Why Do Women in CRE Earn Less?

ATLANTA—Women have come a long way in commercial real estate, but Lori Kilberg, a partner at the Hartman Simons & Wood commercial real estate law firm in Atlanta who began her one-year term as president of CREW Network in January, says there’s still a long way to go. Indeed, women are still not on par with me in the industry, according to industry research.
“Work hard, be passionate about what you do and be authentic,” says Lori Kilberg.
GlobeSt.com caught up with Kilberg to get her take on the challenges facing women in commercial real estate and her predictions for 2015 in part two of this exclusive interview. You can still read part one: How One Woman Networks for Success.
GlobeSt.com: Where do you think women in commercial real estate have made the most progress, and what remains their biggest challenge?
Kilberg: Women have unquestionably made great strides in the industry, and many have advanced to positions of influence. CREW’s collaborative approach to doing business and to “developing relationships to develop business” is one that resonates with Millennials and will continue to be an important model for the future.
Unfortunately, although there are many qualified women coming into the industry as well as in mid-level management positions, there is still much too great a discrepancy between the number of men and women in the C-suite. CREW’s research indicates that this is in part because of a lack of sponsors, for example, people who actively advocate for the advancement of women in their companies.
Pay disparities also remain. Our research shows that women in commercial real estate specifically, and in business in general, are less likely to negotiate their salaries or ask for promotions.
GlobeSt.com: If you were to give some advice to a woman just entering the commercial real estate industry, what would it be?
Kilberg: This is advice I give to any young person starting a career, and I believe it applies equally to men and women: Work hard, be passionate about what you do and be authentic. Take interest in your work and the people around you, be curious and ask questions. Find a mentor and a sponsor, and actively nurture those relationships—it’s hard work!
GlobeSt.com: What’s your quick prediction for how the commercial real estate markets in Atlanta and through the Southeast are poised to perform over the next 12 months?
Kilberg: I am optimistic. The multifamily sector of course has been on a record-setting streak over the past few years, and the office, industrial, and retail sectors continue to head in the right direction. Broadly speaking, I think a steadily improving economy and rising consumer and corporate confidence will result in a commercial real estate sector characterized by increasing occupancies and rising rents in 2015.
By: Jennifer LeClaire (GlobeSt.com)
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