Viyaleta Kachan Launched A Actual Property Profession In 2022. Here is Her Story
It’s Agent Appreciation Month right here at Inman. Be part of us to rejoice all that brokers do, all month lengthy. Craving whole entry? Benefit from our Agent Appreciation Sale, and subscribe to Inman Choose for under $99.
Simply two years in the past, the actual property trade was the good refuge for hundreds of execs in search of a brand new profession that appeared boundless in its rewards — safety as a vital trade, a self-set schedule, overwhelming client demand, a bounty of enticing recruitment perks and commissions that might rapidly outstrip something they made on a salaried job.
Briefly, life and actual property had been good.
Nevertheless, the market began to show in 2022 as inflation and the chance of a recession started to mount. In an try to chop off each, the Federal Reserve raised rates of interest by greater than 5 % in a single yr, a transfer that discouraged consumers and sellers from inserting their chips in an more and more complicated market.
Briefly, life and actual property weren’t as good.
Past its affect on customers, the market shift additionally created skittishness amongst would-be brokers. After including a record-high 100,876 new members in 2021, the Nationwide Affiliation of Realtors solely added 21,434 new members in 2022 — a 78 % decline in membership development.
“The market was down in 2022, and we count on no significant beneficial properties in 2023,” NAR Chief Economist Lawrence Yun not too long ago mentioned of the Affiliation’s membership prospects.
Whereas uncertainty pushed most individuals away from actual property, it referred to as Nashville-based RE/MAX agent Viyaleta Kachan’s title.
In spite of everything, Kachan’s life had already been stuffed with a large number of sudden moments — she moved from Belarus to California on the age of six, COVID upended the final yr of her collegiate profession and she or he shelved her medical faculty goals for an artist’s life in Nashville, Tennessee.
“I simply type of felt like I used to be all the time ready for one thing to occur and time wasn’t on my facet,” she mentioned of her days juggling appearing auditions and a retail job at Lululemon. “I used to be ready for bookings, and so they weren’t coming. I felt like all the pieces was out of my very own fingers.”
“I used to be fed up. I’m a really exhausting employee at coronary heart,” she added. “I met someone that was a Realtor, and she or he defined the way it labored and walked me by her expertise. And I used to be like, ‘That’s it. That is what I’m doing.’ ”
Beneath, revisit Kachan’s first yr as an agent by the prism of a few of the most exceptional numbers of her rookie yr.
Variety of choices earlier than she took a leap of religion: 3
In August 2019, Kachan was an excited faculty senior plotting out the primary steps of what would hopefully be an extended and profitable profession as a kinesiologist.
Nevertheless, the next months would usher within the first pandemic in additional than a century and cloud Kachan’s path to medical faculty, as she watched the U.S. medical system buckle beneath the immense strain of a lethal, novel virus.
“I used to be graduating two months after faculties shut down. I used to be really planning on doing one thing within the medical discipline,” she mentioned. “And as [COVID-19] occurred I type of explored each different choice. I made a decision not to enter the medical discipline due to all the pieces occurring.”
With medical faculty out of the image, Kachan determined to return to her past love — appearing. However COVID had additionally difficult California’s movie and tv trade, with security protocols making it next-to-impossible to maintain a gradual stream of bookings as a brand new actor.
“I knew I used to be principally beginning contemporary, however truthfully, I didn’t even realize it was gonna be that robust,” she mentioned. “When you’re out of school, it’s so much more durable to satisfy mates and meet individuals, and it wasn’t straightforward.”
Decided to construct an appearing profession, Kachan determined to maneuver to Nashville and benefit from the town’s burgeoning filming trade. With looser restrictions and fewer actors scrapping for roles, Kachan noticed Tennessee’s Music Metropolis as her probability to be a giant fish in a small pond.
“It was nonetheless not lots of people transferring [there] at that time,” she mentioned concerning the metropolis’s 2021 inhabitants growth. “I simply noticed so many alternatives and my lease was going to be half the worth it was in San Diego. At my age, it simply provides you the chance to have the ability to not simply work to dwell.”
Kachan’s appearing chops earned her a number of roles in native commercials, however she nonetheless wanted to complement her earnings with a retail job at Lululemon. Though she was grateful for the chance to begin over in a brand new, extra inexpensive metropolis, Kachan started feeling the burden of untapped potential whereas spending days ready on prospects and rearranging racks of leggings and sweatshirts.
