Empowering Women in Real Estate: WX’s Three-Decade Legacy

For three decades, New York Women Executives in Real Estate (WX) has been empowering women to build successful careers in the industry, supporting them at all stages of their professional development. The group’s mission is to promote the advancement of women in commercial real estate, enhance the public perception of the role of women within the industry and promote the highest standards of professionalism, ethics and integrity in the field.

We had the privilege of speaking with two WX Board members — WX Scholars Committee Chair Lauren Holden, and WX Mentoring Committee Chair Lola Bellini — on two of the group’s instrumental programs that advance WX’s mission. The WX Scholars Program awards scholarships, both merit and financial, to bright and talented young women pursuing careers in real estate and related professions in the New York metropolitan area. The WX Mentoring Program was designed to support these scholarship recipients, the WX Scholars, as they embark on their careers by providing them with mentors from among the WX membership.

Since its inception 20 years ago, the Scholars Program has awarded 415 women at 18 schools approximately $2 million in financial support. WX Scholars also benefit from the opportunity to participate in the WX Mentoring Program for up to two years, to attend WX programming and events such as its monthly WX breakfast events, providing WX Scholars with professional development and networking opportunities that can make an impact on their career trajectory.

“Over the last several years, we’ve pivoted our application process to lean into the scholars where we can make the most difference,” Holden said. “This year, 60 percent of applicants were from underrepresented backgrounds – maybe they don’t have family or social connections yet in the real estate industry, but WX can make the difference by facilitating innovative relationships between these scholars and WX members. We partner them with the right mentor, coaching and interview assistance and provide exposure to wider networking.”

And the impact of the program on students’ professional journeys speaks volumes.

“We’ve had meaningful success stories. One scholar was sure about taking a new job and her mentor coached her through the process – all about never burning bridges, and maintaining the connection with colleagues and supervisors. It turned out this scholar felt she’d made a mistake in moving jobs, and because of this coaching she found the transition back to her old position much easier. She’s still there 10 years later,” Holden said.

“Some WX Scholars have gone on to become members and mentors, which has been very gratifying. We’ve watched mentees grow professionally and broaden their networks – both with peers and senior professionals – in a way that wouldn’t have been possible without these programs. Several have even found employment with members’ organizations. Former WX Scholars who have participated in these programs have organized themselves into an impressive WX alumni network that is a part of the broader WX community.” Bellini said.

This year’s cohort of scholarship recipients also saw an uptick in undergraduate applications, whereas past years had skewed towards post-grad programs, and new school representation outside of the Northeast. The application process opens in November and closes in late January, and puts an emphasis on what students want to get out of the program and how their educational trajectory relates to the wider real estate industry.

With the WX Mentoring Program, Bellini noted that mentees are exposed to programming designed to highlight the “breadth and depth of the industry, and are provided access to senior women in the industry, in the form of their mentors and other WX members. We’ve been told countless stories of how these programs and relationships have benefited our Scholars.”

Connecting WX Scholars and mentors is both an art and a science. Each WX Scholar submits an application if she chooses to participate in the WX Mentoring Program. The information is then used to pair the WX Scholar with a mentor. WX Scholars must commit to engage with their mentor on a regular basis and attend four core program events each year, and any optional workshops and events they choose.

“When you start out, you don’t know what you don’t know. This industry is so broad and there are many career paths. We want to expose WX Scholars to the possibilities, to inform, inspire and help them navigate the path they choose for their careers,” Bellini said.

And how can the wider real estate community support these programs?

“We encourage the industry to support the WX Woman of the Year Gala and WX Summer Golf Outing, which fund the WX Scholars and Mentoring Programs. And if you know a bright woman who will soon be graduating from graduate or undergraduate studies and wants to pursue a career in real estate in the NY metro area, tell her about the WX Scholars and Mentoring Programs. It’s an amazing opportunity, and she’ll thank you for the rest of her career.”