Joanne Bolt: Welcome to The B Word, the podcast for women in real estate who want to unlock the clarity needed to put your big girl panties on and rock your career like the true boss you are.
I'm Joanne Bolt, your host, and together we'll dive into the things your broker doesn't teach you in order to own your own path, disown the things getting in the way of finding your place, and stop apologizing for the obstacles you had to overcome along the way.
If you're ready to stop playing small and take action in your professional life, this is the place for you.
Welcome back everyone to The B Word. I am your hostess, Joanne Bolt. I have got a super special guest with me here today, Amy Gregory. Amy is a fellow badass powerhouse real estate agent. Although we've never met in person, we're both eXp realtors. We've run in those circles, we've just never had the opportunity to sit down live for a cup of coffee or a glass of wine. So we're going to do it virtually here today on the podcast.
Amy, I'm thrilled to have you here today because our hearts align so much in what we do, but I'll let you kind of give a very brief overview.
Amy Gregory: Well, I'm thrilled to be here. I love breaking down businesses. I've always, my mind... Some people think about what they're going to wear or what they're going to make for dinner, and usually I am reverse engineering a business.
If I go to the movie theaters, I'm reverse engineering the business and my mind has just always worked that way. I've been licensed for 15 years and I've only been practicing for, gosh, coming up on six years here now.
Joanne Bolt: Congrats. That's a good milestone.
Amy Gregory: Thank you!
Joanne Bolt: Call me when you hit 20. I feel like a grandmother in real estate.
Amy Gregory: Well, I feel like a grandmother on social media, but that was kind of my thing.
Joanne Bolt: Then I'm the great grandmother. That's a flat out.
Amy Gregory: Right? Well, I remember very first... Sitting down in my broker's office and him saying, "Okay, like where do you think your transactions are going to come from?" I was just like, "Instagram." He kind of looked at me and I'm like, "No, I'm serious."
I was naive enough... I mean, my broker is like big time. My previous broker, before I was eXp, they're some of the biggest players in real estate. They founded companies, Wall Street's invested with them, they've rung the bell on Wall Street.
I'm just this little girl like, "Well, I'm going to use Instagram!" He kind of looked at me and I was like... Actually I told I had the cahones to sit and say, "Well, actually you should be using Instagram too"
He was like, "Oh really? How should I be using Instagram?" At the time they were flipping properties and I said, "Oh, well, you should brand them with a designer." Interior designers, they need blank canvases to do their affiliate links, they'll film commercials.
It should be branded like your flip and you'll be able to charge more money. You got to tell the story of what it was before and what it is now. Now this was back when like Fixer Upper was all the rage and it was just the very beginning of the fashion blogger.
I had had an online storefront and I worked with fashion bloggers, some of these OG fashion bloggers, and I would send them my product and they would post about it and then they would get a commission of the sales. Fixer Upper's, on I'm doing this, I'm also birthing a million babies at the time, and I'm thinking like, gosh, real estate and fashion bloggers have the same business model. They both sell someone else's inventory for a small percentage.
No one was quite using Instagram, and so I remember, literally this was my husband and I laying in bed, this is what pillow talk with me sounds like. I'm like, "You know, a real estate agent should be using Instagram, like fashion bloggers do."
I would go on and on about it. He's like, "Okay, well you're licensed. So why don't you do that?" I was like, "Okay, bet. I'm going to." So I literally overnight shut down my online storefront, which it was producing good money for, I mean, you have to remember at the time I had a four year old, seven year old, and a 10 year old. I was in the-
Joanne Bolt: That's a handful.
Amy Gregory: ...Little kids and it was producing good income for me. I just shut it down, I put all my eggs in the basket, and I did it and got pregnant that year, had a baby, brought home six figures. My husband's company was acquired that year and they wanted us to move out of state. It was my real estate business that kept us here.
For the first time in our marriage, we prioritized my career over my husband's career, which was an interesting switch for us. It's gradually continued that way, but that was the first time that it was like, oh, this could really be something. I started kind of as a side hustle, I worked 10 hours a week, I brought home six figures, I had a baby, took the last two months of the year off, and I was like, "Okay, let's go."
Joanne Bolt: Let's do this thing.
Amy Gregory: From there, it has just continued to grow and has literally been the surprise of my life.
Joanne Bolt: That's amazing. You know, what I love about that story, and there's so much to unpack there, but here's the key thing that I'm going to hone in on for just a second because I argue agents this all the time.
When you decided to go into real estate, you went all in.
Amy Gregory: Yes.
Joanne Bolt: Now maybe you considered it a side hustle and you were only working 10 or 15 hours a week, but you weren't trying to do it and another job, you were solely focused on real estate. I know I tell agents all the time, if you're not solely focused on anything, it's never going to happen.
