Reside Platform Podcast

Surviving Market Cycles and Leadership Lessons from a 25 Year Veteran

Amplafy Media

In this episode, Suneet speaks with Alecia Scott. With 25 years in the real estate industry, Alecia shares her journey from stay-at-home mom to successful team leader, navigating market cycles, and creating a team culture that fosters long-term loyalty.

Chapters:

- 00:00:00 - Introduction and welcome
- 00:01:27 - Alecia's entry into real estate through late-night infomercials
- 00:03:45 - Evolution from solo agent to team leader
- 00:09:41 - Balancing family life with building a real estate business
- 00:14:59 - Philosophy on building and maintaining a strong team
- 00:19:30 - Celebrating 25 years in real estate
- 00:19:51 - Lessons learned through market cycles
- 00:24:53 - Personal development journey through real estate
- 00:32:02 - The impact of Tony Robbins on Alecia's career
- 00:34:28 - Advice for aspiring team leaders and agents
- 00:36:24 - Contact information for The Scott Team

Links and Resources:

- The Scott Team - https://www.thescottteam.com
- Contact Alecia Scott - (301) 252-2177
- Long Foster Real Estate - https://www.longandfoster.com
- Tony Robbins Programs - https://www.tonyrobbins.com
- Reside Platform - https://www.resideplatform.com

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Welcome to Reside Platform Podcast! Join us as we discuss all things real estate and business related. As four entrepreneurs who own real estate companies in tech, investors, real estate, and management,  and eight-figure coaching companies, we offer unique insights and expertise on the latest trends and news in the industry. From marketing strategies to client acquisition, we share our experiences and tips on how to succeed in the competitive world of real estate. We also explore current events and trends that impact us all, providing valuable insights and actionable advice for listeners. Join us for engaging conversations and practical advice on how to thrive in the fast-paced world of real estate and business.

Alecia:

I made the mistake of hiring agents like myself, and we just doubled the trouble. So it evolved from there. There weren't teams back then, per se, so my early, I would say my early half was being a mompreneur, right?

Suneet:

Hello everybody. Welcome back to another episode of the Reside. Platform podcast. Today I am here with Alicia Scott from the Scott team, longtime reside team leader. Super excited to talk to you today. Alicia, how's it going?

Alecia:

It's going really great, and I likewise, very excited to have a conversation with you and I'm just. Honor that you called and asked me to be here.

Suneet:

Yeah. Well, I wanna just get this opportunity to share some of your story. I know probably inspire some people and some people can learn a lot of stuff from you too, and your success. So let's get into it. So before we dive into all the real estate exciting stuff, I'd love to hear more about kind of you and just, you know, how'd you get started in real estate and what was that journey like for you?

Alecia:

Well. I am fond of telling people, and it, it really is true. I got into real estate. I watched probably too many late night Carlton sheets infomercials way back and thought I was gonna get in and be an investor, and I was coming off a six year stint of being a estate alum and of course wanted to get into flipping properties. And so basically immediately. And people from my, what we call the sphere of influence, started approaching and wanted to do transactions. So I never really got into it. I was just like, oh, wow. This is kind of cool. So I just started helping people that I knew. Yeah. And that over time, I had also taken a new position as a crossing guard simultaneously. Okay. And then, yeah, didn't start as a big game plan, but evolved over the years. To what it is today.

Suneet:

That's so cool because you went from a stay at home mom for six years and we hear that a lot from many agents, right? I mean, I believe aren't majority of agents women still?

Alecia:

Yeah.

Suneet:

Yeah. So that's so great. You know, and you see, you know, a stay at home mom coming in. You also got a job as the crossing guard, was it for the kids school?

Alecia:

Well, not my kids' school, but you know, my husband was also self-employed at that time. Okay. And I did it actually to do the benefits actually, that was supposed to be my main gig. Yeah. And then I would, I just always had a love of real estate, you know, so I had been, studying for the test and, reading about it, and I'm starting to pursue it just as an interest.

Suneet:

Sure.

Alecia:

Never imagining that it involved. I got to be the crossing guard so I could get the benefits, because that's, yeah,

Suneet:

that's important, right? Yes.

Alecia:

And I did both, and then it went from there.

Suneet:

That's awesome. So running a team is an entire different ball game than being a solo agent. How has your approach to leadership evolved over the years and kind of What's working now that maybe didn't work before?

