In the early 1980s, several years into my commercial real estate career, I hit an impasse. My position at the time, although enjoyable, had lost its challenge and seemed to have a limited financial upside. I turned to a trusted industry veteran, and asked his advice on what I could do to advance my career and increase my earning potential. With all good intentions, he replied, "Go sell houses."

That might have been good advice in the "old days" when successful real estate women bought and sold houses, and successful real estate men built, bought, sold -- and owned -- everything else. Since the early 1980s, when women in decision-making positions were a notable exception, times have certainly changed. The process over the past several decades has been steady and gradual, brought about by a spirit of evolution rather than one of revolution. Women did not rise up and demand a place in the commercial real estate industry. They created places for themselves by capitalizing on opportunities as they came along and by contributing to their own successes through hard work, perseverance, seeking out and taking responsibility, and exceeding people' expectations.

The fifteen female professionals interviewed for this article represent three generations of women in the industry. Some are well seasoned, with 25+ years of experience in real estate, while a few are up-and-comers just beginning to learn the ropes. Many came to real estate by accident, and then stayed when caught by the inherent excitement of fast-paced transactions and the entrepreneurial spirit of a risk-taking industry. They represent diverse facets of commercial real estate: marketing, leasing, development, brokerage, design, acquisitions, investment advising and ownership. Their personal experiences of the industry over the years are as different as their current job titles. But they all have one thing in common: a passion for what they are doing and a respect for an industry that is now acknowledging women as decision-makers, leaders and principals.

In the late 1970s, when Gloria Waddell began her career in commercial real estate, she was the first woman to be hired by her initial employer for a position above the administrative level. She has also held this distinction with three other employers over the years. She credits her father for her ability to succeed in what could have been potentially isolating circumstances. "My father taught me that I can be anything I want to be," she says. "He also taught me the value of hard work and persistence."

This philosophy has served her well. Now vice president of leasing for Ackerman & Co. in its Atlanta office, Waddell believes working hard, making commitments, and then consistently keeping them, have been some of the keys to her success. And in the early years of her career, rather than feeling separate from the men she worked with, she learned from them. "The more you learn, the more self-sufficient and productive you can be. And in this industry, being productive will greatly contribute to your success."

Brett Womack, principal with Divaris Real Estate, happened upon real estate by chance. In 1976, she answered a classified ad that led to a position as head of an association for apartment owners. She built the organization from scratch, starting with "an empty desk and an empty file cabinet." She found the legislative side of her position intriguing and became very active -- and visible -- in trade associations. During this time, she also met a trailblazing woman who owned her own real estate company. This woman took Womack under her wing and taught her investment strategy and the ins and outs of acquisitions and syndications. After five years, Womack accepted a position with a small retail developer and the next piece of her career path fell into place. She had the opportunity to be involved in several development transactions from many different aspects and, most importantly, she "began to look at real estate from an ownership perspective." She enhanced her on-the-job learning by seeking out educational opportunities through the International Council of Shopping Centers (ICSC). Womack feels that being a woman did not impact her ability to be successful, but, in the early days of her career, sometimes she did have to work harder to gain credibility in the industry.

In her current position as principal of Divaris' regional office located in Richmond, Virginia, Womack oversees the day-to-day operations of that office and its dealmakers. She feels that the variety of skills she learned in a small company environment laid the groundwork for being able to manage and to grow a larger organization and build a strong team. It also prepared her to handle the variety of responsibilities she successfully shoulders today.

Ray Uttenhove came to real estate after spending her early career years as a school psychologist. "I was always attracted to the entrepreneurial energy of the commercial real estate industry, and I was fascinated by retail," she says. This fascination has stayed with her through several career stages and today, 22 years later, Uttenhove is senior vice president of the retail services group of CB Richard Ellis, based in Atlanta. In her position, Uttenhove focuses on putting together and directing effective teams, as well as establishing and maintaining long-term partnerships with retailers.

Uttenhove credits her success to a variety of factors that fell into place over the years. "I had some strong female mentors in my life from very early on. My mother was a politician and my grandmother owned and operated her own company." She remembers the early days of her career as being a time when there were very few women in the industry. "Over the years, the number of women in the industry has increased, and the industry is still working on ways to capitalize on their expertise and to create opportunities for women and other minorities." For Uttenhove, education has made an important contribution to her success. "You can never learn enough. And it is important to seek out a workplace that provides a learning environment -- one that supports you in continuing to learn and to grow."

