A coalition of the property industry’s most senior executives unveiled a new campaign to guarantee that women have a meaningful part in important leasing and capital transaction assignments.
The Property Champions of Change devised the ‘Pitch Pledge,’ which attempts to ensure that at least one woman is part of the bid and receiving teams on both sides of each transaction.
The pledge was made by Phil Rowland, Chief Executive of CBRE’s Pacific Advisory Business, Carmel Hourigan, Office CEO at Charter Hall, and Kylie O’Connor, Head of Real Estate at AMP Capital, at the industry’s top national conference, The Property Congress in Hobart.
The statement also includes a pledge to launch a new pilot cadetship programme in FY23 for up to 15 women at the start of their careers, who would be placed exclusively in capital markets and commercial leasing teams in Property Champion of Change organisations.
The Champions of Change Property Group has also created a pay guide to encourage best practises in the sector’s attraction and retention of women.
Bob Johnston, Chair of Property Champions of Change and Chief Executive Officer of the GPT Group, stated that the new promise is about addressing gender parity in two of the most difficult areas for women in property — capital transactions and leasing.
“This is a significant move that sends a very strong message to our sector,” Mr Johnston said.
“So often at the moment, major deals in property take place without any women on either side of the table, and if we are to change that, we must collectively act,” Ms O’Connor said.
Mr Rowland said the pledge came from some of the property industry’s most powerful figures, represents a commitment to grow and develop career prospects for women in some of the industry’s most male dominated fields.
Ms Hourigan said the pledge was not made because it looks or sounds good.
“It is about both sides of the industry, institutional and agency, coming together to make a difference and accelerate change,” she said.
“We understand that given the current low representation of women in some existing capital transaction and leasing teams, there won’t always be a woman in the room right now. But this new pledge aims to change that picture over time in a collaborative way. If that situation emerges, it is up to the participants to ask the tough questions about why, and what steps we are taking to ensure women are part of the business to come,” Ms Hourigan said.