The Real Estate Sessions Rewind - Episode 247 - Lindsay Dreyer, Owner/Broker - City Chic Real Estate (Now Reverie Residential))

Building a Unique Brokerage: A Conversation with Lindsay Dreyer
Lindsay Dreier, the founder and broker of City Chic Real Estate in Washington, D.C., presents a compelling vision for the future of real estate, emphasizing the importance of equitable incentives for agents. In our discussion, she articulates a critical perspective on how disparate commission structures can inadvertently lead agents to favor some clients over others, thereby compromising the overall client experience. Lindsay proposes a unified commission model that fosters genuine partnership between agents and their brokerage, ultimately benefiting both parties and enhancing client satisfaction. Through her innovative approach, she not only redefines the agent-broker relationship but also demonstrates her commitment to serving a broad range of clients, from first-time buyers to seasoned investors. Join us as we delve into Lindsay's entrepreneurial journey, her insights on branding and technology, and her strategies for nurturing a culture of success within her boutique brokerage.
The discourse presented in this episode encapsulates the remarkable journey of Lindsay Dreier, a prodigious talent in the real estate sector. As the founder and broker of City Chic Real Estate based in Washington, D.C., Lindsay offers an extensive narrative detailing her professional evolution and the innovative strategies she has implemented to thrive in a competitive market. Her narrative commences with her formative experiences in New Hampshire, where her early inclinations towards technology and design set the stage for her future endeavors. Lindsay's foray into the real estate industry is marked by her adeptness in leveraging digital platforms, which significantly contributed to her early success in sales, even during economically challenging periods. Lindsay's collaboration with Thousand Watt, a renowned branding agency, plays a pivotal role in her brokerage's rebranding efforts. She meticulously recounts the arduous yet rewarding process of redefining the identity of City Chic Real Estate, ensuring that it resonates with a diverse clientele that has evolved alongside the market. Central to the discussion is Lindsay's philosophy regarding equitable treatment of clients, emphasizing that agents should not be incentivized to prioritize certain clients over others based on commission structures. This ethos underpins her operational model, which seeks to foster an inclusive environment for both agents and clients, thereby enhancing the overall client experience. The conversation further explores the intricacies of running a boutique brokerage, including the significance of a robust support system for agents, especially in terms of marketing and client management. Lindsay articulates her commitment to nurturing a culture that emphasizes work-life balance, allowing agents the flexibility to thrive without the constraints of traditional office environments. Her insights, coupled with practical advice for aspiring agents, culminate in a compelling narrative that not only highlights her individual success but also serves as a guiding framework for others in the real estate domain.
Takeaways:
- Lindsay Dreier emphasizes the necessity for a brokerage model that treats all clients equally, thereby ensuring agents are not inadvertently incentivized to prioritize certain leads over others.
- The rebranding process undertaken by City Chic was facilitated by Thousand Watt, highlighting the importance of aligning brand values with the evolving demographics of their clientele.
- Dreier's innovative approach to real estate includes embracing renters, viewing them as potential future homeowners and nurturing long-term relationships with clients throughout their property ownership journey.
- The efficiency of City Chic's operational model is exemplified by its minimal staff, allowing them to manage a significant volume of transactions while maintaining high service standards.
- Dreier advocates for the integration of technology in real estate, utilizing tools that streamline processes and enhance user experience for both agents and clients.
- The podcast underscores the importance of mentorship and training for new agents, suggesting that joining a supportive brokerage can significantly impact their success in a competitive market.
00:00 - Untitled
00:07 - Incentives and Client Engagement
02:36 - The Journey of Rebranding City Chic Real Estate
12:42 - Transition to Real Estate
15:56 - The Journey to City Chic Real Estate
26:01 - Understanding Brokerage Operations and Team Dynamics
33:02 - Transitioning to Virtual Work Culture
And I was on a 90% split on my own business and I was doing 7 million on my own. But of course I'd like to do more. So I would get brokerage referred leads that were at a 50%.And so that 40% disparity, whether you like it or not, as an agent, it does incentivize you to work harder for a certain segment and a certain client. So I just thought that was wrong. And in order to provide an excellent experience for your clients, you can't have those incentives in place.