Alecia:

So many things, you know, in those early days, as a solo agent didn't even think about, you know, having a team as it related. Yeah. I think how it evolved into a team is very, very well, not very, very quickly back in those days about, I remember getting to a point. After about eight years in the business, and by then had three busy children. Literally, I think I was that person that would like go to a real estate and I would just be like crying through the halls, like trying to find answers. And so it was, hire an assistant, hire your first assistant. And I, I really couldn't find, the time even to do that. Right. And I wasn't administrative by nature, so That really was the catalyst. my first mistake was that I hired agents instead of, yeah. So now I look back and I say, Hey, my first assistant was really my full-time housekeeper that I hired. She was my first assistant. She's still with me to this day, so Oh, awesome. I was really the best assistant, you know, as, as has to

Suneet:

help you take care of stuff at the house so you could be doing stuff at work.

Alecia:

I will say that's, definitely a number one secret. She was, and she's still, we call her the nanny that never left and she still lives with me to this day. All the kids are gone, but she still take of me and my husband, you know, now that he's in the business and then evolving from, so I, I made the mistake of hiring agents like myself, and we just doubled the trouble. So it evolved from there. There weren't teams back then, per se, so my early, I would say my early half was being a mompreneur, right?

Suneet:

Yeah.

Alecia:

Transitioning to like, well, that's not the answer either, right? As fast. Do something different and going from there. So, and to where it's today, where, you know, having, onboarding the administrative staff, that was a challenging piece for me too. And then getting the help that I needed with that piece.

Suneet:

Yes.

Alecia:

And really them, working on our backend to where it is today, where we're able to actually do the scale.

Suneet:

Yeah, that's awesome. It reminds me of myself too, right? Like I didn't hire an assistant first. I started hiring agents. Mm-hmm. It wasn't until about a year of having a team before I hired a full-time admin part of the team that wasn't like a, that wasn't virtual that was there. Right. So that was a big deal for me too, and I don't remember that stuff. He was a little bit of a transaction coordinator and a little bit of an admin, and he worked really hard, I think. Yeah, he had some personal issues, which, you know, it was that high was out of desperation. He had some personal issues that were pretty

Alecia:

significant. Yeah,

Suneet:

pretty significant. So, but you know, since then, you know, I hired other good office managers and other admin and now for me, when I look at it, like for my team and my other traditional real estate businesses is I have, as my good admin have become managers of the departments. Right? Right. So like my ops manager for my team is really just a really fancy admin. He's kind of the utility person. And then I have my sales manager who's also like the real estate specific admin who's there for the questions. Right. I, I think some of the best people in administrative though, are definitely Brittany Earnhardt at Reside. She is incredible, and Lauren is also super good at it. Lauren Holland and also Brooke, and those three have really shown me like what optimal administrative support is for a real estate business. Right.

Alecia:

And I have certainly seen that. I mean, Lauren, from the beginning of when I joined Reside, because you're joining to solve a problem. Yes. And that is to take that next step through. And I, I remember this woman is gonna think I'm crazy or something, but I had a little challenge initially and she, just handled it beautifully and that's what we rely on. She's just been an incredible mentor and support for my Claudia, who's our operations manager, It's been actually very beautiful to watch them, you know, support her and for her to now grow and along with the vision that I had and she knowing, you know, the problem that I was trying to move forward with in my own growth and development as

Suneet:

totally. Yeah, they've, they've seen it and they've experienced it and Right, like administrative support is that leverage that we all need. Right? You have the leverage at the house, right? I have somebody mow my yard. I haven't mowed a lawn in 20 years, right? Like, we have somebody help the kids go to school and pick'em up, right? And so, as people wanna do more stuff, you just need more leverage. And leverage is people and technology and you know, I love technology, right? So anyhow, I'm always fascinated by how people in our industry handle being kind of like what you said, mom mompreneur and how you approach, I don't want to use the word balance'cause I think it's bullshit, but how did you approach building the business? With little kids back then.

Alecia:

Yeah. I mean, number one, we talked about it. I got that support and I always, even when I interview agents today, now I really have to credit, you know, strong family support. Right. Because, I've been fortunate to have a husband who has been really, really supportive of what I've done. Always. Yeah. Right from day one when I came into it and just, we sort of aligned our family around it. So when my,'cause there, there were very struggling days and to your point there's not balance, right?

