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September 2, 2020

'A Sobering Picture Of Stagnation’: CREW Finds Gender Wage Gap Is Much Worse Than 2015

The wage gap between men and women in commercial real estate has widened over the past five years, leaving women at all levels underpaid, underrepresented and increasingly unsatisfied with their careers in 2020, according to a new benchmark study report by Commercial Real Estate Women Network.

A survey of 2,930 industry professionals from across all CRE sectors found that for fixed base salaries, women make an average 10% less than men. For lucrative commissions and bonuses, women take home a whopping 56% less on average than their male counterparts.

When average fixed salaries, bonuses and commissions are combined, women make a total of 34% less than men in 2020, an increase of nearly 11 percentage points from 2015, CREW found.

'A Sobering Picture Of Stagnation’: CREW Finds Gender Wage Gap Is Much Worse Than 2015

CREW gathered 2,930 survey responses between Jan. 2 and March 31, an increase of 34% from the number of respondents to the 2015 survey. Of those respondents, 82.4% identified as women, while 17.5% identified as men. Nonbinary participants accounted for less than 1%.The survey posed…

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Hotels Get Past Awful Q2, But Demand May Not Rebound Until 2023

The U.S. hospitality industry took a major drubbing during the second quarter of 2020, suffering its lowest occupancy levels since the Great Depression.

The third quarter has seen improvement in U.S. hotel industry metrics, but it isn't clear yet how much lasting damage the pandemic-related recession has done, and a full recovery may be years from now.

Hotels Get Past Awful Q2, But Demand May Not Rebound Until 2023

During Q2, occupancy in U.S. hotels dropped 60% compared with a year earlier, CBRE Hotels reports, citing Kalibri Labs data. Such a contraction in demand meant that the national occupancy rate stood at only 28.3% for the quarter, with about 15% of all hotel properties forced to close…

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Illegal Eviction Pressure Claims Mount As Tenants Scramble To Learn Their Rights

Patricia Mendoza, who rents half of a duplex in Imperial Beach, California, and who has been unemployed and largely without income since March, hasn't been evicted yet. But the fear of eviction looms large in her life, despite whatever local or state safeguards are in place. 

Until March, Mendoza said she had never missed paying her rent of $1,500 a month, even though her monthly income of about $2K always made it difficult to pay for everything else for her and her two daughters, aged 17 and 10. Even so, she said they managed to make ends meet.

"I will pay if I have the money, but I don't have any," Mendoza said. "If we lose this place, my daughters and I don't have anywhere to go."

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Origin Stories: Rokstone Founder Becky Fatemi On Going From Event Planning For Kanye And Beyoncé To Selling £50M Luxury Homes

 

This series delves into the myriad ways people enter the commercial real estate industry and what contributes to their success.

There are unconventional routes into the property industry, and then there is Rokstone founder Becky Fatemi.

Today she runs the only all-female brokerage operating in the rarefied air of the prime central London luxury residential market, which has sold homes worth up to £55M and rented properties for £1M a year. 

She got her start in the industry after persuading the managing director of leading brokerage Foxtons to give her a job — while selling him advertising space. After beating company sales records, she struck out and started her own business.

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