“Every part was out of my very own fingers,” she mentioned. “While you’re working retail, you’re getting paid by the hour. If I’m there, I’m getting paid. If I’m not there, then I’m not getting paid. I simply type of was fed up.”
“I’m a really exhausting employee at coronary heart,” she mentioned. I’m an immigrant. My mother and father moved me from Europe once I was six years outdated. So I’ve all the time had that immigrant mentality to work exhausting.”
Throughout her shifts, Kachan watched the ladies who got here out and in of the shop, usually with their youngsters in tow and imagined what it will be wish to have that type of freedom. With a current engagement and plans for youngsters on her thoughts, Kachan was decided to search out out.
In the future, Kachan struck up a dialog with one of many prospects and discovered that she — and most of the different girls who got here into the shop — had been actual property brokers.
“I really feel like I by no means thought of actual property as a result of it simply appeared out of attain and I don’t know why,” she mentioned. “I feel even residing in California, it appeared like they had been all simply promoting these loopy homes and it was simply one thing that was approach, approach approach out of attain.”
“However she defined how being an agent labored and walked me by her expertise. And I used to be like, that’s it. That is what I’m doing,” she mentioned. “What bought me was the truth that the more durable I labored, the extra potential I needed to generate income. There was no restrict.”
The variety of months it took her to get a license: 2
On the time of Kachan’s probability encounter, the actual property market was nonetheless on a excessive, regardless of mortgage charges climbing to five.54 % by mid-Could. Desirous to catch the tailwinds of the market, Kachan spent each free second making ready for the licensing check.
“I used to be really learning at work. I used to be learning in my automobile, I used to be learning in every single place I might as a result of that’s when the market was at its peak and I simply felt like I used to be lacking out,” she mentioned. “I used to be tremendous motivated.”
Nevertheless, within the midst of her learning frenzy, life threw one other disheartening curveball Kachan’s approach: Her mom had been recognized with breast most cancers and wanted a double mastectomy.
“I needed to postpone my examination and fly residence to California,” she mentioned. “It was type of a loopy season, particularly whereas attempting to plan a marriage as effectively.”
It took Kachan three tries to cross the licensing check, however she stored pondering of the liberty actual property would provide her and her household, particularly as her mom launched into the troublesome highway to remission.
“It was positively difficult, however I feel it was such good timing to be beginning a brand new profession as a result of it gave me such a special perspective,” she mentioned. “I used to be so grateful to be doing actual property at the moment, due to the flexibleness of the schedule and if I wanted to go journey and go to my mother I might.
She added, “I additionally had a marriage to pay for, so I used to be simply within the mindset that I wanted to point out up and work exhausting.”
The variety of barstools that led her to RE/MAX: 2
With so many challenges at her doorstep, Kachan was grateful for one more probability encounter that led her to the brokerage she’d be part of. Kachan’s husband Charlie was at a neighborhood sports activities bar when a few individuals requested if they might sit subsequent to him.
The 2 people who wanted a spot had been the proprietor of [The Ashton Real Estate Group], Gary Ashton, and actual property agent Amanda Peterson, who’s now Kachan’s mentor.
“Gary talked about that he did actual property and my husband talked about that I used to be moving into it,” Kachan mentioned.
Charlie exchanged info with Ashton and Peterson and handed their numbers onto Kachan, who scheduled a gathering with Peterson the subsequent day.
“She informed me all concerning the brokerage and actual property and her expertise with it,” she mentioned. “She was a newly single mom, and she or he was simply killing it. She was supporting her household by herself and was simply such an encouraging lady.”
Peterson additionally informed Kachan concerning the brokerage’s new-agent boot camp, their lead era and transaction administration programs, and the quantity of schooling, coaching and assist she might entry after the boot camp was over.
“It was loopy the way it all simply type of fell into place the way in which it wanted to, as a result of at the moment I simply actually didn’t know what my subsequent step was and what my subsequent chapter was,” she mentioned. “However after that assembly, it was only a no-brainer for me to affix.”
The weeks she needed to be taught concerning the market shift: 3
Not one to waste time, Kachan rapidly accomplished her onboarding with Ashton’s group and began the agency’s three-week boot camp. By the point she obtained began in July, Kachan mentioned the market had began to decelerate as consumers and sellers started backing out of an more and more risky market.
“We seen a change out there proper as our boot camp completed,” she mentioned. “However our brokerage emphasised our coaching, the programs that they had in place, and the alternatives that had been nonetheless out there.”
