Any real estate investment comes with stress, especially when the market is volatile. However, many women seeking independence, especially after a difficult breakup, find that real estate brokerage can be psychologically beneficial. “You have a group of women who are striving to improve their position. We don’t embroider, we create wealth,” emphasizes 38-year-old biologist Becky Nova, who founded the Women Owners Organization in 2020.

Mutual support organizations for women real estate investors are experiencing great growth. The Nova Organization and others like it have built a loyal following on Facebook. They also organize annual meetings and offer paid consulting services. Nova charges $2,400 for a three-month training program.

However, there are inherent dangers often associated with gender bias. In a 2020 study by the Yale Business School, single women were found to earn significantly lower commissions on their real estate transactions compared to their male counterparts. Nova’s organization receives daily questions and complaints from women about this injustice.

Richelle Deveaux recalls how she felt like a fraud when she had to negotiate with contractors. “When my father came to the construction site, the craftsmen only talked to him. She had to correct them by saying I was in charge,” says DeVoe. Even the bureaucracy was sexist. Documents bearing DeVoe’s name are marked “Single Woman”.

Strategy and Knowledge

“Because women are viewed with suspicion and sometimes disdain in the real estate market, they need to be a little more careful and conscientious, but also careful not to become victims of exploitation,” comments Mitch Tassel, head of the investor association. Investing in real estate is not easy. They require strategy, negotiation skills and specialized knowledge. You’ll get laughed at sometimes, but you’re a fast learner,” says designer Kathy Dilger, 58, who has been investing in real estate since 1994.

Although owning a property can be stressful, Dilger found that the income from her 21 properties allowed her to “take a breather” and relax a bit. In June, she joined the women’s real estate association and attended a seminar in Charlotte, North Carolina. The conference offered free child care for working mothers and a “quiet room”. Participants were asked to take breaks during which they could get to know each other better or simply relax.

Despite the fact that her marriage had ended a few months earlier, Dilger realized that she felt good. “I got it! I’m healthy, I’m comfortable, I’m fine!” he remembers speaking.