EDITOR’S COMMENT There’s nothing I love more than feeling proud of this industry.
When we bring together the EG Future Leaders and I see these vibrant, big thinkers talk so passionately about what they believe real estate can do, what they want to do with the unique ability they see real estate having to bring about positive change, I feel so proud. On more than one occasion, I’ve welled up because I feel so moved.
And then there are the EG Awards, for which we have been going through the submissions we received this week to pick our winners (pick up your 1 July issue to find out if you’ve been shortlisted).
This is when we get to see what businesses are doing around social impact, around sustainability, what innovations they are coming up with to deliver a better real estate sector, we hear from companies about what makes them proud, what they are doing to deliver for their employees and we get a look inside the deals that have been done, deals that bring jobs, homes and investment to places. We get to see the clever things this industry does, how it keeps moving even when times are tough. And then in October, we get to celebrate it with you. And that is one of my favourite nights of the whole year.
But then there are times when I feel the complete opposite of pride. I feel shame about this industry. And it brings a tear to my eye for an entirely different reason.
This week we publish the results of our annual LGBTQ+ Attitudes & Actions survey. The results aren’t terrible. Progress is happening. And almost three-quarters of respondents – the majority of whom are LGBTQ+ – would recommend real estate as a great industry to work in for members of their community. That is something of which to be proud. An endorsement that you’ll be welcome here, no matter who you love. You’ll be safe here. You won’t be subject to discrimination or microaggressions.
But not all of the industry is a safe place. Since we began the LGBTQ+ survey in 2017, there has been one part that is consistently called out as a place that doesn’t feel safe, that isn’t welcoming, that should be avoided. And that’s not just for LGBTQ+ people, we hear it from women and people of colour too.
Around half of respondents to our survey label transactions and capital markets as the least inclusive part of the sector, a percentage that has barely shifted since 2017 – 51.4% to 48% this year. Only 9.7% of respondents said that from a diversity & inclusion perspective they would prefer to work in transactions, with the majority (35.4%) choosing consultancy.
This is unacceptable and shame on you if you work in this sector and are not doing all you can to be the loudest, proudest ally. Think of all the talent you are losing out on because there is still this perception of transactions as “old-fashioned boys’ clubs”, that are “more exclusively male with a laddish culture”.
I have such great affection for this industry. I know it should be the greatest business sector to work in. I know there are smart, thoughtful and truly wonderful people in it. And I know there are those people in transactions and capital markets teams, so I call on you to make us proud.
To anyone and everyone working in transactions I call on you specifically to use this great power you have to move the dial forward on diversity & inclusion and make transactions the most exciting part of this sector for all talent to work in. If anyone can do it, it is you.
A special mention this week to Gaynor Warren-Wright, who bravely shared her story of transition in these pages in November 2021. Gaynor was a warrior. A loud and powerful voice for trans people – and people in general. She sadly passed earlier this year. Our survey tells us trans people are still facing a tougher time than most in this industry. My call on you, dear real estate, is in her honour.
Make us – and Gaynor – proud. I know you can.
To send feedback, e-mail samantha.mcclary@eg.co.uk or tweet @samanthamcclary or @EGPropertyNews