Amy Gregory: No.
Joanne Bolt: You got that right off the gate.
Amy Gregory: Well, and it is a little bit gutsy. I'll unpack it just a little bit further. My side hustle at the time was an online storefront, but we depended on some of that money. I remember telling my husband, "Okay, I'm going to shut this down." Could I have done them concurrently? Yes, but I wouldn't have done either one very well.
Joanne Bolt: That's my point is you can't. If you're not focused on, it's not going to explode or expand like you want it to. Because you're not focused on it.
Amy Gregory: Yes. I gave myself a budget and I said, "Great, I'm going to put $5,000 of overhead towards real estate." Now I mapped this out, and I figured out I think I could make six figures, which I think sometimes we use six figures as this like, oh my gosh, it's so-
Joanne Bolt: Magical thing?
Amy Gregory: Magical thing that it's so hard to attain or something. At the time I, the version of myself from six years ago, that was actually really reasonable. It was probably unreasonable for me to think, oh, I'm going to make six figures in 10 hours a week, but that's kind of what I was working my other business was I was working at about 10 hours a week and I thought, "Oh, I think real estate would, make me more money per hour, so I'm going to take that 10 hours and point it towards real estate."
But I knew it would have kind of an on ramp of like three, four, five months before I started seeing closings. I also kind of set myself a budget before I did that, but it was interesting how... I knew my secret sauce was Instagram. I knew that was my secret weapon.
It took me a minute to, like... I had to try on a few different things on Instagram before I could get it to land consistently again and again. Here's the thing with social media is it's always changing, so I'm still shifting and growing and adjusting to it. But I knew that was my secret weapon doing local transactions.
When I heard about the the opportunity at eXp, I went back and sat down with that same broker and I said, "Hey, I'm doing the math on this. I feel like this pairs really well with my skillset." We broke it down and I will be forever grateful to that broker because he agreed with me and was like, "Yeah, that's a massive opportunity for you. You should do that."
Joanne Bolt: How rare that is for you to have that broker, because their job is to bring agents into a brokerage. They don't make money unless there are agents who are producing in a brokerage. For that broker to say, "Amy, go, this is the right thing for you." I hope, and I'm sure you do realize, what a unicorn opportunity that was.
Amy Gregory: It was a unicorn opportunity to have a broker like that, which is why I valued being at that firm, because I knew he would always do what was in my best interest. He would tell me what was in my best interest. Now they said, "Great, Amy, you can build out our brokerage however you want."
Their local brokerage was their side hustle, right? Because they were fixing, flipping. They work more in that investment arm of real estate, but on the residential resale side, they were going to give me full reign of running that brokerage, which felt like a big opportunity. It felt flattering at the time, but the math on it, didn't have the scalability.
Joanne Bolt: No, it's geographically a bad idea for lack of better words. Geographically undesirable, as my husband would say, there you go.
Amy Gregory: Yes. It didn't have this... And when I'm using social media, my reach is-
Joanne Bolt: The world.
Amy Gregory: Yes! So when I mapped that out, and the other funny thing is they actually have the accounting staff where they're like, "We could build a model like that if you wanted." Because they run big businesses, and I was like, "Yeah but it's already been done. Why are we going to recreate this? I don't want to go through all those growing pains, I just want to go over here and unleash myself and run." He paused on it for a second and he's like, "Yeah, I can appreciate that. You should do that. Go for it."
Joanne Bolt: That's amazing.
Amy Gregory: Then he said "If it doesn't work out, you come back and we'll build whatever you want."
Joanne Bolt: The door's always open. Here you are eXp today with what you call it, Powerhouse is your group of women that are here with you?
Amy Gregory: Powerhouse.
Joanne Bolt: It took me a hot second to realize everyone kind of self names their revenue share. Yours is called the Powerhouse Group, a you guys meet every Thursday?
Amy Gregory: We meet every Tuesday, and then we have an Elites call on Thursdays, because there's different levels of agents or different.
Joanne Bolt: Absolutely.
Amy Gregory: I mean, it would be like having first graders going to school with 10th graders. You don't do that.
Joanne Bolt: You got to separate them out somehow so you can reach them all in the season that they're in.
Amy Gregory: Yeah.
Joanne Bolt: Okay, so we're going to dive into what I consider is your superpower. Why I love it so much is... The reason I actually got into real estate, I was working for a big consulting firm and we traveled all the time. We were called Road Warriors and we were always gone. One day, my managing partner walked in and made this really flippant joke about her four year old's birthday party and that she was going to schedule it in like three months.
You know me, I'm 22 at the time, 23. So I was like, "Well, is that his actual birthday?" Her response was something along, the lines of "No, but he doesn't know his birthday. It doesn't really matter because I travel so much. We just fit it in whenever we can."
