I HAVE BEEN ATTENDING CRE EVENTS SINCE I
started working in this community some 15 years ago, and
I’ve learned a lot over that time. No matter the occasion or
location, I know these things are true:
1. In a large room full of people, I always have a hard time finding
some individuals I may be seeking. They appear to be lost in a room
of dark suits and hair that is either slicked back or nonexistent.
2. In buffet lines, it’s best to let most folks fill their plates before me,
lest I get jostled by strong elbows that have been starved for several hours.
3. I never, ever have to wait in line for the bathroom.
You may have chuckled at these. And they’re funny because they’re true; the sad
fact is that when it comes down to it, CRE is one of the last bastions to be diversified.
That’s not to say the industry—long known as an “Old (White) Boys’ Network” built
on relationships—hasn’t made strides. Women, for instance, comprised 43% of CRE
professionals in 2010, the CREW Network found, up from 32% a decade earlier. In
2016, the US Department of Labor reported women held 45.6% of the nation’s 3. 16
million real estate positions, which include various segments of the business. Those
numbers dwindle, though, as you move higher up the ladder.
The figures are worse for race and ethnicity. The Labor Department found that
Black/African Americans held just 10.4% of real estate roles in 2016, while those with
Hispanic/Latino and Asian backgrounds accounted for 5.7% and 4.1%, respectively.
That’s a slight improvement from three years earlier, when the oft-referenced CRE
Diversity Report was released. The study found that in four out of five categories, white
men held the majority of the 166,554 CRE jobs surveyed. Further, they held 77.6% of
senior executive-level roles, compared to 8.3% held by all ethnic minorities combined.
And then there’s age diversification. As much hype as Millennials get, Labor
Department figures show the industry may actually be getting older, with the median
age of real estate pros rising from 46. 5 in 2011 to 48 in 2016. Looking at either end of
the spectrum, those aged 22 to 35 accounted for 22% of the 3. 16 million real estate
jobs in 2016, while 13% were older than 65. Five years earlier, the youngest and oldest
cohorts respectively held 24% and 11% of nearly 2.78 million real estate roles.
As for LGBTQ Americans, the Human Rights Campaign’s 2017 Corporate Equality
Index looks at the level of LGBTQ inclusiveness among major US companies. It found
that 515 of the 887 firms included in the 2017 report received a perfect 100 score.
CRE firms took up just three of those spots. But hey, that’s better than the survey’s first
year (2002), when no industry firms even made it to the list of 13 perfect scores.
And I won’t say anything about people with disabilities because, well, there were little
to no data available about their presence in CRE.
I make these points for good reason. The world is becoming increasingly diverse,
and one can’t define diversity in strict terms. People are different in many more ways
than are listed here—for instance, parental status, financial background, immigration
status, the list goes on. And increasingly, US businesses are realizing that in order to
serve a more diverse and colorful population, they, too, need to diversify internally.
I know another thing to be true: these trends are only going to become more prevalent. As such, we dedicated much of this issue to how the CRE business is adjusting
to these changes and actively trying to mix up their recruitment. More work obviously
needs to be done, but it’s refreshing to see a collaborative effort on the part of industry
organizations to take those steps. And we at the ALM Real Estate Media Group look
forward to covering this issue and its success stories in the coming year.
America’s Premier Real Estate Business Magazine
Managing Editor Paul Bubny, firstname.lastname@example.org
Executive Editor, GlobeSt Natalie Dolce, email@example.com
Mid-Atlantic Steve Lubetkin, steve@statebroadcastnews.
com, Erika Morphy, firstname.lastname@example.org; Southeast
Jennifer LeClaire, email@example.com; Midwest
Brian Rogal, firstname.lastname@example.org; Southwest/West Coast
Kelsi Borland, email@example.com, Carrie Rossenfeld, ros-
firstname.lastname@example.org, Lisa Brown, email@example.com
Art Production WNS Global Services
Production Manager Sam Wong, firstname.lastname@example.org
Director of Manufacturing Steve Johnston, email@example.com
Sponsorships Jon Levin, firstname.lastname@example.org;
Kristi Procopio, email@example.com
Conference Producer Felicia Davis
Conference Producer Joan Moh
Senior Director, Integrated Media Sales, Real Estate
Division Kristi Procopio; Southeast Region Sales Manager
Donald O’Keefe; Northeast Region Sales Manager Craig
Roth; Business Directories Elena Acosta; Sales Support
Specialist Madina Wilson
VP, Integrated Marketing & Sales Development Scott
Thompson, firstname.lastname@example.org; Online Marketing/Custom
Content Coordinator Justin Summa; Digital/Design Production
Editor Geoffery Metz; Art Director, Integrated Marketing Ron
Schoeffler; Audience Marketing Director Lynn Kruetzkamp;
Brand Marketing Manager Linda Levine
HOW TO REACH REAL ESTATE FORUM
120 Broadway, 5th Floor, New York, N Y 10271
Tel: 212.457.9400 Fax: 646.822.5365
SUBSCRIPTIONS & BACK ISSUES
PO Box 3136, Northbrook, IL 60065
Phone: 800-458-1734 • Email: RealEstateForum@halldata.com
Marge Fernbach, Statlistics, 69 Kenosia Ave, Danbury, CT 06810
Tel: 203-778-8700; Email: email@example.com
REPRINTS AND LICENSING
Email: STorres@alm.com • Log on to: www.almreprints.com
ALM Senior Management
Bill Carter, President & CEO, Jay Kirsch, President/Media, Andrew Neblet,
President/ALM Intelligence, Debra Mason, Chief Financial Officer and Chief
Operating Officer, Molly Miller, Chief Content Officer, Carol Eversen, Chief
Marketing Officer, Allan Milloy, Chief Sales Officer/Paid Content, Matthew
Weiner, Chief Sales Officer/Marketing Solutions, John Sturttard, SVP/Global
Events, Dana Rosen, SVP/General Counsel, Erin Dziekan, VP/Human Resources
ALM, an Integrated Media Company, is a leading provider of news and information for the legal and commercial real estate markets. ALM’s market-leading
brands include The American Lawyer, Corporate Counsel, GlobeSt.com, Insight
Conferences, Law.com, Law Journal Press, Legal Tech, The National Law
Journal and Real Estate Forum. Learn more about ALM, visit www.alm.com.
Real Estate Forum® is a registered trademark of ALM Media Properties LLC