When she took her first job in the commercial real estate industry in the mid-1970s -- a summer job helping with the opening of a mall in Richmond, Virginia -- Charlotte Ellis thought it was interesting, but did not consider real estate to be a plausible career path to follow. She was raised during a time when it was "thought that women were not supposed to be interested in real estate -- they were supposed to help people." She followed a more acceptable career path and taught school for several years. Then a real estate opportunity came her way and she moved to Orlando to manage a mall. After several years in this time-intensive position, she went to paralegal school. But she found that this type of work was not creative enough for her. Another opportunity in real estate showed up and she enthusiastically returned to retail.

Today, as senior vice president of marketing for Konover Property Trust, based in Cary, North Carolina, she is more than satisfied with the course her career has taken. When asked about her success, Ellis commented, "I never really felt that I was held back because of being a woman. In fact, I felt I was able to stand on the shoulders of some other women who had already made strides in the marketing side of the industry." It is commonly noted that women have generally been more visible and accepted in the marketing-related areas of the industry. Konover has shown its enthusiasm for women as professionals in some other areas as well. "We have four female senior vice presidents heading the legal and investor relations areas, in addition to leasing and marketing. Yet, throughout the industry, there are still some areas that are primarily uncharted waters for women -- especially development." Things in this male-dominated area of the industry are slowly beginning to change also. Sandy Fitzgerald' career is an example of this growing trend.

Fitzgerald entered commercial real estate through the unusual doorway of development. "I was in the development side of the business from the very beginning. I didn1t plan it that way and happened upon my first position by being in the right place at the right time." Fitzgerald had shown during her college years that she is a high achiever. She graduated from college a quarter earlier than other members of her class and, thus, was working the job market while they were still studying for finals. She was hired by The Vantage Companies, then a four-person organization, and "I got to do everything," she says. "This made a huge difference in my career, and I got to work on some very exciting projects like Atlanta Plaza." During the real estate crunch of the early 1990s, Fitzgerald returned to Emory University to pursue a law degree. She was an associate with a law firm for several years, but real estate kept calling to her. Finally, one of her legal clients lured her back into development. "I was delighted to be back doing what I love." She continues to be a strong player in the development arena today in her position as vice president of development for Carter & Associates, based in its Atlanta office. Was her career affected by the fact she is a woman? Fitzgerald says, "Yes, in the earlier days of my career. There were some challenges not just because I am a woman, but because I was also young. But once I started working with someone, it did not take long for us to develop a strong sense of mutual respect."

Robbie Whyte, president of Whyte-Kerner Environmental Graphics & Design, an Atlanta-based design firm, feels that she had fewer hurdles to overcome than most women when she started her own firm about 13 years ago. "The design industry has historically been more female-oriented. Still, things have changed for me over the years because now I am contracting with more and more women for the use of my services." Although starting her own business seemed like a gutsy move at the time, Whyte is glad she took the initiative and turned her desire to have a flexible schedule in order to be able to spend time with her children into a successful career. Her willingness to step out of the box has paid off. She credits her family -- and primarily her father -- for nurturing her entrepreneurial spirit and for instilling in her a strong personal ethic based on integrity, honesty and kindness.

By the mid-1980s, the number of women in the real estate industry had begun to reach a certain critical mass that allowed some women to push forward into higher positions as their careers advanced and their experience levels matured. The environment for women entering the industry during this time took on a different feel. More often, beginning professionals had women mentors they could turn to for advice and contacts. Women also found other women with whom they could do business as peers.

Karen Burkhart Dick began her commercial real estate career in 1986 after graduating from Georgia Tech University with a master' degree in city planning. "I did not face the same obstacles that confronted women 5 or 6 years before me. I feel I came in after the bar had been raised somewhat." Dick' career path has included a variety of positions. She was initially research director at Central Atlanta Progress and then worked in a consulting capacity with Landauer Associates. For 13 years she was a partner in the consulting firm of Haddow & Associates. In 1998, Dick joined Ackerman & Company as executive vice president. Officed in Ackerman' Atlanta headquarters, Dick is in charge of the company' brokerage operations and responsible for managing the brokerage team. "Brokerage and transactions are the guts of the industry. It' exciting. My job is very diversified, and I get to wear many hats. I thrive in this high energy environment."

