Here we have listed some of the most significant 

1. Single women own more homes in the USA than men

According to reports by NY Times, single women now own more homes in the USA than single men. Single women own 10.76 million U.S. homes. Whereas single men only own 8.12 million in the USA. This statistic is despite the fact that women earn 83 cents for every dollar that men earn. 

This is a surprising revelation, given that there is a huge pay gap between the two genders. So, how is this possible? NAR reports have mentioned that single women are ready to make more sacrifices to own a home than single men. That is one of the biggest reasons why so many women have been able to own their own homes. 

2. Women realtors are much higher in the US market

Another NAR report also found that women realtors account for 65% of the registered agents in the USA. This has become a welcome change in this industry where once female realtors were an almost non-existent thing in the USA. According to the same reports, a typical realtor in the USA is now a woman in her 50s who is college educated and owns her own home. 

3. Not many women in CRE

Even though the significant number of female realtors in the USA is a positive change, the number of women in commercial real estate is still very low. They account for only 36.7% of the workforce. But the numbers have risen drastically in the last few years. Even 2-3 decades back, women in CRE were much below 10%. Even with positive changes, there is a long way to go.

4. Women still get paid less in real estate jobs

Even with so many women in the industry, the pay gap is still significant. It is, in fact, one of the worst in the real estate market. According to reports, women real estate brokers are paid 78 cents for every dollar a woman earns. This amounts to $14,924 in payment at the end of every year for the same job at which a man earns $14,924 more. 

Shocking reports by CREW Network also say that women earn only 56% of the number of commissions and bonuses in this industry compared to men. This gives us a clear picture of the unfair pay structure in the industry and that there is a long way to go for a complete change of this wage gap. 

5. Single women get lower returns on housing investments 

We have already learned that single women own more homes than single men. But surprisingly, single women do not get the same returns on their housing investments as single men. A Yale study shows that single women pay 2% more when buying a house. The same reports also show that they earn at least 2% less when they are selling the same houses. 

6. Women pay more in mortgages 

According to Bankrate statistics, women pay more in mortgages in 49 out of 50 states. There is a serious gap in equality in the money lending business and supporting women-owned homes. But it is noteworthy that even with such adversities, single women still own more homes than men. 

On this International Women’s Day, here is a little look into the lives of the women in real estate who made a place for women in this male-dominated industry.

Wu Yajun is one of the biggest real estate investors and the richest self-made woman in the world at one time. She is also a major name in commercial and residential real estate development and helped set the trend for other women.

Another significant name in the global real estate market is Jane Goldman. She is known as the only female billionaire running a real estate firm in the USA. Her portfolio has over 400 high-end properties and a 17% hold up in lower Manhattan's World Trade Center developments. 

Women like Wu Yajun and Jane Goldman are setting the trend in global real estate. They are here to set the trend right, and not only are they working to make their mark in the industry and helping their journey become a stepping stone for other women.

Final Words

Women in real estate have hundreds of odds stacked against them, be it real estate or other industries. Do not let technology be another roadblock in this market and lose business to your competitors. Contact our team to get the most efficient technology selection and implementation plan to help your business soar higher. Let us take this one thing off your shoulders as you plan your next moves to grow your company.

A happy Women’s Day to all people who identify as women!

• A clear talk about the connected family of solutions for multifamily properties

• They talked about using Reach to attract new individuals to your property

• Using the leads to convert them into leases

• More focus on property management - client retention and facility management 

• Asset management - Optimizing resources to see if each asset is paying off for the investments you make. This helps show if each employee is performing enough to bring profits to the business. 

In the below sections, we will discuss everything we learned in this session of the YASC.

Reach by RentCafe - Yardi Services

Esther Bonardi, Vice President of Marketing for Yardi systems, gave a complete run on why Reach works well to attract leads. This marketing tool wants real estate businesses to focus on the art and science of marketing. The speaker also mentioned that many Yardi clients think they are not into marketing, but everybody is surely into lead conversion. This is what makes this tool relevant to all real estate businesses across the globe.

