Last Updated on: 22nd January 2023, 04:25 am
In this post, we’re gonna be taking a deeper look at the task and responsibilities of real estate acquisition managers and possibly gonna answer some other related questions.
But in a nutshell…
Real Estate Acquisition Manager’s primary job is to meet with home sellers, either in-person or virtually, to present offers and close deals. In these meetings, they assess the condition of the property, determining if any repairs are needed. They evaluate the financial aspect of the deal to determine if it would be a profitable investment. In short, they are responsible for identifying, negotiating, and closing deals on properties.
Acquisition Manager also needs to be skilled in structuring deals, which is why it is important for them to focus on mastering tactics for closing deals, honing their sales skills, and having a strong understanding of real estate financing.
Moving forward to another question…
How much is the salary of a real estate acquisition manager?
Real Estate Acquisition Managers usually get paid with a combination of base salary and commission. But on average, they can earn around $60,000 to $100,000 per year as a base salary. Some companies may offer a base salary with the possibility of commission based on the number of deals they close, while others may pay them only based on commission, or a mix of both.
Going forward, let’s talk about…
How much commission do real estate acquisition managers get?
In the real estate industry, the standard commission rate for Acquisition Managers is between 10-15%. However, this rate may fluctuate depending on the size of the profit from a closed deal. If the profit is relatively small, the commission rate may be lower, but if the profit is substantial, the commission rate may be higher.
Another important question that needs to be answered is…
Do you need to hire a real estate lead acquisition manager?
It’s not necessary to hire an Acquisition Manager if you don’t have a significant number of leads to make offers to. However, as the number of leads increases and becomes too much to handle, you’re gonna have to hire an Acquisition Manager to assist in closing deals.
Do you need CRM to manage your real estate leads?
Expanding on this subject…
What are the qualifications to be a real estate acquisition manager?
When hiring a Real Estate Acquisition Manager, companies typically prefer applicants who possess the following qualifications:
- Outstanding sales and people skills
- Self Starter
- A skilled negotiator
- Can read people effectively and build lasting relationships
- A good understanding of technology
- Understand which contracts to use and needed to close on a deal
Solid Buyers list
- Understand exit strategies, financing, offers, and the generation of accurate repair lists.
- Excellent English Communication Skills
- Has phone experience (phone sales or customer service is a plus)
- US Real Estate knowledge and experience are required
- Acquisition Manager or Lead Manager experience is a plus
- Not afraid to ask questions and make decisions
- Can easily adapt to changes.
Not that I want you to, but if you are running a start-up real estate business and have a tight budget, it may be more cost-effective to hire a virtual assistant as a Real Estate Acquisition Manager in another country, rather than hiring someone locally. This can give you more flexibility in terms of capital, and as your business grows, you can always increase your employee’s pay. Keep in mind that this can be a great option for start-ups that are looking for ways to cut costs and manage their finances more efficiently.
Let’s shift gears and talk about…
How to hire a real estate acquisition manager in other countries?
To hire Real Estate Acquisitions Manager, you can visit these websites:
- Upwork – Upwork is one of the most popular platforms for hiring virtual assistants, and it has a large pool of freelancers from all over the world.
- Onlinejobs.ph – This is a Philippines-based website that specializes in connecting businesses with Filipino virtual assistants. It’s a popular destination for virtual assistants due to its large English-speaking population and high level of education.
- Fiverr – Fiverr is a platform that specializes in connecting businesses with freelancers for various tasks, including virtual assistant services. It has a large pool of freelancers from different countries.
Please make sure to do your own thorough research before making any decisions regarding hiring someone.
Moving on to another important question…
What are the job and responsibilities of a real estate acquisition manager?
The responsibilities of a Real Estate Acquisition Manager include:
- Speaking to Motivated Sellers to present offers
- Sending out the Purchase Agreement and going over it with the seller
- Negotiating with the seller to get the lowest price possible
- Doing follow-ups and having a pipeline of your leads
- Stay in contact with the Transaction Coordinator throughout the closing
- Evaluate and acquire prospective deals to get under contract
- Keep in contact with Sellers and Buyers (Investors)
- Running the numbers, (comps, after-repair value, tax assessment, repair cost, equity) and putting it under contract.
- Market each property we have under contract and find a cash buyer for it.
- Assist with getting all paperwork over to Transaction Coordinator so we can move forward with closing.
Hope this helps. We’re gonna update this post accordingly if needed.
Thanks for reading!