Toward the tipping point

Momentum is building when it comes to diversity in commercial real estate.

While more and more women have flocked to roles in residential sales and management over the past several decades, the commercial sector has been slower to evolve.

The dial is shifting, with Bayleys leading the charge through some key appointments and a dedicated focus on not just recruiting more women into sales and management roles, but supporting them to success with initiatives like the networking and mentoring group BCREW (Bayleys Commercial Real Estate Women).

Some of the industry’s successful women talk about how they’ve found their success, the challenges they’ve faced and what they love about working in the commercial real estate sector.

Paula Bennett

Bayleys national director of customer engagement and advisory

“I wanted to work with Bayleys. I loved that New Zealand success story,” Bennett says of her career choice following her retirement from national politics in 2020.

Her role with Bayleys sees her using her unique experience to work with clients - often the company’s high net worth or private wealth investors - helping them navigate advisory and compliance issues or advocacy. “I love it because the people are interesting and it’s about giving them that really personalised service.

“I really love it if something gets a little bit complicated. The market has changed a lot recently, but I like that too. Change doesn’t worry me. It makes you roll up your sleeves and think quite differently about how you approach things.”

Bayleys has also charged Bennett with driving its vision to bring more women into its commercial division. “Bayleys has really given me a lot of scope to work in that area. In the last 18 months, we have doubled the number of women brokers we have. But it’s not just about attracting them, it’s about retaining them. So, we’re constantly looking at ways to make this a place that women choose to come and work.”

To that end Bennett has been behind the launch of BCREW, ensuring there is a network for women in the business to mentor and support each other.

“We also look at things like how we keep women connected to the business who need to take time out for family commitments, because that can look quite different in a commission-based organisation.”

Bhakti Mistry

Bayleys Wellington commercial broker

When Bhakti Mistry was studying for a degree in visual communication design, she found she was much more drawn to the marketing aspects of her study, than the design elements.

After working in marketing roles for a luxury car sales brand and another real estate company, Mistry took the leap to get her real estate licence. She considered a more senior marketing role in residential but was soon drawn to the commercial sector.

“I like the fact that there is no emotive attachment in commercial sales. It’s really just a numbers game, and it’s about building relationships and having the confidence to go out there and work the deals.”

Mistry adds that she likes the challenges of being one of only a few women in her team. “I feel like I added a different dimension to the team when I started, that the team could leverage.

“It’s such a confidence booster now that people ring and ask for me specifically to sell their property.’’

She says seeing women succeed in commercial property is the best way to keep attracting other women into the sector. “The other reason it’s increasingly important to have more women in commercial sales is that there are more and more women in every aspect of what we do, whether it’s on boards, in business or among investors. It’s good to have those different perspectives on both sides of a deal.”

Gill Ireland

Bayleys Nelson commercial broker

Gill Ireland “eased into’’ her career as a very successful commercial broker after several years in commercial property management. Before that though, her career was international and included everything from managing property for the Duke of Westminster to working in the bond markets, hedge funds and stock broking.

“With all that, the commercial sector seemed to be the natural progression for me, rather than residential. There is something new every day.”

Ireland arrived in Christchurch about 10 years ago with her son - needing to find a job and somewhere to live. With the city still largely under construction, she headed north to Nelson and Bayleys.

“We just found our way. And when it came to working in property Bayleys was the strongest and best brand. For me, there was no one else to consider.”

As a newcomer to the region and commercial selling Ireland says there have been some challenges making inroads, but it is extremely satisfying to see that early hard work pay off.

“Now people come to me. It took a lot of hard work, determination and a bit of stubbornness at times to get me there, but that is a big achievement to me.

“My advice to other women coming into the sector is just don’t take any nonsense. You have just as much right to be there. Some doors might close, but you just have to move on to the next door.

“It is great to see Bayleys being so proactive about getting more women into the industry. That has really been championed by Mike Bayley and Ryan Johnson and it is paying dividends.

“I’ve seen it before when I worked at the City of London. When I started there it was predominantly male and then women started coming in. They brought with them a whole different set of skills and they really proved themselves.”

Eos Li

Bayleys Insights and Data analyst

Li joined Bayleys in 2019 as part of the property services team - after graduating with a Bachelor of Property from Auckland University with the highest grades in her class and was named the Property Institute of New Zealand Student of the Year 2018.

While working for property services, Li kept up her studies in a range of topics from computer software to financial analysis. At the start of 2022, she made the move into the newly formed Data, Insights and Consulting team at Bayleys where she loves the challenge of contributing to key decisions in the business.

“As one example, earlier this year we used the GIS mapping tool to map out Bayleys’ market share listings to see which areas the company could develop a stronger presence in. We opened a new branch based on that analysis.

“Externally, we also put together market updates and analysis so people know what is happening in the market.’’

Li’s interest in commercial property formed when she was working as a French interpreter for a large construction company in Algeria, after leaving her homeland China and before moving to Auckland to study.

Her next goal within Bayleys is to keep looking at ways new technology can be combined with traditional practices to create more value for the company and the industry.

“That work is really satisfying.”

She is also pleased to see more women in the commercial sector, and takes pride in shaking up some outdated attitudes towards women in technology./p>

“I think I am proof that women are just as good at things like technology and financial analysis, where sometimes people might have thought that’s not true. It’s important to have more women in all parts of industry, so you get diversity in opinions and views.”

Andrea Wong

Bayleys Property Services Auckland regional manager

“Property is in my blood,’’ says Andrea Wong who comes from a family of real estate experts as well as architects and town planners. With a bachelor’s degree in property and a masters in planning practice under her belt, she launched her career in property management.

“You do have to be flexible and develop a bit of a thick skin. The challenge is always finding the balance between happy tenants and maximising the income for the owners.

“I do love that property management is all about dealing with people. You have to adapt to suit different clients’ expectations, as well as tenant expectations and other parties that assist in keeping properties compliant. I like being the middle person between those parties and having to quickly adapt to different personalities and expectations. No two days are the same.”

Career progression is something else Wong is proud of, particularly her move to being Auckland regional manager overseeing a team of 10.

“Bayleys is really good at supporting career progression, but it’s also good to create opportunities. When this role presented itself I approached the general manager at the time and let him know I was ready to spread my wings and tackle this exciting opportunity.”

She’s also thrilled to see more women succeeding within Bayleys. “I went to a recent women in property BCREW session and that was really inspiring to see more women in top roles.

“I think what I’d like to achieve next is to start mentoring other women to help them have a voice in this industry and have the confidence to take the next steps in their career.”

Jordan Brown

Bayleys South Auckland commercial broker

Brown has been a commercial broker for over three years, having started her career as an administrator for the Bayleys Central West Auckland commercial and industrial team in 2016. With a deep passion for property and a desire for professional growth, Brown made the leap to get her licence, having admired the handful of women then working in the commercial sector.

“I watched those ladies push the boundaries of an industry that was very stuck in its ways. I wanted to take on the challenge and pave the way for others like me.

“I felt the commercial and industrial sector was best suited to me and I haven't looked back. It can be tough at times but I push passed it because I love what I do.”

Brown says her biggest challenge has been navigating the rapidly changing market since she started as a broker, just a year before COVID-19 upended everything.

“I've had to reflect and re-evaluate which has been challenging, but I take pride in providing comfort and finding answers despite what we go through. If I can get through this, I can get through it all.

“My goal is to be a trusted advisor in Central Auckland, build my market knowledge and continue to create a strong rapport with clients and networks within the property sector.”

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