RentCafe did a national case study on lease acquisition and found great opportunities to lower costs. Their study showed that SEO helped properties drive 144% more leases than all ILSs combined. The combined cost for each lease was also down by 91%. 

They studied 34 clients for 3 months and found that, on average, companies spend $1.106 million for ILS, whereas they spend $235K for SEO. Although their ILS listings bring them only 1,000 leases, they get around 2,683 from their SEO initiatives. 

Hence, Esther also mentioned that this SEO tool could help you lower your marketing costs and improve your NOI. Reach also has the perfect market analytics tools and SEO services to help you get in-depth data on your marketing plans to attract more customers and convert them into customers.

Chat IQ by RentCafe

The Chat IQ product is a smart chatbot that helps answer renter queries through automated responses and helps convert leads to customers. This helps improve the overall customer experience at your site, and the customers feel valued. This drives lead conversion and effective marketing. 

Akshai Rao, one of the Yardi executives, also mentioned that this chatbot has become increasingly efficient in helping customers schedule self-guided video property tours. Their research data says this Chat IQ bot has an average show-to-app conversion rate of nearly 70%. This bot also helps businesses save around 6 hours daily on client interactions. Additionally, it helped add around 2-3 extra leases every month.

CRM IQ by RentCafe from Yardi services

Daniel Davis, a Yardi executive, helped people understand how CRM IQ works great with Chat IQ. This feature handles customers through the prospect to the resident life cycle. There is a great agent dashboard in this dynamic customer-centric CRM.

In the CRM IQ dashboard, you can track leads yet to materialize. Then you can see which leads are in talks with agents already. It also has options to track booked appointments and sends automated reminders to finish the tasks on time. There are options for follow-ups or alerts which you can use to keep track of the customer lifecycle.

Here agents can also categorize leads according to prospect type, stage of the applicant, or prospect status. You can integrate this with Chat IQ to see the conversations with leads and their stage. This gives you a holistic view of the leads. 

Yardi Payment Processing

The Payment Processing tool is easy to manage all kinds of transactions. From rent collections to invoice payment and receiving, all can be done from this dashboard. This will help you maximize your cash flow and efficiently manage your financials. This is a complete solution for your staff to manage accounts receivable and accounts payable for residential property management. 

They are also set to launch a new feature called the “GL Manager” which helps you manage the general ledger. This helps you manage critical issues like Open AR and Open AP under the same dashboard for better efficiency. 

Yardi Elevate

Yardi Elevate is mainly used for asset management and helps optimize your resources, grow your asset value, and impact your NOI. This suite includes three different products - 

• Revenue IQ

Revenue IQ helps get intuitive pricing and improves the visibility of your assets. You can track which assets perform better to understand where and how you can make pricing changes. This directly helps you achieve your revenue goals.

• Asset IQ

Asset IQ keeps track of the operational and financial performance of your assets. Also helps you compare your assets against your competitors. It also offers recommendations for better asset usage and revenue generation. 

• Forecast IQ

The Forecast IQ product helps create budgets and keep track of asset budget status. You can also look at asset historic data to predict their performance. This helps develop a complete property-level budget. 

Are you a multifamily property owner? Are you looking to organize your business, make more sales, and manage better? Yardi and its new tools and features for multifamily property management are the way to go. 

Integrating these additional features or tools can be a little confusing for both new and old users; that is why we are here. Call us so we can help integrate the new tools into your system. As independent Yardi consultants, we can also suggest which features will work best for you. We can also do that if you need to train your staff for these additions. 

Get in touch with the team for more. 

Assetsoft is attending YASC 2022 in San Diego between August 31st to September 2nd and we are looking forward to meeting in-person with both current and prospective clients. As always, if you are looking to extend leading property management solutions such as Yardi, we are your trusted partner to get it done on time and within budget.