MIAMI—Women have come a long way in the commercial real estate world. But there's still a long way to go. So says Marti Mang, a senior vice president in TotalBank's corporate lending division.
In the final installment of this exclusive interview series, GlobeSt.com caught up with Mang to discuss the changes she'd like to see in the commercial real estate industry and a list of organizations that can help women succeed. You can still read the last segment: When One Banking Executive Hit Rock Bottom.
GlobeSt.com: What changes would you like to see happen in the industry?
Mang: I would like to see more acceptance of women in the commercial brokerage area and a movement toward parity in compensation. I would give women a seat in the board room, which would also benefit organizations. Women represent at least 50% of the labor force and there should be more women in senior leadership positions with parity in compensation.
Much progress could be made if both men and women leaders would make the mentoring and sponsorship of women a priority. We need to encourage women to strengthen and expand their internal and external networks and be sure to include women when it comes to high profile clients. This might be at business lunches or golfing, where both men and women are included.
I would like to see mentors and sponsors encouraging women to be more comfortable with taking a risk to move to a new company or accepting a commission-based compensation, which the survey shows has led to the highest job satisfaction. I would like to see companies to examine if there is a bias in their hiring, promotions or the assignment of challenging projects. Human resource departments could conduct pay equity tests and identify disparities.
Globest.com: What organizations do you think are the most beneficial to women?
Mang: By far, CREW is one of the most beneficial organizations for women and even men who want to succeed in some aspect of commercial real estate because of the opportunities to learn, network and give back to the community.
The Miami Chapter is part of a 10,000-member nationwide network and in this day and age when our business has on many global characteristics, it is good to have connection in another part of the country. It is also good to have an organization that has an e-mentoring program, job listing throughout the United States and a speakers bureau.
This year CREW Network launched a certificate in leadership program that consist of three one-day sessions led by faculty from Emory, Harvard, MIT. Additionally, consideration is being given to offer one on one mentorship for women aspiring for C-suite positions.
There are a number of other good organizations to help people succeed in commercial real estate. We have a great CIASF chapter that conducts annual studies of various real estate sectors and a South Florida CCIM's Chapter with have good networking opportunities. Completing the various courses of study to gain the CCIM designation is also important to success in the field. Our local universities also offer a degree in commercial real estate.
GlobeSt.com: Any final thoughts?
Mang: Finally, I would like to say a word to the women in commercial real estate be bold in their dreams and aspirations and to reach for the stars. Look for good mentors and don't be afraid to change jobs if you believe you have reached a dead end. Embrace commitment and professionalism. Let's show them we can succeed and leave a legacy for our daughters and granddaughters.
MIAMI—Women have come a long way in the commercial real estate world. But there's still a long way to go. So says Marti Mang, a senior vice president in TotalBank's corporate lending division.
In the final installment of this exclusive interview series, GlobeSt.com caught up with Mang to discuss the changes she'd like to see in the commercial real estate industry and
GlobeSt.com: What changes would you like to see happen in the industry?
Mang: I would like to see more acceptance of women in the commercial brokerage area and a movement toward parity in compensation. I would give women a seat in the board room, which would also benefit organizations. Women represent at least 50% of the labor force and there should be more women in senior leadership positions with parity in compensation.
Much progress could be made if both men and women leaders would make the mentoring and sponsorship of women a priority. We need to encourage women to strengthen and expand their internal and external networks and be sure to include women when it comes to high profile clients. This might be at business lunches or golfing, where both men and women are included.
I would like to see mentors and sponsors encouraging women to be more comfortable with taking a risk to move to a new company or accepting a commission-based compensation, which the survey shows has led to the highest job satisfaction. I would like to see companies to examine if there is a bias in their hiring, promotions or the assignment of challenging projects. Human resource departments could conduct pay equity tests and identify disparities.
Globest.com: What organizations do you think are the most beneficial to women?
Mang: By far, CREW is one of the most beneficial organizations for women and even men who want to succeed in some aspect of commercial real estate because of the opportunities to learn, network and give back to the community.
The Miami Chapter is part of a 10,000-member nationwide network and in this day and age when our business has on many global characteristics, it is good to have connection in another part of the country. It is also good to have an organization that has an e-mentoring program, job listing throughout the United States and a speakers bureau.
This year CREW Network launched a certificate in leadership program that consist of three one-day sessions led by faculty from Emory, Harvard, MIT. Additionally, consideration is being given to offer one on one mentorship for women aspiring for C-suite positions.
There are a number of other good organizations to help people succeed in commercial real estate. We have a great CIASF chapter that conducts annual studies of various real estate sectors and a South Florida CCIM's Chapter with have good networking opportunities. Completing the various courses of study to gain the CCIM designation is also important to success in the field. Our local universities also offer a degree in commercial real estate.
GlobeSt.com: Any final thoughts?
Mang: Finally, I would like to say a word to the women in commercial real estate be bold in their dreams and aspirations and to reach for the stars. Look for good mentors and don't be afraid to change jobs if you believe you have reached a dead end. Embrace commitment and professionalism. Let's show them we can succeed and leave a legacy for our daughters and granddaughters.
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