That day I called my husband and I was like, "Hey, I'm getting on a plane to come home. I'm not coming back because that's not the life I want to live if we have children. Even if we don't, that's not the life I want to live. Why would I build a business for another corporation trying to hit a ladder that I don't want to be at?" We laughed and he goes, "We have a mortgage. What the hell are you going to do?" I was like, "Well, I'll just go get my real estate license. I'll figure this thing out. I'll figure out my big girl job while I do some real estate." 20 something years, I'm still here.
But I left because the company I was with could not understand how, or help me understand how you can run your business, work your career, and have little babies at home and not burn out and kill yourself to the point where your kids don't even know where their birthdays are.
I feel like your are superpower, my observation of Powerhouse and the women that really come into your world are those women at whatever level of real estate they're at, that look at you and go, "Holy hell. I have two little babies at home. I only want to work 15 hours a week because that's all the time I have with preschoolers. Yet, I want this to be a full-time gig. How do I do that?"
Walk me through some of that, Amy.
Amy Gregory: Well, I love what you're saying, I will never be a [inaudible 00:12:40]. This is one of the unfortunate things inside of real estate. We actually had... We were talking about this yesterday in our powerhouse meeting, because I had a rookie agent, get that... You're going to fall off your seat when I tell you her production year one. She closed just shy of $15 million.
Joanne Bolt: Wow.
Amy Gregory: Her rookie year. Had $18 million under contract like in escrow by that one year mark. Call it whatever metrics you want to use.
Joanne Bolt: We'll in the middle, we'll go 16 and a half.
Amy Gregory: Right? Her rookie year, her husband was deployed six months of the year and she was pregnant the other half of the year. She just had that, her second baby. It was just awe-inspiring to me that she could produce those kinds of numbers because I think looking at real estate, we have this idea or this perception that if I pursue real estate, I'm going to be working 24/7, all day, every day, cannot vacation. Was that your perception of real estate agents?
Joanne Bolt: My perception was, it gave you flexibility, but within 30 minutes of being in real estate, I realized unless you set really good boundaries, there is no flexibility and you are working 28 hours a day.
Amy Gregory: Yeah. Right? That was kind of my perception.
Joanne Bolt: Seven days a week.
Amy Gregory: Yeah. I've kind of learned something... I think this is, I think this is true for every business. I've run a lot of different businesses over the years, but one of the things is with real estate agents, I think you have to say like business is not a badge of honor.
I think real estate agents love to pretend like they are always busy, or shuffling papers, or doing something like they fill this thing of like, "Oh, I've got to demonstrate my worth through always being busy." And I like to say a business that's in chaos or everything is urgent, when everything is urgent, nothing is urgent. Right? We see this-
Joanne Bolt: If it's in chaos, it's not going well.
Amy Gregory: Yeah, a business and chaos is not a business that's succeeding. You've got to be scratching your head. If your real estate agent always got a fire to put out, it's not because they're [inaudible 00:14:51] that they... It means they're running a bad business. If you can't go on vacation, it's because you're not running a business very well.
Joanne Bolt: I tell people, I would rather see you do the right activities for two and a half to three hours a day and then float in the pool the rest of the day. I don't care. Go to Target, go shopping.
Amy Gregory: Well, listen...
Joanne Bolt: I would rather see you do that and do the right activities for three hours a day than do the wrong activities for nine hours a day, barely make dinner on the table, feel like you're pulling your hair out, and have no financial gain at the end of your experience to show for it because you actually didn't make any money because you did the wrong activities.
Amy Gregory: Well, yeah. A well run business... Listen, my attorney's able to go on vacation, they're not working at midnight and they... Now listen, I'm not here to say that I've never done any of those things either. There are sometimes where yeah, if you're a doctor or physician, sometimes you're on call.
Okay, as a real estate agent, there's times that you are on call, so to speak. But also if you're highly specialized and you're good at your job, you should actually be working less hours as opposed to more hours because your hourly rate should increase.
I really like to focus on that hourly rate. What's your hourly rate? Knowing what your measuring stick is for success. Unfortunately, we'll go to these conferences and someone gets up on stage and is presenting, and I'm sometimes looking at them thinking like, "Okay, if I were to actually implement what you're saying, I've just bought myself a 50 hour a week job." I don't want to buy myself a 50 hour a week job, so I'm very intentional with how I'm building my business. Very intentional.
My overhead is low, my hourly rate is high, my ROI is high, and I have seasons of growth and I have seasons of just sustaining and maintaining. In the summertime, I'm wrapping up my season of maintenance. I summer really hard. I summer really hard.
Joanne Bolt: Me too, girl. Me too.
Amy Gregory: That means, in full disclosure, that means that season in my business is not a season of growth. It's just a season of maintenance. I think sometimes as real estate agents, we can find ourselves in a perpetual season of growth, which I would love to see where does that ever naturally occur? Plants have seasons... We have seasons...
