The gender gap is back, and it’s making harder to sell homes to women. A new survey has some disturbing new evidence indicating a major gender-related issue that we women have with home-buying, and let me just say that the “actionable advice” that the researchers are giving to go along with the survey is, well, a bit troubling as well. I’ll tell you all the details in today’s episode. I’m Carole Ellis. This is Episode 74.
So, the gender gap is back in housing, and it’s manifesting in a way that you might not have seen coming. According to ValueInsured’s Modern Homebuyer Survey, women have far less CONFIDENCE in real estate than men even though they say that they want to own their own home far more frequently than men do. We’ll get into the numbers in a just a minute (not to mention the “advice” from the analysts about just how to deal with this lack of confidence), but first I want to take a minute to bring up a certain woman who definitely does NOT lack confidence in real estate – and if you take a few lessons from her you certainly won’t either. This lady is one of my favorite investors, Sue Nelson, and you’ve probably heard me talk about how her first deal was a 104-unit apartment complex and now she owns more than 2000 units and flips commercial properties for six-digit profits on a REGULAR basis (right along with her students, I might add). Well, Sue was in my hometown a few weeks ago, and I had the pleasure of attending one of her small mastermind trainings where her most active students get together, evaluate a city, and get deals done, and let me tell you, this former art-teacher-turned-bigtime-commercial-investor does not mess around. They are on FIRE at this mastermind, and they’re picking out new deals, picking apart old ones, and basically just making it happen. Sue has what I would consider to be the most important aspect of real estate down pat – that would be confidence in her numbers, by the way – and if you want to know how she does it, then I strongly encourage you to attend a free training she provided to REI Today listeners at www.rei.today/IMPORTANT. Check it out for the details on how she flips her deals (including that first MAJOR one) and how she makes sure that her CONFIDENCE in her numbers is always well-placed and SPOT ON. That’s www.rei.today/IMPORTANT, because it’s important you check this out right away.
Now, let’s get back to the gender gap and what the so-called “experts” say we need to do about it. First, the numbers:
According to ValueInsured’s survey, roughly three in every four women say that they want to own a home, compared to about two in every three men. So slightly more women than men say that they don’t own a home but want to. However, when it comes to actually getting their name on the deed, women are far less likely to end up doing so for a variety of reasons. Mainly, they said that they don’t think the housing market is healthy (less than half believe it is), don’t think it’s a secure investment in today’s economy (less than two-thirds believe it is), and don’t feel that they can afford the downpayment, (less than one-third believe that they can). Men were far, far more confident in all three of these areas and also were far, far more likely to say with confidence that they could sell their existing home right now for more than they paid for it than women were.
So, obviously, there are some practical issues that probably are influencing the results of this survey, but for now, let’s focus on what the survey (and it’s analysts) are telling us about women and real estate. For starters, one thing that the survey exposed was that women and men have very different ideas about quote “The American Dream.” Women say it is mainly being debt free, while men say it is, as we’ve all heard time and again, owning their own home. What’s really interesting, however, is that what ValueInsured, the National Association of Realtors, and basically every other analyst and media outlet out there got out of this survey. You ready? This is a direct quote from the NAR:
“Women buying homes may need more reassurance and confidence in a real estate transaction than men.” That’s right. Ultimately, what the analysts derived is not that women might be more risk-averse than men when it comes to investing (it’s a proven fact) or that they might have different factors than men by which they evaluate real estate investments or the money that they sink into their home (clearly, women are less likely than men to view their home as an investment, which isn’t all bad). Instead, it’s that we need reassurance.
So what does this mean for men and women in real estate? Well, I think as I said at the beginning of this episode, the KEY THING is really that you need to have confidence IN YOUR NUMBERS. Based on ValueInsured’s survey, what I’m getting out of it is that women don’t need reassurance, they need cold hard facts that show they’re getting what they want out of a home purchase and, furthermore, can afford it. That’s not a bad thing! And guys, I’m not bashing you either. It is a GOOD thing to have confidence in your purchases, and I know a lot of guys probably cited owning their own home as the most important part of the American dream because culturally, a lot of the women in your lives rely on you (as they should) to provide the path to that ownership with them. In the end, the key takeaway here is that women and men buy real estate when they feel comfortable and confident in the numbers, and that’s a good thing because it means if your numbers are sound, then you will find a buyer for your deal, all gender considerations aside.
If you like the idea of sound numbers (and an equation to make sure that they work EVERY TIME), then I encourage you to sign up for our exclusive REI Today training with Sue Nelson, who I mentioned at the beginning of this episode. You can access it immediately at http://www.rei.today/IMPORTANT. And if you want to learn more about the gender gap and how it affects you INTEREST RATES on home loans, then take a quick peek in the REI Today Vault. Women get worse mortgage rates than men, and it’s conclusively NOT because of what you’re probably expecting. Check it out at www.rei.today/Vault right now, and if you’re not yet a member then don’t worry a bit, just text REITODAY no spaces no periods to 33444 and I’ll provide you with fast, immediate access to this startling information as well as sending you straight to a treasure trove of trainings, uncut interviews, breaking news coverage, and a lot more timely, insightful information that will help make your real estate investing safer, faster, and more profitable. That’s REITODAY no spaces no periods to 33444 or go to www.rei.today/vault for more information right now.
And remember, when you join us, you’ll When you do that, you’ll also be able to GROW YOUR NETWORK by interacting with me and your fellow listeners to REI Today… so stop by to ask questions, make comments and network with other investors across the country in addition to having the chance to interact directly with Sue herself.
REI Nation, thanks for listening in. Now, more than ever, please remember this:
Your best investment is ALWAYS your own education.
Carole Ellis is the host of Real Estate Investing Today, a popular 9-minute daily podcast focused on educating real estate investors about the important topics that will make their investing SAFER, FASTER, and MORE PROFITABLE. She's also the editor of the Bryan Ellis Investing Letter. She has more than a decade's worth of experience in and reporting on the real estate industry and, additionally, has written dozens of courses on the topic. Carole lives in Kennesaw with her husband, Bryan, and four children. She believes wholeheartedly that your best investment is always your OWN education.