Are there benefits in working with a female real estate agent?
Wednesday, July 18, 2012
As in many aspects of life, when it comes to marketing and selling real estate, the sexes have their individual strengths and weaknesses. While a man's aggressive negotiating skills can come in handy during heated discussions, a woman's calm and collected approach could be just what you need to showcase your property's best features.
A woman's intuition can really make a difference when hunting for a home. Female real estate agents have the ability to look at a home and visualize its transformation, a talent that most first-time homebuyers naturally struggle with.
A look at the numbers
The real estate game has been a traditionally male-dominated industry. Back in the 1960s and '70s, Toronto's real estate market was managed entirely by male brokers and agents. But all of that changed in the 1980s when an onslaught of female real estate agents entered the fray. Recently, the pendulum has swung back again as more men are opting to enter the real estate industry as a second career. Today, roughly 39 percent, (or just over 9,950) of the Toronto Real Estate Board's 25,000 registered real estate agents are women.
Why female real estate agents rock
A recent study published in the journal of Applied Financial Economics focusing on the positive personal characteristics of real estate agents and brokers further supports the argument that female real estate agents rock. In fact, the study shows that having a male agent can actually be bad for the selling price of a home. Both male listing agents (those that act on behalf of the seller) and male selling agents (those that act on behalf of the buyer) were found to be associated with lower house prices than their female counterparts.
High heels and high expectations
One of the reasons why female real estate agents excel at their job is their ability to multi-task. Women are born or perhaps bred with the ability to juggle a number of responsibilities - they manage families, careers and social lives, all without ever batting an eye. Men, on the other hand, tend to be more focused and can easily become flustered when required to manage multiple tasks at one time. When it comes to handling multiple listings, viewings, open houses and showings, women are hardwired to manage the stress without error.
What's more, female real estate agents have the upper hand during first showings. Women have a much easier time making their clients feel at home in a property. They take their time showing the space, suggesting cosmetic updates and explaining the buying or selling process. Men, on the other hand, tend to be more analytical and rational, treating the property as a financial investment, often undervaluing the emotional connection needed to feel 100 percent confident in a home purchase.
The changing face of first-time homebuyers
Another reason why female real estate brokers are proving more popular than men is the current shift in homebuyer demographics. Single women are currently dominating the first-time homebuyer market, purchasing properties in record numbers. Not surprisingly, many of these women prefer to work with a female real estate agent.
Having the edge
In short, it just makes sense to consider working with a strong female real estate agent or realtor when selling or buying a home. She may just have the emotional edge that you – and your home - need.