Suneet:

Yeah. There's no balance.

Alecia:

Yeah. I mean, just you get better at, I think. For us, ladies, we get better at creating stronger boundaries for ourselves around certain things. But in those first 10 years or so, you know, he was out there, as I'm sure I've seen, you know, you post family pictures, you have a strong supportive spouse who, if you have kids, they're able to be with them. You know, at the time our kids were, you know, junior high school age, and I had one, my son is the youngest and my girls played a a u basketball Oh.

Suneet:

And

Alecia:

wrapped up 10 and a half months a year. So I did have that like safety and security knowing that, and my husband went in as a coach for a AU ball.

Suneet:

Oh, great.

Alecia:

Yeah. So I, I remember having that conversation with my husband, you know. I can do one or the other. I can be a mom and I can support your business and I can have food on the table and all that stuff, you know, certain hours and run the kids. But I can't run this career like that. So we got the help and then he was supportive and he was with those kids doing the, coaching. And that allowed me the flexibility to pop in and out of our games and so forth. Taking that off. So we did that in the early years and, you know, we were big on having our kids kind of step up to the plate also. And it's always interesting to me now these kids don't get their driver's licenses until later in the game. The day they were able to get their driver's licenses, they did so that they could participate in their own activities

Suneet:

Yeah.

Alecia:

And so forth. So strong support and my parents. Say to them. I mean, their parents were always my biggest supporters. Biggest fans.

Suneet:

Yeah. Right.

Alecia:

Yep. And, and, getting that support from family, I don't know. I think it gives you the confidence to go out there.

Suneet:

Absolutely.

Alecia:

So.

Suneet:

Like my mom and me, like my mom is always like traveling the world doing humanitarian missions, like big stuff. She's gone probably seven months out of the year and like she is right now, she's gone some, she's always in some shit hole doing some humanitarian work, right? Like. Some dirt road place. So I guess, yeah, inspiring and supportive. Right. Which I think helps me push through all the stuff that I'm trying to do. So what's your philosophy on building and maintaining I. Maintaining is important too. Maintenance is important too. A strong team, how do you create an environment where people actually wanna stick around and grow with you?

Alecia:

No, that's a great question. I think it's something I feel that we've done really, really well.'cause I've got, several of my core agents been with me 10 plus years.

Suneet:

Wow. 10 plus years. Yeah. Well, yeah.

Alecia:

So, you know, real estate is a world where we spend a huge majority of your time. Right. And I think just, we have a nice container here where, people can be themselves. But also I think when I look back on it. When I took on one of our earliest retreats, we co-created our team values. Oh, you

Suneet:

guys did it collaboratively. Awesome.

Alecia:

We're like, we're family friendly. We're growth oriented. We like fun, family fitness, those things. So we were all aligned around certain things and I, if it's not fun, I'm not doing it right. So we have a lot of fun. They love to. To get together and eat, and they come for the food every day. Where do you guys go eat at,

Suneet:

at the house or do you guys go to restaurants all over?

Alecia:

We've done a lot of team meetings at our home over the years to use our, what's the tax rule? You could tell

Suneet:

the, Augusta tax.

Alecia:

Augusta the rule, right? Yes. August rule.

Suneet:

Yes.

Alecia:

In the beginning you start where you are with what you have and then you, go from there, right? So

Suneet:

yeah,

Alecia:

we started doing Friendsgiving long before it became a thing.

Suneet:

Oh, with the team at the house. That's super cool.

Alecia:

Yeah, so we do Friendsgiving and the last couple years I'm like, you guys are tired of Friendsgiving, right? Because like, I have my house. They're like, no. I'm like, do you guys like wanna do it at a restaurant or something?

Suneet:

Yeah.

Alecia:

I love that.

Suneet:

So That's so funny, you know? Yeah, yeah. When I built this house, I said, oh, I'm gonna have the team over like every quarter. I'm gonna have, well, not the whole team, but the, top producers, the top five and their spouses over every quarter. I did it once and I was all, this is too much. Like, nevermind, we'll just go to a restaurant. Right. We'll just go anywhere else. I'm not messing up my house like we are not doing that.