Bill RisserYou're listening to the Real Estate Sessions. I'm your host, Bill Risser. Listen in as I interview leaders in our industry, getting their stories and their journeys to the world of real estate.Hi, everybody. Welcome to episode 247 of the Real Estate Sessions podcast. As always, thank you so much for tuning in. Thank you so much for telling. Telling a friend.Today I'm going to talk to someone who has done some amazing things at a very young age. I'm talking about Lindsey Dreier.Lindsay is the founder, broker, owner of City Chic Real estate in Washington, D.C. and she has a very interesting story. I heard her on the Thousand Watt Forum where she was interviewed by Mark Davison because she recently used Thousand Watt to rebrand her company.This is really impressive, what she's done.And some of the things, the way she thinks about her business, I think are going to be pretty interesting for those of you out there if you are thinking about starting a brokerage or if you already own one. So let's get this thing started. Lindsay, welcome to the podcast.
Lindsay DreyerThanks, Phil. I'm happy to be here.
Bill RisserSo, look, I find people lots of different ways. A lot of times it's a referral or someone will say, hey, you got to talk to this person. It's just great.But I saw you with the Mark Davison, and look, Thousand Watt, I, I am such a fanboy of what Thousand Watt does. And I saw you were going to do the Thousand Watt Forum interview with Mark. I'm like, I'm in. I got to see what. Then I got to hear your story.And I was even more impressed. And so we're going to talk a lot about City Chic and what you've done there. But first of all, you, you hired Thousand Watt to help you. Right.Kind of reimagine, we'll put it that way.
Lindsay DreyerYeah.
Bill RisserWhat City Chic is. And so let's talk about what's that process like?
Lindsay DreyerSure, I would love to talk about it. So Thousand Watt, obviously, as everyone Knows they're one of the best. Like they're the cream of the crop in the real estate industry.So when we were thinking about doing a rebrand, it was kind brainer to get to work with them.So I gave them a call, chatted with Brian, basically walked him through what we were looking to accomplish and really what it, what our goal was is that we had our existing branding for almost 10 years.And over that course of 10 years, we went from servicing people in their 20s to our clientele had really grown up to be older millennials, younger Gen Xers.And we had this new generation of home buyers coming in Gen Z's and we wanted to make sure that our rebrand was still relevant and speaking to our demo, all of our demographics that we were serving. It really started with their discovery. And their discovery process was incredibly in depth.It was a virtual zoom where they dug in, really probing, a little uncomfortable. I mean, it felt like a business therapy session.But overall I really enjoyed it because I felt like they were really getting to the heart of what City Chic is all about. So I knew it was a little painful, but also, but like good painful. And ultimately it got us the result we wanted.So it started with that and then we did some back and forth on our brand values, our brand messaging, and it ultimately culminated in this really cool, fun new version. It's like a makeover of our company and it was, it was fun. It. I really loved the process.I just as a, I have a background in design, so and marketing. So as someone who has some expertise in the industry, it was just, it was an incredibly fun process. I really liked it.
Bill RisserI would think that you having that background for them, their first thought is, oh no, she's got a marketing design background. This isn't going to be easy.
Lindsay DreyerI definitely was opinionated, I will be honest about that. But ultimately I think that that's a good thing because it makes it easier for them to extract what I'm thinking.And also you have that vernacular and you're able to describe concepts and understand the process a little bit more.So ultimately I think maybe it was a little bit of a pain for them, but I think in the end it was, it probably made things move along a little bit smoother.
Bill RisserYeah, I have no idea what vernacular you're talking about. So we'll just move on from that.
Lindsay DreyerSure. We will totally put a pin in vernacular.
Bill RisserI couldn't be farther from marketing or design. I mean, so let's. First, I love to get the story of my guests. You're my first guest from New Hampshire. So congratulations. 246th episode.I got my first person from New Hampshire. And look, when I think of New Hampshire, I think of really cold winters. I think of.It's like this is the place where people in the northeast go to ski and there's tons of trees. So help me fill in the blanks. And is there a myth about your home state that you have the opportunity now if you'd like to debunk? Sure.
