The Top Women in Real Estate Who Defied Stereotypes

TASHA OSBOURNE, BA – PREMIER SOTHEBYS INTERNATIONAL REALTY

Women have an illustrious history in the real estate industry — but it’s not a very long history. In fact, in the U.S., female aspiring homeowners weren’t even allowed to finance purchases on their own until the 1970s. Thankfully, women have achieved high levels of real estate–related success since then, both as homeowners and as industry professionals. Here are some of the most interesting stats, outrageous facts and impressive figures in the history of women in real estate.

• Before 1974, women were not legally permitted to obtain a mortgage without a male cosigner. Today, women actually outpace men in getting mortgages: 19 percent of today’s single homebuyers are women, compared with just 9 percent single men, according to the National Association of Realtors (NAR). In fact, single women have bought more homes than single men every year since at least 1981.

• Some 64 percent of all Realtors today are female. In 1908, when NAR was founded, that percentage was zero — the group was 100 percent male. The first woman was admitted to its membership in 1910, however, and by 1975, a third of its members was female. (In other words, a woman was allowed to sell a house long before she could borrow to buy one.) NAR named its first female president in 1992.

• The primary author of the Housing Act of 1937 (aka the Wagner-Steagall Act), which provided subsidized residences for low-income citizens for the very first time, was Catherine Bauer (1905-1964). An outspoken advocate of affordable homes for all — her book “Modern Housing” remains an oft-cited classic in the field — Bauer advised three different presidents and an array of federal agencies on urban planning for 30 years.

• Today, many women work in the home title industry as well. However, that wasn’t the case until the 1920s — in fact, when the American Land and Title Association (ALTA) was first established in 1907, it was called the American Association of Title Men. They changed that in 1923, and ALTA had its first female president in 2000.

Women have been rising to the top of their industries and these women are no exception. Meet the former homemakers who are now dominating the real estate market.

Maryanne Gilmartin is one of the most influential leaders in the New York commercial and residential real estate business. She is the president and chief executive officer of Forest City Ratner Companies, the New York office of Forest City Realty Trust, inc. Some of the more high-profile real estate projects that she has been involved with include Pacific Park Brooklyn, The New York Times Building and the New York by Gehry building. Over the years, MaryAnne has been recognized for her contributions and active involvement in not just the New York real estate industry, but also in the New York art and communications scenes. She is a current board member of the Brooklyn Academy of Music and is a current member of the board of trustees for New York Public Radio.

You probably know her best from her involvement with the popular TV show, Shark Tank. But Barbara Corcoran is much more than just a talking head on a successful TV show. The once New Jersey diner waitress turned millionaire is a hard hitting, quick-witted real estate guru who found success by getting it done the tough way. With the help of her boyfriend at the time, Barbara Corcoran took a risk and invested a $1,000 loan in starting her own real estate business. Jump ahead a few decades and now Barbara has a multi-billion-dollar real estate company, a seat on one of TV’s hottest investment shows, and a number of books detailing her secrets to success under her belt. Some of her greatest advice for young entrepreneurs in the real estate business, and others alike, is to learn how to quickly move on from missed opportunities, and to essentially go with your gut when quick opportunities do arise. As she puts it, “Every great decision I’ve made in business since was made exactly that way — quickly without any thought.”

Tiny homes – a trend many of us are now familiar with – have risen to prominence over the past few year’s thanks in part to a woman by the name of Sarah Susanka. Although her approach is a lot less drastic than some of her colleagues in the tiny home’s movement, she is still a go-to for home development advice and commentary on the future of home development. She continuously expresses a collective shift in the need for quality over quantity when it comes to home building. According to her predictions, the current generation will continue to seek homes that appeal to specific design and comfort needs that often take precedence over square footage. Sarah has found through her research that millennials are far less concerned about impressing guests with big boisterous designs and formal rooms reserved for special occasions than previous generations of homeowners. Utility and comfort are at the forefront of the new generation of homeowner’s needs. Whether you agree with her or not, Sarah continues to be a leading voice for the future of home development and continues to receive praise for books like The Not So Big House and Home by Design, in which she outlines her groundbreaking research and predictions.

Thanks to evolving mindsets and business practices, our appreciation for women’s contributions to the real estate industry and society as a whole is no longer just contained to one month of the year. Nowadays, influential female leaders continuously grace the covers of prestigious business publications with their inspiring stories and corporate advice.

TASHA OSBOURNE, BA

MANAGING | LUXURY HOMES & EQUESTRIAN GROUP

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