Property acquisitions manager

Property acquisitions managers ensure land or property acquisition transactions. They liaise with relevant stakeholders concerning financial aspects and risks arising from property acquisition. Property acquisitions managers ensure compliance with legal requirements for purchasing property and take care of all documentation and closure techniques needed.

The duties of a property acquisitions manager include, but are not limited to:

• Reviewing financial statements and appraisals of the property to be acquired
• Negotiating with sellers, banks, mortgage companies, title companies, etc. to reach an agreement on price, terms, and conditions of sale
• Conducting due diligence to ensure that the property is accurately appraised, including researching comparable properties in the area
• Resolving legal issues regarding title ownership, liens, encumbrances, zoning issues, easements, etc.
• Managing the closing process to ensure the timely completion of all transactions
• Estimating the value of the property based on a review of comparable properties in the area
• Conducting inspections of the property to ensure it meets the terms of the purchase contract
• Negotiating with potential buyers on behalf of the seller to ensure a fair price is reached
• Ensuring that all regulatory requirements are met during the acquisition process

The following job titles also refer to property acquisitions manager:

property acquisitions manager
property acquisitions area manager
property transactions supervisor
land acquisition coordinator
land acquisition specialist
property acquisition manager
director of property acquisition services
land acquisition manager
real estate acquisitions specialist
real estate acquisitions manager

The property acquisitions manager’s work environment is usually in an office setting, although some travel may be required to visit properties or attend meetings. The workweek is typically 40 hours, although some overtime may be required to meet deadlines or attend evening meetings.

The job is generally fast-paced and stressful, as property acquisitions managers must constantly negotiate deals, keep up with the ever-changing real estate market, and meet the demands of clients. However, the job can also be exciting and offers the opportunity to make a large amount of money.

Property acquisitions managers typically need a bachelor’s degree in real estate, finance or a related field. Some employers prefer candidates who have a master’s degree in business administration (MBA). Relevant coursework includes accounting, finance, economics, marketing and business law.

Property acquisitions managers typically receive on-the-job training. This training may include learning about the company’s policies and procedures, the software they use and the real estate market in the area. Property acquisitions managers who work for large companies may receive additional training to learn about the company’s specific processes.

ISCO skill level is defined as a function of the complexity and range of tasks and duties to be performed in an occupation. It is measured on a scale from 1 to 4, with 1 the lowest level and 4 the highest, by considering:

• the nature of the work performed in an occupation in relation to the characteristic tasks and duties
• the level of formal education required for competent performance of the tasks and duties involved and
• the amount of informal on-the-job training and/or previous experience in a related occupation required for competent performance of these tasks and duties.

Property acquisitions manager is a Skill level 3 occupation.

These occupations, although different, require a lot of knowledge and skills similar to property acquisitions manager.

real estate manager
real estate leasing manager
housing manager
real estate investor
bank account manager

These occupations require some skills and knowledge of property acquisitions manager. They also require other skills and knowledge, but at a higher ISCO skill level, meaning these occupations are accessible from a position of property acquisitions manager with a significant experience and/or extensive training.

insurance claims manager
insurance product manager
investor relations manager
banking products manager
investment manager

This knowledge should be acquired through learning to fulfill the role of property acquisitions manager.

• Corporate social responsibility: The handling or managing of business processes in a responsible and ethical manner considering the economic responsibility towards shareholders as equally important as the responsibility towards environmental and social stakeholders.
• Real estate market: The trends concerning the buying, selling, or renting of property, including the land, buildings, and natural resources encompassed within the property; the categories of residential properties and properties for business purposes which such properties are traded in.
• Financial analysis: The process of assessing the financial possibilities, means, and status of an organisation or individual by analysing financial statements and reports in order to make well informed business or financial decisions.
• Property law: The law and legislation that regulates all the different ways to handle property, such as the types of property, how to handle property disputes and property contract rules.

These skills are necessary for the role of property acquisitions manager.

