This is a very pressing and important topic in today’s fast-paced business of real estate wholesaling. When you make the decision to hire an acquisition manager for your real estate investing business, you’re basically leveling up. Managing your wholesaling business from the top-tier level is game-changing. It means that you’re ready to be a business owner and delegate some of these tasks to other people.
Why would you hire an acquisition manager?
An acquisition manager handles all of the pre-screening of incoming seller leads, moving them down the right path of action, scheduling appointments, taking photos, doing rehab estimates, and even negotiating awesome deals with sellers.
Your Acquisition Manager can pre-screen your sellers
Pre-screening sellers is the most grueling process of the real estate wholesaling funnel. It can be frustrating, daunting, and exhausting. Determining motivation is the key element to qualifying a seller for your program. If you have better things to do than sit on the phone call day looking for a needle in a haystack, then it’s time to hire an acquisition manager for your real estate wholesaling business. Your acquisition manager can start his day by pre-screening any new seller leads that came in the last 24 hours. Making direct contact and doing the pre-screening interview will take a load off your plate.
Outsource Negotiations and Real Property Acquisitions
When interviewing people for your newly offered position, look for someone that claims to be a power negotiator. This is a valuable asset to have in your real estate acquisition manager. This role has high responsibility and authority to make big decisions.
Here’s a checklist to help you determine if you’re ready to hire an acquisition specialist/manager:
- You have closed at least 5 wholesale deals where you’ve dealt directly with the seller. (No Co-wholesale deals or MLS)
- You’ve launched your own lead generation campaign and pre-screened at least 100 of your own sellers.
- You can clearly identify a “motivated” vs a “Non-motivated” seller.
- You don’t have analysis paralysis. (Which means you can’t determine if it’s a deal or not).
- You have a full-time job or just can’t find the time to respond to sellers within 24 hours.
- You’re losing deals because you’re not following up fast enough.
- You’re getting leads, but you’re not contacting them.
- You’re busy with other tasks that need to be done and neglect the most important ones.
- Giving up a portion of your profit so that you can focus on managing your business more efficiently doesn’t bother you.
- You like the idea of having a “frontman” to handle the sellers for you.
Yes, it’s time to Hire an Acquisition Manager!
If some (or all) of those bullet points sound like you, then you might be ready to move toward hiring an acquisition manager in your real estate wholesaling business. It’s a big leap of faith to put this role into the hands of someone else, but it pays off with a little patience and training.