Though issues weren’t as scorching because the earlier years, Kachan mentioned Nashville’s market was nonetheless within the midst of a significant inhabitants growth fueled by coastal consumers who needed to get extra bang for his or her buck by coming into the town’s sturdy new-home market.
“There’s nonetheless a ton of motion that was occurring, so we actually didn’t worry it an excessive amount of due to how we ready,” she mentioned. “We now have our mentors, and now we have squad leaders. We’re all a part of teams and we simply type of inspired one another and constantly met up for trainings.”
“Though it was actually intimidating and everybody was type of questioning what was occurring, we had been on the identical web page. We knew we’re gonna be okay,” she added.
Kachan mentioned she targeted on studying concerning the new-home market, as a lot of her leads had been out-of-towners who needed to nab a brand new residence for a fraction of what they’d pay of their present metropolis. Her first deal was finished over FaceTime with a purchaser who needed to maneuver nearer to her daughter and grandchildren.
“My very first one was by FaceTime,” she mentioned. “I recorded a video of a newly-built townhouse and ship it to her, and she or he needed it. It was type of loopy how that one went. It gave me confidence and helped me type of know the way the method works.”
“It’s type of good to do the FaceTime and simply undergo all of the errors with out having somebody actively there,” she added whereas laughing.
The variety of offers she completed final yr: 9
The next offers had been a little bit tougher for Kachan, who tried her greatest to maintain up with how rapidly the market continued to vary into the autumn and winter. She admittedly tried to “faux it till she made it” to start with, however then realized how a lot that might damage her and her purchasers.
“There have been lots of questions that folks had been asking about rates of interest and different issues that I didn’t know the solutions to,” she mentioned. “They’d ask, ‘Hey, do you assume the markets gonna get crazier? And I might simply say like, ‘Yeah, it’s, , it’s loopy.’ I positively gave lots of false info simply type of going together with it.”
“Now I look again and like, ‘Oh, man, I used to be simply so immature,’ ” she added. “I counted on my consumers already realizing the method since they’d been by it earlier than. I didn’t account for a way a lot issues could have modified since their final buy, I imply, simply have a look at how issues have modified over the previous yr.”
Kachan mentioned she began leaning extra on her mentor, Amanda Peterson, and different extra skilled brokers to assist her keep on high of market adjustments with real-time information and contract critiques earlier than presenting them to consumers.
“I used to be tremendous blessed to have [Amanda]. I can textual content her at 10 o’clock at evening once I’m writing up a contract, and she or he’ll look by it,” she mentioned. “She stored me sane as a result of I assumed anytime I made a mistake, it was the worst scenario ever. She’d remind me that new brokers undergo this. It’s gonna be okay.”
She additionally leaned into making movies on BombBomb to maintain her purchasers up to date on their transactions and different market intel. She additionally started sharpening her data about new builds and the elements that affect that phase of the market.
Her dedication — and an look in a brokerage industrial — helped her shut 9 offers final yr.
“I used to be really in one of many commercials that we did final yr, and [Gary] is absolutely nice at advertising, so we get lots of purchasers who need to work with us,” she mentioned. “I used to be fortunate sufficient to have 9 gross sales final yr from the time that I joined [in July] to December.”
“I used to be speculated to have 11, however two of them are delayed nonetheless due to the climate and a few inspection points,” she added. “I did have a reasonably good quantity of gross sales, and I really feel very lucky for that.”
Her gross sales goal for 2023: $10.5 million
Along with her first six months within the bag, Kachan mentioned she’s able to take 2023 by the horns with an bold gross sales purpose of $10.5 million. With a median gross sales value of roughly $450K and an common list-to-pending timeline of 25 days in Nashville, Kachan mentioned she positively believes she will be able to meet it.
“My purpose is $2.65 million quarterly. I feel it’s doable,” she mentioned. “I set a exhibiting purpose. I can’t keep in mind the precise quantity, but it surely’s on my mirror. It simply type of encourages me to maintain working more durable.”
Kachan mentioned 2022 stretched her past her wildest creativeness, and she or he’s already obtained her sights on studying to work with sellers and builders as Nashville continues its constructing growth.
“It’s been a bizarre yr, and it was a bizarre time to get into actual property,” she mentioned. “However I’ve actually beloved being on this discipline.”
“I nonetheless have actually nice connections with all my consumers, and I nonetheless speak to them due to all of the adjustments that had been occurring in my life at the moment, like my mother going by most cancers and me getting married,” she added. “It’s all about exhibiting up, and I plan to maintain exhibiting up all through this yr.”