Lindsay DreyerOkay, so it's a little interesting.I grew up in New Hampshire, then went to the D.C. area for college, lived there for 15 years, and then moved back to New Hampshire two and a half years ago. So I had a little hiatus.I think that probably the feeling that most people have about New Hampshire is that it is very rural and filled with country bumpkins. And it's. I live in a town of 6,000 people and it's the town I grew up in.But what's really interesting is we have a very rich culture and history because it is really old. So for example, the town I grew up in had the first tax free public supported library, which is really cool.And then we also had one of the oldest artist colonies called the McDowell Colony. And that was where Thornton Wilder wrote the play Our Town.And so our town is actually scripted after Peterborough, New Hampshire, which is where I live.
Bill RisserWow, that's great.
Lindsay DreyerSo there's culture, it's not just a bunch of country bumpkins.
Bill RisserSo I grew up in San Diego where there's like zero history. You live in a place where there's a ton of history.
Lindsay DreyerThere's a lot of history. Yeah.
Bill RisserSuper cool. Yeah. You mentioned on the thousand watt forum that I like how you said it. I think you said like a true digital native.I'll call you like an OG early adopter, right. Of tech. Because I mean, you were right at that age where it was a part of your life. From the moment you were old enough, you really took to it.You kind of talked about it. Talk about high school for you. Little coding, little building websites, having some fun.
Lindsay DreyerWe'll go back to my basement when I was 14 years old, feeling real anx in my bedroom with my computer. This was when I got GeoCities was like on the scene making websites. And I just thought it was really fun and cool.And so I taught myself how to code HTML and how to use Adobe Photoshop myself. So I started coding my own websites. My handle was DJ Snow Nicks.
Bill RisserWow. I might have to get into your. The music you were Listening to seriously,
Lindsay Dreyerreally just I was a very interesting child or teenager, I should say. But that was my foray basically into the tech world.And then what's really neat is my high school has a vocational technical education program that I was able to participate in. It had a two year graphic design certification which I took and graduated from it. They also had internships.So there was actually a search engine optimization company. So it was one of the first ones in the country that worked out of the Applied Technology Center.So I was able to get an internship with them as a webmaster when I was 16. And I was making just dirty money for a 16 year old $20 an hour. And that was in the 90s. So that was incredible.I basically got like boots on the ground experience with a SEO company at 16. I'm 37 now, so that was interesting. And that was before Google came about. That was like altavista and Lycos and all of the old school search engines.But that was an incredible experience. And so those are definitely skills that I take into the future with me and they're very, they play very large in my success today.
Bill RisserYeah, we'll talk about that because I think you, we're going to bring up some SEO stuff in the world of real estate in a little bit. But let's talk about. You end up going to Maryland, right? You become a terpene.
Lindsay DreyerYeah.
Bill RisserGo chirp. Yeah. What was your field of study there? What were you thinking about coming out of? And I got asked this question.Everyone that goes to Maryland, do you like the football helmet?
Lindsay DreyerNo, because it's so ugly.
Bill RisserYou're a graphic designer. Do you like that?
Lindsay DreyerIt's too aggressive. I'm not, I don't enjoy it.So I went to University of Maryland, College park, and basically I was looking for a university that had a top rated program in business as well as in computer science. And Maryland was actually top 10 in both of those at the time when I was looking, it was also really affordable.Out of state tuition was only $17,000. And frankly I wanted to get away from New Hampshire. When you grow up here, you have to escape or else you just turn weird.So it was good to get out and then come back because I'm very appreciative and I also gained some really great real world experience. I went to Maryland. I ended up really hating computer science.
Bill RisserSo I took the time to figure it out. That's good.
Lindsay DreyerYeah, really hated it. And my dad actually gave me some good advice. He said, Lindsay, you're a salesperson. So Just get your degree in marketing and go find a sales job.So I basically dropped computer science and went straight into a marketing degree. I ended up graduating in three years. Mostly because I am just. I'm good at school, but I'm not a school person. I don't. I really am a worker.I mean as you can probably like making $20 an hour as a 16 year old really like shade school in a different light. So I was really lucky. And when I was graduating there was two job offers.I had a pharmaceutical sales position with Eli Lilly or a new home sales construction job with Pulte Homes. And that was the. A fork in my road where I really feel like I chose the right thing. I chose Pulte.
