NEW YORK—The current market is no time for women in the construction business to be wallflowers. Now is the time to be noticed, said Jane Snoddy Smith, national president of CREW, a networking group of construction professionals.
“It is all about the network,” she said, adding that of the 9,000-member organization, more than 63 percent are presidents or CEOs.
CREW researched market opportunities for women looking to keep their jobs, find jobs, or reposition their careers.
“It’s not just about finding a job, it’s about keeping a job,” said Barbara Champoux, Esq., Research committee chair and partner of Crowell & Moring LLP.
“The white paper talks about using the skills you have to become visible in your company,” she said. “It’s a way to navigate these waters.”
The white paper “Repositioning Your Real Estate Career to Succeed in an Era of Change” was discussed in New York last week and Champoux was in attendance to offer sage advice.
“We need to learn from those linear thinkers and focus, have some single-mindedness,” she said. “Also, those who are linear thinkers need to learn to think out of the box, think creatively.”
Champoux suggests knowledge, a candid self-assessment, and strategy as a three-pronged approach to come out of the recession on top.
“The market’s about ready to crack open,” Snoddy Smith said.
Know the Market Impacts
While it’s too soon to know how the overhaul of the banking system will play out, it is undeniable that the financing of real estate has undergone a long-term shift, the report notes. “The era of high leverage is over, replaced with a more conservative market environment for the foreseeable future.”
Almost $40 billion in commercial real estate debt is set to expire in 2009, and upwards of $50 billion in debt will expire the following year, according to the CREW white paper. If property owners are unable to refinance or extend this debt, defaults could result. Those experienced in bankruptcy, reorganization, and workouts will find themselves in high demand, the report suggests.