Joanne Bolt: So should your business.
Amy Gregory: So should you, and so should your business if you wanted to actually mature and be and have that sustainability to it.
Joanne Bolt: Agreed. Agreed.
Amy Gregory: Yeah.
Joanne Bolt: All right, so what other advice do you have for our women real estate agents that are listening in?
Amy Gregory: Okay. Well, I am obsessed with the shifting market. I'm obsessed. I think it is the best news, any seasoned... Even a rookie agent, but I tend to work more with seasoned the agent so that's my perspective. I think it's the best news for any seasoned agent.
Listen, massive disruption means there is a massive opportunity. One of the things I think about is what happens when we see this shift? I mean, the market that we were in five minutes ago, we all knew was not sustainable. It just was not sustainable.
We need to have a little bit of a shift in the market. Now when you have this disruption, what's going to happen is number one, a lot of agents are going to peace out of the business.
Joanne Bolt: Great, see ya.
Amy Gregory: See you later, right?
Joanne Bolt: I won't cry over it.
Amy Gregory: I will not cry over it. What happens is, I always say anyone can make money in a good market, but the successful will create wealth in a shifting market.
Joanne Bolt: Agreed.
Amy Gregory: This is your time to create wealth. For me, I'm going into major offensive mode. A lot of agents are going to go into defensive mode and try and hang on to everything. Kind of like this, oh my gosh, I'm going to hunker down.
I'm like, okay, release the shackles. Here we go. This is the moment I've been waiting for. I've got three ways that I actually think women have an unfair advantage in this market. This is what I'm focusing on, so take it or leave it.
Joanne Bolt: All right. Give it to us.
Amy Gregory: Okay. Number one, focus on taking market share. Focus on taking market share. With the market shifting, the deals have also shifted. Which means a lot of agents, like we said, are going to exit the profession. This is going to create a little bit of a vacuum for the seasoned agent to come in and take market share.
Really, I would focus on taking market share. Both buyers and sellers. That means your farming neighborhoods. Women tend to build relationships that are referral driven and community based, so they actually have an unfair advantage when it comes to taking market share. Right? Because they've got this loyalty piece if you're using social media-
Joanne Bolt: And they know how to nurture it. Thank you, Jesus, that you gave us that ability.
Amy Gregory: Uh-huh. If you are using social media, then you're able to build relationships at scale. When I think market share, I've got a couple of different businesses I'm running. One, I'm going to take market share on transactions. I'm going to focus in on a couple of different neighborhoods and I'm going to be the savior, right? These sellers are nervous. Oh good, I know how to solve your problem. I'm going to come in and I'm going to solve it, and I'm going to make sure you know about it.
Number two, I am in the agent business. Most agents have to know that in order to scale your business, at some point you have to go from being just in the transaction business to also being in the agent business. Whether you're a broker, you run a team or you build under eXp, somehow you've got to get yourself into the agent business.
Maybe it's an online course or something like that. But again, another opportunity because so many agents are going to be... They've never had to sell in a market other than the one that... With the last 18, 20 months.
Joanne Bolt: They don't have the foundations built. They don't have any firm skillset. When I say this, Amy, and I think you'll agree, I'm talking the basic skill set of, for the love of everything holy, do not take photos with your iPhone.
Amy Gregory: Yeah. Or like they don't call when they send an offer?
Joanne Bolt: Yeah.
Amy Gregory: I'm like pick up the phone!
Joanne Bolt: Or let you know they've received the offer.
Amy Gregory: Yeah. Or they don't even present the offer well in the email.
Joanne Bolt: Because no one taught them those basics and they didn't have to learn them because it was a whole different skillset of foundational stuff we learned in the last 18 months. Now we got to go back and learn for the first time that foundation that you should have gotten on day one.
Amy Gregory: Yeah. If you're in the agent business, again, it's a huge opportunity there because there's going to be a lot of agents looking for those basics. They need, again, you got to go be the savior. If you know how to run a real estate business and you know how to do transactions, whether you have an online course, or you're a broker, or all those other ways I listed, go and help those agents and grow your agent business.
The opportunity is twofold, okay? Here's my next thing. Number two is I would be as liquid as possible so that you can buy as many cash producing assets right now, right?
Again, if you're in real estate, you have an unfair advantage. 91% of home purchases are influenced by women. Did you know that? Literally 91%. You put the word investor in front of it, and it drops to 25%.
Only 25% of investors are female. Yet we hold the licenses, we buy our dream houses, we run the household, but somehow when it comes to investing, there's a disconnect there, which is problematic. I would say if it makes you money, it costs you nothing.