Bill RisserWow. Where were they located? Were they in the D.C. area or.
Lindsay DreyerYep. Yeah, they were both in the D.C. area.
Bill RisserOkay, so this gets you into Washington and you're working. Talk about that transition. Because I understand with new home sales are pretty straightforward.
Lindsay DreyerRight.
Bill RisserYou're probably going to be a subdivision. You have people coming into models.You have to be able to convince them that you're the right choice over some resale properties they're looking at and all that good stuff. But you do make the transition to the resale world. What was that like?
Lindsay DreyerIt was really interesting. Pulte. I started with Pulte in 2004 and the market was insane.And they had a program where they were taking recent college grads and just boot camping them into machines of selling new homes. So the training that I received was incredible. It was top notch. We basically learned everything. Construction sales, mortgage finance, they were.It was incredible training. So I'm really grateful for that foundation.The market crashed in 2007 and I was sitting in a model home out in Warrenton, Virginia and I was actually living in downtown D.C. so my commute was an hour and 15 minutes each way and I didn't see a living soul for an entire month at my model home. And that's when I knew something was wrong.So I was driving to my model home one day and like the voice of my dead grandma like was like why aren't you just a real estate agent? And I was like, yeah, why am I not just a real estate agent?So you actually didn't need your real estate license to sell new construction in Virginia. So I studied for my license, got my license and then made the transition in October of 2007.That transition actually went pretty smoothly, which is interesting. DC had, didn't really crash too badly and it really brought affordability back to the Market.So first time home buyers were now feeling good because there were some incentives for them. Prices had come down a little bit. And so I basically said, why not? Why am I not working with all these first time home buyers?Like this would work really well. So there I used my sphere, which was obviously my past clients at Pulte and then also the Internet. So I was posting Craigslist ads.I had a blog called dcpropertyvirgins.com and then I also was doing Google pay per click. And I did 6 million in sales my first year, which like completely shocked my broker in this horrific market.And that's kind of when I realized, okay, I think I'm onto something, I think I can make this work.
Bill RisserYou had to have people when you were telling them, oh, I'm using this thing, I'm using Google and I'm doing these ads and all this stuff, you had to get the people that just kind of went, oh whatever, that's not going to last. Or that's not going to last.
Lindsay DreyerTotally. My first broker said to me, there's no way you can get clients on the Internet.
Bill RisserIs that broker still in business?
Lindsay DreyerShe is, and she's super kind. I really think fondly of her. But like it's just, it's kind of hilarious. Like how do you get, how are you getting clients on the Internet?
Bill RisserYeah, and it's, I mean look, it's changed. Today's a lot different than 2007, 2008. Right. Things have come a long ways.
Lindsay DreyerDefinitely.
Bill RisserYeah. Somewhere in here and you decide, I don't want to work for a brokerage anymore.I want to do my own thing, you know, and I want to take this skill I've built up, especially working with the first time home buyers, which is huge. Especially the, there's so much transition in and out of D.C. right?
Lindsay DreyerTotally. It's very transient.
Bill RisserYeah. So let's talk about that. That's a huge decision to say I'm going to open my own company. Especially in your 20s.
Lindsay DreyerOh, looking back, it's very interesting. So when I first started or made the transition, I worked for a really large regional brokerage and it just wasn't the right fit for me.I went to a medium sized boutique and while I loved the, the agents I worked with, it was about 35 to 40 agents and they were all really servicing the same clients that I was. So it was very cohesive and really good environment in terms of the agent dynamic. I just didn't.Again, like the brokerage and like the broker support just didn't feel like it fit. And then I started working for a startup. I was actually the first agent that they hired and that also just didn't fit.So it was sad because I felt like I just. Thousand Watt actually came up with the verbiage that I was Goldilocks, trying to find the right fit.And I really feel like that, like, I felt like, why can't I just find a brokerage that, like, understands what I'm doing and wants to support me? So that's really why I started City Chic was because I didn't think I was an anomaly.And I felt like there would be other agents that would appreciate the support that I would have appreciated.
