If there’s one thing consistent about the real estate industry, it’s constantly changing. In today’s episode of Women Who Lead, our host, Teresa Palacios Smith, is joined by three powerful women in the real estate industry whose decades' worth of combined experience and knowledge have made them icons in the field.
Who are the icons?
- Margherita (Maggie) Verani, CEO and Owner of Berkshire Hathaway HomeServices Verani Realty
- Beth Wolff - CEO and Founder of Beth Wolff REALTORS®
- Connie Yoshimura - Broker and Owner of Berkshire Hathaway HomeServices Alaska Realty
How the icons began their real estate careers:
- Disenfranchised by the social security industry, Maggie began to work part-time as a receptionist for her father’s real estate business. She moved her way up the ranks and now runs the operation.
- Beth entered real estate for flexibility and income potential; she liked that nobody could tell her how to spend her time and money.
- With a writing background, Connie’s goal was to sell enough real estate so she could pursue poetry. She liked that real estate is a creative process, and there is no glass ceiling if you work hard enough.
How has the industry evolved since the icons started?
- Beth originally finished real estate deals with a one-page contract. However, now the concluding process is far more thorough.
- Maggie has noticed a shift in informational availability. Realtors no longer control the availability of information, thanks in part to technological changes.
- Connie noticed that the industry has changed from a broker-centric to an agent-centric model, which calls for a larger scope of diversity and representation.
Obstacles to overcome:
- The only obstacle that’s always present is change. Women have worked to overcome gender bias, but there is still more that needs to be done.
- Gender prejudice within the banking industry affects who can borrow money for housing, and the corresponding social implications also affect women in traditional business positions.
- Women in business need emotional intelligence to know who is happy, who isn’t, and who needs help when in the office. Women have to be better than men just to get to the same place.
The Icons’ advice to women fulfilling multiple roles:
- There is little you can do to control what happens to your home. However, you have complete control over how you react to what happens.
- Get on the treadmill and exercise. You’ll be shocked just how much better you feel about yourself and the world.
- Get rid of the guilt. You’re trying to do many things, so don’t feel bad if you can’t do every little thing that each role requires.
- When starting your real estate investments, start small and take little bites. You might make a lot of money, but you might lose a lot of money. So don’t finance everything to pay for it.
Advice to women in their positions concerning challenges:
- Younger women don’t understand where they came from. Know how far we’ve come and continue to push gender boundaries.
- Education is essential, whether that’s learning by experience or just through a more formal process.
- Women should be able to succeed just as quickly as men. Unfortunately, the upcoming generation is somewhat complacent because they aren’t aware of where women were just a few decades ago. Keep pushing and be determined to succeed.
Book Recommendations from the Icons:
Remember, always bring women up the ladder with you as you climb to the top. For more great content from Teresa, connect with her on LinkedIn, join her Women Who Lead Series on Facebook and subscribe to her YouTube channel. You can find more episodes of Women Who Lead on Spotify, Apple Podcasts, and anywhere else podcasts can be found.
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