REIA has today reaffirmed its commitment in playing its role to #breakthebias within Australian real estate. 

REIA President Hayden Groves with a workforce of up to 67 per cent women’s equality should be a key social and economic driver for all real estate businesses.

“If we encourage just an extra 6 per cent of women in the workforce, we could add up to $25 billion to Australia’s economy.

“The productivity gains for Australian real estate are potentially enormous on both the workforce and client side.

“REIA is committed to an Australian real estate workforce that is diverse, equitable and inclusive.

“Women are essential to real estate, as property managers, operational support, marketers, businesses developers, auctioneers, agents and more. It is time that we recognize the achievements, excellence and contribution of women in our industry."

Mr Groves said that women are also a huge part of the sustained growth in Australia’s property market.

“Women’s economic empowerment have been an important factor in strong property markets with the rise of dual income households.

“Dual income home ownership rose consistently from 50% in 1981 to over 85% in 2016; with single income home ownership on the decline from 50% in 1981 to under 15% in the 2016 census.

“The next Census results, due out this year, should further this trend.

Mr Groves said REIA has a role to play in ensuring fairness within REIA’s Industry Excellence programs. 

“REIA was established in 1924 and there are many parts of this near 100-year history to be proud of.

“But not all legacy is good; recognising the need to change and actively pursuing that is sometimes needed.

“REIA’s Associate and Fellow Programs were launched in 1962 to recognise emerging and established leaders in the industry and generate a future pipeline of leaders.

“Since then there have been 2848 males accredited as an Associate and 114 females. There have 715 male Fellows and 18 Female Fellows.”

Mr Groves said that this historical inequity needs to be corrected with the Associate and Fellowship program being overhauled in 2021.

“REIA’s new commitment is that for every male Associate application we achieve there will now be at least one female application to match it.

“We know we can improve these numbers to better represent the true diversity and contribution of women in our workforce.

“It was encouraging to see many more female participants in the 2022 NAFE with 45 women finalists – a 60% increase on last year.

“REIA’s Associate and Fellowship Programs are awarded to practitioners committed to furthering best practice, advancing their local communities and championing Real Estate Institutes.

“Whilst not a complete answer to breaking the bias, it is an integral step forward to ensuring our future leaders reflect the diversity of our great industry.”

REIA’s Associate and Fellow information can be viewed here.