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The disconnect between real estate’s diversity policies and young professionals

by | Dec 4, 2023

Investor’s Notebook

The disconnect between real estate’s diversity policies and young professionals

by | Dec 4, 2023

In recent years, there has been a significant push for diversity and inclusion in various industries. The real estate industry, like many others, has taken steps to ensure that it is representative of the diverse demographics in our society. However, when looking at the current application processes and diversity policies, it becomes evident that there’s a glaring disconnect with the mindset of young professionals.

There’s no doubt that businesses should celebrate and advocate for diversity. However, the current system appears to unintentionally perpetuate the very stereotypes it aims to eradicate. LGBTQ+ individuals, for instance, have often been highlighted as diversity “trophies,” inadvertently reinforcing the idea that they are different or outside the norm. Such tokenistic practices work against the essence of inclusion.

Moreover, there is an excessive demand for personal details in the application processes. Asking for details such as the religion of applicants’ parents or where they went to university seems extraneous and irrelevant to the applicant’s qualifications. Why should the university your parents attended have any bearing on your potential as a real estate professional? When I applied for various graduate roles last year the questions that were asked of me were exceptionally intrusive and cutting to their core outright illegal to ask. Imagine you walk up to a colleague in the office, when would you ever feel the need of asking whether their parents went to university or got free school meals or what their religion is. These questions should never be asked during the application process, the only question that should be asked is, can you do your job well and are passionate about it? When I enter the office I couldn’t care less about what gender, what religion and most importantly what the sex life of my colleagues is. It’s none of my business what they get up to and I treat them like how I want to be treated. The main question that needs to be asked of corporate is why on Earth do they need to know it, why don’t they just create a pleasant working environment where we are all treated equally instead of worrying what my sexuality is.

Another dangerous mindset perpetuated by the current system is the tacit implication that if someone happens to be a straight white male, they are automatically perceived as racist or misogynistic. While it’s crucial to address systemic racism and misogyny, it’s counterproductive to assign blame to individuals based solely on their identity. It not only tarnishes the reputation of many innocent individuals but also contributes to severe mental health issues, including suicidal tendencies.

Looking forward, the real estate industry needs a serious revamp of its diversity and inclusion strategies. Firstly, let’s start from the get-go with anonymous applications. Future application processes should focus on the applicant’s qualifications, removing all personal details, including names, universities, and addresses, leaving only grades and past company achievements. This ensures that individuals are judged on merit alone.

Secondly, the consistent treatment of all employees. LGBTQ+ individuals should not be singled out. While it’s essential to recognise and support the LGBTQ+ community, this support should not be limited to just Pride Month. The real estate industry should promote a culture where everyone feels valued and included throughout the year, therefore mitigating the need for a Pride Month.

Next is the eradication of stereotypes. Generalising that all young straight white males are racist or misogynistic is both untrue and damaging. In the same way that corporate sees a young black professional and assumes they are poor. Instead of focusing on what divides us, businesses should encourage empathy, understanding, and open conversations about these issues without casting blame.

This leads onto promote open dialogue. The industry should provide platforms where employees can voice their thoughts, concerns, and experiences regarding diversity and inclusion. The key to understanding and growth lies in open and respectful discussions. If I raise my concerns with corporate about how my fellow employees are treated, I’ll be referred to a training programme, and my fellow employees of whom are LGBTQ+ are unable to raise their concerns about how they’re treated as trophy assets are unable to voice their concerns. All of us want to be treated the same when we go to work so let us all speak the same dialogue, not your corporate whitewash.

Lastly, a shift from intrusiveness. The constant demand for personal details is not only unnecessary but is exceptionally intrusive. Professionals join firms to contribute to the company’s growth and earn a respectable wage. They don’t always need or want to be part of a “work family.” And as it has been noted, many of these “work families” are not diverse to begin with. My private life, and my colleagues private lives, have absolutely nothing to do with you. Imagine if you addressed our concerns about wages with the passion that you do for finding out what my sexuality or religion is, the wage issue certainly wouldn’t be a problem then.

In conclusion, while the aim to increase diversity and inclusion is commendable, the real estate industry’s approach needs to align more closely with the mindset of today’s young professionals. The future of the industry depends on it being able to adapt and genuinely embrace diversity without resorting to superficial or counterproductive measures. Only through genuine efforts and a re-evaluation of current practices can the industry hope to achieve true diversity and inclusion.

About John Gallagher

About John Gallagher

John Gallagher is the pseudonym for a young graduate that works for a major global real estate firm. In a series of articles for The PC “John” will tell us what his generation really thinks.

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