Bill RisserYou know, there's. It's interesting you. You put it in those terms. That's exactly, believe it or not, what Glenn Sanford did when he founded exp.
Lindsay DreyerOh, that's cool.
Bill RisserYeah, he wanted. He knew he liked what KW is doing, but he didn't like the model completely. It wasn't. He didn't like the profit sharing.He wanted to create what he wanted, which is revenue sharing. So it's very interesting. That's what you did on a little bit smaller scale. Very much smaller. No, that's cool.So the name, City Chic, let's start there. Very cool, Very hip. I love it. Yeah. So where'd that come from?
Lindsay DreyerIt really just came out of a process of me brainstorming. So I was writing down. I had a piece of paper and just was writing down all the iterations of real estate.So, like realty homes, like anything you could think of. And then the other column was like the descriptor. And I wanted something that really described what we did and who we were.And obviously we're in the city, which I felt like at that point made us very unique. And also that we were cool. Like, we understood the.The city lifestyle, we understood what the cool restaurants were like, just enjoying the life of the city. And so ultimately that like, popped in my head in the shower and it was like, city Chic. That's it.And so because I was going back and forth on, like, iterations of the word cool and hip and. But chic just fit.
Bill RisserYeah, I love that. I think it's great. And I want to talk about your website. I love. I love looking at real estate websites.Now, that doesn't mean I love what I see most of the time, but I love. But a lot of times I'm surprised. And your website rocks. It is fantastic.
Lindsay DreyerThank you.
Bill RisserAnybody listening? Citychicrealestate.com Go check it out. I don't know what it looked like before you worked with Thousand Watt.I'm sure it was still super cool, but it's just fantastic.So, first of all, I couldn't believe this when I heard you say this, that you still run the site personally, you created the site, you still do any edits and changes. I mean, that coder in you is never going away.
Lindsay DreyerIt's not going away. And also it has just created a complete control freak in me.Really what it comes down to is I've been doing it for 23 years and it's just something that I'm very particular about. And it actually is quicker for me to just make the edits than to go through a designer and have them misunderstand what I'm saying.And so it really comes down to an efficiency and time thing for me that it's easier for me to put what's in my head out there than to communicate what's in my head to somebody else. To have them put it out there, there.
Bill RisserYeah, that's such an advantage. I'm going to put you on the spot a little bit. Tell me, tell me, tell me the biggest problems you see with the typical agent website.
Lindsay DreyerOkay, where to start? So the biggest one I think is that they all look the same.So in a sea of every real estate agent and broker, there's so many websites out there that how are you going to look different and how are you going to speak to the consumer to stand out? And so I think that's the first thing. The second is that a lot of them are very confusing. It's really unclear what you want the consumer to do.So do you want them to search for homes? Do you want them to contact you? Do you want them to look for a real estate agent?I still go to real estate brokerage websites and I don't even know what market they're in. It just says like, we love homes or find your dream home. And I'm like, where am I? Am I in the ether?So for me it really comes down to user experience. And what do you want people to do? And you have to make it brutally, brutally apparent. Like it just has to be like in your face.So for us on ours, we want people to book a call with us. That's all. Those are your really your only options. We just want you to book a call.And since we implemented that, we have seen a uptick in leads, which is great. So we have more buyer appointments booked, we have more rental appointments booked, we have More listing, appointments booked.Because once you get on the phone with one of our agents, I'm really confident that there's a really high conversion rate.
Bill RisserYeah, you mentioned rental. I love this part of what you do, right. You embrace tenants, you embrace renters.Because I'm going to guess you do a really good job of converting people that you rent properties to into owners down the road.
Lindsay DreyerExactly.
Bill RisserTalk about that flow.
Lindsay DreyerSure. So rentals are just not popular in D.C. agents don't want them, they're not interested. And we kind of fell into the business by accident.We just kept getting calls because we were ranked really highly in Google early on. Do you do rentals? Do you do rentals? Do you do rentals? And we would say no. And what I realized was, why aren't we doing rentals?Because it can be a really excellent way to build a database and get people in your pipeline. So Pulte Homes actually had a. Their slogan was homeowner for life. And so for us it's like we would love to be your realtor for life.So we'll start as a renter, we'll move to a first time buyer, then we'll move to a move up buyer who also sells their first house. And so we want to be there for their entire life cycle because it's great. It does result in future sales down the road.And then it's also just another potential referral source for our agents.
