Breaking Away From Stereotypes

Karina Meirmanova, a Consultant at Provident Real Estate talks to REM Times about the stigma around women in the Real Estate Industry.

When we look at the Dubai Real Estate workforce, women are clearly dominant, representing more than 60% of all realtors. However, at senior levels and leadership positions, the industry becomes male-dominated with barely 3% of property brokerage firms and zero property developers owned or led by women.

REM Times talks to Karina Meirmanova, a Consultant at Provident Real Estate on her journey in the Real Estate industry. She sheds light on the kind of skills that women can bring into the real estate industry and the impact a good healthy workplace can have on young professionals like her.

Here are excerpts from the interview:

1. What is the role of women in the Dubai Real Estate Industry? And how have you been able to excel your leadership within the industry?

 In truth, my work goes beyond simply selling and buying properties on behalf of my client. I am a wealth manager, and this role brings a lot of responsibility and requires professional knowledge of finance, the market, and the ability to predict and manage potential risks. I believe that every person, whether male or female, needs to work on themselves every day and make sure that they have something valuable to bring to the table. In the competitive world and real estate environment such as Dubai, it is important to be different and lead by example. Leadership is not a title and not a particular set of skills. It is a combination of everything together, constant hustle, and integrity.

Females dominate the real estate industry in Dubai, representing more than 60% of all realtors. However, at senior levels and leadership positions, the industry becomes male-dominated with only 3% of property brokerage firms and zero property developers owned or led by women. I believe that the most important thing for any professional in any industry, but in real estate in particular is work ethics. Specifically for women, because unfortunately, women are mostly stereotyped and some people in the industry bring a poor reputation to the sector. Women are often objectified, but in reality, the mere fact that there is a lack of professionalism and knowledge is the main driving denominator of why there is stigma around female brokers.

2. What skills do you feel that women can bring to the Real Estate sector in Dubai?

There is a range of skills that are essential for a career in real estate. Some of these are transferable such as communication skills and others come with practice, discipline, and training. Women in particular can bring a plethora of skills, such as our drive and passion, the ability to negotiate, our creative thinking, and the capacity to adapt quickly. In addition, women have a natural capability to empathize, which, in my opinion, is crucial for establishing rapport with clients and comprehending their requirements.

3. What about the industry drives you even today?

The Real Estate industry in Dubai is unlike anywhere else! I’ve always been amazed by the fast-paced environment that not only this industry, but Dubai in general brings. For me, the most important thing is to keep and build strong relationships with my clients. At the same time, the environment and the platform one works at are extremely important, and finding a suitable Real Estate company for you is beneficial. I am fortunate to have Provident as my backbone and a shoulder to lean on.

4. Your advice for women wanting to enter this industry.

For women wanting to enter the Real Estate industry, there are a few things to keep in mind. Resilience is key and it is crucial to remember, setbacks will occur but it is how this is dealt with and how you build yourself back up again that counts. It is also essential to establish a personal brand on social media and use this as a portfolio to build credibility. Finding support is also beneficial. Almost every company that you decide to start your career with will give you training, however, you should consider shadowing a colleague and asking questions. Knowledge will always be power and the more you gain from a mentor, the easier and quicker it will be to develop your own approach and strategy.

Lastly, stay on top of your game. Constantly research the market trends. Delve deeper and learn why the market may be growing or declining and keep yourself refreshed and familiar with this at all times.