• Collect property financial information: Collect information concerning the previous transactions involving the property, such as the prices at which the property had been previously sold and the costs that went into renovations and repairs, in order to obtain a clear image of the property’s value.
• Analyse market financial trends: Monitor and forecast the tendencies of a financial market to move in a particular direction over time.
• Strive for company growth: Develop strategies and plans aiming at achieving a sustained company growth, be the company self-owned or somebody else’s. Strive with actions to increase revenues and positive cash flows.
• Liaise with financiers: Liaise with people willing to finance the project. Negotiate deals and contracts.
• Advise on property value: Provide advise to those that own a property, professionals in real estate, or prospective clients in real estate on the current monetary value of a property, the potential of development in order to increase the value, and other relevant information concerning the value of the in the future developments of the real estate market.
• Provide cost benefit analysis reports: Prepare, compile and communicate reports with broken down cost analysis on the proposal and budget plans of the company. Analyse the financial or social costs and benefits of a project or investment in advance over a given period of time.
• Create a financial plan: Develop a financial plan according to financial and client regulations, including an investor profile, financial advice, and negotiation and transaction plans.
• Negotiate with property owners: Negotiate with owners of properties who wish to rent or sell them in order to obtain the most beneficial agreement for the potential renter or buyer.
• Identify customer’s needs: Use appropriate questions and active listening in order to identify customer expectations, desires and requirements according to product and services.
• Advise on financial matters: Consult, advise, and propose solutions with regards to financial management such as acquiring new assets, incurring in investments, and tax efficiency methods.
• Analyse financial performance of a company: Based on accounts, records, financial statements and external information of the market, analyse the performance of the company in financial matters in order to identify improvement actions that could increase profit.
• Manage contracts: Negotiate the terms, conditions, costs and other specifications of a contract while making sure they comply with legal requirements and are legally enforceable. Oversee the execution of the contract, agree on and document any changes.
• Examine the conditions of buildings: Monitor and assess the conditions of buildings in order to detect faults, structural problems, and damages. Assess general building cleanliness for grounds maintenance and real estate purposes.
• Review closing procedures: Review the documentation and gather information on the closing process of assets trading, the step in which the ownership is officially transferred from one party to another, in order to verify whether all the procedures were compliant with legislation and that all contractual agreements were followed.
• Value properties: Examine and evaluate land and buildings in order to make valuations about their price.
• Compare property values: Obtain information on the value of properties comparable to a property which is in need of valuation in order to make more accurate appraisals and assessments, or to set or negotiate the price at which the property can be sold or leased.
• Analyse insurance risk: Analyse the probability and size of the risk that is to be insured, and estimate the value of movable or immovable property of the client.
• Perform property market research: Research properties in order to assess their usefulness for real estate activities, using various methods such as media research and visitation of properties, and identify the potential profitability in the development and trading of the property.
• Analyse financial risk: Identify and analyse risks that could impact an organisation or individual financially, such as credit and market risks, and propose solutions to cover against those risks.
• Liaise with managers: Liaise with managers of other departments ensuring effective service and communication, i.e. sales, planning, purchasing, trading, distribution and technical.
• Follow company standards: Lead and manage according to the organisation’s code of conduct.

This knowledge is sometimes, but not always, required for the role of property acquisitions manager. However, mastering this knowledge allows you to have more opportunities for career development.

• Financial statements: The set of financial records disclosing the financial position of a company at the end of a set period or of the accounting year. The financial statements consisting of five parts which are the statement of financial position, the statement of comprehensive income, the statement of changes in equity (SOCE), the statement of cash flows and notes.
• Financial management: The field of finance that concerns the practical process analysis and tools for designating financial resources. It encompasses the structure of businesses, the investment sources, and the value increase of corporations due to managerial decision-making.

These skills and competences are sometimes, but not always, required for the role of property acquisitions manager. However, mastering these skills and competences allows you to have more opportunities for career development.

• Enforce financial policies: Read, understand, and enforce the abidance of the financial policies of the company in regards with all the fiscal and accounting proceedings of the organisation.
• Attend trade fairs: Attend exhibitions organised to enable companies in a specific sector to demonstrate their latest products and services, study the activities of their competitors, and observe recent market trends.
• Maintain records of financial transactions: Collate all the financial transactions done in the daily operations of a business and record them in their respective accounts.
• Supervise property development projects: Supervise the operations of new projects relating to property development, such as renovation, re-leasing, purchasing of land, building projects, and sale of improved properties. Ensure that the operations are profitable, occur in a timely manner, and are compliant with regulations.
• Provide information on properties: Provide information on the positive and negative aspects of a property and the practicalities concerning any financial transactions or insurance procedures; such as location, composition of the property, renovation or repair needs, the cost of the property and the costs related to insurance.
• Plan health and safety procedures: Set up procedures for maintaining and improving health and safety in the workplace.
• Develop professional network: Reach out to and meet up with people in a professional context. Find common ground and use your contacts for mutual benefit. Keep track of the people in your personal professional network and stay up to date on their activities.
• Monitor” title procedures: Monitor the bundle of rights of a property and investigate all the parties involved in the current procedure, such as the transfer of a deed in the transfer of ownership of a property or the provision of all the documents serving as evidence of” title, to ensure that all documentation and procedures occur according to legislation and contractual agreements.
• Organise a damage assessment: Organise a damage assessment by indicating an expert to identify and examine the damage, give information and instructions to experts and follow up on the experts, and write a damage report.

3334 – Real estate agents and property managers

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References

1. Property acquisitions manager – ESCO
2. Real Estate Acquisitions Manager Job Description: Salary, Duties, & More – Climb the Lader
3. Featured image: Photo by Tierra Mallorca on Unsplash