Women Leaders Of Real Estate: “There is an underlying assumption that women don’t own property” With Avery Carl

An Interview With Jason Hartman

I think that female agents, while we make up the vast majority of the industry, are not taken seriously. It’s assumed that we are all bored housewives who started selling real estate in order to “feel like we are contributing.” I work solely with investors, and I cannot count how many times I have mentioned that I own 25 of my own rental properties, and a male client will say “Oh, so you don’t own them right? You just manage them for other people?” And I have to explain to them that no, I do not manage 25 for other investors, I bought and own 25 of my own properties. There is just an underlying assumption that women don’t own property. There are very very few women real estate investors and even less who specialize in this sales niche in the industry.

As a part of my series about strong women leaders of the Real Estate industry, I had the pleasure of interviewing Avery Carl.

Avery Carl is a top 1% agent, short term/vacation rental expert, and CEO of The Short Term Shop, a team that specializes in short term rental and vacation rental investment real estate. She has connected investors with over $150 million in cash flowing short term rental and vacation rental investments in the past 2 years. Avery, a Mississippi native, received her B.S. in Corporate Communication from the University of Texas at Austin, where she played goalkeeper on the Big 12 Championship winning women’s soccer team. After college, she spent several years touring the world as the lead guitar player in a punk rock band. She then segued from performance into the business side of music, and moved Los Angeles where she held positions at both Capitol and Atlantic Records. During a brief residence in New York City, she met her husband Luke; who is a Rock n Roll Disc Jockey on SiriusXM radio and an internationally published author. In 2013 they moved to Tennessee where Avery received her MBA from Belmont University.

Thank you so much for doing this with us Avery! Can you tell us the “backstory” about what brought you to the Real Estate industry?

I was previously working in the music industry as a marketing manager. I bought a few rental houses as more of a retirement plan than anything. I got super into real estate investing, and got my license and built my business from there.

Can you share with our readers the most interesting or amusing story that occured to you in your career so far? Can you share the lesson or take away you took out of that story?

I have so many that I don’t even know where to start. I have had all sorts of things happen from a client completely disappearing in the middle of a transaction, to a handyman allowing a friend to live in a client’s property while it’s being renovated without the client’s knowledge, to finding out a seller did not actually own the property they were under contract to sell. The biggest lesson I have learned is to be adaptable and roll with the punches. No two deals are ever the same, and you have to be flexible to effectively problem-solve.

Are you working on any exciting new projects now? How do you think that will help people?

I am working on a short term rental concierge service through my website. Short term and vacation rental owners often run into situations with guests for which they need advice. For example, a guest is asking for a refund because they found dust under the couch. Should I give it to them? Should I call Airbnb? How do I handle this?” Many owners don’t have a network of other owners they can ask for advice. We would like to bridge that gap. I am also working on a book that explains in depth the best strategies for investing in short term and vacation rentals.

What do you think makes your company stand out? Can you share a story?

My company stands out because we ONLY work with investors who are looking for a short term rental (read: Airbnb’able property). We have offices in 3 top markets to invest in vacation rentals (and the safest markets as far as regulations are concerned). Gatlinburg TN, Panama City Beach, FL, and Gulf Shores, AL. We expect to add 3 other markets by Q3 of 2020. This past year we connected investors with over $75 million in cash flowing vacation rentals. As far as I know, we are the only real estate company that focuses specifically on this investment niche.

None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story about that?

A big contributing factor to my success is my supportive husband. He property manages our own investment portfolio, is a DJ on SiriusXM, is an amazing father and the most supportive spouse. He’s even more of a feminist than I am.

Ok. Thank you for all that. Let’s now jump to the main core of our interview. The Real Estate industry, like the Veterinarian, Nursing and Public Relations fields, is a women dominated industry. Yet despite this, less than 20 percent of senior positions in Real Estate companies are held by women. In your opinion or experience, what do you think is the cause of this imbalance?

I think that female agents, while we make up the vast majority of the industry, are not taken seriously. It’s assumed that we are all bored housewives who started selling real estate in order to “feel like we are contributing.” I work solely with investors, and I cannot count how many times I have mentioned that I own 25 of my own rental properties, and a male client will say “Oh, so you don’t own them right? You just manage them for other people?” And I have to explain to them that no, I do not manage 25 for other investors, I bought and own 25 of my own properties. There is just an underlying assumption that women don’t own property. There are very very few women real estate investors and even less who specialize in this sales niche in the industry.

What 3 things can be done by a)individuals b)companies and/or c) society to support greater gender balance going forward?

1. Don’t make assumptions. Don’t assume that a female agent is only the industry to pass the time while their husband “brings home the bacon.”
2. Think before you speak. If you wouldn’t say it to a man in a professional setting, you probably shouldn’t say it to a woman either. This goes back to my previous answer about constantly being questioned on if I “actually” own my properties. I don’t believe that men would question other men about that. My investments are no less legitimate because of my sex.
3. Just be a decent human. We are all humans and we are all just trying to get through life. We all have brains and we all have feelings and we should all treat one another with equal respect.

In your opinion, what are the biggest challenges faced by women executives that aren’t typically faced by their male counterparts?

In my experience, there is a general “extra” questioning of women on whether or not they really know what they are speaking about. Whereas men’s words tend to be taken at face value without extra questioning.

Can you share 3 things that most excite you about the Real Estate industry?

1. The possibilities are limitless. There are literally an endless number of directions that you can go in the real estate industry.
2. My compensation is commensurate with my work ethic. The harder I work, the better deals I find for my clients, the more investments they buy with me. It’s mutually beneficial for everyone. \
3. I get to work with so many different kinds of people, I am constantly learning.

Can you share 3 things that most concern you about the industry? If you had the ability to implement 3 ways to reform or improve the industry, what would you suggest?

1. Zillow concerns me a little bit. They have found ways to automate home buying, and are on the path to (attempt) to devalue the work of agents.
2. iBuyers. The iBuyer model has been around for a long time by another name “wholesaling.” Wholesalers acquire distressed properties for well under market value and then sell them to investors. iBuyer companies are like big corporate wholesalers with endless money. They acquire the distressed properties, but then they sell them for market value. This makes finding lucrative deals for investors more difficult.
3. I really only have 2 concerns haha. I really wouldn’t do anything to reform the industry. The great thing about the real estate industry is that it’s largely unregulated. If you can find a need or pain point in the industry, you can start up a real estate related business and have a great probability of success.

What advice would you give to other leaders to help their team to thrive?

Keep going! Keep finding new ways to overcome obstacles and just keep moving forward.

Ok, here is the main question of our interview. You are a “Real Estate Insider”. If you had to advise someone about 5 non intuitive things one should know to succeed in the Real Estate industry, what would you say? Can you please give a story or an example for each?

1. Automate as many tasks as possible
2. Lead generation services are usually a scam
3. The phone is your friend
4. Build your systems before you are busy enough to need them
5. Never stop following up

Because of your position, you are a person of enormous influence. If you could inspire a movement that would bring the most amount of good to the greatest amount of people, what would that be? You never know what your idea can trigger. :-)

That is a big question. I just try to set a good example. I try to be kind and good to everyone, and to try to impart as much real estate investing knowledge to my clients as I can, and hope that others will treat me the same way.

How can our readers follow you online?

www.theshorttermshop.com
Instagram @theshorttermshop
twitter: @Shorttermshop
Facebook: @Theshorttermshop

Thank you for your time, and your excellent insights!