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Though the idea of women in real estate isn’t particularly new, note that more and more women are moving from selling residential real estate to owning residential as well as commercial real estate firms. The Great Recession played a key role in enticing more women to expand from residential to commercial real estate.
For example, with profits from home sales receding during the downturn, Terrie O’Connor, owner of Terrie O’Connor Realtors in New Jersey, turned to the commercial side of the industry to bolster revenues. She says it’s important to keep looking for new opportunities to keep business humming.
The number of women-owned companies in real estate is up 37.6% since 2002 and now comprises more than one-quarter of all real estate firms.