Alecia:

So we do a quarterly team event, and now it's to the point where, had one of the, you know, going into the summer, it's like they'll start asking me in, in spring, like, when's that on the calendar? They love that. And of course. We're together. I think the main thing is that they do feel supported, right? They know that there's several places for them to go and to get that support. We have a, you know, a team called Daily and or we just talk about whatever it is they need to talk about and for that day, and then they get the input from not just me, you know, other senior agents as well. Yeah. And this is a very nice collaborative environment. I think making it, I think safe for them. I always get them up every day. We're not showing up here showing perfectly ready every day.'cause we never

Suneet:

Yeah. Perfect. Doesn't exist. Yeah.

Alecia:

So just, I have been very fortunate that everybody's willing to take responsibility for how they show up

Suneet:

Yeah. With

Alecia:

energy on an any given day. And then I always tell them when you least feel like doing it. That's when you know you need to, right. Because the rest of the group will seem to kind of pull them through some kind of way. So

Suneet:

love that. How long have you been in the real estate industry? For

Alecia:

25 years. As of this year? Yeah. Yeah. I started when I was 35 and I just turned 60.

Suneet:

There you go. So you've seen some stuff in this business, some cycles,

Alecia:

many cycles, yes.

Suneet:

Yes. What have you learned through the cycles?

Alecia:

What have I learned through the cycles? Listen to people when they say that they've seen this before or if they haven't seen it before. Right. Super good. Because I think back years ago, you know, many of us, you probably were still a kid when the 2008 bust.

Suneet:

No, I got cracked and lost millions of dollars. Yeah.

Alecia:

Yeah. So yeah, when you go through something like that, it changes you really, it

Suneet:

does.

Alecia:

It, it Sears you. And we went through that too. You know, severe, severe loss. Right?

Suneet:

Yeah.

Alecia:

I remember going back to that moment, it's like, oh my God. You know, I don't know. Can't remember. 2008, how old was I then? Probably in my mid to late forties. Oh my God. We just lost everything we've worked for for the last 20, 25 years. Yeah. And I was like in a fetal position on the couch.

Suneet:

Right.

Alecia:

And I just remember my husband being so strong and he was just like, whatever thing I was complaining about it with, he was like, we don't need two of us doing that. Right.

Suneet:

Yeah.

Alecia:

Kept going and so. Really tapping into the strength at that time. And it'll cause you to make some serious decisions, right? Yeah.

Suneet:

I mean, so in 2008 I ran a mortgage company and I remember leaving the mortgage company and I 2007, I just bought some way overpriced, super expensive house. It was like me and some girlfriend at the time living in like 5,000 square feet, right? Just spent all my money on. I was my early thirties, or I spent all my money on fancy restaurants and Vegas and nightclubs. Right. So when that happened, like, yeah, I had a bunch of stuff, but I didn't have a bunch of cash. So I actually, I said F this. I'm never doing real estate again. I let my license expire and then got out of the business completely for, it was five, six years. Yeah. Until I had challenges in my other business, which is. An episode for another time and I sat around for a year just like doing random consulting for other businesses and one of my best friends, and my mom called me. They said, you should really become a realtor again. I was all, screw that. I'm never doing real estate ever again.

Alecia:

Yeah,

Suneet:

that was a 2014. Yeah.

Alecia:

Yeah. Well, it was an interesting time because I looked around and, you know, some of my biggest mentors actually at that time, like left the business right to go get jobs and I think, you know, I reached out for help, you know, got coaching,, at that moment when you. Probably least think that you can do that. You've got to find a way. And so, getting back in, motion and then, those are those times when you look back and you think that those were the greatest gift, right?

Suneet:

Those hard times to be able to get through it, to build that grit and the resiliency. Absolutely

Alecia:

correct. And I had people in my life at that time that, you know, would not allow me, actually one was a client. It was interesting enough, you have these angels that come into your life and sit down, when you're going to them with, how do I get myself out of this? Right? They're like, you can do this. Right. They offer you no sympathy. It's that you can do this and you just gotta put one foot in front of the other and, and, and do it. And so inch by inch,

Suneet:

you know, inch by inch. Yes. Like little compound effect. Right. I remember that was the first book I read when I got back in Darren Hardy. Compound Effect. Just do those little things every day. So the real estate business, we kind of talked about this just now, but we'll talk about it some more. The real estate business. Is super fascinating'cause it definitely pushes us professionally, but it also leads to like a personal development journey. Right. How has this industry changed you, like in your personal development and how you like, choose to represent yourself?

