Is your mind on your money and your money on your mind? This is what I have been a strong advocate for female agents for the past few months. Why? It’s time to have a long-overdue conversation about women and wealth—how to educate women on how to build wealth, how to demand equal pay for equal work, and how to best prepare themselves for a secure retirement that is tied to inheritance Generational wealth or wealth has nothing to do with it.
The reality is that you have a responsibility to secure a financially sound future for yourself.
Instead of cutting coupons and trying to reduce your budget for your organic coffee habit, focus on bringing in more revenue, building connections to get business referrals, and learning to invest so your revenue is always working in the background to protect your future.
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Below, we explore resources where women can find role models, mentors, and a support network of experts invested in your financial future.
Women’s real estate wealth
Women must become students of finance and rely on savvy professionals who provide quality resources and advice on how to save money, grow your income, invest, and create multiple streams of income.
It would be an understatement to say that our country and our industry have been challenged over the past few years in ways no one could have imagined. With brokers and consumers alike exhausted by the pandemic, scandals, lawsuits, policy changes and record-high interest rates, the housing market is more unsustainable than ever.
Bernice Ross, one of Inman’s key contributors, created a website dedicated to helping women become homeowners, strengthen their finances, and gain financial education to build a lifetime of success and security.
On her website, Real Estate Wealth for Women, Rose shares hours of video interviews and written resources on everything from buying your first home to saving for retirement. The website is the result of years of research, conversations with top financial and technology experts, and her personal passion for sharing her own success stories and helping other women build theirs.
Rose understands that women’s financial resources are limited, and she is passionate about helping support and educate women to achieve their biggest, most ambitious dreams.
“When I look at women, I see a lot of men [real estate investors], almost everyone is promoting a product. Educationally, that’s me,” Bernice Ross said.
On her website, there are multiple educational pathways as well as examples of tools and products that allow women to start investing for as little as $10 to $5,000. This means people from any background can start investing in their future. For women with low incomes or no retirement savings, this could be a game-changer.
While the site is still in beta, it is one of the few spaces in the real estate industry dedicated to women seeking financial help. These basics will also be useful for the female consumers you work with. Even if you are a broker, this might be a great resource for your newbie broker to glean some ideas for your five-year plan for growing your business.
red line collective
Another new startup, Red Threads Collective, was founded by a seasoned pro and offers a holistic approach to finance, networking, and finding work-life balance. If traditional business development advice feels cold or even unrealistic, this cultivation-driven networking and education platform might be just the place to check your “woo-woo” boxes that make thinking about creating a great life more organic than a rigid business strategy.
Founder Debra Trappen (formerly WomanUP!) has assembled a team of female “wise advisors” who are experts in many different areas of mind, body, spirit, finance and personal health. The advice is ready to combat the hustle culture and guide women to find peace and prosperity in a space of calm and healing as they strive to take control of their lives rather than letting life control them.
In a recent podcast, Trappon detailed why she created this platform, why women need this option to build business networks, and the benefits of traditional business culture forcing women to think it’s normal to be calm rather than chaotic.
Women are up!
The organization, which hosted its annual conference this week, has been at the forefront of the industry, encouraging women to not only connect to build their own businesses, but also share their journeys and grow with each other in meaningful ways that will Lasts a lifetime. Sponsored by the California Association of REALTORS (CAR), this group of women from across the country come together annually to network, educate and grow their businesses.
Focusing on female empowerment, WomenUP content and emerging leaders! Committed to ensuring women can have conversations about how to grow their careers and build the confidence they need to claim a seat at the table of senior leaders in the real estate industry.
“Wavemakers” are women in a community who are leaders and role models who embody the WomanUP! campaign’s mission to tell the stories of modern women who strive to leave their mark on the world and create tools and services for others who want to do the same A toolbox of things women offer.
If you’re looking for connections with breakthrough experts and innovative thinking, even reading the platform’s blog or podcast is a great place to start thinking about growing your business.
Check out some of the highlights from this year’s gathering with Inman Services Editor Dani Vanderboegh and staff writer Bernice Ross.
final thoughts
The hard truth is that if you don’t, no one will take care of your future. The good news is that while you need to figure out how to move forward, there are plenty of other women out there who are ready to support the journey. The first step is recognizing that you need activation; the next is connecting with a mentor who wants to see you grow.
Building prosperity and wealth in your business plan is just as important as finding new business. With more financial education, you can give your future self a brighter future.
Rachael Hite is a former broker, business development professional, fair housing advocate, copy editor, and currently perfecting her long-term game of selling forever homes at a retirement continuing care community in Northern Virginia. You can chat with her about life, marketing, and business on Instagram.
