“Hiring an Acquisitionist” By: Andrew Schlag

In the world of real estate investing, finding and acquiring properties can be one of the biggest challenges. One solution is to hire an “acquisitionist” to help you buy and sell houses creatively on your behalf. An acquisitionist is someone who specializes in finding and acquiring properties that meet your specific needs and criteria. Here are some tips to help you find the right person for your house buying business.

1. Decide who you want.

I often hear “I’m not ready for an acquisitionist yet.” Maybe you’re right. Consider though, what if you, right now, had someone getting a piece of each deal you do, finding deals, calling them, negotiating them, and brining them to you ready to close. Or finding buyers, negotiating and getting the NRODs (non-refundable option deposits) scheduled to show up for you?

I’m not sure there’s anyone NOT ready for that…

You’re the business owner, so it’s incumbent on you to make the decision and lay out which responsibilities you want them to handle.

Next, what do you look for?

2. Attitude over talent/experience

When looking for an acquisitionist, it’s important to find someone with a great attitude and tenacity. Look for someone who has the right skills necessary to help you find and acquire the right properties for your business.

Look for someone who is a self starter, who is motivated and excited to grow!

I often hear, “But Andrew, what if they leave?”

A. Your acquisitionist will sign a 2 year non-compete agreement and things are clearly communicated up-front.

B. If they do leave after 2 years, and some will, be sure to communicate with them and to “Let me know as soon as you can so we can work together on a transition.” Relationships are everything.

3. Places to find them

There are any places to find an acquisitionist. Salesmen, waiters, and waitresses, and networking events are a few. While I like the first 3 I mentioned because they are free sources, we also have found success in paid online ads on LinkedIn and local staffing agencies.

4. Evaluate their goals

An acquisitionist’s goals and what they want is going to play into every aspect of their role. The hours they work, the income they want to make, and their willingness to be flexible are all playing a part. I have to know where they are wanting to head to see if, by them helping me get where I want, I can help them get to where they want. If so, it’s a perfect fit!

5. Consider their communication skills

Effective communication is essential when working with an acquisitionist. Look for someone who is responsive and easy to communicate with and who can provide you with regular updates about their progress. They should be able to clearly articulate their strategies and plans, be able to follow a script, be willing to listen to your feedback, and adjust their approach accordingly.

6. Determine their compensation structure

Finally, it’s important to determine how your acquisitionist will be compensated for their services. Some acquisitionists work on a joint venture basis, earning a percentage of profits on each property they acquire on your behalf. Others may be a flat fee or hourly rate with bonuses on top. You as the business owner are going to ask questions and determine what helps them best reach their goals while aligning with your growth. Make sure they understand their compensation structure and feel that the terms are fair and reasonable for both parties.

In conclusion, hiring an acquisitionist can be a great way to streamline your house buying business and help you find and acquire the right properties. By considering the factors above, you can find the right person to help you achieve your real estate investing goals while building a fun, exciting, and thriving culture on creativity and wealth!