Alecia:

It absolutely, I mean, there's just no option.

Suneet:

True. You're so right.

Alecia:

That's what I'm saying. You have no option. I am fond of telling everyone, it's like, well, what real estate really is, is a personal growth and development program with the pay plan attached to it.

Suneet:

Oh, that's so good.

Alecia:

So, and you will only get paid in direct proportion to the value that you bring to the marketplace. Right.

Suneet:

Oh, quoting Jim Rone, quoting Jim Rone on this,

Alecia:

Alicia. That's right. That's that where that came from. I thought I got that one from someone else, but that is a Jim

Suneet:

Row. Jim R,

Alecia:

and yeah.

Suneet:

Yeah. Early seventies. Jim Rohn. Yes.

Alecia:

Putting those two things together. Right. You've got to develop your skills and ability. I just had this conversation with the prospective new agent this morning. Right. Who, you know how, when they. Think the lead is the problem or the, the lead quality is the problem, or the source of the lead is the problem. When you kind of drill down to it, it's like. Isolate, you know, and then go back conversation by conversation and build a little bit more resilience, a little bit more skillset around that. And it just has to do with being willing to have those fierce conversations.

Suneet:

Yeah.

Alecia:

I think, you know, if you are. Nature a people pleaser. And I love learning from Jordan Peterson. I think I zoned in this, like women were like, I think natural, like a,

Suneet:

oh, is that what Jordan Peterson said?

Alecia:

Something like that. It's like, yeah, we're more wired towards that. And so I'm like, ah, you know, like we want everything to be okay and in conversation, people to feel bad or hurt, you know? Well, I don't know if we as a collective, but if you have a high sensitive personality like I have had over the years. It's almost like building muscles in the gym.

Suneet:

Totally.

Alecia:

Building that type of resilience, right. To get to the point where you can have those hard conversations with clients that are uncomfortable. And then I just remember, you know, sometimes you would get those calls early on from clients who are screaming about something Yeah. Or nothing. And you're just thinking, I, I did my job. You get defensive or, or, or whatever, because you think it, you know.

Suneet:

Yeah.

Alecia:

It's like, you know, we're learning to have that better conversation where you can stay out of your own emotion and reactivity to that conversation and then,

Suneet:

which takes a lot of work, doesn't it?

Alecia:

Yeah. And that's really where the growth is. Right? And that, that. Happens over time. Right. And it has to be practiced and built. And you have to go through what you have to go through to get there, right?

Suneet:

Yes.

Alecia:

And either you do or you don't, and, if you're not willing, right. What does John tell us? He says, you will grow in direct proportion to the truth that you can handle about yourself. Is that Yeah.

Suneet:

Yep.

Alecia:

So stop being so defensive all the time. When you get that trigger feeling, something triggers you. Yeah, understanding they did this or they said this and it has nothing to do with me.

Suneet:

Yes. Control the controllables, your actions and reactions. Right, right. And also I want to correct myself are, if there's any fact Checkers listening to this episode and want to tell me that Jim Rowan did not say that. Jim Rowan did. Brian. Tracy did too around the same time. So I don't know who said it first.

Alecia:

Okay.

Suneet:

And

Alecia:

Tracy, another real estate coach in the industry.

Suneet:

Yeah.

Alecia:

So.

Suneet:

Yes, I like lay in bed and listen to like Brian Tracy and Jim Rowan while I sleep.

Alecia:

Yeah. The personal growth and development playing with the paid plan attached to it, really, that's what it all boils down to.