Joanne Bolt: I love that you pointed that out. In fact, episode 48 of this podcast, I literally did an entire thing on, "Hey ladies, why the heck aren't you investing for $27.40 a day. You can save up enough for your first down payment." Because it blows my mind how few of us are investing.
Amy Gregory: It blows my mind, and listen, I am guilty as charged, okay? Guilty as charged. I've been slow to the game, guilty as charged. But it's one of those things where you're like, this is crazy. I hold my real estate license so I get to buy it on sale, so to speak, and always regardless of the market, because I can throw my commission at it.
I have all the relationships-
Joanne Bolt: I literally get paid to buy a home.
Amy Gregory: Yeah. I have all the relationships with the lenders, and they want do my deal and help me, and the creative financing and blah, blah, blah, blah. I have all the relationships with the title companies like... I'm like, okay, I have the ability to do it with Black Friday prices, and I'm like, no, no, no, no, no. Let me go and pay full price, this is ridiculous.
Joanne Bolt: Okay, I love how you just put that because every woman out there understands Black Friday for shopping purposes. If you didn't just mentally tag that in your brain, buying homes for yourself and investing is like buying a home on Black Friday prices. I can't help you anymore than that.
Amy Gregory: I can't help you. Right now, in order to get Black Friday.... This is actually a better analogy than I realized. In order to get Black Friday prices, sometimes you have to be a little bit strategic.
Now mind you, I would Black Friday shop when Target opened at 6:00 AM. Once they start opening at midnight, I was like, I'm out because I enjoy Thanksgiving too much, but I remember like if Target opened at 6:00 AM, tell me you've stood in line at 4:00 AM at Target on-
Joanne Bolt: I did one year with my hot chocolate.
Amy Gregory: [inaudible 00:24:18]
Joanne Bolt: Oh yeah.
Amy Gregory: Right? You're creative in your approach to get your deal, right? To get the item that you wanted, which was probably like some Razor scooter that was originally a $100 and now it's 20 bucks because it was always a $20 commodity.
Anywho, another story for another day. Again, we can get creative in the financing. Just like if you spent the amount of time getting creative in your financing for investing, if you spent that same amount of time as you do on Black Friday shopping, we would be buying investment properties like candy.
If I'm willing to strategize saving 50 bucks on Black Friday to buy something we don't even need, and yet we're not doing it over here? It is the dumbest thing.
Joanne Bolt: Understanding that and walking in to... If you walk in to a listing appointment and going ahead and snagging that property at the listing appointment, it's like standing in the 4:00 AM line for it to open at 6:00 at Target.
The other piece of that, if we go back to the Black Friday analogy because I'm loving this, there are stores I would wait five hours after they opened because I knew that they were going to drag out some more inventory and I wasn't going to have to fight over it.
Same concept, if you know the area you're buying investment properties in and you watch some of them come on market with other agents and you watch what's going on, and then you know when it's time for you to step in. The beginning of the day at Black Friday and the end of the day.
Amy Gregory: Well, we get this idea that we need to time the market perfectly and I would just love to know, has anyone seen... When my clients trying and time the market perfectly, they always end up shooting themselves in the foot.
Joanne Bolt: Because overthink it. I mean, that's like going to the roulette table in Vegas and absolutely knowing it's going to land on eight black. No, it's not.
Amy Gregory: Why are we putting that expectation on ourselves? That's ridiculous. Here's the other thing is what... Framing this out a little bit more. With the huge jump in housing prices and now the increase in interest rate,. The average consumer actually cannot afford housing.
Seriously, if you look at what the average American earns, and then you take okay, this is the average house in the U.S., the price point of the average house, and you break down that monthly payment, I want to say that it would be about 50% of the average Americans take home pay to buy the average American home and pay the mortgage on that.
Listen, I don't think it should be that way. It's a bummer that's the... But that's just the circumstance we're in right now. Which means we will continue to have more renters in our economy.
Joanne Bolt: I mean just in the Atlanta market alone, if you pull up in the MLS, and look at the amount of homes that, and I'm not talking ones that are being rented out by rental companies or manager, I'm talking the ones that agents are putting in the MLS. The amount of homes on the market and being rented right now is about 400 times what it was two years ago.
Amy Gregory: Yeah. Listen, here's one of the other things is too, is we've got Wall Street now playing in the real estate.
Joanne Bolt: Yep. They decided to get in the game.
Amy Gregory: They decided to get in the game. I'm very familiar with that story because the previous broker I was in, they founded Invitation Homes that Blackstone came in and invested with them and they bought more houses in the United States than anyone else. I mean, maybe that's still the story, it was a couple years ago.
Joanne Bolt: Sticking to it. What's your third piece? I know don't, you know, [inaudible 00:27:52] have the attention span of a gnat, girl, so let's go.