Bill RisserYeah. And do you, do you, do you have like a team that kind of handles the rental side as opposed to. Or does any agent kind of jump in on that?
Lindsay DreyerAgents can opt into whichever team they're interested in. So we have a renter team, a buyer team, a listing sales listing team, and a rental listing team.So each agent can opt into whichever team they'd like and then they're put on that rotation for the book. A call.
Bill RisserThere was something you said that I was just so impressed with this comment. And I've been in the business 20 years, all on the title side.I've never sold real estate, but I've talked to, I mean, I guess I can say thousands of realtors. Right. In my career. And the question came up from Mark, talking about splits and leads and how you, how the, how this whole process works.And I know you can't talk specifically, but in general you had this phrase and I use this, I've used this a few times already. I hope you don't mind.
Lindsay DreyerOh, please.
Bill RisserYeah. You said this. Agents shouldn't be incentivized to treat customers differently. And I don't think many people think of that part of it.When a brokerage is offering leads at a different percentage than something that they generate on their own. Can you talk about that?I just think that's such a cool way of looking at what you do and really what you do for your, for your agents and why they probably love working with you.
Lindsay DreyerSo it really, the belief and realization really started at the last brokerage that I worked at and I was on a 90% split on my own business and I was doing 7 million on my own. But of course I'd like to do more.So I would get brokerage referred leads that were at a 50% and so that 40% disparity, whether you like it or not as an agent, it does incentivize you to work harder for a certain segment and a certain client. So I just thought that was wrong.And in order to provide an excellent experience for your clients, you can't have those incentives in place because whether it's conscious or unconscious, you're going to be motivated to potentially work harder for one set of clients instead of the other set. So when I started the brokerage, I didn't want the brokerage business that I was sending out to be treated any differently.So I basically kind of created like a blended split where I assumed people would be doing 50% their own 50% leads, like on average, and then just included that referral fee into the split. And so it's one split no matter where the business comes from.And the other advantage to that is that I don't have to track was it my lead or the agent's lead. It just removes that whole conversation and really makes it that I'm a partner to the agents.I actually want to help them increase their referral business because I don't care where the client comes from. I just want more clients for them.So it really aligns, I think, the agent and brokerage with the community consumer, but it also aligns the broker with the agent.
Bill RisserYeah, I love, I love the fact that you're really thinking hard about the consumer and that's, that's sometimes missing.
Lindsay DreyerI think it definitely is. And like, I think you can be agent centric and still be client focused. And so that's really like, I think you can be both.And so for me is important because we do have almost 300 Google reviews that are really great and they're all real. But that's important to me.I want the client to love us because that's what results in more business and more referrals and just a really great culture and company. It just feeds on itself.
Bill RisserYour brokerage is definitely the definition of boutique. And I would imagine that the interview process to get to work with you at City Chic is pretty significant.And, and I'm sure you're very particular about who you bring on board and you've probably said no to more people than work there now. I would just guess yes. Let's talk because It's a very 13 agents, I think somewhere in that.
Lindsay Dreyer13. Yep.
Bill RisserYeah. So let's talk about that. How do you decide if somebody's a fit or not?