Dick has been very active over the years in trade organizations. She is past president of both the Real Estate Group of Atlanta (REGA) and the Atlanta chapter of Commercial Real Estate Women (CREW). To Dick, success is a relative word. She believes she is successful because she enjoys what she does. One of her main keys to success is being involved in organizations. "It is networking with other people that is important, because essentially this is a Øpeople1 business."

As a finance major in college, Jodie McLean always had a vision of building her own business that would focus on creating commerce and financial opportunity. During her senior year, she did an independent study on entrepreneurs and met Joe Edens. She was attracted by his success and by the excitement of the transaction side of the real estate industry. She made a deal to work with Edens & Avant for two years following her graduation -- and that was 11 years ago. McLean has never let being a woman become an issue. "I never questioned whether or not I could do something. I just thought about when and how I would get it done."

Today, as chief investment officer for Edens & Avant, McLean runs point on all asset acquisitions. And over the years, she has acquired an incredible number of properties. Today Edens & Avant has a portfolio of over 200 assets with an estimated value of over $1.8 billion. "I love transactions and negotiating and the creativity involved in strategic planning." McLean reached a high level of success by the time she had barely reached her early 30s and found that being young was a harder barrier to overcome than being a woman. How did she do it? She worked hard and smart. "I got [to the office] early and I drank a lot of coffee. I also had great mentors, particularly Joe Edens, and I mirrored what they did to be successful." McLean feels she has not hit a glass ceiling in her career and that there are many opportunities for women to succeed in this industry. "My advice is work hard, do what is necessary to get the job done, seek out support when you need it and offer support to others."

Susie Levin Rice, president of RMC/Konover Property Trust based in Tampa, Florida, also believes in the power of people. She has a strong commitment to her employees, and in return, they have a strong commitment to her and her company. "I am surrounded by great people that have the level of motivation, drive and commitment needed to be successful." Rice began her career in the mid-1980s by working for the Federal Reserve in New York for several years. She then returned to Florida to work in her family' real estate business, RMC Realty Company. Her doorway into the industry was retail leasing, and she feels her years as a leasing agent gave her an understanding of the commercial real estate industry from the ground up. This prepared her for moving into position as a top manager and business strategist following her father' death in 1995. "That was the biggest hurdle in my career -- trying to decide what direction to take the company in after my father died." She ended up deciding on a growth path and began to hire top professionals to catalyze and support that growth. Rice and her team built a strong portfolio and in 1998, RMC was sold to a public REIT. Rice was named President of RMC/Konover and she today oversees the operations of the company and coordinates the activities of its 60 employees. Rice says, "There is no challenge big enough and there is nothing [she and her team] cannot accomplish." To what does she credit her success? "Hard work, vision, drive, motivation and being surrounded by great people. That is a winning combination."

Marjy Soens Stagmeier has been captivated by real estate since the first time she played Monopoly as a child. She loved buying properties then, and she loves it even more now. As managing director of The TransInvest Group, Soens Stagmeier is actively trailblazing in what she thinks is a next big frontier for women in the commercial real estate arena -- ownership. "From an early age, I always wanted to own commercial properties. Both my mother and my father are entrepreneurs and I was raised to think like one." Before opening TransInvest in Atlanta with a partner, Soens Stagmeier paid her dues. She received a degree in finance and accounting from Georgia State University and went on to become a CPA, although she never practiced as one. "It did open many doors for me, but I was consistently focused on real estate." Throughout her career, she has been involved in property management, asset management and due diligence. In 1994, she co-authored and published a book titled, Real Estate Asset Management: Executive Strategies for Profit-Making. She says her keys to success have been a positive outlook and strong determination. "Everyone has Øbig break' along their career path. The key is strategically capitalizing on the right opportunities. It is also important to know how to pick your battles. In most cases, if you are patient, things will turn around." Soens Stagmeier feels her career was impacted somewhat by being a woman. "It seems that executive women in our industry are either put up on a pedestal or ignored. I did not like either option. When you are an owner, the playing field is even." Soens Stagmeier is a strong proponent of women creating and seeking out opportunities to own real estate. For her, it is the wave of the future for women in the industry, and she plans to continue to lead the way for other women who want to follow this path.