Amy Gregory: Okay, this is actually the most important one. Invest heavily in yourself. Double down on the investments you make in yourself. I think women underestimate the power that they are in their business, but the biggest asset you have and the biggest asset I have is myself. It's you.
You can tell me all of your cash producing assets, or the deals that you've done, and the numbers associated with them, but who created that? Who had the idea and who pursued the idea? It was you. You pursued it, you created it, you came up with it. You're the biggest asset.
I think women especially should double down on the investments that they're making into themselves. When a woman invests in herself in the form of more knowledge, more relationships, or what have you, it usually doesn't just impact her business. A lot of women end up becoming mothers, and a fully developed mother doesn't just build an incredible business, but she also is the biggest link to the next generation and she'll pass her knowledge and her know how on to our kids.
I think we are only one solid generation into highly educated females building big in business and in the workforce. 2020 really accelerated that lifestyle-business overlap. I'm actually kind of on pins and needles to see what our sons and daughters do as they're able to draw on our experience, our expertise, and frankly, our ability to access money.
You now have unmatched ability to access money, way more so than our mothers did. It's so much bigger than just business. Investing in yourself to build a business, that's really cool. But generationally, that is where we get this generational wealth, and mothers are really new to this game, historically speaking. I think it's going to have phenomenal impacts on our sons and our daughters
Joanne Bolt: I would agree. I can even see... Even in my own life, my mom was a stay-at-home mom. In order to do that, she did not work. The concept stay-at-home mom meant you did not work. My dad brought in everything that we lived on.
Now I'm one generation away from that, I'm showing my kids that I am a stay-at-home mom. I do not go into an office, I do not report to anyone else. Yet at the same time, I'm teaching them the balance of stay-at-home and provide income and have wealth building opportunities. It's like we're starting to merge that. I can't wait to see what my girl does.
Amy Gregory: Right? I am so excited about it because this opportunity did not exist for our mother. The ability to be home. I'm working on vacation right now, right? Not just a little side hustle-
Joanne Bolt: Full blown, two comma income-producing business.
Amy Gregory: Yes! Yes. Multi six figures, scalability... It'll scale to seven figures next year, working part-time hours from my laptop...
Joanne Bolt: You can do it
Amy Gregory: And doing it with a baby on my hip. My youngest is four years old. I have built this business with a baby on my hip.
Joanne Bolt: Every single year.
Amy Gregory: Yeah. Suddenly it's like, oh, well, do you want 50 grand to go to college or you want 50 grand to start a business? My kids would probably say, "Start a business."
Joanne Bolt: You know, that's funny. My husband and I were talking the other night, and I'll archive this for when my kids go to college and we can circle back to it. I would wager that my son goes to college. It's the way his brain works, and he will work a corporate job or start his own business only after he goes to college.
I will wager that my girl does not. I will wager that by the time she gets there, we have all acknowledged that for some careers, college is going to be necessary and for some, not necessary. She will be the one that takes that path and exceeds all of our expectations.
Amy Gregory: Yes, I agree.
Joanne Bolt: Whereas have I told my dad, "I don't think I'm going to college," he would've shit a brick and forced me into it anyway. Which, I went to college and had a great time, but it is changing so much.
Amy Gregory: It's changing so much. I think college is valuable. I graduated with a degree... I actually graduated with a degree in elementary-ed and wouldn't you know, I spend a lot of time teaching. Just not... It's just in a more lucrative capacity than teaching.
But it's one of those things where it's shifting quite a bit, and I think it'll be interesting to see what our kids do with the access they have to mothers that have built empires.
Joanne Bolt: Yeah.
Amy Gregory: My mom built an empire as well, but it was different than mine, right? Hers was, she put my dad through law school. They opened up their own law firm and she was a real solid backbone in that business, but she was not forward facing, she was home running the household and my dad was gone a lot.
Joanne Bolt: Yep. That's how we were. Well, my dad didn't travel, but yeah.
Amy Gregory: Yeah, but I mean they worked a lot of hours because that's just the way it was. And she did. She raised the family and I was scared to bits of my mom. She was my best friend, but I also knew I stepped out of line and-
Joanne Bolt: Watch out. It's funny now to see her with my kids. I'm like, Grandma Hayes is not the mom that I grew up with. What happened? I don't know, something happens when you hit 70 and okay.
Amy Gregory: Well, I can't wait to be a grandma because then I don't have to be a hard A, you know? With my kids, I have to draw these like firm-
Joanne Bolt: I'm like, "No, you have to eat fruits and veggies at your meal." My mom's like, "Oh, let's go to McDonald's for every meal." I'm like, who is this woman? I have no idea. I digress.
All right. Let's circle back around, and we're going to finish this episode up on one of my favorite topics of all, and you touched on it in item number three, investing in yourself.
