Location: , Alberta
The commercial real estate industry lacks diversity. A recent study that included over 50 commercial real estate firms indicated that less than 15% of firms had diversity and inclusion programs; under 5% of companies had a budgetary item dedicated to diversity and inclusion, and only 23% of companies believed their diversity and inclusiveness efforts were effective. These statistics indicate that there is a need to make positive inroads towards fighting the systematic inequalities in the workplace and our communities.
Marginalization happens earlier on in the lives of individuals, creating barriers for potential candidates to even apply or become aware of opportunities. As it relates to real estate, rates of investment in real estate assets are lower within minority communities. The REET Institute believes that lack of awareness and access is the key reason for the lack of diversity in the industry and will address this by engaging Black, Indigenous, and People of Colour (BIPOC) youth in these communities at the stage in their lives when they are making critical decisions on future career prospects. By creating a pipeline of diverse talent into the commercial real estate industry, we will be able to improve the outcomes for communities that are underrepresented in the space and improve the real estate industry by partnering with corporations to improve the different diversity and inclusion objectives.
This project is a small first step in helping the REET Institute is to develop the next generation of owners and business leaders in the commercial real estate industry by providing access to skills and resources.
Real Estate Leadership – Improve capacity and understanding of real estate professionals and/or consumers on real estate issues.
Real Estate Leadership – Advance the real estate industry as it recovers from the COVID-19 pandemic through research and/or implementation of policy, practices, or educational initiatives.