Beth Azor, president of Miami-based Terranova Corporation, has had her real estate license since she was 18 years old. She began her career in the residential sector by working part-time on weekends. Then she heard about Terranova Corp. and applied to its trainee program. That was 14 years ago. "I saw the commercial real estate industry as an opportunity to learn and an opportunity to build financial success." She has turned that opportunity into a successful and highly visible career. Throughout her career, she has developed and maintained relationships with major retailers and leased some exciting and challenging projects. "I believe in hard work. The harder you work, the luckier you get." But hard work is only one of the foundations of her success. "I believe in building success through being persistent and creative, having a passion for what you do and by developing trusting and strong relationships with peers. Discretion is a necessary component of any long term relationship, whether with a client, a retailer or a co-worker."

Azor sees the industry opening up for women in all areas -- not just marketing. She stresses the importance of taking advantage of the benefits offered by trade organizations, particularly ICSC, in which she has been very active. She believes in relationships and feels ICSC provides one of the best venues in which they can be developed.

"I credit my current employer, Jones Lang LaSalle, with creating an environment in which I had the opportunity to be successful," says Catherine Stephenson, chief operating officer of Jones Lang LaSalle Americas Retail Group. "Over the years, the company provided me with great coaching from some great people." Stephenson started her career as a brand manager for Quaker Oats and found that the skills learned in managing a product brand were easily transferable to real estate. Retail attracted her from early in her career "because it has many more dimensions to it than other areas of the industry and offers me the opportunity to interface with many different personalities." A

s she followed her career path, Stephenson moved from city to city to take advantage of emerging opportunities. From Chicago to Dallas to Cincinnati to Chicago again and, finally, to Atlanta, where she is now based, Stephenson had the opportunity to be involved in the leasing and marketing of some high profile, exciting projects. One of the keys to her climb up the success ladder has been "my ability to step out of my comfort zone and take risks. I learned more by stretching further each time and by focusing on exceeding people' expectations." Today, she focuses on creating innovative solutions for Jones Lang LaSalle' portfolio and clients and on learning to take advantage of a company network that spans the globe. "Globalization is exciting and it is energizing to be on the leading edge of this trend."

As the commercial real estate industry begins its journey in the 2't century, the landscape for women continues to open up. Although no specific statistics are available on the number of women who currently work in the commercial real estate industry, the number of females attending real estate programs at colleges and universities is an indication of the future gender configuration of the industry. The statistics for enrollment in the undergraduate real estate program at the Georgia State University in Atlanta point to a trend. In 1996, 33 percent of students enrolled in this program were women. By 2000, this number had risen to 51 percent.

For women entering the industry today, the experience is qualitatively different than it was two decades ago. "I feel the trail has been blazed and I am able to walk forward much faster than women have in the past," says Mindy McIlroy, a three-year commercial leasing associate with Terranova Corp. But with the pros of being a woman among a growing number of women, there are also some cons. "With fewer women in the industry, each woman was more visible and memorable. Now, as more women populate the industry, it takes a little more work -- sometimes twice as much -- to stand out." Ultimately, this is positive because doing the best job and providing the best service will remain more important than gender, as it should, according to Stacey Law, a broker with NAI/Brannen Goddard in Atlanta. Law has been in the industry for four years. She feels her success will depend on her abilities and on what she makes of the opportunities that come her way. She says that being a woman is not an additional hurdle to making it in a highly competitive market. "I feel free to be who I am and to take the strengths of being a woman and develop them in this industry."

Thanks to the perseverance, hard work, commitment and professionalism of some trailblazing women, what a difference two decades make.

Karen Stone, CCIM, is a commercial real estate consultant and a freelance writer based in Atlanta, Georgia. She provides transaction management, due diligence and marketing services to the commercial real estate industry.

©2001 France Publications, Inc. Duplication or reproduction of this article not permitted without authorization from France Publications, Inc. For information on reprints of this article contact Barbara Sherer at (630) 554-6054.