It is so flipping critical that you invest in yourself. Let me point out, most agents automatically think CE classes, learn how to read an inspection
Amy Gregory: I just threw in my mouth a little bit.
Joanne Bolt: I know. Investing in yourself is not sitting through one more lender telling you a boring story on how they have the best 30 year rate package available. Spoiler alert, they all have the same one. So-
Amy Gregory: Stop going to those things like take that off your calendar.
Joanne Bolt: Oh my God! Instead, and this is why we align so much, because we're both pouring into women and ironically, we both have events in September that I think you could actually go to both of them and get a lot out of.
I know I'm doing one called the Work, Play, Slay event, you guys have heard me talk about it for weeks now. September 11th and 12th in Nashville, and we are going to spend an entire day with some of the bad asses, the best I could find, really diving into some of those fundamental things you need to understand like working by referral or setting up your social media sphere of influence.
I'm not going to teach you how to create a post, but how to use it to your advantage. We've got one of our speakers coming in that's actually going to teach you how to start investing in real estate properties. We're going to touch on that topic too, and then literally two weeks later, you've got one called the Rise Collection or Conference?
Amy Gregory: Rise Retreat, yeah.
Joanne Bolt: Rise Retreat, and you're going to pour into your agents in a different way that probably if you went to both of them, you would walk away at the end of September, more prepared for 2023 than you've ever been in your life. Tell us a little bit about what you are going to dive into on yours.
Amy Gregory: Yes, I would love to. It's called Rise Retreat and it's in Newport Beach. One of the things that we really focus on is getting in the room and creating relationships with other women that are building similar to you.
There's a lot of ways that you can build a successful business in real estate, so we put a variety up on the stage. We've got a confidence coach coming in, Gogo Bethke's coming in, who is like the queen of social media.
Susie Holman will be there teaching kind of how to find alignment in your business, which is actually really important to women because women tend to build just off their instincts and their gut and they think it doesn't show up well on a spreadsheet, right?
A referral based business doesn't always show up well on a spreadsheet. A lot of times what we see on stage is buy X amount of leads, make X amount of phone calls. You'll set up so-
Joanne Bolt: I will never teach you that. I know you don't either.
Amy Gregory: Yeah. It shows up great on a spreadsheet, and it worked well for my husband, but that's not how women typically build. What happens is we see women consistently closing $5 million, $5 million, $5 million year over year, over year. That's a problem.
You're constantly repeating first grade, first grade, first grade, first grade. You've got to get to second grade, fourth, fifth, 10th, 12th grade. Your business should be growing. Your six figure business is scalable. We're going to teach you how to buy investment properties, very similar stuff, right? The thing is, is it's like a girl's trip that's also a tax write off.
Joanne Bolt: I know. That's how we're looking at it too. We're going to get together the night before for cocktails and some... I've got someone coming in to do hand massages and neck massages. Take your three inch heels off, we're getting comfy and we're going to meet and greet each other and really get to know each other. We're limited to a hundred women.
Amy Gregory: Same, that's what we did too.
Joanne Bolt: Right? Okay, did you go in it to it with this theory? Because I did. I love the big conferences. I'm going to end men. I love Tom Ferry's stuff, but sometimes I feel like, oh my God, whoever's on stage teaching, I want to know more. But I'm in the back of the room with 10,000 people.
So I was like, nope. I'm going to create events that if you're sitting in the back of the room, you're in the back of the room of 75 to 100 and you can raise your hand and we acknowledge you and we talk to you.
Amy Gregory: Yeah. We do a panel discussion as well with our speakers.This is the other thing too, is do you ever need to go to Vegas again for a conference? I never want to walk through a smokey casino to get to my conference ever again [inaudible 00:38:11]
Joanne Bolt: I'm going next week to Inman in Vegas, and I will tell you it's only because it's Inman and only because I got invited to a cocktail event, otherwise no. I probably won't attend half the sessions. I will probably go in and just go to the cocktail event.
Amy Gregory: Yeah. I get it because they need to house so many people, so from a business standpoint, I get it. The other thing that I always think is funny about conferences is the speakers will have their intro videos, and if it's a dude, 1000%, there's like a slow-mo video of him getting out of some outrageously expensive sports [inaudible 00:38:44] boujee, I don't even recognize what it's and I'm like, yo, I would be getting out of a white Suburban with a baby on my hip and some football gear in my arm and my phone like this, like "Yeah we're clear to close! Yep, yeah, we're good." I'm like, I can slow-mo that.
Joanne Bolt: I'm walking through Target on my Bluetooth, talking to the lender, making sure that we have clear to close as I'm pulling shampoos and crap off the Target aisles. I'm not pulling up next to you in a Lambo going, "I'm so great."
