them to achieve financial goals they didn’t think were possible in their previous careers.
Real estate can be a launch pad for women to improve their long-term financial prospects, the study found. While some women are using their real estate income to pay the bills, 34% are trying to pay off debt — especially Generation Z respondents who grapple with high housing costs and student loan debt. Meanwhile, 53% of respondents said they were looking to establish passive income and 56% wanted to become financially independent.
Because the AceableAgent survey represents 43 of the 50 states, income varied widely based on local market factors. Overall, 65% of respondents reported earning more than $55,000 per year, but the median wage for agents was about $77,500 in California and about $94,000 in New York in 2022, according to U.S. Bureau of Labor Statistics data. The median real estate agent revenue sits at $60,000 per year.
The flexible nature of the job appeals to working mothers, the survey found, with 61% of women reporting having more time to spend with family and 62% reporting having saved money on child care expenses.
Of those surveyed, 74% of women joined the real estate industry after having kids, which can be difficult in other industries. Education in real estate was also accessible to parents, according to 99% of the respondents, due to the rise of online courses.
Real estate is often a coveted path for career changers. In fact, 51% of respondents reported that real estate was not their first career path. According to NAR data, many female Realtors come from careers in management, business and finance.
