In an overwhelming show of support, the Real Estate Institute of Queensland (REIQ) membership have voted to change the Constitution, reserving two Member Director positions for women and one for an under-35 Member Director.
These changes mark a shift for the 100-year-old organisation, signifying a drive to ensure greater diversity in the boardroom and bringing it into line with modern corporate Australia.
“Women make up 50.6 per cent of the population in Queensland and yet they are under-represented at a boardroom level throughout the state,” REIQ Chairman Peter Brewer said.
“Governments and corporations are introducing these targets to ensure that a range of ideas from diverse backgrounds are heard at all levels and the REIQ is among them,” Brewer said.
To change the Constitution, a special resolution requires support from at least 75 per cent of the membership.
In its 100 year history, the REIQ membership has elected only seven women to the Board and only one under-35-year-old Member Director.
This Constitutional change reflects the new three-year strategic plan that focuses on inclusivity and diversity.
“Like all membership organisations, we are struggling to connect with younger people and we want to make sure that our decisions are made with the entire membership in mind, reflecting the diverse range of voices and experiences that go into our Queensland real estate practitioners,” Brewer said.
The current REIQ CEO is Antonia Mercorella, who is the first female CEO to be appointed to the role. The REIQ Board already mandates two positions reserved for regional Queensland members.
Mercorella lauded the Board for its efforts and success, telling WILLIAMS MEDIA the initiative is a bold step towards modernisation and developing deeper relationships with all REIQ members.
“Introducing targets at the Board level is how corporate Australia is tackling the problem of a lack of diversity.
“Diversity is important because it better ensures that vigorous debate takes place, that the best ideas win approval and that all voices are heard before a decision is reached,” Mercorella said.
The changes to the Constitution are expected to be rolled out over the next two years, and be in full effect by 2020.
Read more about the changes to the Constitution on the Real Estate Institute of Queensland website.
Related reading:
Why real estate is a good industry for women
Property firms strive for gender balance
Prominent Queensland agent Sherrie Storor takes Women in Real Estate event national