Lindsay DreyerSo I think the first part is having a set of criteria and it also is different depending on if they're new to the business or experienced. I think I'll start with new to the business because most of our agents did start new to new to the business and we trained them.So first there's an interview obviously, and it really just comes down to do we want to spend more time with them and do we feel like they're going to be motivated and fit our systems? So we do business a very specific way and we support our agents in a very specific way.So one of my questions that I actually ask all agents is where do you see yourself in five years? Are you running a large team or making six figures and having a really like balanced, awesome life?And if they are wanting to be just like that crazy hustler entrepreneur team lead, that's not us, that's not our brokerage. And so I think it starts by just getting clear on like what their future looks like. And that's experience and new.But then with our new agents, we have a 30 day challenge, which is basically a scavenger hunt that they have to create complete and it shows them what it's like to be a real estate agent. So it makes them incredibly busy, but also gives them a sense of what being an agent is like.So that involves reading a book, involves previewing 80 properties, shadowing appointments, writing for practice contracts, doing 10 neighborhood profile worksheets. And what that does is it's almost like an extended interview process where if they don't pass the 30 day challenge, they don't work for us.So that really helps me kind of filter people out quickly on if they're going to be a good fit or not and if they have what it takes to be successful in the business. For experienced agents, it comes down to probably that one question of like, are you spinning your wheels on marketing and admin?Like, what do you what's taking up your time right now and also figuring out if they have a really strong referral.If their database is really large and they're not getting a lot of referrals, it means that they're probably not doing a good job nurturing that database, which is one of our strengths as a brokerage. So it really comes down to do we fit what that agent would need to grow their business and we're really upfront about it.I have a presentation that shows exactly what we do and the kind of agent we're looking for. And if you fit that, I think it's worth having a conversation. But if you don't, that's fine.I'm happy to refer you to somewhere else that I think might be a good fit.
Bill RisserYeah. Do you mind sharing what your admin setup looks like and your tech stack? Like what's the CRM or how do you do in all that?
Lindsay DreyerSure. So the admin side, we have basically one admin who works virtually, so there's only two people who work at City Chic and we're just crazy efficient.
Bill RisserWow, that's awesome.
Lindsay DreyerI know, it's nuts. We did 300 transactions last year and we only have. And also my administration is part time. She doesn't even work full time.So that's the setup in terms of like our back office. For our tech stack, it is like a ton of different pieces.Our CRM we use Follow up boss and the reason that I really like it is it's extremely flexible so you can really mold it to whatever use case you need at present day. But it also has been able to grow with us and be flexible enough to accommodate things that we want to do.So we started doing direct mail postcards on behalf of the agents about a year and a half ago and that made it incredibly easy to just download their mailing list and then get those postcards out. Same with our email newsletter that we send on behalf of the agents. Super easy.They have a mass mail function that lets us mass mail it directly from the agent so it looks like it's coming from the agent. And that's like a one click process which is incredibly easy and the agents love it. So it saves us tons of time.And then it's a value add to our agent. And then calendly is a huge one that we've been using. That's our real time appointment scheduling.And they let you set up teams so you can put whoever you want on those teams. And then those calendars are available to book appointments. So that's been a really big one where instead of saying, hey, when do you want to talk?It's here's my link, let's talk. And so we found that the appointment conversion rate has been much higher because it's appointments on the client's terms.Like, I don't want to play tag with people. Like, that's a waste of time. And also it's not efficient and people don't. It's uncomfortable. It's like a commitment for some reason.But clicking it is fine. Like, it's just, okay, that's good. We also use lucid press for our collateral.And so that has been really great for our brand templates and everything that collateral wise is for the agents. What else? Oh, Real Scout has been a big one. We've been using that for a very long time. That's our property collaboration tool.So it's much prettier and user friendly than the mls. And it allows people to request showings, it allows them to rate properties.It also lets them choose features that they enjoy and they use AI to basically scan the pictures to look for those features.So if you like a kitchen island and you put that in as your preference, Real Scout will go out and scan the pictures to look for things that have kitchen islands. So it's just a really fun, cool tool.The agents really love it, which that's really what's important to me is is it useful to the brokerage, but also do the agents use it and love it? So it's kind of like a twofold thing. So Real Scouts is the tool that the agents really love using.
Bill RisserI interviewed Andrew Flackner. It's a very interesting episode. You should check it out. Some of the things he.
Lindsay DreyerI love him. Yes.
Bill RisserSome of the things he did in college are pretty funny and cool. I'll just say that the whole work life balance thing, you know, here you are, you run this brokerage.There's not a whole lot of admin running around yet. You're not even in D.C. anymore. You went back home to raise your family, which I think is fantastic. How do you do that?