Amy Gregory: Yeah. Frankly, that's great and whatever, but that's not what I want. That's not the lifestyle I'm after. I think sometimes, especially for women in real estate, we start using someone else's measuring stick in our business and that works against us.
My measuring stick is time freedom, financial freedom, location freedom. It needs to support those things. I am not after like, okay maybe one day I'll drive a G Wagon, but it's not right now because I've got a four year old spilling apple juice in the back of my car.
You know what I mean? I always say if you have to tell people, you're cool, you're probably not cool. I'm not going after that.
Joanne Bolt: It'll be interesting to watch this potentially evolve over the next two years or less. Because, quite frankly, as a society we've moved into a more authentic, transparent... We want to know the real stuff. We want to see you without your makeup on. We want to know who we're really working with.
I think that some of these guys that get up on these stages and have those slow-mo videos, what they're doing is turning everyone in the audience like you and I into immediate like, I just put a podcast on, in my ears and I'm just going to sit here and save my seat while this guy talks. I'm not listening to him. He's not authentic to me any longer.
Amy Gregory: Yeah.
Joanne Bolt: I'm interested to see if they shift that method over the next couple of years because it's not what we want to see.
Amy Gregory: I also just don't think that's what a lot of people are after anymore.
Joanne Bolt: No.
Amy Gregory: I don't...
Joanne Bolt: I think the stuff like you and I are doing in September, honestly, I think the smaller retreats, the smaller masterminds that meet in person and then go into six months of zoom meetings... I think that the more intimate, more personable stuff, while they may be less profitable for some of the people that are used to putting on stuff for 10,000... Of course they spend a million dollars to put them on.
But I think that those are going to be cropping up more and more. That's where, if you are listening to this podcast today, A, you need to check out our two stuff, but you need to find all of those that you can. Then find the one that you want to go back to and back to and back to because get out of the big rooms, get into the little ones, create your tribes.
Amy Gregory: Yeah. I mean the majority's always wrong, so whatever the majority is doing, you should do the opposite.
Joanne Bolt: Yes, I agree.
Amy Gregory: That's my rule of thumb. Also, usually if you want to know where like which direction the market is going, just follow the women.
Joanne Bolt: Yeah.
Amy Gregory: They'll tip you off.
Joanne Bolt: Not the loudest woman in the room. Not the one who is the squeaky will, that feels like she has to keep yelling about stuff to be important. But the one that's sitting off to the corner just kind of nodding her head and then gets up and does her own thing. That's the one you follow.
Amy Gregory: Yeah.
Joanne Bolt: Because they're charting the path.
Amy Gregory: Yes, yeah. For a lot of these women, if it feels like you're swimming in unchartered waters, I think a lot of women in our season, in our stage struggle with loneliness. It's lonely running a big business.
None of my friends carry... Some of them do, but for the most part, carry the weight of the businesses that we're running. It's not like I'm getting invited to the golf tournament to chit-chat about business. There's not a lot of circles for us to talk in.
You got to start making-
Joanne Bolt: When you're going to these events, and making these connections, and not just handing a business card out, but making the personal connections. Now you've got women who are building businesses like you are, that live three time zones away, that y'all can hop on a zoom like we're doing right now and have a conversation, and you're not lonely anymore because we're accessible. You're accessible to your people.
Amy Gregory: Yes. 100%. I think that's a huge, non-tangible. It doesn't show up on a stats sheet. Which a lot of things don't.
Joanne Bolt: If you let that drop to the wayside, your tangible, your spreadsheet's going to look worse because emotionally we need that connection. It's how we are made.
Amy Gregory: You'll build to burnout.
Joanne Bolt: Yeah. Agreed. All right, so let's wrap this up. Is there any last parting, anything you want to give to our audience?
Amy Gregory: My last parting thing is take your business serious. Don't be casual about it. That if you are in year one, two, three, and you're doing $5 million in production, it is a scalable business. You are worth investing in.
If your male counterpart had a business that was doing that, you would double down and you would invest in it. You're the biggest asset in that business. So invest in yourself, and your business will grow. Your business will grow in direct relation to your own personal development.
Joanne Bolt: Yep.
Amy Gregory: It just will, hands down. That is the [inaudible 00:44:00] where I see consistently, that is always the pattern. The women that invest in themselves and their own personal development, their business will always follow suit because they're growing, right? You have to keep growing in proportion to your business or your business will be stagnant. If you're repeating $5 million in production every year, that's a problem.
Joanne Bolt: Yeah. Unless that's really just what you want to do and still, that's a problem. There you go. Parting words.
All right, everybody. This was amazing as always. We will have in the show notes, links up Amy, and how you can reach her and how you can get more information about her programs, and her group, and her tribe, and all the goodness. You know that. We will see you next Tuesday or Thursday. You know where to find us.