Suneet:

I mean, so I was a loan officer many years ago, my first three months as a loan officer, and I wasn't doing well. I was maybe 26 or 27 and my father. I lived in about two and a half hours away, and I went to go visit him, and he always had all the personal development books, all the CD sets, all that. He was an engineer and somewhat of an entrepreneur. He's passed away many years ago, but I'm all, he's like, Hey, how's the sales business? I was all, oh, I'm not doing really well. I haven't really sold anything. He's all, I want you to check out this CD set. And it was a Tony Robbins set. It was like personal edge or some, I don't know what it was called. It wasn't awake, it wasn't Unleashed the Giant, it was one of his other ones, and I had about a two and a half hour drive home. So I plopped it in and I listened to it. You know, maybe three CDs on the drive home. No joke. Alicia, the next month I got. A bunch of commissions. And the thing was, there wasn't any like sales stuff in there. It wasn't how to be a better salesperson. It was all personal development. I remember at the same time thinking it was hokey, but still having enough belief in it to really dial down. And that kind of led me on my personal, the development journey. And I mean, now I'm a full-time coach and consultant, right? Like that's my place where I live. So yes, it definitely has impact. I'm so glad that you brought that up.

Alecia:

Belief is key. And, I tell people that, you know, during that time, and people joke me to death to this day about Tony Robbins meet you death, but I always say Tony Robbins saved my life.

Suneet:

Yeah.

Alecia:

Because when I talked about that vertical, you know, moment when I was so down, I remember all I could do was the next best thing. Put on my headphones, turn on Tony Robbins, get out the door.

Suneet:

Yeah. That's awesome.

Alecia:

Yeah. I love

Suneet:

that. Yeah.

Alecia:

And then it went from there. And my dream was to take my entire family to a Tony Bins event, but that was one of my first, well, a significant leadership lesson, right, because you can't want something for other people.

Suneet:

Yeah.

Alecia:

Want for themselves. So it was like a dream, like, because it had been so meaningful to me, and it was so life changing for me. His work at that time, and I remember. I finally got to the point where I'm like, okay, I could afford to bring my whole family to this event and it was just gonna be so great, you know? And we were all gonna walk on the call, so sign the whole family up we go. I had, but my one amazing daughter who just, she will not be out of her own integrity, which I applaud her for. She said, mom, I absolutely will not go. I will not spend your money like that. Total disbelief.

Suneet:

Sure.

Alecia:

She was the one who didn't go and we went. And the first day they give you an opt out, right? And three of them walked out, three of the attendees walked out and got their money back and decided they were gonna go hang out in New York City. So my husband and my son stayed with me through the rest of it. And then. My son walked on the coals and I walked on the coals, so there you go.

Suneet:

That's awesome. So final question. What advice do you have for people of listening, other team leaders, other realtors, other aspirational team leaders? What advice do you have for them?

Alecia:

I think the biggest thing that I advise people as their considering coming into real estate or wherever they're on their journey, I think if I could say in hindsight, in 25 years, there's so many things that you have to do in real estate. The biggest thing that becomes important is who you're doing it with. Good. Really who you're doing it with. because I can look back and I can point to my significant. Mentors, you know? And where are you in that? Because it's, I think what's most people out is this incredibly lonely business.

Suneet:

Yeah.

Alecia:

When you start, and I remember feeling when I came in, where are the rules? Where are the guidelines? You know, there's lots of laws, but the laws of success are a little harder to identify.

Suneet:

Yes. So

Alecia:

it's kind of like the right person with the right mindset. In comes or the person that's, open to the growth and development. Mm-hmm. Think that that will come along. Right. Not everybody starts off necessarily as a superstar.

Suneet:

Yeah. But

Alecia:

people can grow into that. So who are you surrounding yourself with, whether that be a brokerage or a team, or your home team? You know, it starts with the home team, right.

Suneet:

Yeah,

Alecia:

I really wanna know about that when someone's coming in, who do you have by way of support? What does that look like for that person? Right. That's awesome.

Suneet:

That's so good. So if anybody wants to send you a referral or maybe work with you on your team there in Rockville, how should they reach out to

Alecia:

They can contact me directly by text or phone(301) 252-2177 or find the scott team do com online and send us a. Email inquiry. I'm open on social media with, my profiles and stuff. You can direct message us and we cover Maryland, DC, Virginia and I actually recently got licensed in Delaware. Delaware. Oh,

Suneet:

expanding cool stuff. We'll have to get you back on to talk about the expansion.

Alecia:

Yeah. This has been super fun. Sun.

Suneet:

Good. Well everybody, make sure you follow Alicia and send her all the referrals she can handle in all those areas that she just said. I really hope that you guys watching and listening got something out of this episode. If you did, please like, subscribe and share with a friend and will see you on the next episode of the Reside Platform podcast. Thanks, Alicia. Thanks everybody.