It used to be that the majority of women in real estate were either agents or brokers.  That is simply not the case today. In fact, the number of female entrepreneurs that have entered the real estate business has grown, and although it is still smaller than those of their male counterparts, women in real estate are thriving across the board.

The way we look at real estate is changing – from house flipping to fund management, and strong women are reaping the rewards single-handedly.  Take Jolyn Farber, for example, who has owned and managed her own fund called Beautiful Catastrophe, LLC since 2008. An attorney by trade, who has been an entrepreneur since she was 16, Farber has mastered the financial, business, and emotional sides of real estate.

Built from the ground up with private financing, Farber has grown her company to include a significant portfolio of multi-family homes, single family homes, residential buildings, commercial, and retail properties.  While Beautiful Catastrophe, LLC’s portfolio is large and varied, Farber’s day-to-day responsibilities don’t change over time. She believes that, “once you become an entrepreneur, planning based on gender, for the most part, is no longer a thing.”  It is important to remember that, “you are planning for a business, that happens to owned by a male or a female.”

However, with approximately 30 percent of real estate investors being women, it is important note that the overwhelming majority still tends to be men, although Farber does see that changing in the future.  “Women are innately good at this type of business. However, it is sometimes hard for any potential investor – man or woman – to take the risks associated with it,” notes Farber.

Those risks come in all shapes and sizes.  According to a recent story in CrowdStreet, there are specific risks that one should consider when thinking about making a real estate investment.  Some risks are around sponsorship, debt, and finances, while others focus on the properties, locations, and the tenants themselves.  Regardless of whether you are a conservative or high-risk investor, it is always important to get strong advice from your team.

Building a strong team comes naturally to Beatriz Yanovich, an Associate Broker at Avery Hess Realtors.  “In order to give our clients and our properties the very best, we are always looking at the benefits, as well as the challenges associated with each property.  Every real estate purchase is an investment, whether institutional or personal, and every investor has specific goals and needs for that investment. Having our leadership team focus on those goals enhances every deal we do,” said Yanovich.

In comparison, Jolyn Farber has not only talked about benefits and challenges of each investment, but also strived daily to enhance her team’s understanding of them each and every day since she started her company.  To her, “successful entrepreneurs see themselves as winners, even when challenged with the most difficult responsibilities.” At times, that may mean passing on a deal you really want, or selling off a property you expected to do better.  It may mean changing a tenant for the betterment of your business, even when you really like them as a person.

To be a woman in real estate, and a leader in any organization, you need strength and understanding.  The actions of a leader inspire others to learn more, grow more and do more. The act of doing more comes in many forms.  For Yanovich, it means, at times, thinking “outside the box to get the right property for the right person at the right time.”  For Farber, it means taking a long, hard look at each investment from multiple angles. It is because of this consistent determination and leadership that both women excel at what they do.  

When interviewed, Farber sums it up succinctly when she says, “do what you love – not what you think will make you money.  If your heart isn’t in it, you won’t be successful.” In other words, successful women see the work they do from all angles, focusing on the ones they love, and highlighting them the most.  Being an entrepreneur means giving up time with friends, family and loved ones when your business needs you. For these two entrepreneurs, their spirit and determination is a gift that keeps giving back to them.  While International Women’s Day honors women for doing just this, both Yanovich and Farber continue doing what they love and loving who they are, while giving back to the real estate community one deal at a time.