JLL paves the way for success for female brokers

The underrepresentation of women in commercial real estate transactions remains one of the industry’s most persistent issues.

The disparity is particularly acute in senior roles and high-value deals, with a knock-on effect on Salaries. Females in the industry earn 84% of what men earn on average according to the advocacy group Narrow the Gap. That gap widens for women in brokerage roles, as well as in executive roles.

Barriers to entry and advancement for women in commercial real estate have been longstanding as well as slow to change.

But one group is upping the ante. JLL’s Women in Property Transactions network is celebrating one year since it was established by a small group of female brokers at JLL. Its mission: to create more positive and equitable experiences for females in fee-earning roles, increase female representation in those roles, and promote the longevity and seniority of women in their agency careers.

The past year has seen the group expand into a large internal network of colleagues that is influencing everything from company policy to grassroots talent and the wider industry.

“Women in agency face unique challenges and biases in the real estate sector, and the support and encouragement we’ve received from JLL leadership, human resources, diversity champions, clients and the industry are testament to the value in sharing experiences, supporting each other and driving change,” says Annabelle Crowe, capital markets executive and one of WPT’s founding members.

One of the group’s major accomplishments has been influencing a change to JLL’s parental leave policy removing the disadvantage that once existed for fee-earning professionals once they returned from extended leave.

“We realised we had lost some great female talent that we really didn’t want to,” says JLL chief executive Dan Kernaghan, a supporter of WPT and member of the Property Council of Australia’s Champions of Change coalition, which is focused on advancing women into leadership positions. “We hope this policy gives our colleagues the confidence that we want to support them back into their roles and earning commission as quickly as they possibly can.” 

As well as advocating for women who are established in their professions, JLL’s WPT is engaging with university and high school students to promote a career in property, hoping to entice a new generation of diverse minds and talent.

Alongside this external outreach, WPT has hosted some 400 clients at events across JLL’s offices nationally tackling themes around unconscious bias, industry cultures and the power of mentoring.

These events and initiatives are receiving the attention and support of some of the industry’s most senior female figures. Among those, Charter Hall chief executive Carmel Hourigan, who was recently in conversation with JLL’s Victoria managing director Kate Pilgrim for a client networking event that celebrated WPT’s one year anniversary.

Pilgrim, who is also co-head of tenant representation at JLL, returned to the company earlier this year after a two-year stint working at Charter Hall where she was inspired by Hourigan’s leadership.

She says it was JLL’s commitment to backing women in senior positions that influenced her decision to return.

“I wish there were groups like WPT when I started in agency 20 years ago,” Pilgrim says. “We’ve come such a long way in breaking down barriers for women in this space and this initiative is taking it to the next level.”

WPT’s activities and aspirations continue to grow. A mentorship program is underway that will involve women from both within JLL and outside of the company. There are internal training initiatives to support women into transaction roles. Also, focus group sessions, in collaboration with JLL’s senior diversity and inclusion figures aim to share direct feedback from women in JLL across sales, leasing, tenant representation and valuations, with senior leaders to affect change.

“At JLL, we are deeply committed to fostering an environment where women can build long, successful careers,” says Luke Billiau, JLL’s head of capital markets. “We are actively working to enhance our policies and programs and continuously approve our approach not only to retain our exceptional female talent but also attract more women to our platform.”

Amid WPT’s catalogue of activities, the network has raised close to $10,000 for women’s charities.

There are plans to expand the network into other JLL country offices, and with a global workforce of over 100,000 people, the impact of this cannot be underestimated.

Caitlin Uren, JLL’s head of ESG and outbound superfund coverage for capital markets at JLL, who is another founding member of WPT, says she is proud to see so much meaningful progress.

“It’s an incredible feeling to connect with so many women in our industry who are passionate about gender equality. We are immensely proud to have created a community where ideas can be shared and real change can be actioned.”