By Brea Harper
Women property owners have become one of the fastest growing demographics to buy and rent properties throughout the San Francisco Bay Area. This phenomena begs the question: why are women so attracted to this business? The answers can be found in both societal attitude shifts and attraction to the business itself. “I've watched women transform the real estate landscape, and it’s honestly fascinating,” said Wesley Kang, founder of 1099Cafe.
“A big one is likely the fact that women today have more financial independence than any past generation of women,” said Adam Hamilton, CEO, REI Hub. “For reference, it wasn’t until 1974 that women could even own their own bank account. That alone made it more possible for women to buy their own homes (e.g., not needing a male co-signer) in addition to just having their own bank accounts. So, as the years have passed and women have been able to achieve financial independence, they have been making big strides to hit the major financial benchmarks like owning a home. There is also great stability in owning a home, and many studies show that women prioritize stability, and are more risk averse, than men.”
With societal and cultural barriers removed, women began excelling in this area. “Upon starting in real estate, I saw fairly fast a striking pattern: women are making great progress in property ownership,” said Carissa Kristoff, realtor, Berkshire Hathaway HomeServices Select Properties. “Being the CEO, I have had the honor of collaborating with many women who use real estate to secure their futures and control their financial circumstances. This project for me goes beyond the business; it is about enabling women to build long-lasting legacies that give them the independence they naturally merit.”
The change also illustrates the nature of cultural shifts where women and men aren’t necessarily coupled up at earlier ages. “I think it’s just an indirect consequence of more people buying and owning properties while they are single,” explained Pete Evering from Utopia Management San Diego. “In generations past, it’s usually couples that do this. As more single people choose to own real estate, more single women also get in the game. I think relatively more women are getting into ownership because ownership represents security. Most single owners are relatively young, and among young people, it’s the women who tend to mature earlier and think about putting in place things that would make for a more secure future, like a house or investment property. I recognize this might be a gross generalization, but I think it’s something worth looking at.”
“From my perspective, stability is the major impetus; therefore, what compels many women to purchase property?” said Kristoff. “Real estate is among the most dependable methods of increasing assets over time, which women usually do. It is an investment that, together with a great sense of pride in owning a physical asset, can produce long-term financial stability.
“Moreover, since property ownership shows power. It helps women to weigh important options concerning their financial future. They are building wealth, which is very empowering, rather than using up their resources by renting.”
Kristoff took it one step further and added, “Thanks to their special gifts, I have seen many women perform well in the real estate sector. Whether managing a property or a business, property management calls for patience, close observation of details, and multitasking skills that are vital irrespective of what other help a client receives in locating their ideal house. Real estate needs these skills, and women seem to excel in this sector.”
WHY WOMEN SUCCEED
What do women property owners possess in terms of talents and skills that make them excel as property owners? “What strikes me most is how women approach property investment because they're incredibly strategic,” said Kang. “While many male investors I work with focus on quick gains, my female clients often build methodically, starting with one solid investment and expanding thoughtfully. Just last week, I worked with a client who turned her first downtown LA condo purchase into a five-property portfolio over just three years.
“The way women succeed in real estate is remarkable but it’s not surprising. In my experience, they excel at preventive maintenance and renter relationships. One of my top-performing clients reduces vacancy rates by maintaining detailed property records and building strong renter connections – skills that directly impact bottom lines.”
Women are often more open to learning and understanding the property ownership business environment. “Managing a residential cleaning and management business gave me a helpful perspective on property ownership from my years of experience,” said Kristoff. “Dealing with maintenance issues or enhancing a house's appeal calls for attention to small things, which is significantly important for success.”
Women also employ strategy and well-organized execution of their businesses. “It is for women a venue of independence and financial stability, not only a place of living,” continued Kristoff. “Strategic planning can result in steady income from property ownership over time and generate passive revenue. Real estate investments can help women to increase their resources, create equity, and finally transfer these riches on to their offspring.
“One gets much satisfaction from wise investment decisions made. Being a woman in the real estate business, I have seen many customers become successful just by spotting the correct times to buy and renovate their homes. Managing your own finances is essentially a long-term investment in oneself.
“Ultimately, female homeowners have a considerable value as assets. It provides freedom, stability, and the chance to create a lasting heritage. Apart from the economic advantages, the incentives for women to follow this road are great; they create possibilities for their children and themselves. Real estate offers each investor a chance to shape the future the same chances regardless of experience. Every person is entitled to this level of independence.”
Brea Harper is a Bay Area writer.