Lindsay DreyerSo when I started City Chic, it really was around the. The. I wanted to have a life and I want my agents to have a life. So there is never any requirement to be in an office. We have an office.The agents are allowed to use it whenever they would like. It's cleaned on a regular basis and stocked on a regular basis. So it's ready for everybody.But it's really been used in the past for client Meetings, our team meetings, and then if an agent just wants to get away. So we never have had this really in person office Y culture. It's always been pretty virtual.So we use Slack for our team messaging and we have different channels. So we have team help. If you need some help with a showing or an open house needs to be held, we have the broker channel.So if you have questions for me, you just post them on there.We also have like a lead channel, so if there's any leads that are coming in that aren't automatically routed, we can get those out really quickly and efficiently. So that's been a big part is a lot of our culture has always been virtual.And there was never an expectation that I was going to be in the office because for most of the time running City Chic, I had to sell. So it wasn't that big of a transition. And I was traveling down to D.C. before COVID once a month to meet with the team and do our team meeting.But since COVID we've been doing it virtual and really the agents said that they prefer it. So I think we're going to flip to virtual team meetings and then do a quarterly get together just for fun.That's the great thing about being small, is we can kind of flex with the times and I can ask the agents what they want and I can deliver it, which is great.
Bill RisserThat's awesome. I think that's great. I think never really heard someone be able to pull that off the way you've done that, so fantastic.
Lindsay DreyerThanks. I mean, what's really, what I'm really proud of is that I moved in 2017, and in 2017, 2018, we did 56 million in production.The following year, 2019, we did 85 million. So I was able to grow from 56 to 85 million doing basically full virtual.
Bill RisserWow.So that whole myth about when you go on vacation, you get more business, you're proving it out by saying, hey, no, just leave the state or leave the District.
Lindsay DreyerThat's the thing. I don't go on vacation. Where I am right now is actually my office that I rent in New Hampshire.So I go to my office every single day while my kids are in daycare. And I get my work done. So I'm not on vacation. I love working and I love my company.And so for me, this actually probably does make me more productive. My husband jokes that I'm the only person he knows that can go to an office by herself and just work the whole time.But I'm doing what I Love and I'm really passionate about it. So it's very easy.
Bill RisserWow. Well, Lindsay, I've had you over the half hour. I need to get your answer to the final question. Same question I've asked every guest last five years.And that's what one piece of advice would you give a new agent? Just getting started.
Lindsay DreyerYou can't do it by yourself, so get a mentor or go to a brokerage that gives you really excellent training. I think compared to when I entered the business in 2007 to now, it is infinitely harder.And I think that the cost to getting into the business is a lot higher because of Zillow leads and the cost of just tech and everything.So find my advice to most people is join a brokerage that's like a team or join a team, because that team is going to be invested in your success and we'll be able to give you leads or a system.So it's really tapping into someone's previous success and it doesn't mean you have to be there forever, but you need to have some kind of ramp up quickly because you can really stall out if you don't get that that jump start right away.
Bill RisserIf somebody wants to reach out and chat with you, how do they do that?
Lindsay DreyerSo you can find me on Instagram at Lindsay L I N D S S A Y City Chic. Or you can shoot me an email. Lindsay chicrealestate.com and I would love to chat. I it building connections is part of the fun part of this job.
Bill RisserThat's awesome, Lindsay. This was a blast. Thank you so much.
Lindsay DreyerThanks, Phil. I had such a good time.
Bill RisserWhat's the weather like right now in New Hampshire? Just curious.
Lindsay DreyerHot and humid. We're having a really weird D.C. summer in New Hampshire. I don't know why.
Bill RisserYeah, it's hot and humid here in Florida as well, so. But it's always like that. Once again, thank you so much and continued success. It's so fun.I'll be watching what you do and seeing the changes as you keep growing this little nugget you've got sitting in dc. Congratulations.
Lindsay DreyerThanks, Bill. I appreciate it.
Bill RisserThank you for listening to the Real Estate Sessions podcast. To leave a review or rating, go to ratethispodcast.com you can also subscribe to the podcast at your favorite podcast listening app.Finally, you can go to therealestatesessions.com and subscribe to our email newsletter and be notified whenever a new episode is released.






