There is scarcely an industry more competitive than real estate in New York City and the Hamptons. It literally powers the East End in industry because its success means the success for almost every single industry here, such as publishers, restaurants, building and its trade, tourism, philanthropy, and so much more. With literally thousands of agents vying for success, they need to differentiate themselves in ways that solves problems within its own confines. Cindy Scholz, who began her career in real estate at the tender age of twenty, went further. She not only leads in building a network of entrepreneurial activations but founded the Women Of Compass which offers support and mentorship to women in this hyper-competitive industry. We wanted to learn more.
Cindy, Compass has just taken the lead in top rankings for a brokerage in the nation and you were the 14th agent to sign on with them when they first launched. Why did you choose Compass for your license? What do they offer that the others do not?
Joining Compass allowed me to become a business, not just a broker. Compass attracts top talent from numerous industries, and I knew I wanted to spend my formative years surrounded by successful and driven peers and mentors. During my first month at Compass, Robert Reffkin invited me to a conference gathering like-minded entrepreneurs. Robert paid for this out of his pocket knowing I would create relationships that would further my career. Fast forward eight years and from that conference, I have met some of my closest friends and loyal clients. Robert, and the entire Compass team, continue to invest in my success. I receive the same support even with over 20,000 agents.
Hudson Advisory is ranked #8 in the United States by the Wall Street Journal, conducting well over $2 Billion of real estate sales throughout Manhattan, Brooklyn, The Hamptons, and Miami since 2017. In 2021, Hudson Advisory completed $1.3 Billion in real estate transaction volume. How long have you been a member of the Hudson Advisory Team and what part do you play in the ensemble?
I’ve always respected how Clayton and Stephen run their business. I always wanted to collaborate but didn’t see the path forward. That is until our world turned upside down and Covid hit. March 2020 New York City real estate came to a screeching halt. Like many, I escaped to the East End. My job very much defines who I am, so naturally I felt very lost. My mentors at Compass suggested I call Clayton and try to start a Hamptons arm of Hudson Advisory. Clayton and I spent hours getting to know one another in the Hamptons and decided to join forces to launch Hudson Advisory Hamptons. What started as a “Covid project” has quickly become a very successful business line where we are now one of the top teams in the Hampton market. New York City is where dreams are made, and the Hamptons are where they are lived. Our strong team, and brand, has allowed us to service our clients in New York City and the Hamptons.
Would love to learn more about you and your history — is it true that you started in real estate at age 20?
Yes, I went to school for speech therapy and realized it wasn’t my passion. My mentor suggested I go into real estate before finding a “real job” — he didn’t feel the instability of real estate was a pathway to a career. I loved the entrepreneurial spirit of the profession. I thrived in the environment where your input directly impacts your results.
With luxury real estate, often clients live and play in different parts of the country and sometimes the world. For what regions do you sell and do you have any affiliations with other states or offices?
We are often selling clients their second or third home. Our referral relationships stretch across the country. Clients wanting Malibu Beach Homes to ranches in Montana are covered under our network.
You are such a trailblazer, Cindy, when it comes to philanthropy and women’s initiatives. What really stands out is that you founded “Women Of Compass.” Can you tell us more about that and how people can get involved? What inspired you to start that journey?
Being a female entrepreneur can be a lonely place if you do not have the right support system. I co-founded Women of Compass to elevate our profession, and assist agents to grow personally and professionally under the leadership of strong women. Being an entrepreneur most of your learnings are reality based.
To be blunt, there are too many cheerleaders and not enough coaches. Women of Compass solves this by gathering inspiring leaders that generously share their knowledge. We started Women of Compass as a small grassroots organization. We went from 50 members to over 5,000 nationwide. Any and all agents are welcome to be members.
We would love to learn more about your work as a tech entrepreneur and investor.
I feel the need to pay it forward and support fellow entrepreneurs in advisory and investing. Investments I make are driven by my belief in the founders and passion for the project. Being a strategic investor is important to me as I want to feel there are mutual benefits. When possible, I love investing in female entrepreneurs. Most recently I invested in my friend’s pistachio milk company – Tach. The milk is delicious, and you’re sure to find it out here this summer, but most importantly I know the founder won’t sleep until everyone is nuts over Tach.
What does being active in the Milken Institute’s Young Leaders’ Circle mean to you and what does it entail?
The Milken Institute convenes the best minds in the world to tackle urgent challenges and envision exciting opportunities. The Institute brings together individuals with capital, power, and influence to change the world. Milken Young Leaders is a group of accomplished individuals under 40 rethinking entrepreneurship, finance, health, tech, media, and philanthropy. Our YLC group is focused on the power of connection. I am grateful to have developed deep relationships with members over the years.
You push quite a few art initiatives, such as Chashama, which advocates helping individuals see the value in art. Why is the art sector such a meaningful part of your journey?
Art is the heartbeat of any city. As prices of real estate continue to rise it is important we help artists stay in the cities we love. Chashama provides commercial and residential space to artists at a fraction of the cost. We throw the best galas with over 100 performance artists. The Chashama parties should not be missed!
We imagine the pandemic hit your business pretty hard. Can you tell us how you worked through 2020 and how it has changed the way you work going forward?
The pandemic led me to Hudson Advisory and we as a team took the time to grow and invest in the business. For example, we have a Head of Brand which most teams do not have. Marissa has taken on a high-level approach to our branding, marketing, and operational efficiency, consistently making sure our properties are well positioned and in line with our aesthetic. Covid forced me to produce new effort strategies that I never thought possible. I started to do Transcendental Meditation which has been life changing.
Let’s talk about the Hamptons – how often does your business in NYC crossover to the Hamptons or do you have Hamptons exclusive clients as well?
Most clients are from NYC. The Hamptons are a natural extension for many of my clients. Brokers will often refer me business where I serve solely as their Hamptons agent.
What’s your favorite element about the Hamptons? Do you have a favorite village and why?
Sag Harbor is the best place to reside year round. Sag is rich with history and has the best social scene. I love being able to go to the beach and on the way hit multiple farm stands. A close runner up to Sag is Amagansett — being in Amagansett during the summer is the epitome of beach living. Both towns have the laid back vibe that I tend to gravitate towards.
What do you do for fun when you’re not working and what’s coming up for you in terms of your work and philanthropic endeavors?
My work and fun are often blended as I spend three to four nights a week entertaining clients. I enjoy getting to know my clients and then blending them with like minded people. Dinner parties are my speciality. I am known for throwing dinners of 12 people who don’t know one another but should. Guests leave with new ideas and often new friends. It has become a tradition to host a huge Hampton Clambake for clients and friends. This summer we have multiple events planned.
Some will focus on bringing female investors together, and others are simply to enjoy beach bonfires and chat life. Horseback riding is a newer hobby which I am loving and find it peaceful to be connected to nature. And anyone who knows me knows that I love wine. Yes, I enjoy the consumption of wine, but more so the art form of making the wine and learning about the winemakers.
To learn more about Cindy, click here.
