Earlier this summer, EG published an anonymous column from an industry specialist who left the sector over racial discrimination. He spoke out after witnessing racist attacks aimed at English football players, including a tweet allegedly sent by an employee of a major real estate agency. The column encouraged many of those still in the industry to examine how change could happen.
But EG’s latest Race Diversity in Real Estate survey showed just how little change is being made. Some 84% of ethnic minority respondents felt that racism was an issue in the real estate sector, while three-quarters had experienced racism. Both of those figures were higher than in our 2020 survey.
Here, the author of the earlier column responds to the survey and underlines his earlier call for the industry to take the problem, and its response, more seriously.
COMMENT I am saddened to read the findings of EG’s race survey. Words are simply not enough. We can no longer claim that racism is not within our society and be happy with shallow progress. It is telling that not one real estate organisation has published racial pay gap figures. I imagine they all know it will further illuminate the issues within the sector.
It is becoming clearer and clearer that great work is needed. There continues to be a lack of visible diverse leaders within real estate. This continues to create a non-inclusive industry where not all parts of society can thrive. This is not only a moral blight – this lack of inclusion will alienate real estate from the wider public, the ultimate customer.
Imagine if there was more diversity in real estate. There would be a greater emphasis on designing inclusive spaces that stood the test of time. Instead, in sectors such as retail, the lack of diversity has led to the creation of empty retail malls that do not resonate with a diverse public. Sadly, real estate leaders know this all too well.
There need to be more women and more diversity. There needs to be more statistics about hiring, retention and pay gaps in relation to diverse candidates. If a sector is truly serious about diversity, these figures should be published. At present, there are no goals just empty platitudes.
Until we are in a place where companies spend more on D&I than MIPIM, I am afraid that all these words of wanting to do better are mere hot air.
